Section 238 of ibc

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August undefined, 2024

WebThe corporate debtor, in turn, filed another application saying notice has not been served to the debtor. (Para 14) V. The Corporate Debtor claimed that this code can't over ride the … Web9 May 2024 · Parul is a Final year Law student. She is dedicated and versatile student pursuing Bachelor's in Law from Jamnalal Bajaj School …

The Game of Jurisdictions: Arbitration and Insolvency Proceedings

Web13 Dec 2024 · Section 238A of the Insolvency and Bankruptcy Code 2016 (IBC) makes the provisions of the Limitation Act 1963 applicable, "as far as may be", to proceedings or … Webhit by Section 14 of IBC. Alternatively, even if for any reason it was to be held that Section 14 of IBC would not help, it appears to us that Section 238 of IBC would still apply. Although it is argued that PMLA is a special statute and has an overriding effect still Section 238 of IBC is also a special statute and which is subsequent statute. red oil based barn paint

IBC Case Law Capsule - iiipicai

WebSince, no independent definition has been given in IBC,2016 for these terms, hence section 238 of IBC cannot be applied. Also the recovery of the debt is not the purpose of IBC, hence, any ... Webhit by Section 14 of IBC. Alternatively, even if for any reason it was to be held that Section 14 of IBC would not help, it appears to us that Section 238 of IBC would still apply. Although … red o hours

IBC: Can IBC override existing contracts? Why giving primacy to ...

Web18 Jan 2024 · The NCLAT decision places emphasis on Section 238 to hold that the provisions of the PPA must yield to statutory provisions of the IBC. However, the … Web10 Jan 2024 · Insolvency & Bankruptcy Code, Section 238: Exploited or Rightly Used. Vishal Vyas. 2024-01-10. 4 min read. Section 238 of the Insolvency and Bankruptcy Code, 2016, … red oil base floor sweepWeb31 Mar 2024 · SC, however, read the expression “as far as maybe” as used in section 238A of IBC as a conscious choice of words by the legislature. As such, the words are to be … rich crest apts

"WebWe analyse how an overreaching applicability of Section 238 of the IBC, 2016 can go against the public policy of India of respecting the sanctity of a contract and party autonomy. We do this by analysing the position of law w.r.t considerations involved in deciding on an application under Section 7 of the IBC, 2016 when countered with an… " - Section 238 of ibc

Section 238 of ibc

Supreme Court revisits section 238A of IBC - Commentary

Web4 Feb 2024 · The process of recovery under any insolvency law is nullified as soon as a company files for liquidation under the IBC. That is to say, IBC takes precedence over any … Web16 Feb 2024 · Thirdly, SC has consistently held in various cases that the ‘non-obstante clause’ under Section 238 is of the ‘widest amplitude’, giving the provisions of IBC such as …

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Web10 Apr 2024 · The criticism that section 238 of the Code should have been read strictly, and therefore, should have prevailed was untenable in the present set of facts. There was no ‘default’, and hence, it was appropriate to refer the dispute between the parties to arbitration for ascertaining the value and adjudicating the dispute between the parties. Web4 Apr 2024 · It said that Section 238 of the IBC, says: “The provisions of this Code shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the …

WebWith section 238 of the IBC in place, which clearly states that provisions of this Code are to override other laws, it would be appropriate for all stakeholders to read the lines of the Code rather than reading in-between the lines. Show less See publication. Insolvency Professionals – An IBC Pillar Whose Systemic Support Needs Upgradation ... Web16 Mar 2024 · IBC is a complete Code and as per Section 238 of IBC it has overriding effect on other laws: NCLAT By Legal Era Corporation Bank (Appellant) filed an Application …

Web10 Mar 2024 · Mahesh Bansal & Ors., the Hon'ble NCLAT on 20.02.2024, has held that the pendency of actions under the SARFAESI Act or actions under RDB Act does not create … Web15 Sep 2024 · The provisions of the Insolvency and Bankruptcy Code 2016 (“IBC”) have, since their enactment, come into conflict with several existing legislations.One such …

Web1 Mar 2024 · It is also relevant to note that Section 238 of the IBC provides for an overriding clause which states that the provisions of the IBC shall have full effect notwithstanding …

Web1 May 2024 · Section 238 of the Insolvency and Bankruptcy Code, which says that the Code overrides any other law, has been held by the National Company Law Appellate Tribunal, … richcrest apartments houston 77060Web11 Apr 2024 · Thereafter, the RP filed an application under Section 60 (5) of the IBC before the NCLT seeking an injunction restraining GUVNL from terminating the PPA. This was allowed by the NCLT resulting in GUVNL restrained from terminating the PPA. The ratio by the NCLT for this was that that PPA is an ‘instrument’ in the meaning of Section 238 of IBC. redo healer nornWeb7 Jun 2024 · Since the introduction of the Insolvency and Bankruptcy Code, 2016 (“Code/IBC”), the courts and tribunals in India have had to constantly assess the application of the Code vis-à-vis other central and state legislations in light of the non-obstante clause under Section 238 of the Code. The courts have time and again reiterated that the Code … redo healingWeb31 Aug 2024 · Section 238 of the Insolvency and Bankruptcy Code, 2016 (IBC) allows the provisions of the IBC to prevail over any other law. The Supreme Court has, on multiple … richcrest animation logoWebSection 238 of IBC outlines the Non-obstante features of the code. The Non-obstante clause of any act empowers the legislation or a provision in which it contains, to override the … re do i find disk cleanup in win 7Web20 Feb 2024 · Even though Section 238 of the IBC provides that IBC overrides all other laws to the extent same are inconsistent with the IBC, since Section 88(3) is not in any manner … red oil based sharpieWeb28 May 2024 · Section 238 of IBC provides that the provisions of IBC will override all the other laws and by virtue of Section 8 of the ACA, the judicial authorities are bound to refer … richcrest animation