Judgement

Hon’ble Bombay High Court Judgment Dated 04.04.2024 In The Matter Of Amit Gupta V/S. Ibbi & Ors

admin2024-06-04T10:20:57+00:00 The Insolvency and Bankruptcy Board of India issued a Circular on 28th September, 2023 to provide Clarification w.r.t. Liquidators’ fee under clause (b) of sub-regulation (2) of Regulation 4 of IBBI (Liquidation Process) Regulations, 2016. Regulation 4 of the IBBI (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”)...

If A Wilful Defaulter Proceeding Does Not Come Within The Wider Purview Of Section 14 Of The Ibc

admin2024-06-04T10:23:59+00:00 In Atibir Industries Company Limited & Ors. Vs. Indian Bank, the Hon’ble High Court stated that with respect to Section 96 of the IBC, it was clearly observed in Gouri Prasad Goenka (supra) that the moratorium envisaged in Section 14 of the IBC creates no...

Clarity On The Right To Claim Set-Off In The Corporate Insolvency Resolution Process

admin2024-06-04T10:36:06+00:00 The Hon’ble Supreme Court observed that the expression ‘mutual dealings’ for the purpose of Regulation 29 of the Liquidation Regulations, is wider than the statutory set-off postulated under Order VIII Rule 6 of CPC, as well as, equitable set-off under the common law as applicable...

An Agent Who Has Paid To Principal Supplier The Outstanding Amount Due From Corporate Debtor Is An Operational Creditor

admin2024-06-04T10:34:17+00:00 The Appeal was filed by the Agent being a Del Credere Agent (A Person or company that acts as a salesperson and guarantor of credit for the buyer, while receiving commission for selling goods or services for another person or company and becomes liable to...