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 Mumbai held that application u/s. 10 of Insolvency and Bankruptcy Code seeking own Corporate Insolvency Resolution Process [CIRP] is admitted as the Corporate Applicant is in default of a debt due. Accordingly, writ petition allowed.
NCLT Mumbai held that application u/s. 9 of IBC for initiation of Corporate Insolvency Resolution Process [CIRP] against M/s. Kute Sons Dairys Limited [Corporate Debtor] admitted as debt and default thereon established.
NCLT Mumbai held that initiation of liquidation of Corporate Debtor in terms of section 33(2) of the Insolvency and Bankruptcy Code admitted as members of CoC having 66.29% voting share approved resolution to initiate liquidation.
NCLT Mumbai held that application under section 7 of the Insolvency and Bankruptcy Code against Corporate Debtor [Quanteco World Limited] for initiation of Corporate Insolvency Resolution Process [CIRP] is admissible since debt and default duly established.
NCLT Cuttack held that a pre-existing dispute cannot be a bar for admission of an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. Accordingly, CIRP application against S.S. Aluminium Private Limited admitted as debt and default established.
NCLT Cuttack held that application for initiation of Corporate Insolvency Resolution Process [CIRP] under section 7 of the Insolvency and Bankruptcy Code [IBC] admitted against Corporate Debtor [Fortune Spirit Limited] as debt and default in payment of debt duly proved.
Corporate Debtor had defaulted in repayment of financial debt to the Applicant and such default was well over the minimum threshold of Rs. 1 crore, as prescribed u/s 4 of the Code. The application filed u/s 7 of the Code was complete and there were no disciplinary proceedings pending against the proposed resolution professional.
NCLT Delhi held that application filed u/s. 12A of Insolvency and Bankruptcy Code [IBC] for withdrawal of CIRP allowed as unconditional consent accorded by the sole Financial Creditor. Accordingly, application allowed.
NCLT Kolkata taking recourse to section 65 of the Insolvency and Bankruptcy Code directs closure of CIRP since initiation of CIRP was done fraudulently with malicious intent to escape from government dues and for wrongful gain.
NCLT Kolkata held that application under section 7 of the Insolvency and Bankruptcy Code for initiating Corporate Insolvency Resolution Process [CIRP] against Shivam India Limited [Corporate Debtor] is admitted. Accordingly, writ petition allowed.
