SC held that the Sale Certificate is merely the evidence of such title and the Auction Purchaser derives title on confirmation of sale in his favour and a Sale Certificate is issued evidencing such sale and title and no further deed of transfer from the Court is contemplated or required.
Mukul Agarwal Vs Royale Resinex Pvt. Ltd. (NCLAT Delhi) Facts- The Operational Creditor supplied poly propylene to the Corporate Debtor as per the demand raised by the Corporate Debtor. Invoices were raised in the name of the Corporate Debtor. The Operational Creditor filed a Civil Suit No.149 of 2015 against the Corporate Debtor for recovery […]
A ‘going concern sale’ on an ‘as is where basis’ does not dissolve the corporate debtor, rather, it forms a part of the liquidation estate wherein the entire business, including assets and liabilities, including all contracts, licences, concessions, agreements, benefits, privileges, rights, or interests, is transferred to the purchaser. Therefore, it was concluded that the sale of a company as a ‘going concern’ means sale of both its assets and liabilities if it is stated on ‘as is where is basis’.
Sharavan Kumar Vishnoi Vs. Upma Jaiswal & Anr (NCLAT Delhi) Whether the Resolution Professional can decide the Eligibility under Section 29A Of the Insolvency And Bankruptcy Code, 2016 (hereinafter referred to as Code) FACTS: The Appeal being Company Appeal (AT) (Ins.) No.371 of 2022 has been filed by the Resolution Professional challenging the order. It […]
Sikander Singh Jamuwal Vs Vinay Talwar (NCLAT Delhi) What is very much clear from the submissions made by the Ld counsel for the parties and the documents available on record that the Resolution Plan fails to consider the payment of provident fund dues as computed by the Assistant Provident Fund Commissioner vide its order dated […]
A person falling under definition of Corporate Debtor as defined under provisions of IBC, 2016, whether incorporated in India or outside India has right to file CIRP Application under provisions of Section 9 of the IBC,2016 in India.
NCLAT Chennai dismisses appeal on Resolution Professional change. Highlights Committee of Creditors’ authority in replacing Resolution Professional during CIRP.
Sumit Bansal, Insolvency Professional Vs Committee of Creditors of JP Engineers Pvt. Ltd. (NCLAT Delhi) NCLAT not agreed with the submissions of the Counsel for the Appellant that IBBI has no jurisdiction with regard to question of fee which is entitled to be paid to the IRP/ RP. The IBBI is clothed with Regulations making […]
Ashish Chaturvedi Vs Inox Leisure Limited (NCLAT Delhi) With regard to the argument of the Learned Counsel of the Appellants that the Adjudicating Authority has imposed the penalty on the two ex-directors by invoking provisions of the Companies Act, 2013, and thus passed the Impugned Order by travelling beyond their jurisdiction, we are of the […]
Go Airlines (India) Ltd. Vs Sovika Aviation Services Pvt. Ltd. (NCLAT Delhi) Heard Shri Krishnendu Datta, learned senior counsel for the Appellant and Shri Ritin Rai, learned senior counsel appearing for the Respondent. This Appeal has been filed against the order dated 23.09.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench by […]
