Learning Curve Learning Curve Title
  Learning Curve 1
dated 06.02.2019
NCLT has no jurisdiction to analyse the Resolution Plan
  Learning Curve 2
dated 07.02.2019
Insolvency & Bankruptcy Code has over-riding effect on Prevention of Money Laundering Act, 2002.
  Learning Curve 3
dated 08.02.2019
Bidders of stressed firms can raise Foreign Currency Funds to repay the Debt.
  Learning Curve 4
dated 11.02.2019
Insolvency Resolution Professional has powers of a Court Officer.
  Learning Curve 5
dated 12.02.2019
Debt does not stand barred by Limitation if existing as liability in the books of the Corporate Debtor.
  Learning Curve 6
dated 13.02.2019
Section 11 is of limited application and only bars a corporate debtor from initiating a petition under Section 10 of the Code.
  Learning Curve 7
dated 14.02.2019
NCLT Mumbai imposes a cost of Rs. 10 lacs on Corporate Applicant for suppression of material facts.
  Learning Curve 8
dated 15.02.2019
Non-issuance of NOC by the Chartered Accountant, without assigning any cogent reason, is unprofessional and unethical.
  Learning Curve 9
dated 18.02.2019
Whether NCLT has jurisdiction to direct the Central Government to make investigation through SFIO.
  Learning Curve 10
dated 19.02.2019
Any party can approach NCLT directly for the settlement or withdrawal of Corporate Insolvency Resolution Process before the constitution of Committee of Creditors.
  Learning Curve 11
dated 20.02.2019
Financial Creditor was directed by NCLT to deposit a sum of Rs. 2 Lacs with IRP to meet out the public announcement expenses.
  Learning Curve 12
dated 21.02.2019
The demand notice under section 8(1) of the Code can be served on the Corporate Debtor either at their Registered Office or their Corporate Office to be treated as a valid service of notice.
  Learning Curve 13
dated 22.02.2019
Amount disbursed as loan by a shareholder for the development of assets of the Corporate Debtor shall fall under the purview of Financial Debt.
  Learning Curve 14
dated 25.02.2019
NCLT dismissed application of Operational Creditor posing as Financial Creditor and colluding with Corporate Debtor.
  Learning Curve 15
dated 26.02.2019
NCLAT held that NCLT has no power either to convert CIRP into fast track CIRP and extending CIRP period beyond 270 days, or to reduce the fees and expenses of an RP which has already been approved by CoC.
  Learning Curve 16
dated 27.02.2019
No CIRP proceeding could be initiated against a company that is not in existence on the rolls of ROC.
  Learning Curve 17
dated 28.02.2019
If the Resolution Plan is not considered by the CoC in accordance with law, it is the duty of the Adjudicating Authority to remand the matter to CoC for reconsideration. Further in case of liquidation, before taking steps to sell to the assets of Corporate Debtor, the liquidator shall take steps in terms of Section 230 of Companies Act, 2013.
  Learning Curve 18
dated 01.03.2019
NCLT allowed Financial Creditor to recover the amount from the suspense account of the Corporate Debtor after commencement of CIRP.
  Learning Curve 19
dated 05.03.2019
Persons entitled to file application on behalf of Financial Creditor for initiation of Corporate Insolvency Resolution Process against Corporate Debtor includes its guardian, executor or administrator of estate, a trustee and person authorized by Board of Directors.
  Learning Curve 20
dated 06.03.2019
Assets which are only transferred (and not sold by the CD to its holding company could be included in the liquidation process of Corporate Debtor/ Subsidiary Company.
  Learning Curve 21
dated 07.03.2019
To ensure a robust Insolvency Eco-system, NCLT imposes a heavy cost on unsuccessful bidders inferring mala fide intentions on their part; directs IBBI to form suitable guidelines.
  Learning Curve 22
dated 08.03.2019
An act of “Appointment of Forensic Auditor” during CIRP has to be approved by CoC with a minimum of 51% voting share.
  Learning Curve 23
dated 11.03.2019
NCLT annuls Resolution Plan for default and provides for fresh EOI allowing exclusion of 105 days from CIRP period.
  Learning Curve 24
dated 12.03.2019
A Buyer who enters into an Agreement / MOU with a Builder and is promised assured return, comes within the meaning of “Financial Creditor” as defined in section 5(7) of the IBC: Explanation added to Section 5(8)(f) by virtue of Amendment Act 26 of 2018 is a mere recognition of such position.
  Learning Curve 25
dated 13.03.2019
An objection by the Shareholders (Promoters) claiming “Discrimination” cannot be sustained even when no amount is provided for them under the Resolution Plan.

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