The NCLAT Chennai has dismissed an appeal filed by a shareholder of a company undergoing CIRP, holding that an appeal at the behest of a shareholder is not maintainable.
NCLAT rules that personal guarantees cannot be invoked after a resolution plan, approved by the Committee of Creditors, agrees to their release upon payment.
NCLAT ruled that dues assessed post-moratorium and not claimed during CIRP cannot be enforced against the resolution applicant. Appeal dismissed.
NCLAT Delhi dismisses appeal, ruling that an insolvency process withdrawn under a settlement can be revived if the corporate debtor defaults on the agreed-upon terms.
NCLAT has rejected an appeal by Technio Business Solutions, citing a lack of credible reasons for a 172-day delay in refiling. NCLAT found the explanations to be baseless.
The NCLAT has dismissed an appeal by Saurabh Premprakash Chugh, upholding a lower court’s decision that his second insolvency application was barred by res judicata.
NCLAT Delhi held that Insolvency and Bankruptcy Code [IBC] being a time bound matter, refiling delay in appeals is not condonable without any strong and credible reasons. Accordingly, application for condonation of delay in refiling appeal rejected.
NCLAT Delhi held that appellant as a personal guarantor, has been deliberately avoiding participation in the Section 95 proceedings. Accordingly, initiation of proceeding u/s. 95 of the Insolvency and Bankruptcy Code against personal guarantor duly admitted by NCLT.
NCLAT Delhi held that extension of limitation u/s. 19 of the Limitation Act, 1963 not admissible since there was no acknowledgement by Corporate Debtor. Accordingly, rejection of application under section 9 rightly rejected as time barred.
NCLAT Delhi held that order rejecting application for intervention under section 65 of the Insolvency and Bankruptcy Code is set aside and intervention petition is revived since application is not filed to derail CIRP. Accordingly, appeal disposed of.
