NCLT

Pioneering Precedent: NCLAT’s Inherent Authority to Recall Judgments

Corporate Law - NCLAT possesses inherent powers, as outlined in Rule 11 of NCLAT Rules, 2016, enabling them to recall a judgement in cases involving procedural errors....

Latest Case Law Related to IBC – April to June 2023

Corporate Law - Supreme Court Orders Sanket Kumar Agarwal & Anr. Vs. APG Logistics Pvt. Ltd. [Civil Appeal No. 748 of 2023] The SC held that section 238A of the Code enable application of provisions of the Limitation Act, 1963. Rule 3 of the NCLAT Rules, 2016 is in line with section 12(1) of the Limitation Act, 1963 […]...

Decree Holder under RERA remains a creditor in Home Buyers class: NCLT

Corporate Law - The Hon’ble NCLT, Mumbai in CP(IB) No. 21/MB-IV/2023 has taken a view on 02.08.2023 that Real Estate Project, who subsequently becomes a Decree Holder under RERA Act, continues to be a creditor in the class of Home Buyers and shall continue to be governed by the threshold limit prescribed under second proviso to section 7(1) […]...

Power of NCLAT to Recall judgement upheld by Appellate tribunal

Corporate Law - Q: Does the National Company Law Appellate Tribunal (NCLAT / Appellate Tribunal/ Tribunal) have the power to recall its judgment? Ans: A five-member bench under the chairpersonship of Honorable Justice Ashok Bhushan, in the case of ‘Union Bank of India v. Dinkar T. Venkatasubramanian’ (order dated 25-05-2023), ruled that altho...

COC can approach to Court for Forensic Audit of Corporate Debtor

Corporate Law - An application was moved by one of the secured financial creditor in the matter Motel Rahans Pvt. Ltd. Vs JSM Devcons Pvt Ltd. before the Hon’ble NCLT Indore Bench in C.P.(IB)/56(MP) 2021 who precipitate precept certain irregularities/transactions qua the assets of the Corporate Debtor. The Applicant sought the appointment of an indepen...

CBI Arrests An IRP of NCLT In A Bribery Case

Corporate Law - Central Bureau of Investigation has arrested an Interim Resolution Professional (IRP), National Law Tribunal (NCLT), Mumbai and two private persons including Proprietor of Mumbai based firm in a  bribery case of Rs. Two Lakh....

Decriminalization of offences under Companies Act, 2013

Corporate Law - Over the years, for violations under the Companies Act, 2013 the government had been filing criminal cases as per the provisions of the Act. Out of more than 40,000 cases filed under the Companies Act, 1956 and Companies Act, 2013, almost 39,000 cases (more than 97 per cent) did not involve lapses of serious nature....

Representation for further extension of CFSS 2020

Corporate 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...

19844 cases pending before NCLT

Corporate 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)....

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

Corporate 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...

Resolution plan approved by CoC cannot be interfered by Adjudicating Authority

SREI Infrastructure Finance Limited Vs Gujarat Hydrocarbons And Power SEZ Limited (NCLT Delhi) - NCLT Delhi held that resolution plan submitted by the Successful Resolution Applicant which was approved by CoC cannot be interfered by Adjudicating Authority. Adjudicating Authority is not empowered to analyse or evaluate commercial decision of CoC....

NCLT approves Resolution Plan for Cengres Tiles Limited

Pradeep Kumar Kabra RP For Cengres Tiles Ltd Vs COC of Cengres Tiles Ltd & Ors (NCLT Ahmedabad) - NCLT approves resolution plan filed by Pradeep Kumar Kabra RP for Cengres Tiles Ltd, ensuring its effective implementation. Get detailed insights into judgment....

Resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited is approved

In re GCCL Infrastructure and Projects Limited (NCLT Ahmedabad) - NCLT Ahmedabad approved the resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited (Corporate Debtor) as resolution plan has provisions of its effective implementation....

Understanding Judicial Review in IBC and Role of Adjudicating Authority

In re UCAL Products Private Limited (NCLT Chennai) - Explore scope of judicial review in IBC as defined by Supreme Court. Learn how Adjudicating Authority's role is limited to specific parameters, avoiding interference with commercial decisions....

NCLT Mumbai: PF/Gratuity Due Prioritized in Liquidation

Anuj Bajpai Vs Employee Provident Fund Organisation (NCLT Mumbai) - NCLT Mumbai held that PF/Gratuity dues are third-party assets belonging to workers and should be prioritized in liquidation. The EPFO claims will not fall under the waterfall mechanism of the IBC....

Govt invites applications for the post of Judicial & Technical Members in NCLT

No. A-12023/1/2023-Ad.IV-MCA - (06/06/2023) - Filling up of 05 (Five) posts of Judicial Member and 05 (Five) posts of Technical Members in the National Company Law Tribunal (NCLT) - inviting online applications for....

New Appointments in the National Company Law Tribunal

Notification No. [S.O. 2543(E)] - (25/05/2023) - The Ministry of Corporate Affairs announces the appointment of new Judicial and Technical Members in the National Company Law Tribunal....

NCLT prescribed Dress Code

File No. 25/02/2023-NCLT - (27/01/2023) - NCLT Dress Code for President, Members, Legal Practitioner, Authorised Representative, IRP/RP/Liquidator and parties in person File No. 25/02/2023-NCLT NATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated: 27th January 2023 ORDER In supercession of Natio...

Reporting to CICs – Report Cases admitted with NCLT/NCLAT under IBC 2016 – RBI

RBI/2022-23/153 DoR.FIN.REC.90/20.16.056/2022-23 - (13/12/2022) - It is clarified that cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 are also required to be reported under the suit-filed cases in reporting to the CICs....

SOP for NCLT cases of IBC 2016

Instruction No. 1083/04/2022-CX9 - (23/05/2022) - A timeline Of 90 days from the insolvency commencement date is available for filing of claims. However, it has been observed that there is an inordinate delay in filing of claims by Customs and GST authorities. T...

NCLT’s Popular Posts

Recent Posts in "NCLT"

Resolution plan approved by CoC cannot be interfered by Adjudicating Authority

SREI Infrastructure Finance Limited Vs Gujarat Hydrocarbons And Power SEZ Limited (NCLT Delhi)

NCLT Delhi held that resolution plan submitted by the Successful Resolution Applicant which was approved by CoC cannot be interfered by Adjudicating Authority. Adjudicating Authority is not empowered to analyse or evaluate commercial decision of CoC....

Posted Under: Corporate Law | |

NCLT approves Resolution Plan for Cengres Tiles Limited

Pradeep Kumar Kabra RP For Cengres Tiles Ltd Vs COC of Cengres Tiles Ltd & Ors (NCLT Ahmedabad)

NCLT approves resolution plan filed by Pradeep Kumar Kabra RP for Cengres Tiles Ltd, ensuring its effective implementation. Get detailed insights into judgment....

Posted Under: Corporate Law | |

Resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited is approved

In re GCCL Infrastructure and Projects Limited (NCLT Ahmedabad)

NCLT Ahmedabad approved the resolution plan submitted by M/s. GCCL Infrastructure and Projects Limited (Corporate Debtor) as resolution plan has provisions of its effective implementation....

Posted Under: Corporate Law | |

Pioneering Precedent: NCLAT’s Inherent Authority to Recall Judgments

NCLAT possesses inherent powers, as outlined in Rule 11 of NCLAT Rules, 2016, enabling them to recall a judgement in cases involving procedural errors....

Posted Under: Corporate Law |

Understanding Judicial Review in IBC and Role of Adjudicating Authority

In re UCAL Products Private Limited (NCLT Chennai)

Explore scope of judicial review in IBC as defined by Supreme Court. Learn how Adjudicating Authority's role is limited to specific parameters, avoiding interference with commercial decisions....

Posted Under: Corporate Law | |

Latest Case Law Related to IBC – April to June 2023

Supreme Court Orders Sanket Kumar Agarwal & Anr. Vs. APG Logistics Pvt. Ltd. [Civil Appeal No. 748 of 2023] The SC held that section 238A of the Code enable application of provisions of the Limitation Act, 1963. Rule 3 of the NCLAT Rules, 2016 is in line with section 12(1) of the Limitation Act, 1963 […]...

Posted Under: Corporate Law |

Decree Holder under RERA remains a creditor in Home Buyers class: NCLT

The Hon’ble NCLT, Mumbai in CP(IB) No. 21/MB-IV/2023 has taken a view on 02.08.2023 that Real Estate Project, who subsequently becomes a Decree Holder under RERA Act, continues to be a creditor in the class of Home Buyers and shall continue to be governed by the threshold limit prescribed under second proviso to section 7(1) […]...

Posted Under: Corporate Law |

NCLT Mumbai: PF/Gratuity Due Prioritized in Liquidation

Anuj Bajpai Vs Employee Provident Fund Organisation (NCLT Mumbai)

NCLT Mumbai held that PF/Gratuity dues are third-party assets belonging to workers and should be prioritized in liquidation. The EPFO claims will not fall under the waterfall mechanism of the IBC....

Posted Under: Corporate Law | |

Resolution plan by RP of Safeco Hygiene found to be feasible and viable hence approved

In re Charudutt Marathe (NCLT Ahmedabad)

NCLT Ahmedabad held that resolution plan submitted by Resolution Professional (RP) of the corporate debtor- Safeco Hygiene Films Pvt. Ltd. duly complies with regulations of CIRP Regulations, 2016 as well as IB Code and, the resolution plan is found to be both feasible and viable as held by CoC. Accordingly, the same is approved....

Posted Under: Corporate Law | |

Unanimous Approval: Univastu India’s Resolution Plan Accepted

Jitendra Palande Vs Univastu India Ltd (NCLT Mumbai)

NCLT Mumbai held that the Resolution Plan submitted by Univastu India Ltd. which was approved unanimously by the members of the Committee of Creditors (CoC) and which meets the requirements of law deserved to be approved....

Posted Under: Corporate Law | |

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