NCLT Kochi held that delay in filing bankruptcy application u/s. 123 of the Insolvency and Bankruptcy Code, 2016 condoned considering that compliance with Section 121(2) should be considered directory in nature. Accordingly, present appeal is allowed.
NCLT Chandigarh approved a ₹53.65 lakh plan by Geeta Jain for Pala Decor Pvt. Ltd., affirming that CoC’s commercial wisdom prevails under IBC Sections 30–31.
NCLT admitted a Section 7 petition after finding clear evidence of financial debt and continuing default, rejecting borrower’s defence of delayed disbursement and alleged creditor breach.
The Tribunal admitted insolvency proceedings after finding the corporate debtor in default of ₹1.6 crore despite notices and opportunities for repayment.
NCLT Principal bench held that scheme of Merger by Amalgamation between Maruti Suzuki India Limited and Suzuki Motors Gujarat Private Limited as proposed by the Petitioner Companies under Sections 230 to 232 of the Companies Act, 2013 is sanctioned.
NCLT Ahmedabad held that application under section 7 of Insolvency and Bankruptcy Code against Corporate Debtor [Turnest Resources Private Limited] admitted since Financial Creditor has successfully established the existence of a financial debt and default committed by the Corporate Debtor.
NCLT Chennai held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor (Soundararaja Mills Limited) admitted as twin condition i.e. debt and default fulfilled.
NCLT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [Era Infrastructure (India) Ltd.] admitted since financial debt and default thereon duly proved.
NCLT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Haridwar Highway Project Limited [Corporate Debtor] admitted since financial debt and default thereon established.
The Tribunal admitted the insolvency plea under Section 7 of the IBC after finding financial default and compliance with RBI norms, initiating CIRP and declaring moratorium.
