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Fema / RBI : It is clarified that cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) unde...
NCLAT Delhi held that amount having not been received from the corporate debtor, there was no applicability of Section 14 of the IBC and moratorium was not applicable with regard to any payment by co-applicant. Thus, direction of adjudicating authority for reversal of amount is unsustainable.
This provision cannot be used as right for any person to claim that he is entitled to give its opinion to the Court on any question of law involved in a case. We, thus, are of the view that Rule 8A needs to be applied keeping the objects and reasons of rule as above.
NCLAT Delhi held that no authorized correspondence brought on record which states that there was agreement between appellant and corporate debtor to cost incurred by appellant would be settled against license fee payable to Corporate Debtor. Thus, argument of appellant rejected.
The NCLAT, Mumbai, ruled that the Limitation Act applies to CIRP applications, affirming that an application for a time-barred debt cannot be entertained.
NCLAT Delhi held that dismissal of section 9 application under the Insolvency and Bankruptcy Code upheld a case of pre-existing dispute arises out of termination of contract. Accordingly, appeal rejected and order of adjudicating authority upheld.
NCLAT Delhi rejects Vir Jai Khosla’s request to video record appeal proceedings, citing no special reasons despite fraud allegations in Essar Steel resolution plan dispute.
NCLAT Delhi rejects a plea to recall its order dismissing appeals in Paritosh Jain Vs Manoj Kulshrestha, citing the Supreme Court’s limited grounds for recall.
The NCLAT dismisses an appeal by promoters and personal guarantors of Sharon Bio Medicine Ltd., clarifying that personal guarantees are independent contracts and not discharged by a resolution plan under the IBC.
The NCLAT ruled that provident fund dues are not corporate debtor assets and must be paid in full during CIRP, prioritizing them over all other debts.
NCLAT Delhi held that it is not justified to start entire process from stage of Information Memorandum since CIRP period has already came to an end and Adjudicating Authority has remitted matter to CoC for fresh consideration of resolution plan.
