The Tribunal held that a loan advanced through cheque and supported by acknowledgments qualifies as a financial debt under IBC even without a written loan agreement.
NCLT Mumbai found Section 10 petition complete, with no pending disciplinary issues against proposed IRP, and ordered commencement of CIRP for Comp-Print Kalpana Private Limited.
The NCLT Delhi directed liquidation of Auto Needs (India) Pvt. Ltd. under Section 33(2) of the IBC after the CoC, with 100% votes, found no viable resolution plan.
NCLT Delhi admitted R.J. Packwells Pvt. Ltd.’s application under Section 9 of the IBC against Maurya Printers for ₹2.20 crore default, declaring moratorium and appointing an IRP.
NCLT Ahmedabad waived the one-tenth shareholding requirement under Section 244(1)(a), allowing former ICEX promoters to proceed with an oppression and mismanagement petition.
NCLT Kochi orders liquidation of the Corporate Debtor [M/s. Malayalam Vehicles India Pvt. Ltd.] as duly approved by CoC and Resolution Professional of Corporate Debtor appointed as Liquidator to carry out Liquidation Process as per the approval of CoC.
NCLT Mumbai held that resolution plan for Corporate Debtor as submitted by M/s. West End Investment and Finance Consultancy P. Ltd. is approved u/s. 31(1) of IBC since the same is duly approved by CoC and meets the requirements of IBC and the IBBI Regulations.
NCLT Mumbai held that non-payment of part of debt when it becomes due and payable amounts to default. Thus, application u/s. 7 of Insolvency and Bankruptcy Code [IBC] duly admitted since there exists financial debt, exceeding threshold limit, and the same is in default.
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [Vibrant Content Pvt. Ltd.] is admitted since debt and default stand established.
NCLT Ahmedabad held that application u/s. 7 of the Insolvency and Bankruptcy Code is admitted since Financial Creditor discharged its burden of proof by demonstrating the existence of a financial debt and default in payment of the financial debt by the Corporate Debtor [Devashray Papers (India) LLP].
