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22 hours, 13 minutes ago

CIRP Withdrawal Cannot Be Allowed Unless Application Is Filed By Applicant Who Initiates Section 7 Application: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that CIRP cannot be withdrawn under section 12A read with Regulation 30A unless application for withdrawal is filed by the applicant who initiated the CIRP. Based on the above, the tribunal observed that “we are of the view that Adjudicating Authority did not commit any error …

Trust Application Order Applicant Nclt Mou Filed

22 hours, 37 minutes ago

Jharkhand HC Reduces Interest Rate, Compensation By MACT To Family Of Deceased 50-Year-Old, Cites Excessive Award Under Conventional Head

Live Law

The Jharkhand High Court has slashed the interest rate on compensation awarded to the family of a 50-year-old barber who was struck by a mini-bus, ruling that the 12% annual interest granted by the Motor Accident Claims Tribunal, Dumka, was excessive. Justice Subhash Chand, presiding over the case, reduced the interest rate to 7.5%, stating, “The impugned Award passed by …

Insurance Compensation Court Interest Company Tribunal High

2 days, 15 hours ago

CIRP Withdrawal Cannot Be Allowed Unless Application Is Filed By Applicant Who Initiates S.7 Application: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that CIRP cannot be withdrawn under section 12A read with Regulation 30A unless application for withdrawal is filed by the applicant who initiated the CIRP. Based on the above, the tribunal observed that “we are of the view that Adjudicating Authority did not commit any error …

Trust Application Order Applicant Nclt Mou Filed

2 days, 19 hours ago

Non Impleadment Of Owner As Party By Liquidator In Application U/S 19 Of IBC Not Malafide If Ownership Was Uncertain: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Arun Baroka and Barun Mitra has held that non impleadment of the owner in application under section 19 of the code filed by the liquidator due to the uncertainty over the ownership of the premises cannot be termed malafide. However, on 01.07.2020, the liquidator filed Section 19 application under IBC …

Corporate Office Application Tribunal Filed Owner Authority

5 days, 11 hours ago

Non-Admission Of Claim By Resolution Professional Cannot Be Challenged First Time In Appeal Before Appellate Tribunal: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Mr. Arun Baroka has held that non admission of claim in the Resolution Plan by the Resolution Plan if not challenged before the Adjudicating Authority cannot be challenged in the appeal before the NCLAT. The same Resolution Plan of Respondent Nos.2 and 3 approved by the Adjudicating Authority on 28.11.2019 …

Appeal Resolution Order Resolution Professional Resolution Plan Tribunal Respondent

1 week, 1 day ago

NCLT Can Allow Date Of Default To Be Amended In CIRP Proceedings: NCLAT

Live Law

The National Company Law Appellate Tribunal bench of Justice Rakesh Kumar Jain, Mr. Naresh Salecha and Mr. Indevar Pandey has held that the NCLT is empowered to allow the parties to amend the pleadings before the final orders in Corporate Insolvency Resolution Process proceedings are passed. The initial default date of 31.10.2020 falls within the moratorium period under Section 10A, …

Corporate Corporate Debtor Bank Tribunal Held Period Nclt

1 week, 4 days ago

Authority Processing Duty Credit Scrip Applications Is 'Adjudicating Authority' For Appeal Under Foreign Trade Act: Bombay High Court

Live Law

In a case under the Foreign Trade Act, 1992, the Bombay High Court held that the authority processing applications for duty credit scrip entitlement must be considered an 'adjudicating authority', whose decisions are subject to appeal, for the limited purpose of Section 15 read with Section 9 of the Act. “Therefore, when Section 9 deals with issuance of MEIS scrip …

Trade Appeal General Court Order Foreign Trade Foreign

1 week, 5 days ago

[GST] Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court

Live Law

The Allahabad High Court has held that an assessee cannot file for the supply of requisite documents after the adjudicating body has accepted the plea placed by them and issued notice pursuant to it. Petitioner replied stating that the discrepancies pointed out were lesser than the amount calculated in the notice and filed the requisite documents. High Court Verdict The …

Court Documents Notice File Petitioner Requisite Documents

Haryana RERA - No Additional Compensation To Homebuyer When Interest For Delayed Possession Already Granted

Live Law

Haryana Real Estate Regulatory Authority Bench comprising Rajender Kumar dismissed the homebuyer's complaint against M/s. Authority held that no additional compensation can be granted to the homebuyer when delay possession compensation has already been granted along with interest under Section 18 of the RERA, 2016. Through its order dated December 11, 2018, the authority directed the builder to pay interest …

Compensation Interest Authority Homebuyer Delay Possession

2 weeks ago

Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation

Live Law

The legislative efforts to combat money laundering activities in the country and the legislative measures to deal with the recovery of nonperforming assets in the Banking sector without the intervention of courts of law coincided in the same year with the passage of two special Acts in the year 2002. An Act to regulate securitisation and reconstruction of financial assets …

Properties Recovery Money Laundering Money Enforcement Financial Institutions Bank

2 weeks, 2 days ago

Approval Of Resolution Plan By CoC Cannot Be Interfered With Unless Section 30(2) Of Code Is Breached: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that approval of Resolution Plan by the Committee Of Creditors cannot be interfered with unless it is violative of section 30 of the Code. It further argued that SRA has not implemented the Resolution Plan and matter is pending consideration before the Adjudicating Authority therefore this …

Corporate Resolution Resolution Plan Tribunal Plan Code Authority

2 weeks, 5 days ago

Resolution Professional Cannot Be Faulted To Revise Plans Multiple Times As Per Instructions Of CoC: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that adverse remarks cannot be passed by the Adjudicating Authority against the RP for performing his duties in accordance with the commercial wisdom of the CoC. Thus, when there is no mandatory requirement to use the evaluation matrix to identify the best resolution plan and the …

Resolution Wisdom Tribunal Plan Plans Authority Coc

Delhi HC Allows Invocation Of Arbitration Clause After 10 Yrs, Says That Scope Of S.11(6) Plea Is Limited To Ascertaining Existence Of Agreement

Live Law

The Delhi High Court Bench of Justice Sachin Datta has held that the scope of the present proceedings is confined to ascertaining the existence of the arbitration agreement. Observation of the court: The court held that the scope of the present proceedings is confined to ascertaining the existence of the arbitration agreement. Then, the court held that since the existence …

Arbitration Court Parties Agreement Respondent

3 weeks, 2 days ago

MSEFC Must Decide Question On Limitation Before Adjudicating Dispute On Merits: Telangana High Court

Live Law

The Telangana High Court bench of Justice P. Sam. Koshy, while hearing a petition filed under Article 227, has held that the issues of maintainability, particularly the question of limitation, are to be decided by the Micro and Small Enterprises Facilitation Council before proceeding to adjudicate the dispute on merits. Submissions: The counsel for the petitioner made the following submissions: …

Dispute Merits Petitioner Msefc Council Rule Limitation Issue Adjudicate

3 weeks, 3 days ago

ED restitutes property worth ₹25.38 crore to claimants

The Hindu

In a significant move to restore the Proceeds of Crime to rightful claimants, the Directorate of Enforcement, Chennai Zonal office has successfully restituted property valued at ₹25.38 Crore to the victim and claimant in an anti-Money Laundering case against Nafisa Overseas and others being investigated by the ED. A press release said ED investigation revealed that the accused availed the …

Chennai Fir

3 weeks, 3 days ago

Maharashtra RERA Holds Spenta Enclave Liable For Delay, Orders Interest To Homebuyers

Live Law

While allowing the complaints of Two homebuyers, Maharashtra Real Estate Regulatory Authority bench comprising of Manoj Saunik directed Spenta Enclave to pay interest to the homebuyers for the delay in handing over possession of the flat. Background Facts Homebuyers purchased their respective flats in the builder's project named Altavista - Phase 1, located at Kurla, Mumbai Sub Urban. Observation and …

Homebuyers Delay Builder Possession Authority Spenta Enclave

3 weeks, 4 days ago

Once Plausibility Of Pre-Existing Dispute Is Established, Application U/S 9 Of IBC Must Be Rejected: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Rakesh Kumar Jain, Barun Mitra and Indevar Pandey has held that IBC bestows only summary jurisdiction upon the Adjudicating Authority. It was further submitted that there is no genuine foundation of pre-existing dispute since all the pump sets were supplied after third party inspection which agency had certified the goods at the time …

Corporate Bihar Dispute Operational Creditor Operational Application Notice

4 weeks ago

NCLT Is Not Right Forum To Decide Whether Closure Of Factory Under Industrial Dispute Act Was As Per Law: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that the Adjudicating Authority is not the right forum to decide whether closure of the factory was in accordance with law. Liquidator vide e-mail dated 25.02.2019 asked the Appellants to submit the proof of employment in the company in the period of two years …

Corporate Dispute Factory Closure Industrial Claims Appellants

1 month ago

Filing Petition U/S 10 Of IBC Subsequent To Action Taken Under SARFAESI Act Cannot Be Termed Malicious Or Fraudulent: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Arun Baroka has held that merely because proceeding under Section 13, sub-section and of the SARFAESI Act has been initiated by the creditor prior to filing of Section 10 application, cannot be a ground to hold that Section 10 application is filed with malicious and fraudulent intent to be rejected …

Corporate Corporate Debtor Application Tribunal Proceedings Filed Filing

1 month ago

Assessee's Medical Condition Not Sufficient To Excuse Four-Year Delay In Filing Appeal: Kerala High Court Declines Condonation Of Delay

Live Law

The Kerala High Court stated that the medical condition cited by the assessee is not sufficient grounds to justify condoning a four-year delay in filing the appeal. Admittedly, the assessee filed appeals against the orders only in the month of February 2024 i.e., four years after the date on which the orders against which the appeal was sought to be …

Court Orders Writ Filed Bench Petition Issued

1 month ago

CoC Has Authority To Modify Resolution Plan To Comply With Directions Of Supreme Court: NCLAT

Live Law

The NCLAT has affirmed that the CoC is empowered to modify the resolution plan in order to comply with the directions issued by the Supreme Court. Hon'ble Supreme Court vide Order dated 22.01.2024 allowed the Civil Appeals filed by the Excise & Taxation Officer, Officer-Cum-Assessing Authority setting aside the Order dated 22.03.2022 passed by the Appellate Tribunal in view of …

Supreme Court Resolution Process Resolution Plan Plan Officer Nclat

1 month ago

Interest On Operational Debt Cannot Be Claimed If There Is No Clause In Agreement For Payment Of Interest: NCLAT

Live Law

The NLCAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra held that no interest on principal amount can be claimed if there is no clause to this effect in the agreement executed between the parties. The RP has also filed reply to the Supplementary Affidavit, which was filed by the Appellant, with regard to interest, it was pleaded …

Corporate Debt Interest Payment Agreement Nclt Filed

1 month, 1 week ago

Lok Adalat Has Power To Pass Compromise Award, Cannot Adjudicate In Absence Of Settlement: Telangana High Court

Live Law

While quashing an order of a Mandal Legal Services Committee after noting that it was not a compromise/settlement award but in the nature of an execution petition pertaining to a property dispute suit, Telangana High Court said that the committee had exceeded its jurisdiction. The Mandal Legal Services Committee or for that matter the Lok Adalats do not have the …

Court Legal Services Lok Adalats Order High Respondent No Respondent

1 month, 1 week ago

Punjab And Haryana Owe An Explanation: Supreme Court Reiterates Concern Over Reluctance To Prosecute Officials For Violating CAQM Orders On Stubble Burning

Live Law

The Supreme Court on Monday reiterated its concern over the reluctance of states of Punjab and Haryana to prosecute officials that have violated CAQM orders regarding stubble burning under Section 14 of the Commission for Air Quality Management Act. Regarding air pollution from stubble burning, the Court examined compliance affidavits submitted by the governments of Punjab and Haryana, which indicated …

Court States Haryana Caqm Stubble Stubble Burning Punjab And Haryana

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Search results for adjudicating

CIRP Withdrawal Cannot Be Allowed Unless Application Is Filed By Applicant Who Initiates Section 7 Application: NCLAT

Jharkhand HC Reduces Interest Rate, Compensation By MACT To Family Of Deceased 50-Year-Old, Cites Excessive Award Under Conventional Head

CIRP Withdrawal Cannot Be Allowed Unless Application Is Filed By Applicant Who Initiates S.7 Application: NCLAT

Non Impleadment Of Owner As Party By Liquidator In Application U/S 19 Of IBC Not Malafide If Ownership Was Uncertain: NCLAT

Non-Admission Of Claim By Resolution Professional Cannot Be Challenged First Time In Appeal Before Appellate Tribunal: NCLAT

NCLT Can Allow Date Of Default To Be Amended In CIRP Proceedings: NCLAT

Authority Processing Duty Credit Scrip Applications Is 'Adjudicating Authority' For Appeal Under Foreign Trade Act: Bombay High Court

[GST] Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court

Haryana RERA - No Additional Compensation To Homebuyer When Interest For Delayed Possession Already Granted

Navigating Intersection Of Anti-Money Laundering And Recovery Laws: The Imperative For Collaboration And Cooperation

Approval Of Resolution Plan By CoC Cannot Be Interfered With Unless Section 30(2) Of Code Is Breached: NCLAT

Resolution Professional Cannot Be Faulted To Revise Plans Multiple Times As Per Instructions Of CoC: NCLAT

Delhi HC Allows Invocation Of Arbitration Clause After 10 Yrs, Says That Scope Of S.11(6) Plea Is Limited To Ascertaining Existence Of Agreement

MSEFC Must Decide Question On Limitation Before Adjudicating Dispute On Merits: Telangana High Court

ED restitutes property worth ₹25.38 crore to claimants

Maharashtra RERA Holds Spenta Enclave Liable For Delay, Orders Interest To Homebuyers

Once Plausibility Of Pre-Existing Dispute Is Established, Application U/S 9 Of IBC Must Be Rejected: NCLAT

NCLT Is Not Right Forum To Decide Whether Closure Of Factory Under Industrial Dispute Act Was As Per Law: NCLAT

Filing Petition U/S 10 Of IBC Subsequent To Action Taken Under SARFAESI Act Cannot Be Termed Malicious Or Fraudulent: NCLAT

Assessee's Medical Condition Not Sufficient To Excuse Four-Year Delay In Filing Appeal: Kerala High Court Declines Condonation Of Delay

CoC Has Authority To Modify Resolution Plan To Comply With Directions Of Supreme Court: NCLAT

Interest On Operational Debt Cannot Be Claimed If There Is No Clause In Agreement For Payment Of Interest: NCLAT

Lok Adalat Has Power To Pass Compromise Award, Cannot Adjudicate In Absence Of Settlement: Telangana High Court

Punjab And Haryana Owe An Explanation: Supreme Court Reiterates Concern Over Reluctance To Prosecute Officials For Violating CAQM Orders On Stubble Burning