NCLT admits Go First’s plea to initiate the insolvency resolution process (CIRP)
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![NCLT admits Go First’s plea to initiate the insolvency resolution process (CIRP)](https://static.wixstatic.com/media/d515a3_fa239beacb564b4eb01dd2e668cd80e2~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_fa239beacb564b4eb01dd2e668cd80e2~mv2.webp)
![](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
![Plea of violation of RBI Guidelines, even cannot affect the fate of Section 7 Application of the IBC](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- May 8, 2023
- 2 min
Plea of violation of RBI Guidelines, even cannot affect the fate of Section 7 Application of the IBC
![Proceeds from the sale of liquidation assets shall be distributed in the waterfall mechanism: SC](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 7, 2023
- 6 min
Proceeds from the sale of liquidation assets shall be distributed in the waterfall mechanism: SC
![](https://static.wixstatic.com/media/d515a3_5c652e849d8340a28faa1b47e6581ce4~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,lg_1,q_30,blur_30,enc_auto/d515a3_5c652e849d8340a28faa1b47e6581ce4~mv2.webp)
![CMM/ DM does not need to adjudicate any dispute between the borrower, secured creditor & 3rd parties](https://static.wixstatic.com/media/d515a3_5c652e849d8340a28faa1b47e6581ce4~mv2.jpg/v1/fill/w_209,h_183,fp_0.50_0.50,q_90,enc_auto/d515a3_5c652e849d8340a28faa1b47e6581ce4~mv2.webp)
- May 6, 2023
- 2 min
CMM/ DM does not need to adjudicate any dispute between the borrower, secured creditor & 3rd parties
![Hire Purchase transaction in a legal sense is more complex with corresponding rights of the parties](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 5, 2023
- 2 min
Hire Purchase transaction in a legal sense is more complex with corresponding rights of the parties
![Aggrieved party has a remedy u/s 17 of the SARFAESI Act against any step taken by the Bank u/s 13(4)](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 4, 2023
- 6 min
Aggrieved party has a remedy u/s 17 of the SARFAESI Act against any step taken by the Bank u/s 13(4)
![](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
![Dues of operational creditors are to be made in the manner as Insolvency & Bankruptcy Code lays down](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- May 3, 2023
- 2 min
Dues of operational creditors are to be made in the manner as Insolvency & Bankruptcy Code lays down
![](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
![There can be a default by the Principal Borrower and the Guarantor may be a different date: NCLAT](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- May 2, 2023
- 4 min
There can be a default by the Principal Borrower and the Guarantor may be a different date: NCLAT
![Complainant fails to establish the conditions of penal liability set out under Ss. 405, 420, 471 IPC](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- May 1, 2023
- 3 min
Complainant fails to establish the conditions of penal liability set out under Ss. 405, 420, 471 IPC
![](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
![Without there being any demand to the Guarantor, the period of limitation cannot be commenced](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- Apr 29, 2023
- 3 min
Without there being any demand to the Guarantor, the period of limitation cannot be commenced