Between The Lines - December 2023

KEY HIGHLIGHTS

• Supreme Court: Rents receivable can be assigned by a debtor to a creditor as actionable claim.
• Supreme Court: The constitutional validity of provisions of IBC pertaining to the personal guarantors upheld.
• NCLAT: An operational creditor who is a participant in meetings of the CoC has no right to seek a copy of the information memorandum.
• Kerala High Court: An insolvency application filed by satisfying the statutory procedural requirements and without any defects, gives effect to moratorium, and mere uploading of an application cannot be taken as filing of an application under Section 96 of IBC.

I. SUPREME COURT: RENTS RECEIVABLE CAN BE ASSIGNED BY A DEBTOR TO A CREDITOR AS ACTIONABLE CLAIM.