SC Directs Centre To Set Up Circuit Benches Of NCLAT Within 6 Months
6 years, 1 month ago

SC Directs Centre To Set Up Circuit Benches Of NCLAT Within 6 Months

Live Law  

In the judgment upholding the validity of Insolvency and Bankruptcy Code delivered today, the Supreme Court directed the Central Government to set up circuit benches of National Company Law Appellate Tribunal within 6 months from today.The bench of Justices R F Nariman and Navin Sinha issued the direction on the basis of undertaking made by Attorney General K K Venugopal It was held by the SC in Madras Bar Association case, that a tribunal should be having permanent benches at the seat of all jurisdictional High Courts.If that was not possible, at least a Circuit Bench required to be established at every place where an aggrieved party could avail of his remedy, the SC had held. When the petitioners' counsel Mukul Rohatgi, Senior Advocate, pointed out these directions before the bench, the AG undertook to establish circuit benches for NCLAT as soon as it is practicable. Recording this undertaking, the SC bench issued the direction to set up circuit benches within 6 months. This is also as per the dictum in Madras Bar Association Case, which held that the administrative support for all Tribunals should be from the Ministry of Law and Justice.

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History of this topic

Supreme Court Wonders Why NCLAT Wrote Long Order On Delay Condonation Application Despite High Pendency
2 weeks, 2 days ago

Supreme Court Wonders Why NCLAT Wrote Long Order On Delay Condonation Application Despite High Pendency

Live Law  

The Supreme Court recently expressed surprise that the National Company Law Appellate Tribunal, despite having a high pendency of cases, devoted extensive time and effort to writing a 17-page order on a delay condonation application. “We wonder why the NCLAT which has a high pendency should devote so much of time and energy in writing an order running into 17 …

'No Political Appointments' : Supreme Court Decries Poor Functioning Of NCLTs/NCLAT, Says Members Often Lack Domain Knowledge
4 months, 1 week ago

'No Political Appointments' : Supreme Court Decries Poor Functioning Of NCLTs/NCLAT, Says Members Often Lack Domain Knowledge

Live Law  

In the judgment ordering the liquidation of Jet Airways, the Supreme Court made several critical remarks against the abysmal functioning of the National Company Law Tribunals and the National Company Law Appellate Tribunal benches.Slamming the "growing tendency" of the NCLT and NCLAT members to ignore the orders of the Supreme Court, the Court stated that only persons of impeccable. In …

No political appointments in NCLT, NCLAT: SC
4 months, 2 weeks ago

No political appointments in NCLT, NCLAT: SC

Hindustan Times  

The Supreme Court on Thursday emphasised that appointments to the National Company Law Tribunal and the National Company Law Appellate Tribunal must not be “political”, even as it voiced serious concerns over delays and inefficiencies affecting India’s insolvency process. In its judgment that ordered the liquidation of debt-ridden Jet Airways, the top court addressed a raft of issues regarding the …

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's
5 months, 3 weeks ago

SC reserves verdict on plea against NCLAT order stopping insolvency proceedings against Byju's

New Indian Express  

NEW DELHI: The Supreme Court on Thursday reserved its verdict on a plea of a US firm against the NCLAT order stopping insolvency proceedings against ed-tech firm Byju's. While hearing the matter on Wednesday, the top court had questioned the verdict of insolvency appellate tribunal NCLAT, setting aside the insolvency proceedings against Byju's and approving its Rs 158.9 crore dues …

Monthly Digest Of IBC Cases: May 2024
9 months, 2 weeks 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 …

NCLAT Delhi: Adjudicating Authority Can Extend Payment Timelines Under Resolution Plan Without Express Concurrence Of CoC
10 months ago

NCLAT Delhi: Adjudicating Authority Can Extend Payment Timelines Under Resolution Plan Without Express Concurrence Of CoC

Live Law  

The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan and Mr. Arun Baroka held that the Adjudicating Authority can extend payment timelines under the Resolution Plan without the express concurrence of the Committee of Creditors. NCLAT Verdict: The NCLAT New Delhi allowed the appeal and held that the Adjudicating Authority can extend payment timelines under the Resolution Plan …

Special Bench At NCLT Kolkata From 15th to 19th April 2024
11 months, 1 week ago

Special Bench At NCLT Kolkata From 15th to 19th April 2024

Live Law  

The National Company Law Tribunal has issued a circular dated 10.04.2024, intimating the constitution of Special Bench in NCLT Kolkata for the period of 15.04.2024 to 19.04.2024, since Shri Balraj Joshi is on leave in that duration. The Special Bench shall attend to the matters listed before Shri Rohit Kapoor and Shri Balraj Joshi. The Special Bench shall comprise of: …

NCLAT Vacancy | MCA Invites Application For Post Of Judicial Member, Last Date To Apply Is 19th December 2023
1 year, 3 months ago

NCLAT Vacancy | MCA Invites Application For Post Of Judicial Member, Last Date To Apply Is 19th December 2023

Live Law  

The Ministry of Corporate Affairs, Government of India, has issued a circular dated 16.11.2023, inviting application for the post of Judicial Members in the National Company Law Appellate Tribunal. Qualifications for Judicial Member under Rule 3 of the Tribunal Rules, 2021 A person can be appointed as Judicial Member if he/she: is, or has been, a Judge of a High …

Monthly Digest Of IBC Cases: November 2023
1 year, 3 months 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 …

Special Bench At NCLT Principal Bench On 6th & 7th December 2023, Matters To Be Heard Through VC On 8th December 2023
1 year, 3 months ago

Special Bench At NCLT Principal Bench On 6th & 7th December 2023, Matters To Be Heard Through VC On 8th December 2023

Live Law  

The National Company Law Tribunal has issued a circular dated 04.12.2023, intimating the constitution of Special Bench in NCLT Principal Bench on 06.12.2023 and 07.12.2023, since Justice Ramalingam Sudhakar is on official tour from 05.12.2023 to 09.12.2023. Further, on 08.12.2023, the matters listed before the NCLT Principal Bench shall be heard through video conferencing mode. The Special Bench shall attend …

Weekly Digest Of IBC Cases: 30th October To 5th November 2023
1 year, 4 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 …

Monthly Digest Of IBC Cases: October 2023
1 year, 4 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: Grounds Not Taken On Jurisdiction Before Cannot Be Contested Afresh On Appeal When The Parties Accepted The Jurisdiction In NCLT
1 year, 4 months ago

NCLAT Chennai: Grounds Not Taken On Jurisdiction Before Cannot Be Contested Afresh On Appeal When The Parties Accepted The Jurisdiction In NCLT

Live Law  

The National Company Law Appellate Tribunal, Chennai Bench comprising of Justice M. Venugopal and Shreesha Merla dismissed the appeal filed by Jitendra Virmani against the National Company Law Tribunal Bangalore order dated 27.11.2019. The Appellate Tribunal held that the grounds not taken on jurisdiction before the NCLT, cannot be contested afresh on appeal as the parties have exercised acquiescence and …

NCLAT New Delhi: Disputes Surrounding Claims And Counter-Claims Cannot Be Adjudicated Or Determined By The Adjudicating Authority Given Their Summary Jurisdiction
1 year, 5 months ago

NCLAT New Delhi: Disputes Surrounding Claims And Counter-Claims Cannot Be Adjudicated Or Determined By The Adjudicating Authority Given Their Summary Jurisdiction

Live Law  

The National Company Law Appellate Tribunal, Jaipur Bench comprising of Justice Ashok Bhushan and Barun Mitra, dismissed the appeal filed in Rakesh Kumar vs. The appeal has been preferred by Rakesh Kumar of Suchi Paper Mills Ltd. against the National Company Law Tribunal New Delhi’s order admitting the Corporate Debtor into Corporate Insolvency Resolution Process under Section 9 of the …

Monthly Digest Of IBC Cases: September 2023
1 year, 5 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 …

Special Bench At NCLT Principal Bench From 11th To 15th September 2023
1 year, 6 months ago

Special Bench At NCLT Principal Bench From 11th To 15th September 2023

Live Law  

The National Company Law Tribunal has issued a circular dated 05.09.2023, intimating the constitution of Special Bench for NCLT Principal Bench from 11.09.2023 to 15.09.2023. The Special Bench shall attend to the matters listed before Justice Ramalingam Sudhakar and Shri Avinash Kumar Srivastava. The Special Bench shall comprise of: NCLT Principal Bench Shri Ashok Kumar Bhardwaj Shri Avinash Kumar Srivastava …

Special Bench At NCLT Kolkata From 28th August To 13th September 2023
1 year, 6 months ago

Special Bench At NCLT Kolkata From 28th August To 13th September 2023

Live Law  

The National Company Law Tribunal has issued a circular dated 24.08.2023, intimating the constitution of Special Bench in NCLT Kolkata for the period of 28.08.2023 to 13.09.2023, since Shri Arvind Devanathan is on leave in that duration. The Special Bench shall attend to the matters listed before Ms. Bidisha Banerjee and Shri Arvind Devanathan. The Special Bench shall comprise of: …

Weekly Digest Of IBC Cases: 18 To 23 July 2023
1 year, 7 months ago

Weekly Digest Of IBC Cases: 18 To 23 July 2023

Live Law  

Supreme Court Case Title: Paschimanchal Vidyut Vitran Nigam Ltd vs Raman Ispat Private Limited Citation: 2023 LiveLaw 534 | 2023 INSC 625 The Supreme Court Bench comprising of Justices S. Ravindra Bhat and Dipankar Datta, has observed that Section 238 of the Insolvency and Bankruptcy Code, 2016 overrides the provisions of the Electricity Act, 2003. High Court Jharkhand High Court …

Weekly Digest Of IBC Cases: 29 May To 4 June 2023
1 year, 9 months ago

Weekly Digest Of IBC Cases: 29 May To 4 June 2023

Live Law  

NCLAT NCLAT Reprimands RP For Seeking Police Help For Security Of Assets Of Corporate Debtor Instead Of Private Security Case Title: RP Modern Syntex Ltd. v Supdt. 682 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Naresh Salecha, has held for security of private property of the Corporate Debtor, the …

NCLT Notifies Vacation Benches; Matters To Be Heard Through VC And Registry To Remain Functional
1 year, 9 months ago

NCLT Notifies Vacation Benches; Matters To Be Heard Through VC And Registry To Remain Functional

Live Law  

The National Company Law Tribunal has issued a circular dated 18.05.2023 notifying the Vacation Bench for NCLT benches having vacation in the month of June 2023. Further, only urgent matters would be heard during the vacation period, subject to the availability of the Hon’ble Member and as per the convenience of the concerned Hon’ble Member. Matters are to be heard …

NCLAT upholds NCLT order allowing Go First's voluntary insolvency proceedings
1 year, 9 months ago

NCLAT upholds NCLT order allowing Go First's voluntary insolvency proceedings

Firstpost  

The National Company Law Appellate Tribunal on Monday upheld an NCLT order allowing crisis-hit Go First’s voluntary insolvency resolution proceedings. A two-member NCLAT bench asked several aircraft lessors of Go First opposing insolvency,to approach National Company Law Tribunal for any remedy. The lessors had opposed the decision of Delhi-based principal bench of NCLT, which had earlier this month allowed a …

Weekly Digest Of IBC Cases: 8 May To 14 May 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 8 May To 14 May 2023

Live Law  

Supreme Court Case Title: Sanket Kumar Agarwal & Anr v APG Logistics Private Limited Citation: 2023 LiveLaw 406 The Supreme Court Bench comprising Chief Justice of India Dr. Dhananjaya Y Chandrachud and Justice J B Pardiwala, has held that for the purpose of computing limitation for filing of appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, the …

Weekly Digest Of IBC Cases: 1 May To 7 May 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 1 May To 7 May 2023

Live Law  

Supreme Court IBC| Principle Of Commercial Wisdom Not Validate A Decision Taken By CoC In Contravention Of Law: Supreme Court Case Title: M.K. Rajagopalan v Dr. Periasamy Palani Gounder Citation: 2023 LiveLaw 403 The Supreme Court Bench comprising of Justice Dinesh Maheshwari and Justice Vikram Nath, has held that a resolution applicant cannot be rendered ineligible to submit a resolution …

More than 21,200 cases were pending before NCLT till January-end: Govt.
2 years ago

More than 21,200 cases were pending before NCLT till January-end: Govt.

The Hindu  

As many as 21,205 cases, including 12,963 cases under the insolvency law, were pending before the National Company Law Tribunal at the end of January this year, the government said on March 13. In a written reply to Lok Sabha, Minister of State for Corporate Affairs Rao Inderjit Singh said the benches of NCLT and National Company Law Appellate Tribunal …

Special Bench At NCLT Kochi & Cuttack; Matters To Be Heard Through VC
2 years ago

Special Bench At NCLT Kochi & Cuttack; Matters To Be Heard Through VC

Live Law  

The National Company Law Tribunal has constituted Special Bench for NCLT Cuttack and NCLT Kochi, vide a Circular dated 01.02.2023 issued by NCLT. Therefore, a Special Bench is being constituted to take up the matters listed before Shri P. Mohan Raj and Shri Satya Ranjan Prasad. The Special Bench constituted at NCLT Cuttack and NCLT Kochi Bench shall comprise of: …

Monthly Digest Of IBC Cases: February 2023
2 years ago

Monthly Digest Of IBC Cases: February 2023

Live Law  

NCLAT Case Title: Priyal Kantilal Patel v IREP Credit Capital Pvt. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Zee Entertainment Enterprises Ltd. is an Indian media conglomerate owned by Essel Group, …

Weekly Digest Of IBC Cases: 20 February To 26 February 2023
2 years ago

Weekly Digest Of IBC Cases: 20 February To 26 February 2023

Live Law  

NCLAT Principal Amount Paid In Full, Section 9 Application Not Maintainable For Recovery Of Interest: NCLAT Delhi Case Title: Rohit Motawat v Madhu Sharma Case No. 1152 of 2022 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, has held that an application under Section 9 of IBC being pursued …

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.
2 years ago

NCLAT Delhi Stays Insolvency Proceedings Against Zee Entertainment Enterprises Ltd.

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Punit Goenka v Indusind Bank Ltd. & Anr., has stayed the NCLT order dated 22.02.2023, whereby Corporate Insolvency Resolution Process was initiated against Zee Entertainment Enterprises Ltd. Background Facts Zee Entertainment Enterprises Ltd. is an Indian media …

Monthly Digest Of IBC Cases: December 2022
2 years, 2 months ago

Monthly Digest Of IBC Cases: December 2022

Live Law  

Supreme Court Provisional Attachment Under PMLA Subsequent To Initiation Of CIRP: Supreme Court To Consider The Issue Case Title: Ashok Kumar Sarawagi v Enforcement Directorate & Anr. : Company Appeal No.1375 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Mr. Barun Mitra, has held that the only question to …

Government says 25 judicial, technical member positions vacant at NCLT
2 years, 3 months ago

Government says 25 judicial, technical member positions vacant at NCLT

The Hindu  

As many as 25 posts of judicial and technical members are lying vacant at the National Company Law Tribunal and the process has been initiated to fill the vacancies, the government said on Monday. The average time taken for resolution of these cases was 473 days, the Minister said. As per the data, it took an average of 560 days …

NCLT Delhi Bench Re-Constituted, Matters To Be Heard Through Video Conferencing
2 years, 6 months ago

NCLT Delhi Bench Re-Constituted, Matters To Be Heard Through Video Conferencing

Live Law  

The National Company Law Tribunal, New Delhi Bench, has been re-constituted vide a Circular dated 14.09.2022, issued by NCLT as per Section 419 of the Companies Act, 2013. 3 Shri Bachu Venkat Balaram Das Dr. Binod Kumar Sinha The Circular has been issued in partial modification of Order of even number dated 24.08.2022 and is applicable from 15.09.2022 till further …

NCLAT Delhi Allows Appeal Re-Filed After 197 Days Of Delay, Subject To Cost Of Rs.10,000 Payable To Respondent
2 years, 6 months ago

NCLAT Delhi Allows Appeal Re-Filed After 197 Days Of Delay, Subject To Cost Of Rs.10,000 Payable To Respondent

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Justice M. Satyanarayana Murthy and Mr. Barun Mitra, while adjudicating an appeal filed in Dinesh Mehta v Amit Kumar Mehta & Anr., has allowed an appeal which was re-filed after 197 days of delay by the Appellant, subject to payment of cost of Rs. Background Facts Mr. …

IBC Cases Monthly Round Up: August 2022
2 years, 6 months ago

IBC Cases Monthly Round Up: August 2022

Live Law  

Supreme Court Entries In Book Of Accounts/Balance Sheet Of Corporate Debtor Can Be Treated As Acknowledgment Of Liability Of Debt Payable To Financial Creditor: SupremeCourt Case Title: Asset Reconstruction Company Limited v Tulip Star Hotels Limited Case No. 425 of 2022 The National Company Law Appellate Tribunal bench comprising of Justice Ashok Bhushan, Justice N Satyanarayana Murthy and Mr. Barun …

NCLT Hyderabad Bench Re-Constituted, Matters To Be Heard Through Video Conferencing
2 years, 6 months ago

NCLT Hyderabad Bench Re-Constituted, Matters To Be Heard Through Video Conferencing

Live Law  

NCLT Hyderabad Bench Re-Constituted, Matters To Be Heard Through Video Conferencing The National Company Law Tribunal, Hyderabad Bench, has been re-constituted vide a Circular dated 24.08.2022, issued by NCLT as per Section 419 of the Companies Act, 2013. The new NCLT Hyderabad Bench shall comprise of: NCLT Hyderabad, Court Room No. The Ministry of Corporate Affairs vide a notification dated …

IBC Cases Weekly Round Up : 1 August To 7August, 2022
2 years, 7 months ago

IBC Cases Weekly Round Up : 1 August To 7August, 2022

Live Law  

Supreme Court Case Title: Asset Reconstruction Company Limited v Tulip Star Hotels Limited Case No. 968 of 2020 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Anant Bijay Singh and Ms. Shreesha Merla, has upheld the dismissal of a Section 9 petition on the grounds of the Corporate Debtor being a solvent company, operating as a 'going …

NCLT Principal Bench To Hear Matters Through Video Conferencing From 8th To 18th August 2022
2 years, 7 months ago

NCLT Principal Bench To Hear Matters Through Video Conferencing From 8th To 18th August 2022

Live Law  

The National Company Law Tribunal has issued a Circular dated 05.08.2022, intimating that the matters before the Principal Bench of the NCLT, New Delhi, would be heard through video conferencing from 08.08.2022 to 18.08.2022. The Ministry of Corporate Affairs vide a notification dated 20.09.2019 had appointed 23 NCLT Members for a term of 3 years or till the age of …

IBC Cases Weekly Round Up: July 10 To 17 July, 2022
2 years, 8 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 …

IBC Cases Weekly Round-Up: 27 June To 3 July 2022
2 years, 8 months ago

IBC Cases Weekly Round-Up: 27 June To 3 July 2022

Live Law  

NCLT NCLT Kolkata Initiates Insolvency Process Against The Personal Guarantor Of Gontermann-Pipers Ltd. Case Title: UCO Bank v Vinod Kumar Mittal Case No. : C.P./242021 The National Company Law Tribunal, Kolkata Bench, comprising of Shri Rohit Kapoor and Shri Harish Chander Suri, has initiated Insolvency Resolution Process against Mr. Vinod Kumar Mittal, who is the Personal Guarantor to the loan …

NCLT Kochi Bench Re-Constituted, Matters To Be Heard Through Video Conferencing
2 years, 8 months ago

NCLT Kochi Bench Re-Constituted, Matters To Be Heard Through Video Conferencing

Live Law  

The National Company Law Tribunal, Kochi Bench, has been re-constituted vide a Circular dated 01.07.2022, issued by NCLT as per Section 419 of the Companies Act, 2013. The new Kochi Bench shall comprise of: Dr. Deepti Mukesh Shri Ajai Das Mehrotra The reconstituted Bench shall first take up matters of the NCLT Ahmedabad and then attend the matters of NCLT …

Monthly Digest Of IBC Cases: June 2022
2 years, 8 months ago

Monthly Digest Of IBC Cases: June 2022

Live Law  

NCLAT Case Title: Puneet Kaur v K V Developers Private Limited Case No. 645 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Mr. Naresh Salecha, has stayed the Corporate Insolvency Resolution Process of RHC Holdings Pvt Ltd. initiated by NCLT New Delhi on 13.05.2022. The National Company Law Appellate Tribunal, Principal Bench, …

IBC Cases Weekly Round-Up : June 6 To June 12, 2022
2 years, 9 months ago

IBC Cases Weekly Round-Up : June 6 To June 12, 2022

Live Law  

NCLAT NCLT Has Power To Recall Its Order: NCLAT Case Title: Printland Digital Pvt. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Naresh Salecha, has terminated the Corporate Insolvency Resolution Process of Kanoria Sugar and General Manufacturing Co. Ltd., which was initiated by NCLT vide an order dated 27.04.2022. 58 of 2022 The …

Weekly Digest Of IBC Cases: 23rd May To 29th May, 2022
2 years, 9 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 …

'Having NCLT Benches At Different Locations Causes Administrative Difficulties': Delhi High Court Orders Status Quo On Space Vacated By MNRE
2 years, 10 months ago

'Having NCLT Benches At Different Locations Causes Administrative Difficulties': Delhi High Court Orders Status Quo On Space Vacated By MNRE

Live Law  

The Delhi High Court has recently directed the maintenance of status quo with regards to the occupation, renovation or construction of the space vacated by the Ministry of New and Renewable Energy in the building, where the National Company Law Tribunal is located, till May 4, 2022.A division bench comprising of Acting Chief Justice Vipin Sanghi and Justice Navin Chawla …

NCLAT Stays The Constitution Of Committee Of Creditors Of Supertech Limited
2 years, 11 months ago

NCLAT Stays The Constitution Of Committee Of Creditors Of Supertech Limited

Live Law  

The National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Ms.Shreesha Meerla stays the constitution of committee of creditors and adjourned the appeal preferred by suspended director of Supertech Limited against the order dated 25.03.2022 of NCLT New Delhi which initiated the CIRP against Supertech Limited to 19.04.2022. Senior Advocate Arun Kathpalia appeared …

National Company Law Tribunals; Reeling Under Poor Infrastructure
2 years, 11 months ago

National Company Law Tribunals; Reeling Under Poor Infrastructure

Live Law  

The National Company Law Tribunals were constituted in 2016 for adjudication of matters arising out of the Companies Act, 2013, and exclusive jurisdiction under the Companies Act was vested with the NCLTs. · Similarly, there is no judicial member in NCLT Bench V, New Delhi, and the Judicial Member, Mr. ARK Sinha is holding Bench II NCLT, Delhi in the …

NCLAT Chennai Stays Corporate Insolvency Resolution Process Initiated Against Tata Projects Ltd
3 years, 2 months ago

NCLAT Chennai Stays Corporate Insolvency Resolution Process Initiated Against Tata Projects Ltd

Live Law  

The Chennai Bench of the National Company Law Appellate Tribunal has stayed the order initiating Corporate Insolvency Resolution Process against Tata Projects Limited upon being informed that the parties have entered into a settlement agreement. The NCLAT comprising Justice M. Venugopal and Kanthi Narahari also directed the IRP to file an application for withdrawal of the. The NCLAT comprising Justice …

Make Indore Bench Of NCLT Functional At Least For 2 Days A Week: Madhya Pradesh High Court To Centre
3 years, 3 months ago

Make Indore Bench Of NCLT Functional At Least For 2 Days A Week: Madhya Pradesh High Court To Centre

Live Law  

The Madhya Pradesh High Court has asked the Centre to leave no stone unturned to make the Indore Bench of National Company Law Tribunal functional at least for two days a week.The Bench of Justice Sujoy Paul and Justice Pranay Verma said this taking into account the fact that the litigants and lawyers of the jurisdiction are required to travel …

National Company Law Tribunal Notifies Composition Of Benches For Regular Hearing Via Video Conferencing Mode From July 1
3 years, 8 months ago

National Company Law Tribunal Notifies Composition Of Benches For Regular Hearing Via Video Conferencing Mode From July 1

Live Law  

The National Company Law Tribunal has notified the composition of the principal bench as well as other be benches with effect from July 1 through video conferencing mode on all working days.The office order issued by the Registrar of NCLT, Mr. Shiv Ram Bairwa stated that all the Hon'ble members shall attend the bench from their court rooms through video …

Allahabad High Court Issues Notice On Plea For Establishment Of Regional NCLAT Bench In Prayagraj
4 years, 1 month ago

Allahabad High Court Issues Notice On Plea For Establishment Of Regional NCLAT Bench In Prayagraj

Live Law  

The Allahabad High Court on Wednesday issued notice on a PIL filed by Company Law Tribunal Bar Association, Allahabad, seeking establishment of a Regional Bench of NCLAT in Prayagraj. A Division bench comprising of Justices Sanjay Yadav and Jayant Banerji heard Senior Advocate RP Agarwal and Advocate Udai Chandani on behalf of the Association, and directed the Ministry of Corporate …

Three Sitting Members Of NCLAT Move Supreme Court Challenging Disparaging Remarks Made Against Them By Five-Judge Bench
4 years, 1 month ago

Three Sitting Members Of NCLAT Move Supreme Court Challenging Disparaging Remarks Made Against Them By Five-Judge Bench

Live Law  

A plea has been filed before the Supreme Court by three sitting members of National Company Law Appellate Tribunal challenging the derogatory remarks made against them by a 5- member Bench of the NCLAT in an order. The impugned statements in the order of the five-judge Bench which have been challenged before the Apex Court state that it was a …

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