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Covid-19 And IBC: Unfolding The Loopholes In The Recent Amendments

In the past four months, Covid-19 is the primary reason for economic instability and uncertainty for business and companies globally, Indian companies are no exception. There is no legislation in India that is left unaffected. The government has taken measures to curb the problems in order to handle the unforeseen problems that every sector of […]

Case Comment on Hon’ ble NCLT Mumbai Bench Holding – ” Claims towards rent do not qualify as Operational Debt under IBC”

The Hon’ble National Company Law Tribunal or NCLT (Mumbai) Bench  in M/S Citicare Super Speciality Hospital vs. Vighnaharta Health Visionaries Pvt. Ltd. has held that claims towards outstanding rent do not qualify as “ Operational Debt” as defined under Insolvency and Bankruptcy Code, 2016 ( IBC) and therefore the petition is not maintainable under Section 9 […]

Let’s Find Out Who Has The Actual Power? -Significant Beneficial Owner

Every time a concept is introduced, there is both a good and a bad use of it. Same is the case with the concept of beneficial ownership. Money laundering, illegal activities are the terms associated with the exploitation and wrong use of this concept.   Now let us understand, what is significant beneficial ownership?   […]

Case Comment on Hon’ ble NCLT Mumbai Bench Holding – ” Claims towards rent do not qualify as Operational Debt under IBC”

The Hon’ble National Company Law Tribunal or NCLT (Mumbai) Bench  in M/S Citicare Super Speciality Hospital vs. Vighnaharta Health Visionaries Pvt. Ltd. has held that claims towards outstanding rent do not qualify as “ Operational Debt” as defined under Insolvency and Bankruptcy Code, 2016 ( IBC) and therefore the petition is not maintainable under Section 9 of […]

Jaypee Infratech Insolvency Case

Introduction The Inception of Insolvency and Bankruptcy code [IB Code] was envisaged as a historical moment in the Indian corporate sector as it is a single uniform comprehensive legislation that aims at a speedy solution to corporate insolvency through an established time bound procedure, early identification of financial failure, and other such broader reforms that […]

Jaypee Infratech Insolvency Case

Introduction The Inception of Insolvency and Bankruptcy code [IB Code] was envisaged as a historical moment in the Indian corporate sector as it is a single uniform comprehensive legislation that aims at a speedy solution to corporate insolvency through an established time bound procedure, early identification of financial failure, and other such broader reforms that […]

Macquarie Bank Limited vs. Shilpi Cable Technologies

Facts of the Case The Corporate Debtor/Respondent (Uttam Galva Metallics) defaulted in the payment to the Operational Creditor/Appellant (Macquarie Bank) amounting to USD 6,321,337 equivalent to Rs. 43,11,15,190. Although repeated reminders as to the payment of the debt via emails were made, such communications could not influence the Debtor to make the payment, pursuant to […]