Declaring NPA And Wilful Defaulter: A Banker’s Obligation
Banks are evaluated on their standard of assets as well as their number of branches and deposit volume. Today, one of the major concerns for Indian banks are Non-Performing Assets (NPAs), as NPAs have detrimental effect on the bank’s earnings, liquidity and solvency. Failure in the banking industry could have a negative effect on several […]
Interplay between Moratorium under IBC and issuance of Sale Certificate under SARFAESI Act
As soon as the application of Corporate Insolvency Resolution Process (CIRP) is admitted under Section 7, 9 or 10 of the Insolvency and Bankruptcy Code (IBC/Code), a moratorium in terms of Section 14 of the Code is to be declared by the Adjudicating Authority and a public announcement under Section 13 is made declaring the […]
Withdrawal under Section 12-A IBC: Remedial Mechanism in the Interest of Stakeholders
The sole objective of the Insolvency and Bankruptcy Code, 2016 (IBC or the Code) is to provide an eloquent manner for revival, reorganisation, and resolution of distressed or bankrupt entities/persons in a time-bound manner. The very contemplation, advancing a time-bound mechanism for the resolution process makes it distinct from the previously existing laws relating to […]
Guarantor Cannot Enjoy ‘Right Of Subrogation’ Even After CIRP Against Principal Debtor Gets Concluded: NCLT Hyderabad
The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Dr. N. Venkata Ramakrishna Badarinath (Judicial Member) Shri Veera Brahma Rao Arekapudi (Technical Member), while adjudicating a petition filed in State Bank of India v Shri. Ghanshyam Surajbali Kurmi, has held that a guarantor cannot enjoy a right of subrogation even after the Corporate… Read […]
NCLT | Can a Financial Creditor initiate Insolvency Resolution Process against a Personal Guarantor?
National Company Law Tribunal, Hyderabad: The Bench of N. Venkata Ramakrishna Badarinath, Judicial Member, and Veera Brahma Rao Arekapud, Technical Member held that a guarantor cannot enjoy the right of subrogation enunciated in the Contract Act, 1872, when the payment made by the guarantor regards the debt for which the guarantee was provided. The company […]
Ind Barath Power Infra Ltd. Vs. India Infrastructure Finance Co. Ltd. – NCLT Hyderabad Bench
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NCLT extends CIRP periods by 7 months for compliance of IBBI amendments and filing fresh Resolution Plan
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First Committee On Wilful Defaulters Not Obligated To Mention Its Composition In Its Order: Telangana High Court
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NCLT Rules 43 Only Empowers AA To Seek Production Of A Document, Not Parties : NCLT Hyderabad
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NCLT Hyderabad Grants A Series Of Concessions/Waivers To The Successful Bidder
The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Sri Satya Ranjan Prasad (Technical Member), while adjudicating a petition filed in State Bank of India v K.R.R Infraprojects Pvt. Ltd., has granted several waivers/concessions to the Successful Bidder including waiver from penalties imposed… Read the […]
