NCLAT Delhi held that section 33 of Insolvency and Bankruptcy Code, 2016 (IBC) empowers the CoC to decide to liquidate the Corporate Debtor any time before the confirmation of the resolution plan by the Adjudicating Authority.
Adjudicating Authority rejected the Application. Adjudicating Authority held that Section 7 Application need to be decided, the commencement of the Arbitration Proceeding before or after filing of Section 7 Application is immaterial.
Assessee- TAAI filed the appeal under Section 53B of the Competition Act, 2002, challenging the Competition Commission of India‘s (CCI) order dated 8.05.2020 alleging that the Department of Expenditure, Government of India, the Respondent No. 2, Balmer Lawrie & Co. Ltd.
The CoC resolved not to initiate liquidation process and decided to file an application for dissolution of the CD. In pursuance of the resolution passed by the CoC in its fifth Meeting dated 29.04.2024, an IA was filed by the RP which came to be rejected by the Adjudicating Authority.
In Bank of Baroda Vs Ajit Kumar, NCLT Mumbai rules that lack of NOC doesn’t nullify security documents during insolvency proceedings.
Appeal filed by Meir Commodities challenging NCLT Hyderabad order allowing Narayanam Nageswara Rao to participate as a Resolution Applicant in CIRP.
Neon Laboratories Ltd Vs Mayank Shah & Anr. (NCLAT Delhi) In a recent judgment, the National Company Law Appellate Tribunal (NCLAT) in Delhi dismissed the insolvency petition filed by Neon Laboratories Ltd., marking a significant development in the case involving the operational creditor and Mayank Shah. The decision came as a result of an appeal […]
NCLAT dismisses Shakir’s appeal, upholding procedural limits on delay condonation based on the timing of receiving court orders.
NCLAT closes CIRP for Jaypee Healthcare as creditor claims are settled. The tribunal’s order supports final disbursements and halts insolvency proceedings.
NCLAT Chennai held that failure to make payment as per repayment plan grants liberty to the creditor to initiate action under section 121 of the Insolvency and Bankruptcy Code. Thus, action of creditors cannot be faulted.
