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NCLT

Mediation in Joint Venture Company’s Oppression & Mismanagement Dispute: NCLT referred to mediation

April 18, 2024 642 Views 0 comment Print

1. The NCLAT Delhi In Anil Agrawal v. Omega as per the attached Order Delivered on: 11.04.2023 The company was formed as a joint venture (JV) between Omega Engineering Holding BV (Omega Group) and an Indian partnership firm called Friends Refrigeration and Associates (FRA). Clause 8 of the JVA, it was the Petitioner who was to […]

NCLT Directs SRA to Match Total Value of Resolution Plan with Liquidation Value

April 9, 2024 390 Views 0 comment Print

NCLT Allahabad directs Successful Resolution Applicant (SRA) to match total value of resolution plan with liquidation value in case of Hadirah Steels Pvt. Ltd. Vs Rana Heavy Engineering Ltd.

Resolution plan set aside as applicant declared as wilful defaulter: NCLT Mumbai

April 5, 2024 468 Views 0 comment Print

NCLT Mumbai set aside the resolution plan submitted by the respondent as Resolution Professional withhold the information of Resolution Applicant, being declared as wilful defaulter prior to submission of resolution plan, from the COC.

IBC Authority Inappropriate for Revocation of Attachment under PMLA: NCLT

April 3, 2024 288 Views 0 comment Print

NCLT Chennai rules IBC not right for ED attachment revocation in Nathella Sampath Jewelry case. Detailed analysis of jurisdictional issues.

NCLT Orders Surplus CIRP Profits to Financial Creditors, Aligning with Resolution Plan Terms

March 21, 2024 486 Views 0 comment Print

NCLT Mumbai’s ruling clarifies allocation of profits during CIRP period, favoring financial creditors when Resolution Plan and RFRP are silent. Learn more about Kalyan Janata Sahakari Bank Ltd. Vs Arun Kapoor case.

NCLT Kochi: Rs. 50,000 Cost Levied on GST Department for Violating Moratorium

February 26, 2024 1341 Views 0 comment Print

Explore the NCLT Kochi judgment imposing a cost of Rs. 50,000 on the GST department for search and seizure during the moratorium in the K. Easwara Pillai vs. GST Department case.

Commercial contract for purchase of NCDs is not ‘financial debt’: NCLT Mumbai

February 22, 2024 426 Views 0 comment Print

Understanding the recent NCLT Mumbai case between Edelweiss and Ajmera Realty. Find out the legal arguments, implications, and findings in this comprehensive article.

Liquidator obliged to explain delays in liquidation process under IBC, 2016

February 18, 2024 651 Views 0 comment Print

Learn from the NCLT Chennai judgment in State of Tamil Nadu Vs S. Rajendran about the liquidator’s obligation to explain delays in the liquidation process under IBC, 2016.

Non-Acceptance of Goods Doesn’t Constitute Operational Debt under IBC: NCLT

February 16, 2024 456 Views 0 comment Print

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

Provisions of IBC overrides provisions of State enacted law: NCLT Hyderabad

February 15, 2024 381 Views 0 comment Print

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.

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