NCLAT quashes NCLT order permitting financial creditor to amend date of default in IBC S7 application, ruling it improper when the original date was disputed & affected limitation.
NCLAT Delhi dismisses HDFC Bank’s appeal to exclude mortgaged units from a resolution plan, citing lack of locus and issue with third party.
NCLAT Delhi states an IBC Section 9 application by an operational creditor cannot be rejected solely because they possess a decree for the unpaid debt.
NCLAT Delhi clarifies that the Committee of Creditors (CoC) is not restricted to a single modification of resolution plans during CIRP.
NCLAT Chennai rejects M.K. Rajagopalan’s appeal against the approval of S. Rajendran’s resolution plan for Vasan Health Care, citing lack of locus standi as an unsuccessful applicant.
NCLAT Delhi held that no default falling within the prohibited period of Section 10A of the Insolvency and Bankruptcy Code can form basis for initiating CIRP. Accordingly, section 9 application rightly rejected.
NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code [IBC] is not maintainable due to pre-existing dispute between the parties. Accordingly, the appeal is dismissed.
NCLAT Delhi held that initiation of Corporate Insolvency Resolution Process (CIRP) for failure to honour repayment obligation justified since application filed within limitation period. Accordingly, present appeal dismissed.
NCLAT Chennai held that initiation of the IRP proceeding u/s. 95 of Insolvency & Bankruptcy Code, 2016 against personal guarantor upheld as no principle of natural justice has been violated, and that the Resolution Professional has given sufficient opportunities.
NCLAT Chennai held that post completion of liquidation process and property of Corporate Debtor is handed over to Successful Auction Purchaser, order u/s. 33(2) of Insolvency and Bankruptcy Code, directing liquidation of corporate debtor’s cannot be revoked.
