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NCLT

Application u/s. 95 of IBC against Personal Guarantor not maintainable as defaulted amount less than one Crore

December 12, 2024 618 Views 0 comment Print

The moot question arises to be determined here is whether in cases where the amount of default is less than 1 Crore, the Personal Guarantor can be treated as Insolvent and the application under Section 95 can be maintained against him.

Application u/s. 66 of Companies Act for reduction of share capital approved: NCLT Ahmedabad

December 10, 2024 567 Views 0 comment Print

NCLT Ahmedabad approved application filed u/s. 66 of the Companies Act, 2013 by Mahan Industries Limited for reduction of share capital as approved by the Shareholders by passing a Special Resolution.

Shareholder cannot be treated as ‘aggrieved party’ under IBC so appeal u/s. 61 not maintainable

December 10, 2024 390 Views 0 comment Print

NCLAT Delhi held that the Shareholders or Investors in CD are not to be treated as “person aggrieved” under the IBC. Thus, application filed by the shareholder under section 61 of the Insolvency and Bankruptcy Code is not maintainable

No Objections Filed: NCLT Chandigarh Approves Haldirams Snacks Scheme

December 7, 2024 288 Views 0 comment Print

Analysis of the NCLT Chandigarh judgment on Haldirams Snacks and Haldiram Foods restructuring under Section 230-232 of the Companies Act, 2013.

Appointed Date Revised in Suzlon Global Vs Suzlon Energy Ltd: NCLT Ahmedabad Ruling

December 7, 2024 267 Views 0 comment Print

Detailed analysis of NCLT Ahmedabad’s order on Suzlon Global Services Ltd and Suzlon Energy Ltd merger under Sections 230-232 of the Companies Act, 2013.

CIRP application u/s. 7 of IBC admitted as debt and default established: NCLAT Mumbai

December 6, 2024 243 Views 0 comment Print

The application made by the Financial Creditor is complete in all respects as required by law. Therefore, the debt and default stand established and there is no reason to deny the admission of the Petition.

Settlement proposal u/s. 12A of IBC rejected since earlier proposal already disapproved by CoC

November 19, 2024 471 Views 0 comment Print

NCLT Delhi held that the proposals for settlement under section 12A of the IBC, 2016 made prior, to approval of the Resolution Plan, is rejected since the same was already considered by CoC and the same was not approved.

NCLT Dismisses Insolvency Petition Against Karvy Stock Broking

November 1, 2024 657 Views 0 comment Print

NCLT Hyderabad dismissed Kapston’s insolvency plea against Karvy, citing Karvy’s status as a financial service provider, and insufficient debt threshold.

Raising interest in insolvency petition without prior intimation to corporate debtor untenable

October 23, 2024 222 Views 0 comment Print

The present Company petition is filed on 27/07/2023, under section 9 of the Insolvency and Bankruptcy Code, 2016, r/w. Rule 6 of the I&B (Application to Adjudicating Authority) Rules 2016, by JANUS GBAC LIMITED.

CIRP application dismissed due to non-compliance of section 69(2) of Indian Partnership Act

October 22, 2024 237 Views 1 comment Print

NCLT Hyderabad dismissed the application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP due to non-compliance of section 69(2) of the Indian Partnership Act, 1932

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