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...
National Company Law Tribunal Bar Association Vs Union of India (Supreme Court) The petitioner contends that the notification S.O. 3412 (E) dated 20 September 2019 issued by the Ministry of Corporate Affairs appointing 28 candidates as Members of the National Company Law Tribunal for a tenure of three years is contrary to the provisions of Section […]
Held that the petition filed by financial creditors (home buyers) is admitted and principal amount paid to corporate debtor is also accepted as financial debt.
Once a successful bidder had accepted and purchased the Corporate Debtor in slump sale under IBC, the bidder could not request to convert that sale into a sale of Corporate Debtor as a going concern from slump sale as it would affect the rights of members of the stakeholders’ committee prejudicially .
Whether order of the Adjudicating Authority (‘NCLT’) can be challenged in a proceeding under Article 226, has been, recently, analysed in the matter of Tharakan Web Innovations Pvt. Ltd. Vs. National Company Law Tribunal (1st February, 2022) in W.P. (C) Nos. 27636 of 2020 & 14158 of 2021 before Kerla High Court.
Held that being a third-party, Amazon.com cannot question the initiation of CIRP proceedings u/s 7 of IBC 2016 against the Corporate Debtor.
Held that moratorium under section 14 of the Insolvency and Bankruptcy Code is applicable to legal proceedings initiated in terms of the EPF & MP Act
Delta Electro Mechanical Pvt. Ltd. Vs Sahara Hospitality Ltd. (NCLT Mumbai) NCLT Terminates CIRP of Sahara Hospitality as parties signed settlement whereby the parties have agreed to settle disputes amongst each other for an amount of Rs. 8,00,00,000/ The present application is filed under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with […]
The NCLT vide its order dated 18th July, 2022 terminated the corporate insolvency resolution process (CIRP) initiated against Videocon Infinity Infrastructure Private Limited (CD) and imposed a penalty of penalty of Rs.50 lakh on FC under section 65 of the Code.
NCLT held that suspended management must be provided with copy of resolution plan. However, resolution professional can take an undertaking from members of erstwhile Board of Directors to maintain confidentiality.
Since, the claims are appeared for audited balance sheet of the Corporate Debtor, it is a duty of the RP to consider it for inclusion in information memorandum.
