Resolution Plan met the requirements of Section 30(2) of the Code and the Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations. The Resolution Plan was not in contravention of any of the provisions of Section 29A of the Code and was in accordance with law.
The National Company Law Tribunal (NCLT) approved the Resolution Plan, emphasizing the paramount importance of the CoC’s commercial wisdom in such matters. The approval included various directions regarding the plan’s implementation, extinguishment of existing shares, reliefs, amendments to MoA and AoA, and cessation of the moratorium.
Dive into the NCLAT judgment on the implications for homebuyers under RERA, analyzing Section 7(1) of the IBC and the distinction between allottees and decree holders.
1. The NCLAT Delhi In Anil Agrawal v. Omega as per the attached Order Delivered on: 11.04.2023 The company was formed as a joint venture (JV) between Omega Engineering Holding BV (Omega Group) and an Indian partnership firm called Friends Refrigeration and Associates (FRA). Clause 8 of the JVA, it was the Petitioner who was to […]
NCLT Allahabad directs Successful Resolution Applicant (SRA) to match total value of resolution plan with liquidation value in case of Hadirah Steels Pvt. Ltd. Vs Rana Heavy Engineering Ltd.
NCLT Mumbai set aside the resolution plan submitted by the respondent as Resolution Professional withhold the information of Resolution Applicant, being declared as wilful defaulter prior to submission of resolution plan, from the COC.
NCLT Chennai rules IBC not right for ED attachment revocation in Nathella Sampath Jewelry case. Detailed analysis of jurisdictional issues.
NCLT Mumbai’s ruling clarifies allocation of profits during CIRP period, favoring financial creditors when Resolution Plan and RFRP are silent. Learn more about Kalyan Janata Sahakari Bank Ltd. Vs Arun Kapoor case.
Explore the NCLT Kochi judgment imposing a cost of Rs. 50,000 on the GST department for search and seizure during the moratorium in the K. Easwara Pillai vs. GST Department case.
Understanding the recent NCLT Mumbai case between Edelweiss and Ajmera Realty. Find out the legal arguments, implications, and findings in this comprehensive article.
