NCLAT Delhi held that benefit of extension of limitation under section 19 of the Limitation Act entitled to the operational creditor since last payment was made within period of three years and the same was acknowledged in writing by Corporate Debtor.
NCLAT Chennai held that rejection of application preferred u/s. 9 of the Insolvency and Bankruptcy Code [I&B Code] not justified since existence of financial debt arising out of business transaction established.
NCLAT rules that pendency of an OTS proposal does not halt personal insolvency proceedings under Section 95 against personal guarantors.
NCLAT dismissed Liquidator’s appeal in Rathi Super Steel Ltd case, ruling that seized amount adjusted before CIRP initiation is not an asset of the Corporate Debtor.
NCLAT Chennai held that order not falling under Part II of the Insolvency and Bankruptcy Code, 2016 [IBC] is not appealable under section 61 of the IBC and accordingly appeal dismissed as not maintainable.
NCLAT clarifies that operational creditors cannot access parts of a resolution plan before its approval but retain the right to file objections during CIRP.
NCLAT Chennai held that rejection of application justified since disputed property claimed by the appellant will remain part of Corporate Debtor assets during Corporate Insolvency Resolution Process [CIRP] proceedings.
NCLAT Delhi held that belated filing of contingent claims (i.e. claims arising from damages and breach of contract) is rightly rejected by the resolution professional. Accordingly, appeal dismissed.
NCLAT Delhi held that after initiation of moratorium under section 14(1) of the Insolvency and Bankruptcy Code, 2016 [IBC], no assessment proceedings can be continued by EPFO. Accordingly, appeal dismissed.
Assessee-company had challenged an order passed by the National Company Law Tribunal ( NCLT ) which dismissed its Section 9 application under the IBC, against the corporate debtor for being time-barred
