Properties sold in an auction-sale under the SARFAESI Act before declaration of moratorium under the IBC cannot be treated as liquidation asset: SC
AMENDMENTS TO SEBI REGULATIONS ON NON-CONVERTIBLE SECURITIES
The liquidator, to carefully weigh relevant factors while choosing not to accept the highest bid: Supreme Court
High Court can quash a non-speaking order of NCLT in a writ, even if appeal is available under section 421 of the Companies Act, 2013: Karnataka HC
The limitation period for appeal commences only when the challenged order gets uploaded on the NCLT’s website: Supreme Court
A revised resolution plan must be reconsidered by the CoC before being submitted for approval to the Adjudicating Authority: Supreme Court
SECURITIES AND EXCHANGE BOARD OF INDIA (EMPLOYEES’ SERVICE) (SECOND AMENDMENT) REGULATIONS, 2024
Borrowers & Credit Institutions disputes, governed by sec. 21(3) of the CIC Act, 2005, mandates updating credit information within 30 days: Madras HC
SEBI INTRODUCES NEW PROCEDURES FOR HANDLING STOCK EXCHANGE OUTAGES AND TRADING HOURS IN COMMODITY DERIVATIVES SEGMENT
NCLT must admit a petition under Section 7 of the IBC when the existence of financial debt and its default by the corporate debtor is established: SC
SEBI DIRECTS PARTICIPANTS’ CONTRIBUTION TO ‘CORE SETTLEMENT GUARANTEE FUND’ OF LIMITED PURPOSE CLEARING CORPORATION
SEBI INTRODUCES A SPECIAL CALL AUCTION MECHANISM FOR LISTED INVESTMENT COMPANIES
The Hon’ble Supreme Court of India settles that creditors cannot set off debts against corporate debtors during CIRP.
SEBI RELAXES MANDATE OF ADDITIONAL DISCLOSURES FOR FPIS HAVING MORE THAN 50% OF ITS INDIAN EQUITY AUM IN A CORPORATE GROUP
The liquidation status of a company does not preclude investigative proceedings under Section 213 of The Companies Act, 2013: NCLT, Bengaluru
SEBI'S DIRECT PAYOUT RULE
SEBI IMPLEMENTS INVESTOR-CENTRIC REFORMS: NON-SUBMISSION OF NOMINATIONS NO LONGER LEADS TO ACCOUNT FREEZES
Rights and interests in immovable property are liable to be included in the CIRP and the resolution professional is bound to take custody: SC
REGULATORY UPDATES FOR REGISTERED INVESTMENT ADVISORS (RIAS)
Discharge of Corporate debtor does not amount to discharge of director/signatory of the cheque: Supreme Court