REEDArticles
Latest Legal and Scholarly Articles and Opinions on Insolvency, Bankruptcy and Banking laws
Mar 12, 2024
Supreme Court's Interpretation on the Forfeiture of Earnest Money in Auction Sale under th...
The Supreme Court recently addressed appeals concerning the forfeiture of earnest money deposit by a Nationalized Bank in a property auction. The case involved the bank conducting an e-auction of a property and declaring the respondent as the successful bidder. However, the respondent failed to pay the balance amount within the stipulated time, leading to the cancellation of the sale and forfeiture of the earnest money.
REEDLAW
Mar 8, 2024
Ensuring Transparency in Insolvency Proceedings: A Call for Equitable Information Access...
Recent observations have unveiled a concerning issue: certain RPs have neglected to share this crucial report with both debtors and creditors, creating an information imbalance. In response, a circular has been issued under section 196 of the Code, urging RPs to share their reports with both parties involved. This article delves into the significance of this circular and the implications it holds for the insolvency resolution process.
REEDLAW
Mar 8, 2024
Shaping the Future: A Comprehensive Framework for Mediation in Insolvency and Bankruptcy...
The IBBI released a transformative report on January 31, 2024. This report, crafted by an Expert Committee constituted by the IBBI, unveils a groundbreaking "Framework for Use of Mediation under the Insolvency and Bankruptcy Code, 2016."
REEDLAW
Mar 6, 2024
Striking the Judicial Balance: Kerala High Court's Examination of Article 227 and Alternat...
Kerala High Court's recent judgment delicately navigates the balance between Article 227 powers and statutory remedies in SARFAESI Act cases. Emphasizing exceptional circumstances, the court upholds the hierarchical structure, safeguarding against misuse of constitutional powers while ensuring judicious review of tribunal jurisdiction.