NCLAT Delhi ruled that a single homebuyer cannot challenge a resolution plan approved by the CoC. The decision follows Supreme Court precedents on insolvency cases.
The plain reading of the above provisions of Section 60(5)(c) clearly indicates that the NCLT is empowered to adjudicate any question of priorities or any question of law or facts arising out of or in relation to the insolvency resolution of the Corporate Debtor.
NCLAT Delhi held that rejection of belated claim by liquidator needs to be challenged under section 42 of the IBC. Relief cannot be seeked by invoking provisions of section 60(5) of IBC as remedy u/s. 42 not restored.
NCLAT Delhi quashes CIRP against Alcuris Healthcare, ruling profit-sharing disputes do not constitute operational debt under IBC. Read the key legal findings.
Notably, the Appellant filed the application under Section 9 of the Code on 18.08.2020 for an amount of Rs. 2,77,68,000/- allegedly due and payable by the Corporate Debtor (CD).
NCLAT Delhi held that any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7. Thus, appeal dismissed and held that application u/s. 7 duly admitted.
NCLAT dismisses appeals in Saturn Ventures case, upholding RP’s findings on asset ownership and rejecting fraudulent transaction claims. Key legal insights inside.
NCLAT clarifies security deposits under MoUs without borrowing effect do not qualify as financial debt under IBC. Read the detailed analysis and judgment highlights.
NCLAT rules charge non-registration under Section 77 doesn’t negate secured creditor status. Upholds claim, differentiating CIRP and liquidation.
NCLAT Delhi denies CoC seat to assignee of related party debt post-CIRP. Ruling emphasizes preventing CIRP sabotage and protecting creditor rights.
