Insolvency proceedings does not prevent Corporate Debtor from filing an application under Section 11 of Arbitration and Conciliation Act, 1996 against another party – Godavari Projects (J.V) Vs. Union of India – Delhi High Court. In the case of Godavari Projects (J.V) Vs. Union of India, heard in the Delhi High Court, the proceedings revolved […]
PREPACK INSOLVENCY WHY IS PREPACK INSOLVENCY A PANACEA FOR MICRO, SMALL AND MEDIUM CORPORATES. The Scheme in brief: • The borrower has to be a corporate body and must have committed default of a minimum Rs.10 lacs and maximum Rs.1 Cr. • Pass a Special Resolution that the company will file an application before NCLT […]
An interesting question came up before the SC, on the right to claim set-off in the Corporate Insolvency Resolution Process, when the Resolution Professional proceeds in terms of clause (a) to sub-section (2) of Section 25 of the Insolvency and Bankruptcy Code, 2016 to take custody and control of all the assets of the corporate […]
