The tribunal noted that the invoice was issued before the alleged execution date of the agreement, raising questions about the authenticity of the claim and leading to dismissal of the insolvency petition.
The Tribunal admitted the voluntary insolvency application after examining financial statements, bank records, and other documents showing continuing default. It held that the application was complete and complied with Section 10 of the Insolvency and Bankruptcy Code.
NCLT Chandigarh held that successive written acknowledgments by the borrower extended the limitation period under Section 18 of the Limitation Act. The tribunal admitted the Section 7 IBC petition as it was filed within the extended limitation period.
The Tribunal admitted the insolvency petition after determining that the borrower failed to repay outstanding dues despite recall notice and partial payment. A moratorium under Section 14 of the IBC was declared.
The Tribunal initiated CIRP under Section 7 after finding undisputed debt exceeding ₹10.91 crore and admission of insolvency by the Corporate Debtor.
Jacob P P Vs Alka Ventures Pvt Ltd (NCLT Kochi) Homebuyers in the SKYWINGS Township Project filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 seeking initiation of Corporate Insolvency Resolution Process (CIRP), moratorium, and appointment of an Interim Resolution Professional (IRP) against the corporate debtor. The petitioners represented 98 allottees […]
The Tribunal examined allegations of oppression and mismanagement and found no supporting material. The petition was dismissed in limine, reaffirming that mere assertions without substantiation cannot sustain such proceedings.
NCLT Indore held that Superintendent of CGST is guilty of contempt for non-complying with the direction issued by Adjudicating Authority to refund the amount to Corporate debtor that was recovered during moratorium.
The Tribunal held that amounts forfeited due to failure to implement the resolution plan cannot be treated as CIRP costs. Supreme Court directions on forfeiture and encashment were binding and decisive.
NCLT Mumbai held that the Corporate Debtor [Damara Gold Private Limited] has committed a default in repaying the financial debt to the Financial Creditor [M/s. Punjab National Bank]. Accordingly, application u/s. 7 of IBC for initiation of CIRP admitted.
