IBC Weekly Round Up [23rd December-29th December 2024]
1 week, 2 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 SERVICES LIMITED, I.A. Decree Holder Is “Financial Creditor” Under IBC, Limitation For Filing Section 7 Petition Is Extendable On Acknowledgment Of Debt: NCLAT Case Title: Mr. Rakesh Kumar Jain vs. M/s ADTV Communications Private Limited Case Number: Company Appeal No. Application U/S 12A Of IBC Can Be Withdrawn By Resolution Professional Before It Is Heard Or Allowed: NCLAT Case Title: Mehul Patel Vs. Nandish S. Vin & Anr Case Number: Company Appeal No.2191 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that CIRP withdrawal application can be withdrawn by Resolution Professional before the application is heard and allowed. Case Number: Company Appeal No.1733 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that CIRP cannot be withdrawn under section 12A read with Regulation 30A unless application for withdrawal is filed by the applicant who initiated the CIRP.

Appeal Insolvency Title Application Technical Company 2024 Tribunal New Delhi Number Patel Kumar Member Versus Irp Gda Cci Ibc Cirp Technical Member Justice Ashok Bhushan Company Appeal Barun Mitra Case Number Status Report Judicial Member Kumar Jain Suspended Director Section 7 Application No Claim Karvy Data Management Services Limited Ghaziabad Development Authority Rakesh Kumar Jain  december29th  number  weekly  member  company  2024  title  application  mr  ibc  appeal  technical  23rd  vs  insolvency  round

History of this topic

IBC Monthly Digest: December 2024
1 week 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: 16th December -20th December 2024
2 weeks, 1 day 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, 2 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]
4 weeks, 2 days 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 Monthly Digest: November 2024
1 month 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 …

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

Application U/S 95 Cannot Be Rejected On Grounds Of Pendency Of One Time Settlement Proposal: NCLAT
1 month, 1 week ago

Application U/S 95 Cannot Be Rejected On Grounds Of Pendency Of One Time Settlement Proposal: NCLAT

Live Law  

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that pendency of One Time Settlement Proposal which is yet to be accepted, cannot be a ground to refuse initiation of insolvency process against the personal guarantors. Brief Facts These two appeals have been filed challenging the order passed by National …

IBC Weekly Round-Up [18th November To 24th November 2024]
1 month, 2 weeks ago

IBC Weekly Round-Up [18th November To 24th November 2024]

Live Law  

Nominal Index Siti Networks Ltd. vs. Rajiv Suri NO. 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. The Tribunal further …

IBC Weekly Digest: 11th November To 17th November 2024
1 month, 2 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 …

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 …

Half Yearly Digest Of IBC Cases : January To June,2024
5 months, 3 weeks 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 …

NCLAT Delhi: Section 95(1) Of IBC Permits Creditors To Initiate Insolvency Proceedings Against Personal Guarantors Via A Resolution Professional
6 months, 2 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
6 months, 4 weeks 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 …

Weekly Digest Of IBC Cases: 13th To 19th May 2024
7 months, 2 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 …

NCLT admits Subhash Chandra into personal insolvency on Indiabulls plea
8 months, 2 weeks ago

NCLT admits Subhash Chandra into personal insolvency on Indiabulls plea

Live Mint  

The National Company Law Tribunal on Monday has admitted Zee Entertainment Enterprises Ltd. chairman emeritus Subhash Chandra into personal insolvency on the plea filed by Indiabulls Housing Finance over guarantees given to a company called Vivek Infracon. Indiabulls Housing Finance had filed a plea in 2022 to commence personal insolvency proceedings against Subhash Chandra after a loan of ₹170 crore …

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: 25th To 31st March 2024
9 months, 1 week ago

Weekly Digest Of IBC Cases: 25th To 31st March 2024

Live Law  

Supreme Court Case Title: Deccan Value Investors L.P. & Anr. The Bench Comprising Justices Sanjiv Khanna and Dipankar Datta referred to the Judgment of Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited and Another, where the Supreme Court elaborated and set out several reasons why the resolution applicant cannot be permitted to withdraw or modify the …

Monthly Digest Of IBC Cases: February 2024
10 months ago

Monthly Digest Of IBC Cases: February 2024

Live Law  

Supreme Court Case Title: Greater Noida Industrial Development Authority Versus Prabhjit Singh Soni & Anr. : Company Appeal No.82 of 2024 The National Company Law Appellate Tribunal New Delhi, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and Mr. Arun Baroka held that the Adjudicating Authority ought to have granted an exclusion/extension of time when the Resolution Plan received in the …

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 …

Weekly Digest Of IBC Cases: 29th January To 4th February 2024
11 months ago

Weekly Digest Of IBC Cases: 29th January To 4th February 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V M/S. : Company Appeal No.1650 of 2023 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Shri Barun Mitra and Shri Arun Baroka, has held that a resolution applicant who has participated in the process, has locus to object the application filed by Resolution Professional …

Monthly Digest Of IBC Cases: January 2024
11 months 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: December 2023
1 year ago

Monthly Digest Of IBC Cases: December 2023

Live Law  

Supreme Court IBC | When Matter Heard But No Order Pronounced On The Same Day, Limitation To Commence From The Date When Order Gets Uploaded: Supreme Court Case Title: Sanjay Pandurang Kalate v Vistra ITCL Limited and Others Case No. “Such proactive action by tribunals is essential to ensure that the move towards a modernized and technology-friendly judiciary trickles down …

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: 27th November To 3rd December 2023
1 year, 1 month ago

Weekly Digest Of IBC Cases: 27th November To 3rd December 2023

Live Law  

Supreme Court IBC | For Rejection Of A Resolution Plan Under Section 31, NCLT Must Pass A Reasoned Order: Supreme Court Case Title: Ramkrishna Forgings Limited v Ravindra Loonkar & Anr. 692 of 2022 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Rakesh Kumar Jain and Shri Naresh Salecha, has upheld the order whereby the NCLT …

NCLAT Delhi: Benefit Under Section 17 Of Limitation Act Is Not Available When Fraud Was Played In Creditor Company And Not In Company Of Corporate Debtor
1 year, 2 months ago

NCLAT Delhi: Benefit Under Section 17 Of Limitation Act Is Not Available When Fraud Was Played In Creditor Company And Not In Company Of Corporate Debtor

Live Law  

The National Company Law Appellate Tribunal, Delhi Bench, comprising of Justice Ashok Bhushan, Mr Barun Mitra and Mr Arun Baroka has rejected an appeal and held that benefits under Section 17 of the Limitation Act, 1963 for filing a belated claim is not available when the fraud was played in the Creditor Company and not in the company of the …

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, …

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC
1 year, 2 months ago

NCLT Mumbai: Penalty Imposed By SEBI During Liquidation Can Be Claimed Before Liquidator And Considered U/S 53 Of IBC

Live Law  

The National Company Law Tribunal, Mumbai Bench comprising of Ms. Lakshmi Gurung and Shri Charanjeet Singh Gulati, allowed the appeal filed in Securities Board of India vs. Mr. Vishal Ghisulal Jain, Liquidator of, Sterling International Enterprises Ltd. The Tribunal held that a penalty imposed by SEBI’s Adjudicating Officer during the liquidation can be claimed before the Liquidator and can be …

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, 3 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: 8 To 21 August 2023
1 year, 4 months ago

Weekly Digest Of IBC Cases: 8 To 21 August 2023

Live Law  

NCLAT NCLAT Delhi Upholds Reduction Of Resolution Professional’s Fee By NCLT Case Title: Rohit J. Vora v Religare Finvest Ltd. & Ors. No.1088 of 2023 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Engine Lease Finance B.V. v Resolution Professional of Go Airlines Ltd. …

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 …

Weekly Digest Of IBC Cases: 8 May To 14 May 2023
1 year, 7 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 …

No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi
1 year, 9 months ago

No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Shri Naresh Salecha, while adjudicating an appeal filed in Diwakar Sharma v Anand Sonbhadra, has held that there is no scope for condonation of delay beyond the period of 15 days much less 45 days, as there is no window available for NCLAT to exercise …

Weekly Digest Of IBC Cases: 7 March To 12 March 2023
1 year, 9 months ago

Weekly Digest Of IBC Cases: 7 March To 12 March 2023

Live Law  

NCLAT Case Title: Noble Marine Metals Co Wll V Kotak Mahindra Bank Limited & Ors. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, has upheld the order of Adjudicating Authority whereby a Resolution Plan was remitted back to the Committee of Creditors for making changes, only to the extent of a …

Weekly Digest Of IBC Cases: 27 February To 6 March 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 27 February To 6 March 2023

Live Law  

NCLAT Case Title: Greymatter Entertainment Pvt. 1043 of 2021 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, has held that IBC does not prevent the Corporate Debtor from establishing defences of ‘Pre-existing dispute’ or ‘No amount due’ through its Reply to Section 9 application and supporting documents, even if it failed …

Monthly Digest Of IBC Cases: February 2023
1 year, 10 months 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
1 year, 10 months 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 …

Weekly Digest Of IBC Cases: 13 February To 19 February 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 13 February To 19 February 2023

Live Law  

NCLAT Partial Payment Of PF & Gratuity Dues Violative Of Section 30 Of IBC: NCLAT Chennai Reiterates Case Title: Mrs. C.G. 924 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Mr. Barun Mitra, has held that an application under Section 9 of IBC is not a suit and hence, the bar under …

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI
1 year, 10 months ago

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, while adjudicating an appeal filed in Insolvency & Bankruptcy Board of India v GTL Infrastructure Ltd. & Ors., has dismissed an appeal filed by the Insolvency and Bankruptcy Board of India, challenging the dismissal of a Section 7 petition in a matter …

Monthly Digest Of IBC Cases: January 2023
1 year, 11 months ago

Monthly Digest Of IBC Cases: January 2023

Live Law  

Supreme Court “Inappropriate, Almost Bordering On Contempt”: SC Deprecates NCLAT Order Impeding Implementation Of SC Order Case Title: Indiabulls Housing Finance Ltd. v Iirf India Realty Xii Ltd. & Ors. 1417 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 Adjudicating Authority is …

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