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...
It is hereby informed that the Competent Authority has decided that Automatic Case Number Generation should be mandatorily started from In January 2021 in all NCLT benches across the Country.
Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered to constitute the Committee of Creditors. We […]
Procedure To Revive The Struck Off Company Under Companies Act, 2013 In Conjunction With NCLT Amendment Rules 2017 In this Article, Process to revive the companies which has been struck off by ROC as per Section 248 of Companies Act, 2013 shall be discussed. Grounds on which Revival can be initiated : As per Section […]
Notification dated 24.03.2020 does not save the Applicant/ Corporate Debtor from the initiation of insolvency especially in cases where defaults towards creditors have taken place before the COVID pandemic and the resultant financial crisis. Such an interpretation would be contrary to the intention of the executive in exercise of its power of delegated legislation. If the intention was to provide for a blanket protection to Corporate Debtors from being dragged to the NCLT irrespective of when or what extent a default has taken place, it would necessarily require a legislative amendment, and that a mere issuance of the notification would not suffice.
Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]
File No. 10/03/2020-NCLT NATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated: 25 November 2020 ORDER The NCLT Benches are hereby re-constituted as under to attend regular hearing through Video Conference w.e.f. 1.12.2020. The Benches shall hear the matters of respective jurisdiction as were hearing before lockdown (before 23rd […]
Kaledonia Jute And Fibres Pvt. Ltd Vs Axis Nirman And Industries Ltd. & Ors. (Supreme Court of India) Section 278 of the 2013 Act shows that any petition by a single creditor or contributory is actually treated as a joint petition of creditors and contributories, so that the order of winding up operates in favour […]
From the report there does not appear any request of the Resolution Professional for issuance of the instructions for the purpose of conducting negotiations between the debtor and creditors for arriving at the repayment plan. Therefore, based on the reasons recorded in the report submitted by the Resolution Professional
As on 31st July, 2020, total 19,844 cases were pending before National Company Law Tribunal (NCLT), including 12,438 cases under Insolvency and Bankruptcy Code (IBC).
M/s. Neesa Infrastructure Limited vs State Bank of India (NCLT) Advocate, Mr. Nipun Singhvi appeared on behalf of the Respondent. The order is pronounced in the open court, vide separate sheet. 1. Sanjay Gupta, claiming himself to be the authorised signatory, on behalf of M/s. Neesa Infrastructure Limited filed this Petition under Section 10 of […]
