NCLAT Delhi held that Successful Resolution Applicant is entitled to relief of extension of benefit of protection of Section 32-A of the Insolvency and Bankruptcy Code to lift the attachment by Enforcement Directorate (ED) over the assets of the Corporate Debtor.
NCLAT clarifies that non-declaration of dividend and director changes cannot be considered acts of oppression and mismanagement in family-run companies.
NCLAT Delhi upholds the jurisdiction of the Adjudicating Authority to determine fees and expenses of the Resolution Professional in the Raj Buildhome Pvt. Ltd. case.
NCLAT Delhi held that electricity supply by NPCL, being in nature of supply of essential goods, was necessary to be continued during the period of moratorium (CIRP period).
NCLAT Delhi held that personal liability cannot be fastened on Resolution Professional for any payment made after CIRP, where such payment is made with the approval of CoC.
NCLAT Delhi ruled that financial creditors who are allottees under RERA must meet the threshold criteria to file a Section 7 application under IBC. Learn more about the judgment.
Read the full text of the NCLAT judgment/order in A. Vijayan & Ors. vs Silver Line Retreat Hotels Pvt. Ltd. Understand why the tribunal criticized the filing of voluminous records and how it impacts legal proceedings.
Submission of Appellant that since guarantee has not been invoked there is no debt cannot be accepted. Guarantee continues to bind Corporate Guarantor to discharge its liability and fact that as on date, guarantee has not been invoked, cannot be a ground for Appellant to be liquidated under Section 59 of IBC.
It is not the scope & objective of IBC to include Banks Financial Institutions who advanced loans to Home Buyers to be considered as Financial Creditors & included in CoC
NCLAT Delhi upholds NCLT decision against Rolta Private Limited’s assignment agreement as malafide, prolonging CIRP process. Full judgment analysis here.
