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.
NCLAT Delhi held that by approval of the Resolution Plan, all dues and claims of pre-CIRP stand extinguished. Thus, appellant is not entitled for recovering any dues from respondent which relate to pre-CIRP period.
NCLAT Delhi held that invocation of guarantee subsequent to initiation of CIRP cannot be the base for any claim to be admitted in the CIRP. Accordingly, appeal allowed and order passed by adjudicating authority set aside.
NCLAT Delhi held that Liquidator is jurisdictionally empowered to proceed with private sale of Corporate Debtor by adopting Swiss Challenge Mechanism. Thus, adjudicating authority didn’t commit any error in allowing application filed by Liquidator.
