National Company Law Appellate Tribunal, Chennai (“NCLAT”), in the matter of Mr. Thomas George v. K. Easwara Pillai and Others [Company Appeal (At)(Ch) (Insolvency) No. 293 of 2021], held that Section 66 (Fraudulent trading or wrongful trading) of Insolvency and Bankruptcy Code, 2016 (“IBC”) does not provide for any look-back period on how far back […]
The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) has in its order dated November 29, 2022 (“Order”), in the matter of Ashok Mahindru and Another v. Vivek Parti [Company Appeal (AT) (Insolvency) No. 1324 of 2022], held that Section 96(1)(b) (Interim-moratorium) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) does not stay any […]
The High Court of Delhi (“High Court”), in its judgment dated December 15, 2022 in the matter of Brilltech Engineers Private Limited v. Shapoorji Pallonji and Company Private Limited [Arb. P. 790 / 2020], has held that invocation of proceedings under the relevant provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”) seeking initiation of […]
Background Digital marketplaces, their users and sectoral regulators are moving towards a new market paradigm of the cyber-economy. Information technology (“IT”) is constantly evolving in magnitude and regulators frequently have to react and catch up with market practices. Data driven business models have propelled digital platforms to an unprecedented scale. Platforms like Meta, Google and […]
The National Company Law Appellate Tribunal, Principal Bench (“NCLAT”) in its judgement dated November 2, 2022 (“Judgement”), in the matter of Assam Tea Employees Provident Fund Organization v. Mr. Madhur Agarwal and Another [Company Appeal (AT) (Insolvency) No. 262 of 2022] held that provident fund (“PF”) dues are not the assets of the corporate debtor […]
The National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has in its judgment dated November 10, 2022 in the matter of Chipsan Aviation Private Limited v. Punj Lloyd Aviation Limited [Company Appeal (AT) (Ins) No. 261 of 2022] held that an advance paid towards availing of service falls within the definition of operational debt in […]
