NCLAT: Lease and Rental dues do not constitute Operational Debt under the Insolvency and Bankruptcy Code
This declared by the NCLAT in the case of Ravindranath Reddy v. G. Kishan. In this case, an appeal before the National Company Law Appellate Tribunal (NCLAT) was filed by Mr. Ravindranath Reddy, the director of M/S Walnut Packaging...
Reverse Corporate Insolvency Resolution Procedure [Reverse CIRP]: A Novel Experiment Conducted By The NCLAT
The Insolvency and Bankruptcy Code, as mentioned in the objects and reasons, was enacted to provide effective resolution procedure for timely resolution of debtors, and to maximise the value of the debtor’s assets. To pursue these objects, it provides...
The scramble for the leadership at the TATA Sons which began with the ouster of Cyrus Mistry from the Chairmanship of TATA Industries on 24th October has seen various events till date. It led to the removal of the...
The government will spend around Rs. 1000 Crore for the new parliament building, right in the center of India’s capital.
In the recent past, our government has come up with three different ordinances related to agriculture which has infuriated the farmers of our nation.
Sony Pictures Networks India Private Limited is looking to hire an Associate with 3-5 years of PQE from Media and Entertainment Industry, preferably with...
Section 34 of the Arbitration and Conciliation Act, 1996 (Hereinafter “Act”) lays down the basis for setting aside arbitral awards made in domestic and foreign arbitrations held in India. Though international awards cannot be contested in India, the compliance of such awards in India may be validly challenged by the award debtor on the grounds set out in Section 48 of the Act. The grounds set under both these sections are almost similar, one of the grounds being that the arbitral award is found contrary to the “public policy of India”. The question of the constituent elements of “public policy” have been discussed in a number of cases, however, in a recent case of Vijay Karia & Ors. V. Prysmian Cavi E Sistemi Srl & Ors, the SC drew attention to this point viz-a-viz foreign award.