NCLAT

Merger Case Study- Private Limited Company with LLP

Corporate Law - Recently there is judgment passed by the Chennai Bench of NCLT, on 11/06/2018 approving the scheme of Amalgamation where a merger was effected amongst an Indian company (private limited company) and a LLP (Limited Liability Partnership)....

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Case review of State Bank of India Vs Metenree Ltd

Corporate Law - This article is about judgment of NCALT/NCLT  in the matter of STATE BANK OF INDA V. M/S METENERE Ltd, on aspect of Interim Resolution Professional (herein refers as IRP). NCALT affirmed in the judgement in which it has been held that an ex-employee of creditor, having long association with creditor should be substituted, because he [&he...

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Calcutta HC strikes down NCLT order of creditor-filing of default record

Corporate Law - On Aug 19th the Calcutta High Court has nullified the order of the National Company Law Tribunal (NCLT) order that provided earlier all financial creditors shall be required to mandatorily file a default record from information utility along with a plea under Section 7 of Insolvency & Bankruptcy Code. These findings were provided ...

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Analysis of notification on rules for investigation of NCLT & NCLAT’s members

Corporate Law - Analysis of ministry of corporate affair’s notification on rules for investigation of NCLT and NCLAT’s members The Ministry of Corporate Affairs on July 28, 2020 notified The National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehavior or incapacity of Chairperson, President and...

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Does NCLT has Power to Direct A Pre-Admission Enquiry?

Corporate Law - An insolvency application filed by an Operational Creditor U/s 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) can be resisted on the ground that there is an ‘existing dispute‘, the I&B Code does not provide for such a defence for resisting an insolvency application filed in respect of a financial debt U/s 7 [...

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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)...

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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...

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NCLAT & NCLT members to stick to time limits to cut delays in insolvency cases

Corporate 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...

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Govt to set up National Company Law Appellate Tribunal Bench in Chennai

Corporate 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....

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Cabinet Approves creation of Additional posts in NCLT

Corporate 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)....

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Lease rentals from use & occupation of a cold storage unit is ‘Operational Debt’ u/s 5(21) of IBC 2016

Anup Sushil Dubey Vs National Agriculture Co-operative Marketing Federation of India Ltd. (NCLAT) - Lease rentals arising out of use and occupation of a cold storage unit which was for Commercial Purpose was an ‘Operational Debt’ as envisaged under Section 5 (21) of the Code....

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Article 226 cannot be invoked to challenge order passed by NCLT

Sulochana Gupta Vs RBG Enterprises Pvt. Ltd. (Kerala High Court) - Sulochana Gupta Vs RBG Enterprises Pvt. Ltd. (Kerala High Court) Writ petition filed under Article 226 of the Constitution of India, can be for the enforcement of fundamental rights or for any other purpose, as envisaged under Article 226 of the Constitution. There is no pleadings or materials to su...

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Decree-Holder cannot be treated as a Financial Creditor for CIRP: NCLAT

Sh. Sushil Ansal Vs. Ashok Tripathi (NCLAT) - Sh. Sushil Ansal Vs. Ashok Tripathi (Delhi NCLAT) (i) Respondent Nos. 1 and 2 can no more claim to be allottees of a Real Estate Project after issuance of Recovery Certificate dated 10th August, 2019 by ‘UP RERA’ directing recovery of Rs.73,35,686.43/- due thereunder as arrears of land revenue b...

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Corporate Debtor cannot raise dispute post approval of Resolution plan by Committee of Creditors: SC

Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court) - Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court) If all the factors that need to be taken into account for determining whether or not the corporate debtor can be kept running as a going concern have been placed before the Committee of Creditors and the CoC has taken a cons...

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NCLAT dismissed Insolvency Proceedings Initiated against Tata Chemicals

Allied Silica Limited Vs Tata Chemicals Limited (NCLAT, Delhi) - The issue under consideration is whether the initiative of insolvency proceedings against Tata Chemicals is sustain even if the corporate debtor has not complied with the procedural aspects?...

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Term of NCLAT Chairperson, Bansi Lal Bhat extended

Notification No. S.O. 3168(E) - (17/09/2020) - Term of office of Justice (Retd.) Shri Bansi Lal Bhat, Member (Judicial) as officiating Chairperson, NCLAT is extended upto 16.10.2020 or until a regular Chairperson is appointed or until further orders, whichever is the earliest....

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NCLT & NCLAT(Procedure for investigation of misbehaviour or incapacity of Chairperson, President and other Members) Rules, 2020

Notification No. G.S.R. 470(E) - (28/07/2020) - These rules may be called the National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehavior or incapacity of Chairperson, President and other Members) Rules, 2020....

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Constitution of NCLAT Bench at Chennai

Notification 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...

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CG delegates powers to appoint Officers/Staff to NCLT/NCALT

[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...

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National Company Law Tribunal (NCLT) Rules, 2016

G.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....

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NCLAT’s Popular Posts

Recent Posts in "NCLAT"

Lease rentals from use & occupation of a cold storage unit is ‘Operational Debt’ u/s 5(21) of IBC 2016

Anup Sushil Dubey Vs National Agriculture Co-operative Marketing Federation of India Ltd. (NCLAT)

Lease rentals arising out of use and occupation of a cold storage unit which was for Commercial Purpose was an ‘Operational Debt’ as envisaged under Section 5 (21) of the Code....

Read More
Posted Under: Company Law | |

Article 226 cannot be invoked to challenge order passed by NCLT

Sulochana Gupta Vs RBG Enterprises Pvt. Ltd. (Kerala High Court)

Sulochana Gupta Vs RBG Enterprises Pvt. Ltd. (Kerala High Court) Writ petition filed under Article 226 of the Constitution of India, can be for the enforcement of fundamental rights or for any other purpose, as envisaged under Article 226 of the Constitution. There is no pleadings or materials to substantiate that the appellants are disch...

Read More

Decree-Holder cannot be treated as a Financial Creditor for CIRP: NCLAT

Sh. Sushil Ansal Vs. Ashok Tripathi (NCLAT)

Sh. Sushil Ansal Vs. Ashok Tripathi (Delhi NCLAT) (i) Respondent Nos. 1 and 2 can no more claim to be allottees of a Real Estate Project after issuance of Recovery Certificate dated 10th August, 2019 by ‘UP RERA’ directing recovery of Rs.73,35,686.43/- due thereunder as arrears of land revenue by the Competent Authority. On their [&he...

Read More
Posted Under: Company Law | |

Term of NCLAT Chairperson, Bansi Lal Bhat extended

Notification No. S.O. 3168(E) (17/09/2020)

Term of office of Justice (Retd.) Shri Bansi Lal Bhat, Member (Judicial) as officiating Chairperson, NCLAT is extended upto 16.10.2020 or until a regular Chairperson is appointed or until further orders, whichever is the earliest....

Read More

Merger Case Study- Private Limited Company with LLP

Recently there is judgment passed by the Chennai Bench of NCLT, on 11/06/2018 approving the scheme of Amalgamation where a merger was effected amongst an Indian company (private limited company) and a LLP (Limited Liability Partnership)....

Read More
Posted Under: Company Law |

Corporate Debtor cannot raise dispute post approval of Resolution plan by Committee of Creditors: SC

Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court)

Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court) If all the factors that need to be taken into account for determining whether or not the corporate debtor can be kept running as a going concern have been placed before the Committee of Creditors and the CoC has taken a conscious decision to approve […]...

Read More

NCLAT dismissed Insolvency Proceedings Initiated against Tata Chemicals

Allied Silica Limited Vs Tata Chemicals Limited (NCLAT, Delhi)

The issue under consideration is whether the initiative of insolvency proceedings against Tata Chemicals is sustain even if the corporate debtor has not complied with the procedural aspects?...

Read More
Posted Under: Company Law | |

Case review of State Bank of India Vs Metenree Ltd

This article is about judgment of NCALT/NCLT  in the matter of STATE BANK OF INDA V. M/S METENERE Ltd, on aspect of Interim Resolution Professional (herein refers as IRP). NCALT affirmed in the judgement in which it has been held that an ex-employee of creditor, having long association with creditor should be substituted, because he [&he...

Read More
Posted Under: Company Law |

Calcutta HC strikes down NCLT order of creditor-filing of default record

On Aug 19th the Calcutta High Court has nullified the order of the National Company Law Tribunal (NCLT) order that provided earlier all financial creditors shall be required to mandatorily file a default record from information utility along with a plea under Section 7 of Insolvency & Bankruptcy Code. These findings were provided ...

Read More
Posted Under: Company Law |

NCLAT: NCLT has to sit with two members bench and not singly as per SC directions

Indison Agro Foods Ltd. Vs Registrar & Anr. (NCLAT Delhi)

Indison Agro Foods Ltd. Vs Registrar & Anr. (NCLAT Delhi) Hon’ble NCLAT in a landmark judgement directed Hon’ble President NCLT to constitute a bench of Two members of Judicial and Technical Member. The issue came for consideration in an interesting case where the insolvency matter was filed before NCLT Indore Bench, however one o...

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Posted Under: Company Law |

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