NCLAT Delhi held that remedial directions contained in earlier judgement will apply to WhatsApp user data collection and sharing for all non-WhatsApp purposes which includes non-advertising and advertising purposes. Accordingly, application of commission is allowed.
NCLAT Delhi held that amount advance to Corporate Debtor with view to share profit in real estate project doesn’t qualify as financial debt u/s. 5(8) of the Insolvency and Bankruptcy Code. Thus, application u/s. 7 rightly rejected.
NCLAT Delhi held that rejection of application under section 9 of the Insolvency and Bankruptcy Code justifiable because of pre-existing dispute between the parties. Accordingly, appeal dismissed as being devoid of merits.
NCLAT Delhi upholds order of Adjudicating Authority directing contribution to the assets of corporate debtor since it is clearly established that business of corporate debtor was carried on with intent to defraud creditors of corporate debtor.
NCLAT Delhi held that shareholders have locus standi to file appeal under section 61 of the Insolvency and Bankruptcy Code and hence the appeal is maintainable. Further, appellant has made out case of fraudulent initiation of CIRP since both Financial Creditor and Corporate Debtor are related parties.
The NCLAT upheld the rejection of repayment plans submitted by personal guarantors under the I&B Code, as they failed to submit revised proposals despite extensions, confirming the legal procedure was correctly followed.
NCLAT Delhi held that intention to defraud creditors of Corporate Debtor was based on documentary evidence, accordingly, all the ingredients under section 66 of the Insolvency and Bankruptcy Code are attracted. Thus, appeal lacks merits and hence dismissed.
NCLAT ruled that commercial borrowing with agreed interest constitutes financial debt even without a formal loan agreement
NCLAT Chennai held that appeal as prescribed under section 19 of the Contempt of Courts Act, 1971 against the order of dismissal of contempt petition is not maintainable. Accordingly, company appeals are dismissed.
The appellate tribunal held that once a company petition is dismissed in full, all interim and docket orders merge with the final judgment. No partial relief can be inferred from incidental observations after such dismissal.
