Need a new search?

If you didn't find what you were looking for, try a new search!

Relief to Employees Under IBC: NCLAT Set Aside Liquidation Order

By |2019-09-24T16:21:20+05:30September 17th, 2019|Insolvency(IBC)|

INTRODUCTION In a very recent judgment, the Hon’ble NCLAT in the matter of Shweta Vishwanath Shirke & Ors. vs. Committee of Creditors, while dismissing the Order for liquidation of M/s Sterling Biotech, passed by the Adjudicating Authority, Mumbai Bench, has held that Section 29A of IBC is not applicable for entertaining/considering an application under [...]

IBC Section48 -EasyLegalTax

By |2019-09-07T18:20:07+05:30September 7th, 2019|

Section - 48, Insolvency and Bankruptcy Code, 2016 Order in cases of undervalued transactions. * 48. (1) The order of the Adjudicating Authority under sub-section (1) of section 45 may provide for the following:— (a) require any property transferred as part of the transaction, to be vested in the corporate debtor; (b) release or discharge (in [...]

Comments Off on IBC Section48 -EasyLegalTax

IBC Section47 -EasyLegalTax

By |2019-09-07T18:12:57+05:30September 7th, 2019|

Section - 47, Insolvency and Bankruptcy Code, 2016 Application by creditor in cases of undervalued transactions. * 47. (1) Where an undervalued transaction has taken place and the liquidator or the resolution professional as the case may be, has not reported it to the Adjudicating Authority, a creditor, member or a partner of a corporate debtor, [...]

Comments Off on IBC Section47 -EasyLegalTax

IBC Section46 -EasyLegalTax

By |2019-09-07T18:09:45+05:30September 7th, 2019|

Section - 46, Insolvency and Bankruptcy Code, 2016 Relevant period for avoidable transactions. * 46. (1) In an application for avoiding a transaction at undervalue, the liquidator or the resolution professional, as the case may be, shall demonstrate that— (i) such transaction was made with any person within the period of one year preceding the insolvency [...]

Comments Off on IBC Section46 -EasyLegalTax

IBC Section45 -EasyLegalTax

By |2019-09-07T17:21:54+05:30September 7th, 2019|

Section - 45, Insolvency and Bankruptcy Code, 2016 Avoidance of undervalued transactions. 1 45. (1) If the liquidator or the resolution professional, as the case may be, on an examination of the transactions of the corporate debtor referred to in sub-section (2) 2[***] determines that certain transactions were made during the relevant period under section 46, which were [...]

Comments Off on IBC Section45 -EasyLegalTax

IBC Section44 -EasyLegalTax

By |2019-09-21T16:42:08+05:30September 7th, 2019|

Section - 44, Insolvency and Bankruptcy Code, 2016 Order in case of preferential transactions. * 44. (1) The Adjudicating Authority, may, on an application made by the resolution professional or liquidator under sub-section (1) of section 43, by an order : (a) require any property transferred in connection with the giving of the preference to be [...]

Comments Off on IBC Section44 -EasyLegalTax

IBC Section43 -EasyLegalTax

By |2019-09-21T16:41:59+05:30September 7th, 2019|

Section - 43, Insolvency and Bankruptcy Code, 2016 Preferential transactions and relevant time. * 43. (1) Where the liquidator or the resolution professional, as the case may be, is of the opinion that the corporate debtor has at a relevant time given a preference in such transactions and in such manner as laid down in sub-section [...]

Comments Off on IBC Section43 -EasyLegalTax

IBC Section42-EasyLegalTax

By |2019-09-21T16:41:48+05:30September 7th, 2019|

Section - 42, Insolvency and Bankruptcy Code, 2016 Appeal against the decision of Liquidator. 2 42. A creditor may appeal to the Adjudicating Authority against the decision of the liquidator 3[accepting or] rejecting the claims within fourteen days of the receipt of such decision. Click here [SECTION 43:- IBC ]

Comments Off on IBC Section42-EasyLegalTax

IBC Section42

By |2019-09-21T16:41:45+05:30May 23rd, 2019|

Section - 42, Insolvency and Bankruptcy Code, 2016 Appeal against the decision of Liquidator. 2 42. A creditor may appeal to the Adjudicating Authority against the decision of the liquidator 3[accepting or] rejecting the claims within fourteen days of the receipt of such decision.

Comments Off on IBC Section42