Saanika ( Vasai (W) )
01-May-2026 03:52 PM
Conceptual Clarity on a recent February 26 Judgement under IBC
ICICI Bank Limited Vs Era Infrastructure (India) Limited and connected matters: In this Case, the Supreme Court clarified that a creditor can initiate proceedings under IBC on both the CD and Corporate Guarantor, as the same would not be unfair and unjust. For eg: If an FC (claim 10 crores) is part of the COC in both the CD & it's Corporate Guarantor, and the CIRP of the CD is completed and the payment to the concerned FC is made. ( 3 cr), therefore the FC will have to update it's claim with the RPro of Corporate Guarantor. Will that FC can still be a part of the COC of the Corporate Guarantor for the remaining claim?
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Saanika ( Vasai (W) )
05-May-2026 01:20 PM
Voluntary Liquidation v/s Strike off
A company can go for either when its purpose of running the business has been accomplished or it sees no profitability anymore in the current scope of the business to continue My Company can go for a VL u/s 59 of the Code, by assuring that there are no liabilities to be paid and if yes then we have sufficient provision to pay it off With Strike off, one of the reasons for the company for closure could be the same as above too So how can I differentiate between the both? How do I understand which route would be better and well suited for the closure of the company ?
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Saanika ( Vasai (W) )
12-May-2026 07:03 AM
Strike off & S. 164
A company can be struck off if it hasn't carried on any business operations for 2 years or more What if company X hasn't carried out it's business for 3 years now and therefore didn't file any financial statements or annual statements either ... It wants to proceed with striking off? Can it? And if so then will the director face disqualification for it ? How will it work ?
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