NCLAT

Latest Case Law Related to IBC – April 2021- June, 2021

Corporate Law - Supreme Court Ghanashyam Mishra and Sons Private Limited Vs. Edelweiss Asset Reconstruction Company Limited & Ors. [CA No. 8129/2019] The Supreme Court (SC) held that the 2019 amendment to section 31 of the Code is clarificatory and declaratory in nature and is, therefore, effective from the date on which the Code came into effect. Ev...

Read More

Summary of NCLAT Judgement on IBC 2016 for May 2021

Corporate Law - NCLAT JUDGEMENT SUMMARY FOR THE MONTH OF MAY’ 2021 ON IBC, 2016 It gives us immense pleasure to share our 3rd Edition of NCLAT Judgement Summary for the month of May’ 2021 covering summary/ gist of finding of the Hon’ble NCLAT. The Judgement summary prepared by us is for the purpose of understanding in short […]...

Read More

Latest Case Law Related to IBC – January 2021- March, 2021

Corporate Law - Supreme Court Laxmi Pat Surana Vs. Union Bank of India & Anr. [CA No. 2734/2020] An FC had extended a credit to a proprietorship firm, which failed to repay the amount. The credit was guaranteed by a company. The FC filed an application under section 7 for CIRP of the CD (guarantor company). The application […]...

Read More

Brief overview on NCLT and NCLAT

Corporate Law - In India, miscellany bodies act as an expeditious and advantageous alternative to courts of law, with additions to the list being the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). As the two tribunals have been recently established with an aim to regulate and resolve disputes between civil ...

Read More

Important Judgments related to IBC, 2016 – Oct to Dec 2020

Corporate Law - Supreme Court Kridhan Infrastructure Pvt. Ltd. Vs. Venkatesan Sankaranarayan & Ors. [CA No. 3299/2020] As resolution plan was not implemented, the Adjudicating Authority (AA) ordered liquidation of the CD. On appeal, the NCLAT allowed the RA to make certain deposits within certain time. On failure to deposit the amounts, the NCLAT uph...

Read More

NCLAT Checklist for Appeals under Companies Act, 2013 & IBC, 2016

Corporate Law - NATIONAL COMPANY LAW APPELLATE TRIBUNAL Checklist for Appeals under Companies Act, 2013 & Insolvency and Bankruptcy Code, 2016 Appeals to be in Form NCLAT-1 (in triplicate) along with an affidavit in Form NCLAT-4 of the National Company Law Appellate Tribunal Rules, 2016 (Rules) 1. Language & Format – Appeal stitched togethe...

Read More

NCLAT Checklist for Appeals under Competition Act, 2002

Corporate Law - NATIONAL COMPANY LAW APPELLATE TRIBUNAL Checklist for Appeals under Competition Act, 2002 Appeals to be in the Form appended to ‘The Competition Appellate Tribunal (Form and Fee for Filing an Appeal and Fee for Filing Compensation Applications) Rules, 2009 (Rules 2009) along with an affidavit’ Refer also Rules 3 & 6 and the Form a...

Read More

FM inaugurates Chennai Bench of NCLAT

Corporate Law - Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the Chennai Bench of National Company Law Appellate Tribunal (NCLAT) through virtual mode here today....

Read More

Revised SOP for Mentioning the matter for hearing through virtual mode before NCLAT

Corporate Law - National Company Law Appellate Tribunal Revised Standard Operating Procedure for Ld. Advocate/ Authorised Representative/Party-in-Person for Mentioning the matter for hearing through virtual mode. As directed, the following is the revised Standard Operating Procedure for hearing of cases through virtual mode (Cisco Webex Meeting Platform)...

Read More

NCLAT SOP for hearing through virtual mode wef 01.06.2020

Corporate Law - Standard Operating Procedure for Ld. Advocate/ Authorised Representative/Party-in-Person for Mentioning the matter for hearing through virtual mode In order to contain the spread of Coronavirus (COVID-19), and after considering the various instructions and advisories relating to coronavirus control and lockdown issued by the Government, H...

Read More

Whether CIRP Initiated can be Against A Company Strike off by ROC?

Elektrans Shipping Pte Ltd. Vs Pierre D’silva (NCLAT Delhi) - Initiation of Corporate Insolvency Resolution Process (CIRP) under section 7 and 9 of the Insolvency and Bankruptcy Code, 2016 can be maintained even if Company’s name has been struck off by the Registrar of Companies (ROC)....

Read More

NCLAT: Revision of GST assessment is beyond jurisdiction of RP, not sustainable in law

Bijoy Prabhakaran Pulipra Vs State Tax Officer, SGST (NCLAT) - NCLAT remarked that the revision of the GST assessment order was beyond the jurisdiction of the RP and the RP was not having the adjudicatory power given by the GST Law...

Read More

Liquidator at liberty to apply & enforce amended Clause 12 of Schedule I of Liquidation Regulations

In re Mr. Sundaresh Bhat Liquidator of ABG Shipyard Limited (NCLAT Delhi) - In re Mr. Sundaresh Bhat Liquidator of ABG Shipyard Limited (NCLAT Delhi) When in an auction somebody has given a higher bid, if instead of 15 days, the person gets a breathing time of 90 days to make a payment, no other person gets affected. We have seen the Discussion Paper referred to by the [&he...

Read More

Success Fees’ is Contingent & Speculative in Nature & Not form Part of IBC: NCLAT

Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi) - Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi) Appellant claiming that he had done excessively well to deserve Rs. 3 Crores of success fees, the Adjudicating Authority had made comments as to what was the scenario w...

Read More

IBC not prevents closure of Liquidation Process in case ‘Corporate Debtor’ is sold as a going concern

Mohan Gems & Jewels Private Limited Vs Vijay Verma (NCLAT Delhi) - In this case, the NCLAT set aside an order of the NCLT where the NCLT rejected an application by the liquidator seeking closure of the liquidation process as the corporate debtor was being sold as a going concern under the Insolvency and Bankruptcy Board of India (Liquidation process) Regulations, 2...

Read More

Partial temporary relaxation in SOP for filing of Hard-Copies at NCLAT

Notice No. 138/2021 - (06/07/2021) - NCLAT Notice No. 138/2021 – Partial temporary relaxation in the Revised Standard Operating Procedure with regard to the filing of Hard-Copies as given in the Notice No. 112/2021 dated 24th May, 2021 is withdrawn with immediate effect. The Revised Standard Operating Procedure dated January 3, ...

Read More

NCLAT SOP on Preventive Measures to Contain Spread of COVID-19

File No. 10/37/2018-Estt./NCLAT - (27/05/2021) - In view of alarming rise in the COVID-19 cases and considering SOP on Preventive Measures to Contain Spread of COVID-19 in Offices dated 4th June, 2020 and further directions issued by Ministry of Health and Family Welfare from time to time;...

Read More

NCLAT revises SOP to facilitate e filing of documents

Notice No. 112/2021-NCLAT - (24/05/2021) - The Honble Competent Authority, NCLAT has taken note of the present precarious conditions created by COVID-19 situation, and the difficulties of parties in reaching NCLAT for filing hard copies due to the prevailing pandemic situation....

Read More

NCLAT Chennai Bench to function through Virtual Mode wef 25.01.2021

Notice No. 025/2021 - (23/01/2021) - Take notice that the Chennai Bench of National Company Law Appellate Tribunal (NCLAT) will start its functioning from 25.01.2021 through Virtual Mode....

Read More

MCA extends terms of Judicial Members & officiating Chairperson of NCLAT

Notification No. S.O. 3855(E), S.O. 3856(E) - (28/10/2020) - Term of office of Justice (Retd.) Shri Bansi Lal Bhat and Justice (Retd.) Shri A.I.S. Cheema as Judicial Member, National Company Law Appellate Tribunal is extended up to 31.12.2020....

Read More

Recent Posts in "NCLAT"

Whether CIRP Initiated can be Against A Company Strike off by ROC?

Elektrans Shipping Pte Ltd. Vs Pierre D’silva (NCLAT Delhi)

Initiation of Corporate Insolvency Resolution Process (CIRP) under section 7 and 9 of the Insolvency and Bankruptcy Code, 2016 can be maintained even if Company’s name has been struck off by the Registrar of Companies (ROC)....

Read More
Posted Under: Corporate Law | |

NCLAT: Revision of GST assessment is beyond jurisdiction of RP, not sustainable in law

Bijoy Prabhakaran Pulipra Vs State Tax Officer, SGST (NCLAT)

NCLAT remarked that the revision of the GST assessment order was beyond the jurisdiction of the RP and the RP was not having the adjudicatory power given by the GST Law...

Read More
Posted Under: Corporate Law | |

Liquidator at liberty to apply & enforce amended Clause 12 of Schedule I of Liquidation Regulations

In re Mr. Sundaresh Bhat Liquidator of ABG Shipyard Limited (NCLAT Delhi)

In re Mr. Sundaresh Bhat Liquidator of ABG Shipyard Limited (NCLAT Delhi) When in an auction somebody has given a higher bid, if instead of 15 days, the person gets a breathing time of 90 days to make a payment, no other person gets affected. We have seen the Discussion Paper referred to by the […]...

Read More
Posted Under: Corporate Law | |

Success Fees’ is Contingent & Speculative in Nature & Not form Part of IBC: NCLAT

Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi)

Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi) Appellant claiming that he had done excessively well to deserve Rs. 3 Crores of success fees, the Adjudicating Authority had made comments as to what was the scenario when it was supervising the CIRP. We [&he...

Read More
Posted Under: Corporate Law | |

IBC not prevents closure of Liquidation Process in case ‘Corporate Debtor’ is sold as a going concern

Mohan Gems & Jewels Private Limited Vs Vijay Verma (NCLAT Delhi)

In this case, the NCLAT set aside an order of the NCLT where the NCLT rejected an application by the liquidator seeking closure of the liquidation process as the corporate debtor was being sold as a going concern under the Insolvency and Bankruptcy Board of India (Liquidation process) Regulations, 2016...

Read More
Posted Under: Corporate Law | |

Latest Case Law Related to IBC – April 2021- June, 2021

Supreme Court Ghanashyam Mishra and Sons Private Limited Vs. Edelweiss Asset Reconstruction Company Limited & Ors. [CA No. 8129/2019] The Supreme Court (SC) held that the 2019 amendment to section 31 of the Code is clarificatory and declaratory in nature and is, therefore, effective from the date on which the Code came into effect. Ev...

Read More
Posted Under: Corporate Law |

NCLAT set aside unsavoury observations/comments in NCLT order

Chalasani Udaya Sankar Vs Lexus Technologies Pvt. Ltd. (NCLAT Chennai)

Chalasani Udaya Sankar Vs Lexus Technologies Pvt. Ltd. (NCLAT Chennai) It is to be pointed out that the ‘Lockdown’ period during COVID is an extraordinary situation. Furthermore, this ‘Appellate Tribunal’ is of the considered opinion that in every ‘order’ passed by the ‘Tribunal’ ‘sobriety’, ‘calm composure’, ‘po...

Read More
Posted Under: Corporate Law | |

NCLAT refuses to stay Piramal Group’s DHFL resolution plan

63 Moons Technologies Ltd. Vs The Administrator of Dewan Housing Finance Corporation Ltd. (NCLAT Delhi)

63 Moons Technologies Ltd. Vs The Administrator of Dewan Housing Finance Corporation Ltd. (NCLAT Delhi) 1. Company Appeal (AT) (Insolvency) No.454 of 2021 has been filed against impugned order dated 7th June, 2021 passed in IA 623/2021 in IA 449/MB/C-II/2021 in CP (IB) 4258/MB/C-II/2019. By the impugned order, the Interlocutory Applicatio...

Read More
Posted Under: Corporate Law | |

Statutory dues cannot be claimed if not exists in company’s approved RP for DHFL

Piramal Capital &

All the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the Company’s approved resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date the Adjudicating Authority was granting its approval under Sect...

Read More
Posted Under: Corporate Law | |

Liquidation should be the last resort after proper evaluation & calibration

Lotus City Plot Buyers Welfare Association Vs Three C Homes Pvt. Ltd &

In present facts of the case, the Hon’ble Appellate Tribunal held that Liquidation is the last resort and this programme of homebuyers needs some calibration and proper evaluation....

Read More
Posted Under: Corporate Law | |

Browse All Categories

CA, CS, CMA (5,807)
Company Law (7,807)
Custom Duty (8,844)
DGFT (4,671)
Excise Duty (4,562)
Fema / RBI (4,900)
Finance (5,283)
Income Tax (38,961)
SEBI (4,218)
Service Tax (3,821)

Search Posts by Date

December 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031