NCLAT Delhi held that since existence of financial debt and default thereon is established, the adjudicating authority has rightly admitted section 7 application under the Insolvency and Bankruptcy Code. Accordingly, appeal dismissed.
NCLAT Delhi held that application for liquidation of Corporate Debtor should be proceeded as there was sufficient ground to hold that resolution plan is not implemented. Accordingly, the appeal is dismissed.
NCLAT Delhi held that debt and default on the part of Corporate Debtor proved and hence application under section 7 of the Insolvency and Bankruptcy Code duly admissible. Thus, appeal dismissed and order of adjudicating authority upheld.
NCLAT Delhi held that proposed sale in the form of private sale to related party being not in conformity with Regulation 33 of IBBI (Liquidation Regulations), 2016 hence order of Adjudication Authority allowing such private sale is liable to be set aside.
NCLAT Delhi held that restoration application rightly dismissed as personal guarantor was trying to abuse the process of law by misusing the moratorium available to him under section 96 of the Insolvency and Bankruptcy Code.
The Appellants submitted that there were multiple violations of Section 30(2) of the Code, which prohibits the CoC from approving a plan that violates many laws and many provisions of the Code and Regulations.
NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code rightly dismissed as debt fell within restricted period under section 10A. accordingly, order of Adjudicating Authority upheld.
CIRP against the Corporate Debtor-Rajesh Cityspaces Private Limited commenced on 15.01.2024. Mr. Ajit Gyanchand Jain- Respondent No.1 was appointed as Interim Resolution Professional (IRP).
NCLAT Delhi admits Exclusive Capital appeal, ruling NCLT decisions on jurisdiction and administrator appointment are subject to NCLAT appeal and Supreme Court orders.
The NCLAT has dismissed an appeal by suspended directors of Satra Properties, upholding an NCLT order to recover ₹2.65 crore in a fraudulent transaction.
