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
NCLAT Chennai held that fees is payable to Interim Resolution Professional (IRP) from the date he took charge of IRP till the date of appointment of new Resolution Professional. Accordingly, directed to pay additional fees from 53 days.
NCLT Kolkata held that a secured creditor having possession over the assets of the corporate debtor does not lose its rights to file an application under Section 7 of the Insolvency and Bankruptcy Code.
The bills so assigned to the Financial Creditors and the amounts against such bills was disbursed. In the process of transactions, the Applicants stated to have paid a sum of Rs. 2,34,17,965/- on various dates.
On 21.04.2017, a Share Purchase Agreement was executed, wherein the erstwhile Directors sold their equity in favour of Accord Mediplus Pvt. Ltd. Respondent Nos.6 to 12 also resigned from the Trust on 01.09.2017.
