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Company Law - It is, for the matter of reality, that there is no mandate under the I&B Code which provides that whether the Resolution Plan’s value shall be more than the liquidation value of the Corporate Debtor. It is this perplexing issue that the case of Orchid Pharma Insolvency deals with. Th...
Read MoreCompany Law - NCLAT, recently, vide its order dated 18.11.2019 in the matter of State Bank of India v Anuj Bajpai, has held that the disqualified persons under Section 29A of the Insolvency and Bankruptcy Code, 2016 , are completely and irrevocably barred from having access to the assets of the Corporate Debtor. Details of the Order has been discussed ...
Read MoreCompany Law - All proceedings under the IBBI Code in respect of Corporate Insolvency are to be adjudicated by the National Company Law Tribunal (NCLT), which has been designed as the ‘Special One Window Forum’ to tackle all aspects of insolvency resolution. The NCLT is referred to as the ‘Adjudicating Authority’....
Read MoreCompany Law - Everyone knows High Court and Supreme Court but few People like CA/CS/Lawyers know NCLT & NCLAT. Lets through light on this topic in very simple language for better understanding of student and Public at Large. Introduction: – NCLT, National Company Law Tribunal is a quasi-judicial body to regulate and resolve Civil Corporate di...
Read MoreCompany Law - CS Vipin Kumar Mittal Keeping in view of the Section 248 to 252 of the Companies Act, 2013 (the Act), as notified by Ministry of Corporate Affairs (MCA) w.e.f. 26th December, 2016 and Rule 87A of the National Company Law Tribunal (NCLT) (Amendment) Rules, 2017 as notified by MCA w.e.f. 5th July, 2017, I have […]...
Read MoreCompany Law - Justice Mukhopadhaya raised serious concerns with regard to the constant delays in insolvency proceedings and said that the Members of NCLAT and NCLTs must cut the time period of insolvency proceedings short and focus on quicker disposal of cases. He emphasised that there are only limited grounds to argue at the stage of admission and tha...
Read MoreCompany Law - In pursuance of judgement of Hon’ble Supreme Court, the Government has decided to set up a bench of National Company Law Appellate Tribunal (NCLAT) at Chennai. This was stated by Shri Anurag Singh Thakur, Union Minister for State for Finance &Corporate Affairs, in a written reply to a question in Lok Sabha today....
Read MoreCompany Law - The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved creation of additional posts of three Judicial Members and three Technical Members in the National Company Law Appellate Tribunal (NCLAT)....
Read MoreCompany Law - 283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified. In view of the Supreme Court order dated 14 th May, 2015, the process for constitution of NCLT/NCLAT has been undertaken and these bodies are likely to be set up...
Read MoreCompany Law - In a landmark judgment, a five-judge constitution bench of the Supreme Court on Tuesday upheld the legality of the Companies (Second Amendment) Act, 2002, providing for the establishment of the National Company Law Tribunal and National Company Law Appellate Tribunal to deal exclusively with the company cases for their speedy disposal. ...
Read MoreDeloitte Haskins & Sells LLP. Vs Union of India (NCLAT) - Various acts of IL&FS like over borrowing were prejudicial to the public interest which had cascading impact on various sectors of the economy and the red signals were raised against the IL&FS by the country and even by the department of economic affairs of the country, therefore, before passing a...
Read MoreAdani Gas Limited Vs Competition Commission of India (NCLAT) - Penalty was leviable on assessee for contravention of provisions of section 4(2)(a)(i) of the Competition Act, 2002 (Act) by imposing unfair conditions upon the buyers under Gas Supply Agreement (GSA) and for abusing dominant position....
Read MorePacific World Shipping PTE Ltd. Vs Dadi Impex Pvt. Ltd. (NCLAT) - Pacific World Shipping PTE Ltd. Vs Dadi Impex Pvt. Ltd. (NCLAT) The main grievance of the Appellant is that the Operational Creditors have been given only token 2% of their claims admitted while the Financial Creditors are given 100% of their claims. The learned Counsel for the Bank has then relied ...
Read MoreMr. M. Ravindranath Reddy Vs Mr G. Kishan & Ors. (NCLAT) - Mr. M. Ravindranath Reddy Vs Mr G. Kishan & Ors. (NCLAT) Whether a landlord by providing lease, will be treated as providing services to the corporate debtor, and hence, an operational creditor within the meaning of Section 5(20) read with Section 5(21) of the ‘Insolvency and Bankruptcy Co...
Read MoreAteet Bansal Vs Unitech Ltd (NCLAT) - Following the principle of justice and equity, the defaulting company "Unitech" was liable to repay the amount to its deposit holders principal along with the future interest @12.5% per annum from the date of maturity of the respective FDR till receipt thereof alongwith Rs.50000/- each to assessees ...
Read MoreNotification No. S.O. 1060(E) - (13/03/2020) - Central Government hereby constitutes another Bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai to hear the appeals against the orders of the Benches of the National Company Law Tribunal (NCLT) having jurisdiction of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, Lak...
Read More[F. No. A-12018/02/2017- Ad-IV/P] - (14/10/2019) - Central Government (CG) delegates its powers and functions under section 418(1) of Companies Act, 2013 to provide officers and other employees to the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCALT) to the President and Chairperson of the said NCLT and N...
Read MoreG.S.R. 716(E) - (21/07/2016) - 1. Short title and commencement.- (1) These rules may be called the National Company Law Tribunal Rules, 2016. (2)They shall come into force on the date of their publication in the Official Gazette....
Read MoreG.S.R..... (E) - (21/07/2016) - 1. Short title and commencement.- (1) These rules may be called the National Company Law Appellate Tribunal Rules, 2016. (2)They shall come into force on the date of their publication in the Official Gazette....
Read MoreOrder No. 25/1/2016-NCLT - (29/06/2016) - Consequent to the notification no. S.O. 1935 (E) dated 1.6.2016 issued by the Central Government, Ministry of Company Affairs following criteria has been laid down for listing of the matters before the National Company Law Tribunal, Principal Bench and National Company Law Tribunal, New Delhi Bench....
Read MoreDeloitte Haskins & Sells LLP. Vs Union of India (NCLAT) -
Adani Gas Limited Vs Competition Commission of India (NCLAT) -
Pacific World Shipping PTE Ltd. Vs Dadi Impex Pvt. Ltd. (NCLAT) -
Mr. M. Ravindranath Reddy Vs Mr G. Kishan & Ors. (NCLAT) -
Notification No. S.O. 1060(E) - (13/03/2020) -
Ateet Bansal Vs Unitech Ltd (NCLAT) -
Liberty House Group Pte. Ltd. Vs State Bank of India & Ors. (NCLAT Delhi) -
Cyrus Investments Pvt. Ltd. Vs Tata Sons Ltd. & Ors. (NCLAT) -
