IBC Monthly Digest: November 2024
1 month, 1 week ago

IBC Monthly Digest: November 2024

Live Law  

NOMINAL INDEX Noida Special Economic Zone Authority Vs. Manish Agarwal & Ors., CIVIL APPEAL NOS. Case Reference: Company Appeal No.355 of 2024 The NCLAT New Delhi Bench of Justices Ashok Bhushan, Barun Mitra and Arun Baroka held that the IBC being a special statute and having a non-obstante clause under section 238 of the IBC shall prevail over the TRAI Act therefore any penalty imposed by the TRAI on the corporate debtor would be recovered as per the scheme of the IBC. 1974 of 2024 The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that Information Memorandum prepared by the Resolution Professional based on which the Resolution Plan was submitted and later approved by the CoC, cannot be modified.In this case, the allotment units to homebuyers were cancelled by the erstwhile management of the Corporate Debtor and this information was also included in the Information Memorandum based on which the plan was submitted and approved. Versus Shri Sutanu Sinha Case Reference: Company Appeal No.1927 of 2024 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. Case Reference: Company Appeal No.1953 of 2024 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 under section 65 of the IBC.

Mumbai Appeal Court Chennai Insolvency Corporate Debtor Title Companies Act Technical Resolution Professional Company Judicial Resolution Plan 2024 Tribunal New Delhi Nclt Sec Ors Limited Bench Pvt Msme Chairperson Nclat Code This Case Member Versus Ltd Liquidator Nse Sra Section 10 Coc Ibc Jalan Case Title Jet Airways Section 9 Section 4 Section 7 Cirp Financial Creditors State Bank Technical Member Justice Ashok Bhushan Company Appeal Barun Mitra Ibbi Insolvency Professionals Case Number Judicial Member Chennai Bench Indevar Pandey Kumar Jain Justice Yogesh Khanna Insolvency Process Financial Debt Sharad Kumar Sharma Bankruptcy Code Jatindranath Swain Naresh Salecha Suspended Director Personal Guarantor Section 95 Operational Debt Section 7 Of The Nclt Mumbai Mumbai Bench Nsez Florian Fritsch Case Reference Justices Ashok Bhushan Murari Lal Jalan Technology Development Board Section 61 Section 7 Of The Ibc Rls Alloys Pvt Sujyot Infrastructure Pvt Ia Nos Member Technical Section 9 Proceeding Central Bank Of Member Judicial Versus Shri Yogesh Khanna  monthly  technical  bench  mr  appeal  insolvency  2024  pvt  ibc  title  digest  member  company

History of this topic

IBC Monthly Digest: December 2024
1 week, 2 days ago

IBC Monthly Digest: December 2024

Live Law  

SUPREME COURT Case Title : China Development Bank vs Doha Bank OPSC and others Citation : 2024 LiveLaw 1029 The Supreme Court has observed a default is not necessary for a debt to become a financial debt under the Insolvency and Bankruptcy Code, 2016. Case Number: Company Appeal No.1380 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, …

IBC Weekly Round Up [23rd December-29th December 2024]
1 week, 4 days ago

IBC Weekly Round Up [23rd December-29th December 2024]

Live Law  

NOMINAL INDEX China Development Bank vs Doha Bank OPSC and others, 2024 LiveLaw 1029 Ram Kishor Arora, Suspended Director of Supertech Ltd. vs. Union Bank of India & Anr., Company Appeal No. 748 of 2023 Vidyadhar Sarfare & Anr Versus CS Anagha Anasingharaju & Ors., Company Appeal No.1733 of 2024 M/S ALLIED HI-TECH INDUSTRIES PRIVATE LIMITED VS. KARVY DATA MANAGEMENT …

IBC Weekly Round-Up: 16th December -20th December 2024
2 weeks, 3 days ago

IBC Weekly Round-Up: 16th December -20th December 2024

Live Law  

NCLAT The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that Non Fund Based facilities cannot be refused to be disbursed when the approved Resolution Plan contains a clause for their disbursement. 7303, 7304 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has …

IBC Weekly Round-Up [9th December To 15th December 2024]
3 weeks, 4 days 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 …

IBC Weekly Round Up [2nd December To 8th December, 2024]
1 month ago

IBC Weekly Round Up [2nd December To 8th December, 2024]

Live Law  

Nominal Index: Harsh Mehta Versus Securities and Exchange Board of India and Ors., WRIT PETITION NO. 737, 783 of 2024 Mr. Gajjala Yoganand versus Mr. Birendra Kumar Agarwal and Ors., IA No.373 of 2024 in CP No.296/7/HDB/2022 M/s Avani Towers Private Limited vs. M/s Energy Properties Private Limited, IA No. Related Party Can't Be Allowed Backdoor Entry Into CoC On …

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

IBC Weekly Digest: 11th November To 17th November 2024
1 month, 3 weeks ago

IBC Weekly Digest: 11th November To 17th November 2024

Live Law  

Central Bank of India Versus Deepen Arun Parekh, Company Appeal No. Case Reference: Company Appeal No.305/2024 and 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 …

NCLAT Orders Refund Of Pre-CIRP Electricity Dues Paid By SRA Under Protest For Restoration Of Electricity Connection
1 month, 3 weeks ago

NCLAT Orders Refund Of Pre-CIRP Electricity Dues Paid By SRA Under Protest For Restoration Of Electricity Connection

Live Law  

The NCLAT bench comprising Justice Yogesh Khanna and Mr. Ajai Das Mehrotra has allowed the refund of pre-Corporate Insolvency Resolution Process electricity dues paid by the Successful Resolution Applicant. Thus the pre-CIRP dues by the appellant were paid under protest and under protection of the order of NCLT and thus it related to the revival of the Corporate Debtor in …

IBC Weekly Digest: 4th November To 10th November 2024
1 month, 4 weeks 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 …

NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital
4 months, 4 weeks ago

NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital

Live Mint  

The National Company Law Tribunal on Monday instructed the Reserve Bank of India and the Department of Industrial Policy and Promotion to expedite approvals necessary for Hinduja-owned IndusInd International Holdings Ltd to complete its acquisition of the insolvent Reliance Capital. This directive followed a petition by the Hindujas seeking an extension of the timeline set by the tribunal in its …

NCLAT Delhi: Section 95(1) Of IBC Permits Creditors To Initiate Insolvency Proceedings Against Personal Guarantors Via A Resolution Professional
6 months, 3 weeks ago

NCLAT Delhi: Section 95(1) Of IBC Permits Creditors To Initiate Insolvency Proceedings Against Personal Guarantors Via A Resolution Professional

Live Law  

The National Company Law Appellate Tribunal Delhi bench, comprising Mr. Justice Ashok Bhushan and Mr. Arun Baroka held that Section 95 of Insolvency and Bankruptcy, Code, 2016 allows creditors to initiate insolvency process against a Personal Guarantor through a Resolution Professional. Contention of the Appellant: The Appellant argued that since the default occurred on 04.03.2016, the Section 95 application filed …

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024
7 months ago

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024

Live Law  

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No. 105, 106, 990 of 2024 The National Company Law Appellate Tribunal Delhi, comprising Mr. Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey held that …

Monthly Digest Of IBC Cases: May 2024
7 months ago

Monthly Digest Of IBC Cases: May 2024

Live Law  

SUPREME COURT Can Homebuyer's Claim For Apartment Be Rejected For Not Filing Claim During Insolvency Process Against Builder? 1398 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and Mr. Arun Baroka held that documentary evidence including postal receipt mentioning the registered address of the Corporate Debtor confirms the issuance of a Demand …

NCLT initiates insolvency against Jaiprakash Associates, admits ICICI Bank plea
7 months, 1 week ago

NCLT initiates insolvency against Jaiprakash Associates, admits ICICI Bank plea

Hindustan Times  

New Delhi, June 3 The National Company Law Tribunal on June 3 directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the plea filed by private lender ICICI Bank. The National Company Law Tribunal on June 3 directed to initiate insolvency proceedings against debt-ridden Jaiprakash Associates Ltd, admitting the plea filed by private lender ICICI Bank Jaiprakash Associates …

Weekly Digest Of IBC Cases: 13th To 19th May 2024
7 months, 3 weeks ago

Weekly Digest Of IBC Cases: 13th To 19th May 2024

Live Law  

NCLAT NCLAT Delhi Evokes Doctrine Of 'Approbate & Reprobate', Imposes Rs. 124 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey evokes the Doctrine of 'Approbrate and Reprobrate' imposing a cost of Rs. 1589 of 2023 The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan, Mr. …

IBC Weekly Round-Up: 30th December 2024-5th January 2025
8 months ago

IBC Weekly Round-Up: 30th December 2024-5th January 2025

Live Law  

Nominal Index Adroit Pharmaceuticals Pvt. 1826 Employees Provident Fund Organization Regional Office Versus Jaykumar Pesumal Arlani and Anr., Company Appeal No.1062 and 1065 of 2024 Tata Capital Financial Services Limited vs. Arjun Agarwal, I.A. Vs. PTC India Financial Services Limited, WRIT PETITION No.20620 OF 2024 Supreme Court 'IBC A Complete Code' : Supreme Court Disapproves Of High Court Exercising Writ …

Bombay High Court Weekly Round-Up: April 08 To April 14, 2024
8 months, 3 weeks ago

Bombay High Court Weekly Round-Up: April 08 To April 14, 2024

Live Law  

Nominal Index Kalpita Arun Lanjekar v. Income Tax Officer 2024 LiveLaw 188 PCIT v. M/s. 2024 LiveLaw 198 Anand Narayan Sakpal v. State of Maharashtra 2024 LiveLaw 199 Reports/Judgments Case Title: Kalpita Arun Lanjekar v. Income Tax Officer Citation: 2024 LiveLaw 188 The Bombay High Court quashed a reassessment order against a housewife when the alleged investment was made by …

IBC Cases Quarterly Digest : January To March 2024
9 months ago

IBC Cases Quarterly Digest : January To March 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V 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 absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

Weekly Digest Of IBC Cases: 5th To 11th February 2024
10 months, 3 weeks ago

Weekly Digest Of IBC Cases: 5th To 11th February 2024

Live Law  

NCLAT NCLAT Delhi: Adjudicating Authority Should Grant Extension Of Time To Consider Resolution Plan Crucial To Fulfill Object Of IBC Case Title: Nimai Gautam Shah, Resolution Professional of Sintex Plastics Technology Ltd. vs. RBL Bank Ltd. Case No. : Company Appeal No.82 of 2024 The National Company Law Appellate Tribunal New Delhi, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and …

Appeal Under Section 42 Of IBC Would Only Lie Against An 'Adjudicating' Order Of The Liquidator: NCLT Mumbai
11 months ago

Appeal Under Section 42 Of IBC Would Only Lie Against An 'Adjudicating' Order Of The Liquidator: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Smt. The Bench has rejected an appeal filed under Section 42 of IBC, whereby Employees Provident Fund Organization challenged a letter sent by the Liquidator at a time when he stood discharged from his duties due to dissolution of the Corporate Debtor. The Employees Provident Fund Organization passed orders under Section …

Monthly Digest Of IBC Cases: January 2024
11 months, 1 week ago

Monthly Digest Of IBC Cases: January 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V 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 absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

Weekly Digest Of IBC Cases: 22nd To 28th January 2024
11 months, 1 week ago

Weekly Digest Of IBC Cases: 22nd To 28th January 2024

Live Law  

NCLAT Case title: Parikshit Madanmohan Sharma v M.S. 206 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Rakesh Kumar Jain and Shri Naresh Salecha, has held that when the total number of allottees in a real estate project is disputed, then the NCLT should first decide whether the Section 7 petition has been filed …

Weekly Digest Of IBC Cases: 8th To 14th January 2024
11 months, 3 weeks ago

Weekly Digest Of IBC Cases: 8th To 14th January 2024

Live Law  

NCLAT Case title: Partha Sarathy Sarkar v Specified Undertaking of Unit Trust of India Ltd & Ors. 1340 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has held that when the Committee of Creditors passes a resolution to replace the Resolution Professional, then it is not open for …

Monthly Digest Of IBC Cases: November 2023
1 year, 1 month ago

Monthly Digest Of IBC Cases: November 2023

Live Law  

Supreme Court IBC Resolution Plan Can't Ignore Government Dues: Supreme Court Dismisses Review Petitions Against 'Rainbow Papers' Case title: Sanjay Agarwal v. State Tax Officer Citation: 2023 LiveLaw 939 The Supreme Court has dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code, 2016 …

Weekly Digest Of IBC Cases: 30th October To 5th November 2023
1 year, 2 months ago

Weekly Digest Of IBC Cases: 30th October To 5th November 2023

Live Law  

Supreme Court IBC Resolution Plan Can't Ignore Government Dues: Supreme Court Dismisses Review Petitions Against 'Rainbow Papers' Case title: Sanjay Agarwal v. State Tax Officer Citation: 2023 LiveLaw 939 The Supreme Court has dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code, 2016 …

IBC | Tax & Customs Dues To Be Paid As Per Waterfall Mechanism Under Section 53 : Supreme Court
1 year, 2 months ago

IBC | Tax & Customs Dues To Be Paid As Per Waterfall Mechanism Under Section 53 : Supreme Court

Live Law  

The Supreme Court Bench comprising Justice Sanjiv Khanna and Justice S.V.N. The insolvency resolution process costs have to be paid first in priority, followed by dues of Secured Creditors and workmen dues upto 24 months preceding Liquidation Commencement Date. The Bench disposed of the appeal with the clarification that the dues of the Central Board of Indirect Taxes & Customs, …

Monthly Digest Of IBC Cases: October 2023
1 year, 2 months ago

Monthly Digest Of IBC Cases: October 2023

Live Law  

Supreme Court The Supreme Court bench comprising Justices S Ravindra Bhat and Aravind Kumar, has held that homebuyers cannot be treated differently from other "financial creditors" under the Insolvency and Bankruptcy Code 2016 just because they have secured orders from the authority under the Real Estate Act 2016. 799 of 2023 The National Company Law Appellate Tribunal, Principal Bench, New …

NCLAT Chennai: FC And OC Can’t Give Additional Facts Not Provided In Application Under Sections 7, 9 Or 10 Of IBC
1 year, 2 months ago

NCLAT Chennai: FC And OC Can’t Give Additional Facts Not Provided In Application Under Sections 7, 9 Or 10 Of IBC

Live Law  

The National Company Law Appellate Tribunal, Chennai Bench comprising of Justice Rakesh Kumar Jain and Shreesha Merla, dismissed the appeal filed in State Bank of India vs. India Power Corporation Ltd. The Appellate Tribunal held that a Petitioner cannot set up a new case/additional factual altogether that has not been set up in the main application filed either u/s 7, …

Monthly Digest Of IBC Cases: September 2023
1 year, 3 months ago

Monthly Digest Of IBC Cases: September 2023

Live Law  

Supreme Court Case Title: Eva Agro Feeds Private Limited V. Punjab National Bank & Anr., Civil Appeal No. 971, 972 & 973 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has held that IBC provisions do not indicate that all information collected by the Resolution Professional is required …

Weekly Digest Of IBC Cases: 11th To 17th September 2023
1 year, 3 months ago

Weekly Digest Of IBC Cases: 11th To 17th September 2023

Live Law  

Supreme Court Case Title: Tata Power Western Odisha Distribution Limited & Anr. V Jagannath Sponge Private Limited Citation: 2023 LiveLaw 788 The Supreme Court has held that under the Insolvency and Bankruptcy Code, 2016, once the Resolution Plan stands approved by the National Company Law Tribunal, the Electricity Department cannot demand payment of arrears, which were payable by the Corporate …

Weekly Digest Of IBC Cases: 4th To 10th September 2023
1 year, 4 months ago

Weekly Digest Of IBC Cases: 4th To 10th September 2023

Live Law  

Supreme Court Case Title: Eva Agro Feeds Private Limited V. Punjab National Bank & Anr., Civil Appeal No. : IB-525/PB/2022 The National Company Law Tribunal, New Delhi Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, has initiated Corporate Insolvency Resolution Process against Imperia Structures Ltd., which launched a real estate project named “Imperia Byron/Mindspace” in Sector- 62, Gurgaon, …

Weekly Digest Of IBC Cases: 15 To 21 May 2023
1 year, 7 months ago

Weekly Digest Of IBC Cases: 15 To 21 May 2023

Live Law  

Supreme Court Supertech Insolvency: Supreme Court Approves 'Project Wise Resolution' Plan Case Title: Indiabulls Asset Reconstruction Company Limited v Ram Kishore Arora & Ors. 05/MB-IV/2020 The National Company Law Tribunal, Mumbai bench, comprising of Shri Kishore Vemulapalli and Shri Prabhat Kumar, has initiated Corporate Insolvency Resolution Process against M/s Tulip Hotels Private Limited. 827/MB-IV/2022 The National Company Law Tribunal, Mumbai …

All India Annual Digest Of IBC Cases-2022- Supreme Court, High Courts And Tribunals
2 years ago

All India Annual Digest Of IBC Cases-2022- Supreme Court, High Courts And Tribunals

Live Law  

SUPREME COURT Supreme Court Declares Noida As An Operational Creditor Under The Insolvency And Bankruptcy Code, 2016 Case title: New Okhla Industrial Development Authority v Anand Sonbhadra Case No. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Ms. Shreesha Merla and Mr. Naresh Salecha, while adjudicating an appeal has upheld that Corporate Insolvency Resolution Process …

Gujarat High Court Quarterly Digest: July To September 2022 [Citation 253 To 387]
2 years ago

Gujarat High Court Quarterly Digest: July To September 2022 [Citation 253 To 387]

Live Law  

NOMINAL INDEX Narubhai Amarsinh Makwana V/S State Of Gujarat 2022 LiveLaw 253 Chief Officer v/s Decd. Shree Shivam Corporation Through Its Sole Propeirtor Mr. Prahlad Durlabhjibhai Joshi v/s Competition Commission of India 2022 LiveLaw 379 Inner Vision Education And Charitable Trust V/S Union Of India 2022 LiveLaw 380 Sonalben Alias Charmiben Hirenbhai Jivani Versus Naranbhai Chananbhai Babariya 2022 LiveLaw 381 …

Tax Cases Weekly Round-Up: 13 November To 19 November 2022
2 years, 1 month ago

Tax Cases Weekly Round-Up: 13 November To 19 November 2022

Live Law  

Supreme Court Sec.194H Income Tax Act Attracted For 'Supplementary Commission' Earned By Travel Agents ; Airlines Liable To Deduct TDS : Supreme Court Case Title: Singapore Airlines Ltd. vs C.I.T., Delhi Citation: 2022 LiveLaw 959 The Supreme Court held that Section 194H of the Income Tax Act is attracted in the case of Supplementary Commission amounts earned by the travel …

Supreme Court Quarterly Digest on IBC [July - September, 2022]
2 years, 2 months ago

Supreme Court Quarterly Digest on IBC [July - September, 2022]

Live Law  

Insolvency and Bankruptcy Code 2016 - There can be no dispute with the proposition that the period of limitation for making an application under Section 7 or 9 of the IBC is three years from the date of accrual of the right to sue, that is, the date of default. State Tax Officer v. Rainbow Papers Ltd., 2022 LiveLaw 743 …

Non Applicability Of Section 9 Of The A&C Act Can't Be Presumed If Parties Opted For Foreign-Seated Institutional Arbitration: Delhi High Court
2 years, 5 months ago

Non Applicability Of Section 9 Of The A&C Act Can't Be Presumed If Parties Opted For Foreign-Seated Institutional Arbitration: Delhi High Court

Live Law  

The High Court of Delhi has held that merely because the parties have chosen a foreign-seated institutional arbitration under the UNCITRAL Law, they cannot be presumed to have entered into an agreement to exclude the applicability of Section 9 of the A&C Act as provided under the proviso to Section 2 of the A&C Act. Objection regarding the maintainability of …

IBC Cases Weekly Round Up: July 10 To 17 July, 2022
2 years, 5 months ago

IBC Cases Weekly Round Up: July 10 To 17 July, 2022

Live Law  

Supreme Court Case Title: Vidarbha Industries Power Ltd. vs Axis Bank Limited Case No. The National Company Law Tribunal, Mumbai Bench, comprising of Shri H. V. Subba Rao Shri Chandra Bhan Singh, has directed the Resolution Professional to file a fresh a report under Section 99 of the Insolvency and Bankruptcy Code, 2016 for recommending approval or rejection of insolvency …

NCLT Hyderabad Initiates Insolvency Process Against The Personal Gauartor Of Deccan Chronicle Holdings
2 years, 6 months ago

NCLT Hyderabad Initiates Insolvency Process Against The Personal Gauartor Of Deccan Chronicle Holdings

Live Law  

The National Company Law Tribunal, Hyderabad Bench, comprising of Dr. N. Venkata Ramakrishna Badarinath Shri Veera Brahma Rao Arekapudi, while adjudicating a petition filed in L&T Finance Limited v Tikkavarapu Venkaram Reddy, has initiated insolvency resolution process against Mr. Tikkavarapu Venkatarami Reddy, who is the Personal Guarantor of M/s Deccan Chronicle Holdings Ltd. in respect of the credit facilities availed …

Weekly Digest Of IBC Cases: 23rd May To 29th May, 2022
2 years, 7 months ago

Weekly Digest Of IBC Cases: 23rd May To 29th May, 2022

Live Law  

NCLAT Urges Central Government And IBBI To Consider Legislative Change For Payment To Operational Creditor Under Resolution Plan Case Title: Damodar Valley Corporation v Dimension Steel and Alloys Case No. 62 of 2022 The National Company law Appellate Tribunal bench comprising of Justice Ashok Bhushan and Ms. Shreesha Merla has urged the Central Government and the Insolvency and Bankruptcy Board …

NCLAT Sets Aside The Liquidation Order Of Ballarpur Industries Limited
2 years, 8 months ago

NCLAT Sets Aside The Liquidation Order Of Ballarpur Industries Limited

Live Law  

The National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, while adjudicating an appeal filed in Finquest Financial Solutions Pvt. Ltd. v Anuj Jain & Ors., has set aside the order dated 25.01.2022 passed by NCLT Mumbai Bench whereby Ballarpur Industries Ltd. was sent to liquidation. Now the NCLAT Bench has extended the …

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022
2 years, 8 months ago

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022

Live Law  

Insolvency and Bankruptcy Code Is Not For Money Recovery Proceedings: Supreme Court Reiterates Case Title: Invest Asset Securitisation and Reconstruction Pvt. 583/2021 National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Ms. Shreesha Merla, has held that the look back period prescribed under Section 46 of Insolvency & Bankruptcy Code, 2016 does not …

Delhi High Court Weekly Roundup: March 28 To April 3, 2022
2 years, 9 months ago

Delhi High Court Weekly Roundup: March 28 To April 3, 2022

Live Law  

CITATIONS 2022 LiveLaw 242 TO 2022 LiveLaw 265 NOMINAL INDEX MOHD ARIF & ORS. Citation: 2022 LiveLaw 249 The Delhi High Court has granted permanent injunction against 'ANINEWSINDIA' in a trademark infringement suit filed by news agency 'ANI'. Delhi High Court Refuses Interim Injunction In Trademark Infringement Suit By Mankind Pharma Against RTPCR Testing Kit 'OMISURE' Case Title: MANKIND PHARMA …

Delhi High Court Weekly Roundup: March 7 To March 13, 2022
2 years, 9 months ago

Delhi High Court Weekly Roundup: March 7 To March 13, 2022

Live Law  

CITATIONS 2022 LiveLaw 172 TO 2022 LiveLaw 201 NOMINAL INDEX Alapan Bandyopadhyay v. Union of India & Anr. "Considering Issue On Administrative Side": Delhi High Court Refuses To Entertain Plea Seeking To Adopt 'Virtual Hearings' As A Norm Case Title: Kurz India Private Limited Versus Principal Commissioner of Income Tax-5, New Delhi Citation: Citation: 2022 LiveLaw 174 The Delhi High …

NCLAT Sets Aside NCLT Order Dismissing Initiation Of CIRP Against Mittal Corp
4 years, 3 months ago

NCLAT Sets Aside NCLT Order Dismissing Initiation Of CIRP Against Mittal Corp

Live Law  

The National Company Law Appellate Tribunal has set aside an order passed by the National Company Law Tribunal, Mumbai bench which had dismissed an application for the initiation of corporate insolvency resolution process against Mittal Corp Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. Member, Ms. Shreesha Merla Member directed the NCLT to reconsider the application and …

Home Buyers Cannot Invoke Insolvency Proceedings For Recovery Of RERA Award: NCLAT [Read Order]
4 years, 4 months ago

Home Buyers Cannot Invoke Insolvency Proceedings For Recovery Of RERA Award: NCLAT [Read Order]

Live Law  

The National Company Law Appellate Tribunal allowed an appeal filed by Sushil Ansal, former Director and shareholder of Ansal Properties and Infrastructure Limited setting aside the National Company Law Tribunal, Delhi bench March 17 order for the initiation of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016. Stressed Assets Stabilisation Fund and Ors.- MANU/NL/0092/2020 observed that …

NCLAT Directs NBCC To Implement Resolution Plan Pending Appeal in Jaypeee Infratech matter
4 years, 8 months ago

NCLAT Directs NBCC To Implement Resolution Plan Pending Appeal in Jaypeee Infratech matter

Live Law  

While hearing an urgent petition during the extended lockdown period moved by the NBCC, the National Company Law Appellate Tribunal declined to stay the implementation of the modified resolution plan and directed the state - run NBCC to acquire the debt ridden Jaypee Infratech and complete over 20,000 pending flats, but said the direction was subject to its final order.Justice. …

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today
5 years, 1 month ago

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today

Firstpost  

In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal admitted an application by an IDBI Bank-led consortium. New Delhi: State-owned NBCC Ltd on Sunday sweetened its bid to acquire bankruptcy-bound Jaypee Infratech, by offering lenders 1,426-acre land instead of 950 acres earlier and also providing half of 3,000 benami flats to them, sources said. NBCC …

Insolvency & Bankruptcy Code - 2018 Annual Round Up
6 years ago

Insolvency & Bankruptcy Code - 2018 Annual Round Up

Live Law  

The year 2018 also witnessed major changes in the field of Insolvency and Bankruptcy Code.While the year 2017 witnessed SC explaining the basic concepts of the nascent legislation, the year 2018 saw SC addressing more complex issues in relation to it.The significant decisions of 2017 were Innoventive Industries v ICICI Ltd and Mobilox Innovations Pvt Ltd v Kirusa Software. The …

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