NCLT Indore held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Professional [CIRP] against OSSL Agri Logistics Private Limited [Corporate Debtor] admitted as no pre-existing dispute exists.
NCLT Kochi held that application under section 7 for initiation of Corporate Insolvency Resolution Process [CIRP] against M/s. Inditrade Business Consultants Limited is admitted since financial debt and occurrence of default established.
NCLT Ahmedabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Sumarrow Impex LLP (Corporate Debtor) admitted as financial debt and default stands proved.
NCLT Delhi held that application under section 10 of the Insolvency and Bankruptcy Code for initiation of CIRP against M/s. Universal Journeys India Private Limited [Corporate Debtor] is admitted since existence of operational debt and default duly established.
NCLT Mumbai held that corporate debtor [Neptune Ventures and Developers Private Limited] shall be liquidated considering that CIRP period has expired and at present there is no resolution plan for consideration of the CoC.
NCLT Delhi held that application filed under section 7 of the Insolvency and Bankruptcy Code by State Bank of India for initiation of Corporate Insolvency Resolution [CIRP] against Giga Pipe Systems Pvt. Ltd. admitted since financial debt and default established.
NCLT Ahmedabad held that statutory demand notice duly signed by Operational Creditor and served upon Corporate Debtor through advocate is valid in eye of law. Accordingly, Corporate Debtor [Vimla Fuels and Metals Limited] is admitted to CIRP u/s. 9(5) of IBC.
NCLT Chennai held that discretionary power on NCLT u/s. 7(5)(a) of the Insolvency and Bankruptcy Code cannot be used to impel financial creditor to consider settlement proposed by Corporate Debtor. Accordingly, CIRP against Aban Offshore Limited admitted.
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Gupta Power Infrastructure Limited [Corporate Debtor] admitted for default of Rs. 2888 Crore.
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Process for initiation of Corporate Insolvency Resolution Process [CIRP] against Wind World (India) Infrastructure Private Limited [Corporate Debtor] admitted since Financial Creditors have proved existence of debt and default.
