NCLT Mumbai held that non-payment of part of debt when it becomes due and payable amounts to default. Thus, application u/s. 7 of Insolvency and Bankruptcy Code [IBC] duly admitted since there exists financial debt, exceeding threshold limit, and the same is in default.
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [Vibrant Content Pvt. Ltd.] is admitted since debt and default stand established.
NCLT Ahmedabad held that application u/s. 7 of the Insolvency and Bankruptcy Code is admitted since Financial Creditor discharged its burden of proof by demonstrating the existence of a financial debt and default in payment of the financial debt by the Corporate Debtor [Devashray Papers (India) LLP].
NCLT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s. Shriram Skill and Education Ltd. [Corporate Debtor] is admitted since debt and default duly proved. Accordingly, present appeal is allowed.
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process against Haran Chandra Cold Storage Pvt. Ltd. [Corporate Debtor] is admitted since financial debt and default is duly established.
NCLT Delhi held that application for initiation of liquidation of the Corporate Debtor filed under section 33(2) read with section 33(1)(b) of the Insolvency and Bankruptcy Code is allowed in view of non-cooperation of the management.
NCLT Kochi held that application under Regulation 31A(11) of the IBBI (Liquidation Process) Regulations, 2016 valid as Stakeholders’ Consultation Committee [SCC] with majority vote has resolved to replace the present liquidator.
NCLT Ahmedabad held that Corporate Debtor [Shree Ram Cottex Industries Pvt. Ltd.] is admitted into liquidation in terms of provisions of section 33(1)(b) of the Insolvency and Bankruptcy Code, 2016 in view of rejection of resolution plan u/s. 31(2) for non-compliance with statutory requirements.
NCLT Delhi admitted Bank of India’s insolvency petition against TDT Copper Ltd for default of ₹153.98 crore, initiating CIRP and appointing an Interim Resolution Professional.
NCLAT directed liquidation of corporate debtor after Committee of Creditors rejected sole resolution plan as being below liquidation value and commercially unviable.
