NCLT Delhi held that resolution plan of corporate debtor Dev Versha Publication Private Limited submitted by resolution professional is approved since the same was approved by 100% voting share of CoC.
NCLT Mumbai held that payment made after Corporate Insolvency Resolution Process [CIRP] without consent of Interim Resolution Professional [IRP] is breach of moratorium as provided in Section 14 of the Code. Hence, payment is liable to be refunded back to Corporate Debtor.
NCLT Mumbai approved ACME Cleantech Solutions Private Limited resolution plan as moved by resolution professional of Reliance Big Private Limited The present Application is moved by Mr. Rohit Ramesh Mehra (“Applicant”), Resolution Professional of Reliance Big Private Limited (“Corporate debtor”) under Section 30(6) r/w Section 31 (l) of the Insolvency and Bankruptcy Code, 2016.
NCLT Delhi rejects bankrupt’s discharge plea under IBC 138(1), stating only the Bankruptcy Trustee can file. Decision highlights process concerns.
NCLT Delhi dismisses Transline Technologies’ insolvency petition against Experio Tech, citing a joint venture relationship, not operational debt.
It was held that CoC in the legislative scheme was empowered to take decision to liquidate the Corporate Debtor, any time after its constitution and before confirmation of the resolution plan.
NCLT Kolkata held that unsuccessful resolution applicant has no locus to assail resolution plan once the resolution plan has been approved by the Committee of Creditors [CoC] unanimously.
NCLT Delhi dismissed Akshay Kumar Bhatia’s insolvency plea against Cue Learn Pvt. Ltd., citing the claim did not qualify as operational debt under IBC.
As per the said Statement of Accounts, there was an outstanding amount of Rs 1,85,25,373/- (Rupees One Crore Eighty-Five Lakh Twenty-Five Thousand Three Hundred and Seventy-Three only) which was due and payable by the Corporate Debtor as on 31.03.2024.
NCLT Mumbai held that sale of property of personal guarantors by financial creditor under SARFAESI Act during protection of moratorium under section 96 of the IBC is invalid sale as protection of moratorium under section 96 is far greater than of section 14.
