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NCLAT Affirms Ineligibility of Wilful Defaulter to Submit Resolution Plan

May 26, 2024 1095 Views 0 comment Print

Read the detailed analysis of Namdev Hindurao Patil’s appeal against his ineligibility to submit a resolution plan for Warana Dairy. Learn how the NCLAT dismissed his plea.

Time-barred claims by Creditors in IBC Proceedings should not to be considered

May 24, 2024 1539 Views 0 comment Print

Analysis of Pooja Mehra vs Victory Ace case before NCLAT Delhi. Understanding IBC time limits, belated claims, and implications for creditors. Detailed judgment breakdown.

Debt & default against Corporate Debtor: Section 7 IBC Application Admissible

May 24, 2024 807 Views 0 comment Print

Delve into the legal intricacies of New Era Propcon Pvt. Ltd. vs SREI Equipment Finance Ltd. case at NCLAT Delhi. Detailed analysis, implications, and conclusions explored.

Upholding IBC Objectives: Strict Timelines Essential for Insolvency Resolution

May 16, 2024 648 Views 0 comment Print

Ensuring timely insolvency resolution, IBC mandates strict timelines; a liberal approach would undermine its objectives. Korah John Vs JM Financial Asset Reconstruction Company Ltd. (NCLAT Chennai)

NCLAT Grants Relief to SBI: Time for Rejoinder Extended

May 16, 2024 456 Views 0 comment Print

In the State Bank of India vs. Supreme Panvel Indapur Tollways Pvt. Ltd. case, NCLAT Delhi grants time for rejoinder with a cost of Rs. 25,000, dismissing other directives.

Liquidator Cannot Adjudicate Claims, Counter Claims: NCLAT

May 15, 2024 945 Views 0 comment Print

NCLAT Chennai rules against FLSmidth Pvt Ltd, stating liquidator lacks authority to decide matters involving claims and counterclaims in insolvency cases.

Extension of time for payment is not modification of resolution plan: NCLAT

May 15, 2024 1122 Views 0 comment Print

NCLAT held that CoC’s decision not to liquidate did not constitute a modification of resolution plan and extension of time for payment was reasonable.

IBC: Liability arising from a recovery certificate constitutes a financial debt

May 15, 2024 750 Views 0 comment Print

NCLAT Chennai held that liability arising from a recovery certificate constitutes a financial debt under IBC. Therefore, application filed by PARAS is not barred by limitation.

Draft MOU: No Proof of Joint Venture vs. Corporate Debtor Relationship

May 5, 2024 507 Views 0 comment Print

Explore the intricacies of the Arunkumar Jayantilal Muchhala vs Awaita Properties Pvt. Ltd. case from NCLAT Delhi. Dive into the dispute over financial debt, default claims, and legal intricacies.

NCLAT Upholds CIRP Proceedings: Mukund Rajhans Vs Rajasthan Patrika

May 5, 2024 651 Views 0 comment Print

Detailed analysis of NCLAT’s decision in Mukund Rajhans vs Rajasthan Patrika regarding CIRP initiation under Section 9 of IBC for operational dues.

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