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NCLT conclude that in Section 10 proceedings, though there is no mandatory requirement of issuing notice to the Creditor(s) at the pre-admission stage, rather giving notice to the Creditor(s) is a matter of discretion to be exercised on a case-to-case basis on valid grounds.
NCLT held that Applicant is not even a stakeholder in respect of the Corporate Debtor and, a complete third-party to the proceedings before this Tribunal and has no locus standi to question initiation of proceedings under Section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor.
Ramchandra Dalaram Choudhary RP of Anil Mega Food Park Pvt Ltd Vs M2K Developers Pvt. Ltd. (NCLT Ahmedabad) NCLT Ahmedabad rejected approval of Conditional Resolution Plan of Anil Mega Food Park Pvt Ltd Hon’ble National Company Law Tribunal (NCLT), Ahmedabad in IA 843/2021 filed by Ramchandra Dalaram Choudhary RP of Anil Mega Food Park Pvt […]
It is also alleged that the accused persons failed to cooperate and provide any assistance even to the statutory and forensic auditors of the Corporate Debtor during Corporate Insolvency Resolution Process.
Indian Bank (Appellant) Vs Charu Desai (NCLAT) Commercial wisdom of Committee of Creditors (CoC) for amount to be paid to different classes or subclasses of creditors in accordance with provisions of the IB Code and the related Regulations. Hon’ble National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi in Company Appeal No. 644 of […]
NCLAT taken view that in ‘CIRP’ Process, Project-Wise Resolution to be started as a test to find out the success of such Resolution. Keeping an eye regarding construction and completion of the projects
Whether after approval of the Resolution Plan by Committee of Creditors (CoC), the claim of the creditors stood extinguished?
Section 7 application under IBC 2016 is not maintainable in case of lack of written document / evidence in the form of loan agreement, promissory note, contract or any document to substantiate its claim that there was a financial debt and a default of the same
NCLT held that default of payment of settlement agreement do not come under definition of Operational debt under IBC 2016
It is an admitted position that the Corporate Debtor hypothecated its assets in favour of indirect lenders under the DoH to secure the loans disbursed by them to the RCOM entities.
