Company Law : The article explains that eligible Government companies require Central Government approval under Sections 230–232. NCLT approva...
Company Law : The Tribunal held that its wide powers under Sections 241-242 and Rule 11 cannot override the mandatory conditions prescribed unde...
Fema / RBI : RBI amended the Cross Border Merger Regulations to replace NCLT-specific references with the broader term "Competent Authority." T...
Company Law : The MCA introduced a risk-based eligibility framework allowing more companies to access fast-track mergers. By replacing size crit...
Company Law : The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
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...
Company Law : NCLT retained the freeze on assets citing serious SFIO findings but ordered defreezing of the salary account and family members' a...
Corporate Law : NCLT admitted the Section 9 petition after holding that campaign-related emails did not constitute a genuine pre-existing dispute....
Corporate Law : NCLT Amaravati held that the corporate debtor's OTS proposals constituted acknowledgments of debt, giving rise to a fresh limitati...
Corporate Law : NCLT held that courts cannot interfere with CoC's commercial decisions where the resolution plan satisfies statutory requirements....
Corporate Law : NCLT held TReDS reverse factoring dues remained operational debt, not financial debt, making a Section 7 IBC insolvency petition n...
Corporate Law : The order permits single judicial members to handle procedural and uncontested matters. It ensures faster case disposal while pres...
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 ...
The NCLT held that partial repayments do not wipe out a financial default once the debt has become due and remains unpaid. Finding financial debt and default established, it admitted the Section 7 insolvency application and initiated CIRP.
The NCLT held that a DRT Recovery Certificate provides a fresh cause of action, making the Section 7 application filed within three years maintainable. It admitted the CIRP after finding that financial debt and default were established.
The NCLT held that consent letters alone were insufficient for dispensing with the secured creditors’ meeting. It directed the meeting to be convened while granting dispensation for other stakeholder meetings where affidavit-based consents were available.
The Kerala High Court held that although the NCLT order was recorded as a consent order, the petitioner could challenge the portion imposing ₹1 lakh per day for non-compliance. The Court granted time to file an appeal before the appellate tribunal.
The NCLT admitted a Section 7 insolvency application after finding that the Corporate Debtor had acknowledged its liability under the corporate guarantee. The Tribunal held that financial debt and default were established, leading to initiation of CIRP.
The NCLT held that an investment made under a film production and revenue-sharing agreement did not constitute an Operational Debt. As no goods or services were provided, the Section 9 IBC petition was dismissed as not maintainable.
Where a composite scheme of arrangement satisfies the procedural requirements of sections 230 to 232 of the Companies Act, 2013 and the requisite stakeholder consents are available, the Tribunal may dispense with meetings of the concerned classes, direct compliance with statutory notice requirements and permit the scheme to proceed to the second motion stage for final sanction.
NCLT Mumbai compounded the offence for failure to hold the AGM within the time prescribed under Section 96 of the Companies Act, 2013. The Tribunal directed payment of a compounding fee after finding a continuing statutory default.
NCLT Mumbai dispensed with meetings of shareholders and certain creditors after noting that the transferor company was a wholly owned subsidiary of the transferee company. The Tribunal held that no shares were required to be issued under the proposed amalgamation.
The NCLT Kochi held that a loan cannot be treated as secured financial debt during CIRP where the security interest exists only over the promoters’ personal assets. It directed reclassification of the claim as unsecured financial debt and ordered reconstitution of the Committee of Creditors, if required.
