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NCLAT

Financial Creditors’ can File Second Petition under Section 7 of IBC for CD’s Continued Default

June 13, 2024 927 Views 0 comment Print

Detailed analysis of Desh Bhushan Jain vs Abhay Kumar case before NCLAT Delhi. Second petition under Section 7 of IBC challenged. Full judgment and implications explored.

NCLT cannot  unilaterally change appointed date while admitting scheme of arrangement 

June 9, 2024 1899 Views 0 comment Print

NCLAT rules NCLT’s role in amalgamation schemes is supervisory, not appellate. Learn about the Marathon Nextgen Townships Pvt Ltd case and its implications.

NCLT Rule 49 Grants Adjudicating Authority Discretion to Proceed Ex Parte; This Power Is Not Absolute: NCLAT Delhi

June 9, 2024 747 Views 0 comment Print

In the case of Ashok Tiwari Vs DBS Bank India, the NCLAT rules on Rule 49, allowing proceedings to proceed ex parte when the corporate debtor fails to appear, stirring debate.

No power to Adjudicating Authority to substitute its own Assumption with CoC’s Commercial Wisdom

June 7, 2024 1182 Views 0 comment Print

Dive into the NCLAT judgment on Sarda Energy vs Ashish Arjunkumar Rathi, exploring why the Adjudicating Authority can’t substitute CoC’s decisions.

Service of notice gets affected when sent to correct address by registered post

June 4, 2024 1926 Views 0 comment Print

Discover the NCLAT Delhi’s verdict on Mukund Rajhans vs Rajasthan Patrika Pvt Ltd. The corporate debtor’s liability clarified in the latest NCLAT order.

Extension of Payment Time in Resolution Plan not constitute plan modification

June 4, 2024 909 Views 0 comment Print

Analysis of Ashok Dattatray Atre Vs State Bank of India case by NCLAT Delhi. Learn about time extension in payment under IBC and its implications on resolution plans.

NCLAT upholds admission of SBI’s IBC Section 7 application citing errors & legal misinterpretations

June 4, 2024 672 Views 0 comment Print

NCLAT Delhi rules on the admissibility of a Section 7 application by State Bank of India against Advantage Overseas Pvt. Ltd., allowing it despite the timing of the OTS failure. Read the full analysis.

NCLAT Orders Resubmission of Resolution Plan to CoC with NOIDA’s Secured creditor Claim

June 4, 2024 1128 Views 0 comment Print

Learn about SP Probuild LLP Vs. Rabindra Kumar Mintri & Ors case. NCLAT Delhi ruling states that resubmission of resolution plan awaits pending applications.

NCLAT Directs NCLT on CoC Reconstitution: Srei Equipment Finance Ltd. Vs Harsh Arora

May 31, 2024 633 Views 0 comment Print

NCLAT directs NCLT to decide on reconstitution of CoC after considering reply in Srei Equipment Finance Ltd. Vs Harsh Arora case. Full text of judgment included.

Only costs directly related to CIRP & approved by CoC can be classified as CIRP costs: NCLAT

May 31, 2024 2319 Views 0 comment Print

NCLAT Delhi rules on Avil Menezes’ appeal regarding CIRP costs in Sunil Hitech vs Abdul Qudduskhan case. Detailed analysis of fabrication and erection work claims.

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