NCLT

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

Company 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...

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Compliance for Listed Entity before submission of Scheme of arrangement for NCLT sanction

Company Law - Regulation 11 of the listing regulations, inter-alia, provides that any scheme of arrangement / amalgamation / merger / reconstruction / reduction of capital etc. to be presented to any Court or Tribunal does not in any way violate, override or limit the provisions of securities laws or requirements of the Stock Exchanges....

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Procedure to Revive The Struck Off Company under Companies Act 2013 in Conjunction with NCLT Amendment Rules 2017

Company Law - Procedure To Revive The Struck Off Company Under Companies Act, 2013 In Conjunction With NCLT Amendment Rules 2017 In this Article, Process to revive the companies which has been struck off by ROC as per Section 248 of Companies Act, 2013 shall be discussed. Grounds on which Revival can be initiated : As per Section […]...

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Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC

Company Law - Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]...

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Case review of State Bank of India Vs Metenree Ltd

Company 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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Representation for further extension of CFSS 2020

Company Law - Due to the various ground realties the corporates have not been able to take benefit of the scheme. Therefore in these difficult times the extension of CFSS, 2020 is imperative and paying such hefty penalties & fines will not be in best interest of all stakeholders. Thus we request your good office to extend the CFSS, 2020 and other r...

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19844 cases pending before NCLT

Company Law - As on 31st July, 2020, total 19,844 cases were pending before National Company Law Tribunal (NCLT), including 12,438 cases under Insolvency and Bankruptcy Code (IBC)....

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SC order binding on everyone in India; NCLT benches to remain close till 31.03.2020

Company Law - National Company Law Tribunal 6th Floor, Block-3, CGO Complex, Lodhi Road New Delhi-110003 Dated: 24.3.2020 NOTICE 1.With regard to Limitation,it is clear that the order dated 23.3.2020 passed by Hon’ble Supreme Court in suo motu WP-03/2020 is binding on everyone in India,for further clarification,it is hereby clarified that the lit...

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

Company 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

Company 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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Opportunity of hearing to affected parties is to be given before taking action

Rajdeep Clothing and Advisory Pvt. Ltd Vs Brijesh Kumar Mishra (NCLT Ahmedabad) - Rajdeep Clothing and Advisory Pvt. Ltd Vs Brijesh Kumar Mishra (NCLT Ahmedabad) Whether opportunity of hearing to the affected parties is to be given before taking such action? It is a legitimate expectation, both in equity and in law that person who is going to be punished or again whom some advers...

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Operational Creditor should demonstrate its Claim to be treated as Operational Debt under IBC

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT Kerala) - Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT) In the present case, the first point which arises for consideration is whether the debt falls within the purview of Operational Debt under Section 5 (21) of the I&B Code,2016? To arrive at a decision, this Tr...

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NCLT has limited jurisdiction in approval of resolution plan under IBC: SC

Jaypee Kensington Boulevard Vs NBCC (Supreme Court India) - Jaypee Kensington Boulevard Apartments Welfare Association & Ors. Vs. NBCC (India) Ltd. & Ors. (Supreme Court ) For what has been discussed and held on the relevant points for determination, our findings and conclusions are as follows: A. The Adjudicating Authority has limited jurisdiction i...

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NCLT/NCLAT can exercise jurisdiction under Section 60(6)(c) of IBC, 2016

Gujarat Urja Vikas Nigam Limited Vs Amit Gupta & Ors. (Supreme Court of India) - The jurisdiction of the NCLT under Section 60(5)(c) of the Code cannot be invoked in matters where a termination may take place on grounds unrelated to the insolvency of the CD. It cannot even be invoked in the event of a legitimate termination of a contract based on an ipso facto clause, if such te...

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Jurisdiction of NCLT over a particular case cannot be determined by Registrar

Skillstech Services Private Limited Vs Registrar, National Company Law Tribunal (Delhi High Court) - Skillstech Services Private Limited Vs Registrar, National Company Law Tribunal (Delhi High Court) The case of the Petitioner is that the Registrar of the NCLT has failed to even list the Petitioner’s matter before the appropriate bench of NCLT, on the ground that the threshold of the pecuniary ju...

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Regular hearing via Video conference at NCLT w.e.f. 12.04.2021

File No. 10/03/2021-NCLT - (09/04/2021) - Due to sharp increase in COVID-19 cases throughout the It has been decided to take up regular hearing through Video Conference w.e.f. 12.4.2021 at all NCLT Benches. The Benches shall sit as per Rule 9 of NCLT Rules, 2016- sitting hours of the Tribunal:...

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SOP for physical of cases before NCLT

File No. 10/03/2021-NCLT - (26/02/2021) - NCLT issues present Standard Operating Procedure (SOP) for physical hearing, as well as continuation of virtual hearing as per order dated 23.2.20201 which shall come into force w.e.f. 1.3.2021. The SOP is applicable to all NCLT Benches....

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Physical hearing by NCLT Benches w.e.f. 01.03.2021

Notification No. File No. 10/03/2021-NCLT - (23/02/2021) - All NCLT Benches shall start regular Physical hearing w.e.f. 1.03.2021. In case any counsel/ representative of party expresses difficulty in physical hearing, he/ she may be permitted for virtual hearing....

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MCA extends term of Acting President, NCLT

Notification No. S.O. 8(E) - (01/01/2021) - The term of office of Shri Bethala Shantha Vijaya Prakash Kumar, Member (Judicial), as Acting President, NCLT is further extended from 05.12.2020 to till the appointment of regular President of NCLT, or until the date on which he shall complete his tenure as Member (Judicial), NCLT i.e. 31.05.2021 (...

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Order of NCLT on Automatic Case Number Generation

File No. 25/02/2020-NCLT - (24/12/2020) - It is hereby informed that the Competent Authority has decided that Automatic Case Number Generation should be mandatorily started from In January 2021 in all NCLT benches across the Country....

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NCLT’s Popular Posts

Recent Posts in "NCLT"

Regular hearing via Video conference at NCLT w.e.f. 12.04.2021

File No. 10/03/2021-NCLT 09/04/2021

Due to sharp increase in COVID-19 cases throughout the It has been decided to take up regular hearing through Video Conference w.e.f. 12.4.2021 at all NCLT Benches. The Benches shall sit as per Rule 9 of NCLT Rules, 2016- sitting hours of the Tribunal:...

Read More

Opportunity of hearing to affected parties is to be given before taking action

Rajdeep Clothing and Advisory Pvt. Ltd Vs Brijesh Kumar Mishra (NCLT Ahmedabad)01/01/1970

Rajdeep Clothing and Advisory Pvt. Ltd Vs Brijesh Kumar Mishra (NCLT Ahmedabad) Whether opportunity of hearing to the affected parties is to be given before taking such action? It is a legitimate expectation, both in equity and in law that person who is going to be punished or again whom some adverse action is being […]...

Read More
Posted Under: Company Law | |

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

01/01/1970

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...

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Posted Under: Company Law |

Operational Creditor should demonstrate its Claim to be treated as Operational Debt under IBC

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT Kerala)01/01/1970

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT) In the present case, the first point which arises for consideration is whether the debt falls within the purview of Operational Debt under Section 5 (21) of the I&B Code,2016? To arrive at a decision, this Tribunal has gone through the judgement [&...

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Posted Under: Company Law | |

NCLT has limited jurisdiction in approval of resolution plan under IBC: SC

Jaypee Kensington Boulevard Vs NBCC (Supreme Court India)01/01/1970

Jaypee Kensington Boulevard Apartments Welfare Association & Ors. Vs. NBCC (India) Ltd. & Ors. (Supreme Court ) For what has been discussed and held on the relevant points for determination, our findings and conclusions are as follows: A. The Adjudicating Authority has limited jurisdiction in the matter of approval of a resolution...

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NCLT/NCLAT can exercise jurisdiction under Section 60(6)(c) of IBC, 2016

Gujarat Urja Vikas Nigam Limited Vs Amit Gupta & Ors. (Supreme Court of India)01/01/1970

The jurisdiction of the NCLT under Section 60(5)(c) of the Code cannot be invoked in matters where a termination may take place on grounds unrelated to the insolvency of the CD. It cannot even be invoked in the event of a legitimate termination of a contract based on an ipso facto clause, if such termination will not have the effect of ma...

Read More

SOP for physical of cases before NCLT

File No. 10/03/2021-NCLT 26/02/2021

NCLT issues present Standard Operating Procedure (SOP) for physical hearing, as well as continuation of virtual hearing as per order dated 23.2.20201 which shall come into force w.e.f. 1.3.2021. The SOP is applicable to all NCLT Benches....

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Physical hearing by NCLT Benches w.e.f. 01.03.2021

Notification No. File No. 10/03/2021-NCLT 23/02/2021

All NCLT Benches shall start regular Physical hearing w.e.f. 1.03.2021. In case any counsel/ representative of party expresses difficulty in physical hearing, he/ she may be permitted for virtual hearing....

Read More

Compliance for Listed Entity before submission of Scheme of arrangement for NCLT sanction

01/01/1970

Regulation 11 of the listing regulations, inter-alia, provides that any scheme of arrangement / amalgamation / merger / reconstruction / reduction of capital etc. to be presented to any Court or Tribunal does not in any way violate, override or limit the provisions of securities laws or requirements of the Stock Exchanges....

Read More
Posted Under: Company Law |

Jurisdiction of NCLT over a particular case cannot be determined by Registrar

Skillstech Services Private Limited Vs Registrar, National Company Law Tribunal (Delhi High Court)01/01/1970

Skillstech Services Private Limited Vs Registrar, National Company Law Tribunal (Delhi High Court) The case of the Petitioner is that the Registrar of the NCLT has failed to even list the Petitioner’s matter before the appropriate bench of NCLT, on the ground that the threshold of the pecuniary jurisdiction of the NCLT has now been [&he...

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