Explore the NCLT judgment in Adishank vs. Baerlocher case under Section 9 of IBC. Analysis of non-acceptance of goods as operational debt, dispute resolution, and implications
NCLT Hyderabad held that the provisions of the Insolvency & Bankruptcy Code, 2016 (IBC) override the provisions of the State enacted law, such as, Andhra Pradesh Revenue Recovery Act, 1864.
NCLT Delhi held that ‘financial debt’ is not barred by limitation. Accordingly, application filed by the CFM Asset Reconstruction Private Limited, the Financial Creditor, u/s. 7 of the Code for initiating CIRP against M.G. Finvest Private Limited, the Corporate Debtor, stands admitted.
NCLT Kolkata held that successful bidder of the Corporate Debtor is allowed to file application before Adjudicating Authority claiming reliefs and concessions, however, such reliefs and concessions cannot be too elaborate and general and must be in consonance with process document in the liquidation proceedings.
NCLT Mumbai clarifies in Black Rock Financial Services vs Piramal Capital case: Settlement or dropping Sec. 66 doesn’t end proceedings under Sec. 43 automatically.
NCLT Kolkata allows simultaneous Corporate Insolvency Resolution Process (CIRP) against State Bank of India and Anupriya Management Private Limited, the corporate guarantor.
NCLT Hyderabad held that provisional order of attachment u/s. 5(1) of the PMLA of the properties of the corporate debtor covered under the approved resolution plan would not wipe of the protection available to such properties u/s. 32A of I&B Code.
NCLT Hyderabad approved the resolution plan submitted by Resolution Professional of M/s. Sindhanur Gangavathi Tollway Private Limited (Corporate Debtor) as the resolution plan as approved by CoC meets the requirements specified in Section 30(2) of the Code.
NCLT Indore held that liquidator who acted in undue haste in conducting private sale of the corporate debtor as a going concern in non-transparent manner is directed freshly conduct of bidding in specified manner.
Explore the order dated 03.02.2024 from NCLT Chandigarh transferring all pending cases from Bench 2 to Bench 1. Detailed analysis and implications.
