After considering submissions made by both parties it is held that there is no dispute that the appellant stood as a guarantor for the loan availed by the CD which has already been admitted into CIRP
NCLAT Delhi held that assignment agreement establishes absolute right of the corporate debtor over the property hence it is part of liquidation estate. Payment of unauthorised sub-letting charges doesn’t mean any valid sub-letting of property.
NCLAT Chennai held that after finalization of process of e-auction sale of Corporate Debtor, it cannot be permitted to consider Scheme of Arrangement proposed under section 230 of the Companies Act.
NCLAT Delhi held that initiated proceedings before the Debts Recovery Tribunal does not preclude Financial Creditors to take remedy under Section 7, which is a special remedy provided under the IBC.
NCLAT held that contempt proceedings can only be maintained if non-compliance is attributable to an individual, rather than company as an inanimate juristic person
NCLAT Chennai dismisses appeal in P. Jayagovind vs Bijoy Prabhakaran case due to full implementation of the resolution plan under IBC Sections 30 & 31.
NCLAT Chennai rules against Lanco Infratech Employees Welfare Association’s claim for retention allowance, emphasizing lack of legal entitlement.
NCLAT dismisses appeal challenging rejection of a resolution plan after a fresh plan was accepted, rendering the appeal infructuous.
NCLAT Delhi held that based on recommendation made by the resolution professional, application under section 95 of IBC, 2016 is admitted. Notably, also held that application under section 95 is preferred within prescribed time limit.
NCLAT Chennai owing to the situation prevailing due to Covid-19, the earnest money should not be permitted to be forfeited, where a subsequent fresh auction has taken place and the property has been sold at a higher price.
