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Articles for Financial Creditor, search results for applicant

Loan Amount Acknowledged As “Long-Term Borrowings” Has Commercial Effect And Covered U/S 5(8) Of IBC: NCLT Mumbai
7 months, 1 week ago

Loan Amount Acknowledged As “Long-Term Borrowings” Has Commercial Effect And Covered U/S 5(8) Of IBC: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising Ms. Lakshmi Gurung, Member & Sh. Charanjeet Singh Gulati, while adjudicating an application under Section 7 of Insolvency and Bankruptcy Code, 2016 in the case of Metamorphosis Trading LLP vs Membrane Filters Private Limited has held that the loan amount acknowledged in the books of the Corporate Debtor as “Long-term Borrowings” is …

Corporate Financial Debt Loan Tribunal Debtor Private Limited
NCLT Mumbai: Financial Creditor Can't Initiate CIRP Against Successful Resolution Applicant On Default Of Payment As Per Resolution Plan
11 months, 3 weeks ago

NCLT Mumbai: Financial Creditor Can't Initiate CIRP Against Successful Resolution Applicant On Default Of Payment As Per Resolution Plan

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising Shri Kuldip Kumar Kareer and Shri Anil Raj Chellan held that the Financial Creditor cannot initiate a Corporate Insolvency Resolution Process application against the Successful Resolution Applicant on default in payment to Stakeholders/Creditors as per terms of the approved Resolution Plan under Insolvency and Bankruptcy Code, 2016. Where the corporate debtor, any …

Corporate Financial Resolution Resolution Plan Tribunal Plan Five Years
Dissenting Secured Creditor Can't Be Treated Higher Than Other Creditors U/S 53 Just Because They Enjoy Security Interest: NCLT Kolkata
1 year, 9 months ago

Dissenting Secured Creditor Can't Be Treated Higher Than Other Creditors U/S 53 Just Because They Enjoy Security Interest: NCLT Kolkata

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The National Company Law Tribunal, Kolkata Bench, comprising of Shri Rohit Kapoor and Shri. Balraj Joshi, while adjudicating an Application under Section 60 of Insolvency and Bankruptcy Code, 2016 in ICICI Bank Limited Vs Mr. Pratim Bayal & Anr has reiterated that just because a creditor enjoys security interest, it cannot be treated higher than other creditors who have financed …

Corporate Resolution Applicant Interest Resolution Professional Tribunal Creditors
NCLAT Delhi Upholds Remitting Of Resolution Plan Back To COC For Compliance Of Sec 30(2) IBC
1 year, 9 months ago

NCLAT Delhi Upholds Remitting Of Resolution Plan Back To COC For Compliance Of Sec 30(2) IBC

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The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, while adjudicating an appeal filed in Noble Marine Metals Co WLL v Kotak Mahindra Bank Limited & Ors., 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 …

Corporate Resolution Resolution Plan Plan Committee Bench Nclat
Advance Collected From Allottes Towards Payment Of Maintenance Charges Or Taxes Is Operational Debt: NCLT Mumbai
1 year, 9 months ago

Advance Collected From Allottes Towards Payment Of Maintenance Charges Or Taxes Is Operational Debt: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench comprising of Shri Kishore Vemulapalli and Shri Prabhat Kumar, while adjudicating an application filed in Innova Premises Co-operative Society Limited v Marathon Nextgen Realty Limited, has held that money collected from allottees for payment towards maintenance charges or taxes of the real estate project, is akin to the money paid in advance to …

Society Corporate Maintenance Operational Debt Applicant Nclt
Related Party Of Financial Creditor Not Barred U/S 29A To Submit A Resolution Plan: NCLT Cuttack
2 years, 2 months ago

Related Party Of Financial Creditor Not Barred U/S 29A To Submit A Resolution Plan: NCLT Cuttack

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The National Company Law Tribunal, Cuttack Bench, comprising of Shri P. Mohan Raj, while adjudicating an application filed in Trimex Industries Pvt. Sathavahana Ispat Ltd. & Ors., has held that the IBC does not bar a related party of the Financial Creditor from submitting a resolution plan for the Corporate Debtor. Jindal Saw Ltd. had submitted a resolution plan for …

Corporate Financial Resolution Application Applicant Judicial Resolution Plan
NCLAT Nod To Roma Unicon Designex Consortium As The Successful Resolution Applicant Of Earth Infrastructure Ltd.
2 years, 7 months ago

NCLAT Nod To Roma Unicon Designex Consortium As The Successful Resolution Applicant Of Earth Infrastructure Ltd.

Live Law  

The National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Ms. Shreesha Merla and Dr. Alok Srivastava, recently adjudicated an appeal filed by a Financial Creditor in Bipin Sharma v Earth Infrastructure Ltd. & Anr., challenging the eligibility of the Successful Resolution Applicant, Roma Unicon Designex Consortium, under Section 29A of the Insolvency and Bankruptcy Code, 2016. …

Supreme Court Appeal Corporate Financial Resolution Supreme Court Judgment Resolution Plan
Insolvency Law In Review – October 2020
4 years, 1 month ago

Insolvency Law In Review – October 2020

Live Law  

BY Rahul Sibal, Siddharth Sunil, Akshata Singh, Pranav Narsaria & Karan Sangani The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. High Courts In Gouri Shankar Chatterjee v. State Bank of India, the Calcutta High Court held that the National Company Law Tribunal did not have the jurisdiction to entertain an …

Law Delhi Mumbai Supreme Court Corporate Financial Insolvency