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NCLT Bengaluru held that once the Resolution Plan is approved, no claim that is not a part of the Resolution Plan can exist or continue. Thus, changes in the resolution plan post adjudication of arbitration proceedings not tenable.
This application has been filed by the suspended director of M/s. Manjeera Retail Holdings Private Limited (MRHPL), which, along with its holding company, Manjeera Constructions Limited (MCL), is undergoing Corporate Insolvency Resolution Process (CIRP).
The moot question arises to be determined here is whether in cases where the amount of default is less than 1 Crore, the Personal Guarantor can be treated as Insolvent and the application under Section 95 can be maintained against him.
NCLT Ahmedabad approved application filed u/s. 66 of the Companies Act, 2013 by Mahan Industries Limited for reduction of share capital as approved by the Shareholders by passing a Special Resolution.
Analysis of the NCLT Chandigarh judgment on Haldirams Snacks and Haldiram Foods restructuring under Section 230-232 of the Companies Act, 2013.
Detailed analysis of NCLT Ahmedabad’s order on Suzlon Global Services Ltd and Suzlon Energy Ltd merger under Sections 230-232 of the Companies Act, 2013.
Delhi HC rules notices issued to amalgamating companies post-merger are void. Case highlights Section 87 and 160 of CGST Act in HCL Infosystems Ltd. vs CST.
The application made by the Financial Creditor is complete in all respects as required by law. Therefore, the debt and default stand established and there is no reason to deny the admission of the Petition.
Government response on political appointments in NCLT/NCLAT and reasons behind delays in IBC case disposal.
Explore controversy over appointed date in schemes of arrangement, MCA clarifications, court rulings and challenges surrounding future appointed dates.
