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The court examined whether earlier liquidation orders could be recalled in light of a sanctioned revival proposal. It held that recall was justified after the holding company undertook full liability and the Government raised no objection.
The Court noted NCLT approval of a settlement scheme but held that existing attachment orders under PMLA would continue unless modified by competent authorities.
The Court examined whether an order rejecting a resolution plan could be appealed under the IBC. It held that appeals lie against both approval and rejection orders, directing parties to approach NCLAT instead of invoking writ jurisdiction.
The issue was whether the Court could direct issuance of a tax clarification for an SEZ unit. The Court held that no such direction could be given while the core issue is pending before the Supreme Court.
The Court considered whether funds deposited pursuant to earlier orders could be transferred under a sanctioned settlement scheme. Holding that the NCLT-approved scheme facilitated creditor settlement without overriding criminal proceedings, the Court directed transfer of the deposit to the settlement account.
The Court held that a private commercial bank is not amenable to writ jurisdiction under Article 226. The key takeaway is that disputes with private banks must be pursued before appropriate alternative forums.
The issue was whether absence of a default date invalidates an invoice-based demand notice. NCLAT held that Form-4 notices do not require a specific default date and restored the insolvency application.
The issue was whether disputed receivables could be recovered through NCLT during liquidation. The tribunal held that uncrystallised contractual claims fall outside Section 60(5) of the IBC.
The court held that seizures carried out and served in another state did not give rise to jurisdiction merely because testing and headquarters were in Delhi, directing parties to the appropriate High Court.
The Bombay High Court held that insolvency proceedings against personal guarantors cannot continue before the DRT once CIRP of the corporate debtor is underway. Such proceedings must lie exclusively before the NCLT. The key takeaway is that Section 60 of the IBC overrides DRT jurisdiction in these cases.
