Company Law : The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory...
Corporate Law : This analysis explains how NCLT continues to respect CoC commercial wisdom but now intervenes when procedures, legality, or fairne...
Corporate Law : RTI inquiry into NCLT/NCLAT reveals member vacancies, lack of consolidated case data, and opaque appointments, highlighting need f...
Corporate Law : The NCLT has ruled that banks can classify accounts as fraudulent during IBC proceedings, clarifying that a moratorium does not sh...
Corporate Law : NCLT rules that the IBC's moratorium applies to all proceedings against a corporate debtor, including quasi-judicial and assessmen...
Company Law : ICSI raised concerns over delays in NCLT hearings affecting corporate restructuring and insolvency matters. It emphasized the need...
Company Law : ICSI has urged the government to set up an NCLT Bench in Pune citing 30,600 pending cases and prolonged insolvency timelines. The ...
Company Law : With insolvency cases taking up to 853 days against the 330-day mandate, concerns over NCLT backlog have intensified. A new bench ...
Corporate Law : From 2022-23 to 2024-25, appeals filed at NCLAT rose steadily, with IBC cases forming the majority, reflecting active engagement i...
Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
Corporate Law : Bank of India Vs Neurostar Hospital Private Limited (NCLT Mumbai) The application was filed under Section 7 of the Insolvency and ...
Corporate Law : The issue involved rejection of a delayed claim in bankruptcy proceedings. The Tribunal held that concealment of material facts by...
Corporate Law : The tribunal permitted substitution of original petitioners with a new shareholder after transfer of shares. The key takeaway is t...
Corporate Law : NCLT Mumbai held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Res...
Corporate Law : The Tribunal held that default under the loan agreement existed independently of the arbitral award challenge. It ruled that absen...
Corporate Law : Details of Judicial and Technical Members assigned to NCLT benches across India as per the latest order issued by the Ministry of ...
Corporate Law : Read about the case involving Chetan Patel, an Insolvency Professional, with detailed analysis of alleged contraventions and submi...
Corporate Law : IBBI Disciplinary Committee suspends Sanjay Singh, an Insolvency Professional, for irregularities in the e-auction process. Detail...
Company Law : Explore the order dated 03.02.2024 from NCLT Chandigarh transferring all pending cases from Bench 2 to Bench 1. Detailed analysis ...
Corporate Law : Filling up of 05 (Five) posts of Judicial Member and 05 (Five) posts of Technical Members in the National Company Law Tribunal (NC...
NCLT Delhi held that application filed under section 7 of the Insolvency and Bankruptcy Code by State Bank of India for initiation of Corporate Insolvency Resolution [CIRP] against Giga Pipe Systems Pvt. Ltd. admitted since financial debt and default established.
NCLT Ahmedabad held that statutory demand notice duly signed by Operational Creditor and served upon Corporate Debtor through advocate is valid in eye of law. Accordingly, Corporate Debtor [Vimla Fuels and Metals Limited] is admitted to CIRP u/s. 9(5) of IBC.
NCLT Chennai held that discretionary power on NCLT u/s. 7(5)(a) of the Insolvency and Bankruptcy Code cannot be used to impel financial creditor to consider settlement proposed by Corporate Debtor. Accordingly, CIRP against Aban Offshore Limited admitted.
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Gupta Power Infrastructure Limited [Corporate Debtor] admitted for default of Rs. 2888 Crore.
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Process for initiation of Corporate Insolvency Resolution Process [CIRP] against Wind World (India) Infrastructure Private Limited [Corporate Debtor] admitted since Financial Creditors have proved existence of debt and default.
NCLT Chennai directs initiation of liquidation proceedings under section 33 of the Insolvency and Bankruptcy Code of the Corporate Debtor due to failure of implementing the resolution plan. Thus, the present application is allowed.
NCLAT Chennai held that application under section 244 of the Companies Act, 2013 seeking waiver by the non-members cannot be allowed. Accordingly, order quashed and appeal stands allowed.
NCLT Mumbai held that resolution plan submitted by M/s. Priyam Projects (I) Pvt. Ltd. [Successful Resolution Applicant] for M/s. Steadfast Shipping Private Limited [Corporate Debtor] meeting requirements of Section 30(2) of IBC and Regulations 37, 38, 38 (1A) and 39 (4) of the Regulations stands approved.
NCLT Jaipur held that conduct of the present Resolution Professional in CIRP proceeding of the Corporate Debtor [M/s U. N. Automobile Private Limited] seems to be non-transparent and in clear violation of the core objectives and principles of the Code.
The Honble Apex Court further held that the discretion of the Adjudicating Authority is circumscribed by Section 31 of the Code and is limited to scrutiny of the Resolution Plan as approved by the requisite percent of voting share of financial creditors.
