NCLAT Delhi affirms eviction of Nazru S Basheer from Pancard Clubs hotel property after agreement expiry & resolution plan approval under IBC.
NCLAT Chennai rules a second Section 95 IBC application against a personal guarantor is barred if one is already pending. Decision cites prior precedent from Section 96 IBC.
NCLAT Chennai dismissed Think & Learn’s appeal against an NCLT order concerning shareholding in Aakash Educational Services, citing it as consensual and interlocutory.
NCLAT Delhi rules on Uttam Galva Steels case, disallowing joint operational creditor applications and lawyer issued demand notices under IBC.
NCLAT Delhi held that continuing Corporate Insolvency Resolution Process [CIRP] not justified as Corporate Debtor has sufficient funds to discharge the admitted claims of CoC. Thus, adjudicating authority rightly terminated CIRP of Corporate Debtor.
Appellant was notified by mail that the respondent had deposited Rs. 20 lakhs into the appellant’s account while the tribunal’s proceedings were still pending. Appellant argued that Rs. 20 lakh had been deposited without its consent and that it would be willing to reimburse the money.
NCLAT Delhi dismisses appeal by Bijay Pratap Singh, affirming the admission of CIRP against Unimax International over unpaid operational debt to Unimax International.
NCLAT Chennai upholds rejection of Dr. Thoyajakshi Bai Sakranaik’s plea against Patanjali Hospitals, citing continuous breach of service contract and conduct detrimental to the company.
NCLAT Delhi held that once moratorium is declared, suspended management is also strictly prohibited from directly or indirectly deploying the funds of the Corporate Debtor unilaterally, without the authorisation of IRP, to clear any dues of any Financial Creditor or Operational Creditor.
NCLAT Delhi held that claim of gratuity with interest was fully included within the meaning of operational debt under section 5(21) of the Insolvency and Bankruptcy Code, 2016 [IBC] and accordingly, application under Section 9 of IBC was fully maintainable.
