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NCLT

NCLT Convicts Port Authority Officers for Contempt of Court

May 31, 2024 405 Views 0 comment Print

NCLT convicts Port Authority officers for contempt of court in ICICI Bank Ltd Vs Lanco Babandh Power Ltd case. Detailed analysis of the disobedience of court orders and legal implications.

CIRP Can Be Initiated Against Corporate Debtor Even on Principal-Agent Relationship

May 31, 2024 306 Views 0 comment Print

NCLT Mumbai rules that CIRP can be initiated against Prime Cargo Movers despite their claim of being a mere agent, holding them liable for debts.

Mere Omission of Date Doesn’t Invalidate Bankers Book Evidence Act Certificate: NCLT Chandigarh

May 28, 2024 510 Views 0 comment Print

NCLT determined that the certificate under the Bankers Book Evidence Act, 1891, despite lacking a date, was valid as it was duly signed. They emphasized that the omission of the date did not invalidate the certificate.

NCLT Cannot Set Aside Arbitral Award During IBC Moratorium

May 24, 2024 642 Views 0 comment Print

NCLT Kolkata rules it cannot annul an arbitral award during an IBC moratorium. Detailed analysis of Mahavir Industrial Corporation vs Hindustan Controls & Equipment Pvt Ltd.

Advance for Share Allotment Not a Financial Debt under IBC: NCLT

May 24, 2024 450 Views 0 comment Print

Delve into the NCLT Kolkata case of Mittson Fille Enterprise vs. Sammaan Ventures Limited regarding share application money and financial debt under the IBC. Analysis of key arguments and findings.

Post approval of resolution plan by CoC, no new claims should be entertained: NCLT Mumbai

May 22, 2024 456 Views 0 comment Print

The NCLT Mumbai ruled that claims filed after CoC approval of a resolution plan cannot be admitted, emphasizing the need for timely claim submissions in CIRP.

Detention charges qualifies as operational debts under IBC: NCLT

May 22, 2024 294 Views 0 comment Print

Get insights into the NCLT Mumbai judgment regarding detention charges as operational debts under the IBC. Detailed analysis of ABC India Ltd. Vs Prabhakar Engineers Pvt. Ltd. case.

NCLT accepts Resolution Plan of V Hotels Ltd.: Meeting IBC Code & CIRP Regulations

May 9, 2024 483 Views 0 comment Print

Resolution Plan met the requirements of Section 30(2) of the Code and the Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations. The Resolution Plan was not in contravention of any of the provisions of Section 29A of the Code and was in accordance with law.

Prioritize COC Commercial Wisdom in Resolution Plan Approval: NCLT Mumbai

May 6, 2024 366 Views 0 comment Print

The National Company Law Tribunal (NCLT) approved the Resolution Plan, emphasizing the paramount importance of the CoC’s commercial wisdom in such matters. The approval included various directions regarding the plan’s implementation, extinguishment of existing shares, reliefs, amendments to MoA and AoA, and cessation of the moratorium.

Homebuyers, Regardless of RERA Decree, belong to same category of allottees: NCLT

April 23, 2024 1437 Views 0 comment Print

Dive into the NCLAT judgment on the implications for homebuyers under RERA, analyzing Section 7(1) of the IBC and the distinction between allottees and decree holders.

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