NCLAT Delhi held that liquidator duly allowed to remove all the movable assets of the Corporate Debtor lying at the leased premises since appellant/lessor never raised any objection regarding ownership of assets either during CIRP or during liquidation proceeding.
NCLAT Delhi held that in terms of regulation 33(2)(d) of the Liquidation Process Regulations [LPR], liquidator is required to obtain prior permission of the Adjudicating Authority for conduct of private sale. Here, since prior permission is not obtained the same tantamount to an infraction of LPR.
The NCLAT Delhi held that adverse observations made against an IRP in NCLT proceedings should not affect his reputation when no opportunity to respond was given.
NCLT Delhi held that insolvency of real-estate project is to be held project-specific. Accordingly, order set aside and matter revived before Adjudicating Authority to consider section 7 petition afresh.
NCLAT set aside NCLT Kolkata’s order and held that ICICI Bank’s overdraft facility backed by fixed deposits constituted a valid security interest.
NCLAT Delhi held that patent-related issues fall under the Patents Act, not the Competition Act, dismissing an appeal alleging anti-competitive conduct by Vifor International AG.
The NCLAT Delhi upheld the NCLT’s decision denying a suspended director access to discarded valuation reports of Winsome Yarns, clarifying that only CoC members are entitled to such documents.
The NCLAT dismissed Trinity Auto Components Ltd.’s appeal seeking enforcement of benefits under the BIFR scheme. The Tribunal held that the approved resolution plan under IBC replaced the earlier rehabilitation scheme, extinguishing all prior claims. It reiterated that no dual benefits can be claimed after IBC plan approval.
NCLAT Delhi held that initiation of Corporate Insolvency Resolution Process by admitting application u/s. 7 justifiable since application duly filed within 3 years of ‘Promise to Pay’ under section 25(3) of the Indian Contract Act, 1872. Accordingly, appeal dismissed.
NCLAT Delhi held that mediation family settlement upheld since entire sum as per consent terms duly received. Accordingly, the appeals are dismissed.
