IBC 2016 judiciary-2

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

K. Easwara Pillai Vs Goods and Services Tax Department (NCLT Kochi)

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

Edelweiss Asset Reconstruction Company Limited Vs Ajmera Realty and Infra India Limited (NCLT Mumbai)

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

State of Tamil Nadu Vs S. Rajendran (NCLT Chennai)

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....

Supreme Court Sets Aside NCLT Order, Calls for Re-Submission of Resolution Plan

Greater Noida Industrial Development Authority Vs Prabhjit Singh Soni & Anr. (Supreme Court of India)

In a landmark judgment, the Supreme Court of India overturns the NCLT's approval of a resolution plan, highlighting the need for adherence to IBC parameters....

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

Adishank Chemicals Pvt. Ltd. Vs Baerlocher India Additives Pvt. Ltd. (NCLT Mumbai)

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

Punjab National Bank Vs NCS Sugars Ltd (NCLT Hyderabad)

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....

Resolution Applicant in CIRP Can Object Approval of Resolution Plan: NCLAT Delhi

Prio S.A. Vs Pravin R. Navandar (NCLAT Delhi)

NCLAT Delhi rules that participants in CIRP have the right to object to the approval of a Resolution Plan, setting a precedent for future insolvency cases....

Income Tax Dues Not in Resolution Plan extinct upon Plan Approval: ITAT Nagpur

Murli Industries Ltd Vs DCIT (ITAT Nagpur)

Nagpur ITAT reaffirms that ITR claims not in resolution plans are extinguished upon approval, guiding taxpayers through corporate insolvency proceedings....

NCLAT Calls Out NCLT’s Non-speaking Order as Violative of Natural Justice

Parikshit Madanmohan Sharma Vs M.S. Gopikrishnan & Ors. (NCLAT Delhi)

NCLAT orders NCLT to review compliance with Section 7(1) in a dispute over the number of allottees before admitting CIRP against K.D. Lite Developers....

NCLAT Denies Kotak Mahindra’s Late Claim Post approval of Resolution Plan

Kotak Mahindra Bank Ltd. Vs Sandeep Goel RP (NCLAT Delhi)

NCLAT upholds the rejection of Kotak Mahindra Bank's claim filed 738 days late after the approval of a resolution plan. Discover the implications....

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