The Fast-Moving Consumer Goods (FMCG) sector is a cornerstone of the Indian economy, providing essential products to millions of consumers. However, like any industry, it is not immune to financial instability. The insolvency of a major FMCG company can have a devastating ripple effect throughout the entire supply chain, severely impacting distributors, retailers, and even... Continue Reading →
The Indian automotive industry boasts a vibrant ecosystem of manufacturers, dealers, and component suppliers. However, even in this robust landscape, unforeseen circumstances can arise. One such scenario is an automaker insolvency, which can trigger a domino effect, leaving franchise dealers and component suppliers grappling with financial losses and operational disruptions. This article delves into the... Continue Reading →
The Indian construction industry is a dynamic engine of growth, but it's not without its challenges. One significant hurdle for subcontractors and suppliers lies in the unfortunate reality of construction company insolvencies. When a main contractor goes belly up, the financial shockwaves can ripple down the supply chain, leaving subcontractors and suppliers holding the bag... Continue Reading →
he Hon’ble NCLAT accordingly held that the total amount for maintainability of claim would include the principal debt amount as well as the interest on delayed payment, which was also clearly stipulated in the invoice.
The issue whether entries/ disclosures made in financial statements could be construed as an “acknowledgment” under Section 18 of the Limitation Act, came up for consideration before NCLAT. While this issue had been previously considered by various courts and tribunals, there was some ambiguity...
However, the Apex Court also, observed that the moratorium provision under Section 14 of the Code would apply only to the corporate debtor while the natural persons mentioned under Section 141 of the NI Act continue to be statutorily liable under the NI Act.
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