ILB is an initiative of GLC & Partners

HomeTagMoratorium Archives - Indian Law Blog

** This blog was co-published as a news item on https://legaldesire.com/insolvency-process-can-continue-despite-assets-of-corporate-debtor-being-attached-by-ed/ The case for the Applicant Resolution Professional was argued by one of our members – Counsel Krishna Grandhi of GLC & Partners. The National Company Law Tribunal (NCLT), Hyderabad Bench, has delivered an important ruling impacting several ongoing tussles between the Prevention of Money...

In the case of Canbank Factors Ltd. Vs. Dharmendra Kumar (Company Appeal (AT) (Insolvency) No. 789 of 2018) the NCLAT held any kind of debt cannot be recovered during the moratorium period. On 28th February 2018 Corporate Insolvency Resolution Process (CIRP) was initiated against M/s IAP Company Pvt. Ltd. and moratorium was passed. However, it...

The moratorium period under Section 14 of The Insolvency and Bankruptcy Code, 2016 (“IBC”) talks about various proceedings and transactions that are given a pause while Corporate Insolvency Resolution Process (“CIRP”) is in process. The rationale behind such prohibition is to let the negotiations take place without any restriction which might occur due to destruction...

With an increase in number of cases under Insolvency and Bankruptcy Code, 2016 (“IBC”), the personal guarantors in order to protect their assets, have tried to come under the protection of the moratorium period under Section 14 of the IBC which refers to prohibition of four matters, institution or continuation of proceedings; the transferring, encumbering...

Power Grid Corporation of India Ltd. vs Jyoti Structures Ltd (O.M.P. (COMM) 397/2016) FACTS: upon a dispute between the petitioner and the respondent, they have agreed between themselves to resolve the dispute through arbitration. The Arbitral Tribunal passed an award in favour of the Respondent company. The award is a simple money decree in favour...