News Muncher - searching for liquidator

2 days, 18 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

1 week ago

IBC Weekly Round-Up [9th December To 15th December 2024]

Live Law

NOMINAL INDEX Indian Renewable Energy Development Agency Limited Versus Waaree Energies Limited and Anr., Company Appeal No.1380 of 2024 Suraksha Asset Reconstruction Ltd. 139 of 2024 NCLAT Raising Money Through Optional Convertible Debentures Can Be Considered As Financial Debt U/S 5: NCLAT Case Title: Indian Renewable Energy Development Agency Limited Versus Waaree Energies Limited and Anr. Case Number: Company Appeal …

Appeal Insolvency Technical Company 2024 New Delhi Held

1 week, 4 days ago

Secured Creditor Is Liable To Pay Liquidator's Fees Under Rule 21A Of Liquidation Regulations If Option U/S 52 Of IBC Is Exercised: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that the fee of the liquidator has to be paid within 90 days from the liquidation commencement date as provided under Regulation 21A of the Liquidation Regulations if the secured creditor opts to realise its security interest under section 52 of the code. Observations: …

Regulation Regulations Pay Case Respondent Fee Asset

1 week, 5 days ago

[IBC] Telangana HC Quashes Proceedings Against Ex-Director Of Company, Says IRP Had Already Taken Charge When Complaint Was Filed

Live Law

The High Court of Telangana has delivered an important decision on the issue regarding criminal liability of Directors and corporate governance. Gena Pharmaceuticals Limited of manufacturing and marketing drugs with objectionable Counsel for the petitioner, Advocate Zubin JF Poovathinkal, contended that the petitioner had stepped down from the position of Director in 2019, and the company's complete control was transferred …

Court Director Criminal Company Liability State Held

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

India Today

The Enforcement Directorate, Mumbai, has successfully handed over properties worth more than Rs 125 crore to the liquidator of Gitanjali Gems Ltd. Following an application supported by the ED, the Special PMLA Court in Mumbai approved the monetisation of properties worth Rs 2,565.90 crore linked to Mehul Choksi. PROPERTIES HANDED OVER As per the court’s order, ED initiated the transfer …

Mumbai Properties Crore Worth Rs Rs 125 Crore Mehul Choksi Pnb Scam

3 weeks ago

IBC Weekly Round-Up [25th November To 1st December, 2024]

Live Law

Nominal Index: Mr. Bhagawant Narayan Naik, Versus Ritesh R. Mahajan and Ors., Company Appeal No. Case Title: Mapletree Leather Goods Private Limited v. Savan Godiawala, C/o Deloitte Touche Tohmatsu India LLP Case Number: Company Appeal No.314/2020 The National Company Law Appellate Chennai comprising of Justice Sharad Kumar Sharma, and Jatindranath Swain dismissed two appeals filed by the Corporate Debtor seeking …

Appeal Insolvency Title Companies Act Technical Company Judicial

3 weeks ago

Insolvency & Bankruptcy Code Does Not Override Public Body's Statutory Authority To Regulate Its Properties: NCLAT

Live Law

The National Company Law Appellate Tribunal, New Delhi bench of Justice Rakesh Kumar Jain, Naresh Salecha and Mr Indevar Pandey held a liquidator cannot not create sub-leases over public land without adhering to the statutory requirements. Brief Facts: The Corporate Insolvency Resolution Process was commenced against Narmada Cereal Private Ltd.. After the CIRP's failure, the National Company Law Tribunal, New …

Legal Proceedings Land Lease New Delhi Held Nclt Nclat

3 weeks, 2 days ago

Liquidator Can Recover Amount Which Belongs To Corporate Debtor By Filing Application U/S 60(5)(c) Of IBC: NCLAT

Live Law

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that liquidator can recover the amount of the corporate debtor by filing an application under section 60 of the code before the NCLT as it is a matter which arises solely from or which relates to the insolvency of the Corporate …

Corporate Court Corporate Debtor Bank Application Nclt Crores

3 weeks, 4 days ago

CoC recommends EY honcho as new liquidator in Go First case

Live Mint

New Delhi: The Committee of Creditors of the bankrupt airline Go First has voted to appoint Dinkar Venkatasubramanian as the liquidator for the airline’s liquidation proceedings. Third-party foreign funding In the case, the resolution professional had also requested the NCLT’s approval for third-party funding from a US-based entity to support Go First’s arbitration case against engine maker Pratt & Whitney …

India Arbitration Insolvency Funding Nclt Coc Liquidation

3 weeks, 6 days ago

Sale Certificate Issued In Favor Of Successful Bidder Can Be Cancelled If Bid Amount Is Not Paid Within 90 Days: NCLAT

Live Law

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that as per Liquidation Regulations, the bid amount has to be paid within 90 days. If the amount is not paid, sale certificate issued in favor of the Successful Bidder can be cancelled and the security amount be forfeited. The Liquidator …

Sale Order Payment Paid Liquidator Appellant 90 Days

1 month ago

Official Liquidator Cannot Institute S. 61 Proceedings To Challenge Directions Issued To IBBI: NCLAT Chennai

Live Law

The National Company Law Appellate Chennai comprising of Justice Sharad Kumar Sharma and Jatindranath Swain dismissed an appeal filed by the Liquidator of the Corporate Debtor M/s RLS Alloys Pvt. Facts of the Case The appellant who is the official liquidator of the Corporate Debtor M/s RLS Alloys Pvt. Judgement of the Court The NCLAT stated that the Liquidator cannot …

Appeal Order Process Tribunal Nclt Nclat Liquidator

1 month, 1 week ago

Sale Of Corporate Debtor As Going Concern Under Liquidation Regulations Takes Precedence Over Scheme Of Compromise U/S 230: NCLAT

Live Law

The NCLAT Chennai bench of Justice Sharad Kumar Sharma and Jatindranath Swain affirmed that the sale of the Corporate Debtor as a going concern under Regulations 32 & 32A of the Liquidation Regulations is more transparent and effective; therefore, the sale of the Corporate Debtor as a going concern will have precedence, rather than resorting to the Scheme of Compromise …

Corporate Regulations Sale Corporate Debtor Process Tribunal Nclt

1 month, 1 week ago

Recovery Action Against Company Directors Cannot Be Initiated If Status Of Assessee Is Non-Existent: Madras High Court

Live Law

The Madras High Court ruled that recovery actions against the directors of a company cannot be initiated if the status of the assessee is non-existent. However, in the case of dissolution, the entity wholly ceases to exist.” In this case, the assessee company was ordered to be wound up, and an Official Liquidator was appointed to manage the company's liquidation. …

Case Company Act Recovery Action

1 month, 1 week ago

IBC Weekly Digest: 4th November To 10th November 2024

Live Law

NOMINAL INDEX Noida Special Economic Zone Authority Vs. Manish Agarwal & Ors., CIVIL APPEAL NOS. NCLAT Settlement Plan U/S 12A Of IBC Cannot Be Considered By CoC After Approval Of Resolution Plan: NCLAT Case Title: Pratham Expofab Private Limited v. Mr. Anil Matta, Resolution Professional and Ors. Case Reference: Company Appeal No.355 of 2024 The NCLAT New Delhi Bench of …

Supreme Court Appeal Court Insolvency Resolution Technical Resolution Professional

1 month, 2 weeks ago

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues

The Hindu

A three-judge Bench headed by Chief Justice of India D.Y. Justice J.B. Pardiwala, who authored the judgment, ordered the amount of ₹200 crore paid by Jalan Kalrock Consortium towards the initial tranche payment of ₹350 crore to the creditors to be forfeited. The court set aside the NCLAT direction to the lenders of Jet Airways to adjust the ₹150 crore …

Supreme Court Court Crore Nclat Jkc Liquidation Jet Airways

1 month, 2 weeks ago

Jet Airways grounded for good as Supreme Court orders liquidation

India Today

The Supreme Court's ruling on November 7 to liquidate Jet Airways effectively closed the chapter on attempts to revive the once-prominent Indian airline. With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court also set aside the National Company Law Appellate Tribunal order, which allowed …

India Supreme Court Court Supreme Nclat Airways Jet

3 months ago

Gujarat government files appeal in Madras High Court, gets single judge’s order stayed

The Hindu

A Division Bench of the Madras High Court has stayed the operation of an order passed by a single judge, who had directed the Government of Gujarat to pay ₹1.96 crore to the liquidator of Everonn Education Limited with 9 percent interest for the default period beginning from February 2017. The Division Bench of Justices M. Sundar and R. Sakthivel …

Court Gujarat Order Project High Single Eel

3 months, 2 weeks ago

City Winery Brisbane Pty Ltd closes six venues in Queensland

Daily Mail

A major restaurant group has immediately shut down six venues after becoming the latest hospitality operator to collapse. City Winery Brisbane Pty Ltd, based in Queensland's capital made the difficult decision to enter voluntary liquidation on Wednesday- just five years after its first venue opened. City Winery Brisbane Pty Ltd entered voluntary liquidation on Wednesday. Pictured is one of its …

Wine City Cush Brisbane City Winery Winery City Winery Brisbane Pty Ltd

3 months, 2 weeks ago

Jeremy Clarkson: Grand Tour star reveals why he’s ended TV partnership with Richard Hammond and James May

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Jeremy Clarkson has explained why …

Prime Video James Tour Grand Clarkson Jeremy Clarkson Richard

3 months, 2 weeks ago

Richard Hammond reveals lasting health effects of horrific Top Gear crash

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Richard Hammond has opened up …

Car Crash Free Clarkson Gear Top Gear Hammond

4 months, 1 week ago

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order

Live Law

The Patna High Court has quashed the order as the liquidator was not informed of the reassessment proceedings.The bench of Chief Justice K. Vinod Chandran and Justice Partha Sarthy has observed that the liquidator should be noticed and participate in the reassessment proceedings. The Patna High Court has quashed the order as the liquidator was not informed of the reassessment …

Reassessment Order Proceedings Liquidator Court Quashes Assessee Reassessment Proceedings

5 months, 1 week ago

Half Yearly Digest Of IBC Cases : January To June,2024

Live Law

Supreme Court IBC | Moratorium Under S 14 No Bar To Execute Decree Against Directors/Officers Of Corporate Debtor: Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association vs. M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be …

India Real Estate Justice Delhi Mumbai Supreme Court High Court

5 months, 1 week ago

Corporate Guarantor Can't Be Absolved From Its Liability Only Due To Non-Invocation Of Guarantee: NCLAT Delhi

Live Law

The National Company Law Appellate Tribunal Delhi bench, comprising Mr. Justice Ashok Bhushan and Mr. Barun Mitra held that a Corporate Guarantor cannot be absolved from its liability only due to non-invocation of guarantee. Central Bank of India filed an objection providing details of the working capital term loan secured by the Corporate Guarantor. The Corporate Guarantor filed the appeal …

Delhi Corporate Central Bank Bank Company Liability Nclt

6 months, 1 week ago

CoC Is Empowered To Liquidate Corporate Debtor Any Time After It's Constitution Or Before Resolution Plan Is Confirmed: NCLT Delhi

Live Law

The National Company Law Tribunal Court V, New Delhi bench of Mahendra Khandelwal and Dr Sanjeev Ranjan has held that CoC in the legislative scheme of the Insolvency and Bankruptcy Code, 2016 is empowered to take the decision to liquidate the Corporate Debtor, any time after its constitution and before confirmation of the resolution plan. Radhey Shyam Yadav approached the …

Corporate Resolution Corporate Debtor Nclt Liquidator Coc Liquidation

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Search results for liquidator

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

IBC Weekly Round-Up [9th December To 15th December 2024]

Secured Creditor Is Liable To Pay Liquidator's Fees Under Rule 21A Of Liquidation Regulations If Option U/S 52 Of IBC Is Exercised: NCLAT

[IBC] Telangana HC Quashes Proceedings Against Ex-Director Of Company, Says IRP Had Already Taken Charge When Complaint Was Filed

Exclusive: Rs 125 crore in assets returned to victims in Mehul Choksi-PNB scam case

IBC Weekly Round-Up [25th November To 1st December, 2024]

Insolvency & Bankruptcy Code Does Not Override Public Body's Statutory Authority To Regulate Its Properties: NCLAT

Liquidator Can Recover Amount Which Belongs To Corporate Debtor By Filing Application U/S 60(5)(c) Of IBC: NCLAT

CoC recommends EY honcho as new liquidator in Go First case

Sale Certificate Issued In Favor Of Successful Bidder Can Be Cancelled If Bid Amount Is Not Paid Within 90 Days: NCLAT

Official Liquidator Cannot Institute S. 61 Proceedings To Challenge Directions Issued To IBBI: NCLAT Chennai

Sale Of Corporate Debtor As Going Concern Under Liquidation Regulations Takes Precedence Over Scheme Of Compromise U/S 230: NCLAT

Recovery Action Against Company Directors Cannot Be Initiated If Status Of Assessee Is Non-Existent: Madras High Court

IBC Weekly Digest: 4th November To 10th November 2024

Jet Airways liquidation ordered by Supreme Court amid unresolved financial issues

Jet Airways grounded for good as Supreme Court orders liquidation

Gujarat government files appeal in Madras High Court, gets single judge’s order stayed

City Winery Brisbane Pty Ltd closes six venues in Queensland

Jeremy Clarkson: Grand Tour star reveals why he’s ended TV partnership with Richard Hammond and James May

Richard Hammond reveals lasting health effects of horrific Top Gear crash

Liquidator Never Informed Of Reassessment Proceedings, Patna High Court Quashes Order

Half Yearly Digest Of IBC Cases : January To June,2024

Corporate Guarantor Can't Be Absolved From Its Liability Only Due To Non-Invocation Of Guarantee: NCLAT Delhi

CoC Is Empowered To Liquidate Corporate Debtor Any Time After It's Constitution Or Before Resolution Plan Is Confirmed: NCLT Delhi