News Muncher - searching for mr

6 days, 13 hours ago

Copy Of Other Prospective Resolution Applicants' Plans Cannot Be Shared When Suspended Management Is Also A Resolution Applicant: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mitra has held that copy of the Resolution Plans submitted by other Prospective Resolution Applicants cannot be shared in advance with the suspended management of the corporate debtor when the suspended management is also a Resolution Applicant. It was further submitted that the CoC had approved the resolution …

Resolution Applicant Tribunal Plan Plans Shared Suspended

1 week, 3 days ago

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW

The Hindu

The Enforcement Directorate has restituted assets worth ₹4,025 crore to JSW, a Successful Resolution Applicant in the matter of the erstwhile Bhushan Power and Steel Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code. The assets were provisionally attached by the ED under Section 5 of Prevention of Money Laundering Act as the erstwhile promoters of …

Properties Assets Crore Banks Ibc Jsw Cirp

2 weeks, 1 day 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 …

India Insolvency Resolution Corporate Debtor Title Technical Resolution Professional

2 weeks, 6 days 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 …

Mumbai Appeal Court Chennai Insolvency Corporate Debtor Title

3 weeks ago

Related Party Can't Be Allowed Backdoor Entry Into CoC On Account Of Its Operational Debt: NCLT Kolkata

Live Law

The NCLT, Kolkata bench of Justice Ashok Kumar Bhardwaj has held that once a Financial Creditor had been classified as a “related party”, it could not be allowed to gain entry into Committee of Creditors on account of its Operational Debt as it would amount to defeating the legislative intent of keeping related parties out and running of CoC by …

Supreme Court Corporate Corporate Debtor Operational Creditor Operational Party Debt

3 weeks, 1 day ago

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

Live Law

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

Appeal Insolvency Title Companies Act Technical Company Judicial

3 weeks, 5 days ago

Application U/S 7 Of IBC Cannot Be Admitted In Absence Of Debt And Default: NCLAT New Delhi

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mitra has held that application under section 7 of the IBC cannot be admitted in absence of any debt and consequent default on the part of the corporate debtor. Payments having already been received by Thakkars of the balance amount for payment to the Investors, there was no …

Financial Corporate Debtor Application Agreement Investors Crores Mou

1 month ago

When Statutory Criteria U/S 7 Of IBC Is Satisfied, Tribunal Must Admit CIRP: NCLT, Mumbai

Live Law

The National Company Law Tribunal, Mumbai bench, comprising Justice V. G. Bisht and Sh. The Tribunal reiterated that the existence of an arbitral award in favour of the Corporate Debtor did not bar the admission of the CIRP petition. When initiation of CIRP is resisted on the ground of existence of an award in favour of corporate debtor whose amount …

Corporate Financial Bank Debt Tribunal Respondent Nclt

1 month, 1 week 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 …

Corporate Electricity Resolution Tribunal Held Respondent Plan

1 month, 1 week ago

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

Live Law

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

Supreme Court Appeal Court Insolvency Resolution Technical Resolution Professional

1 month, 2 weeks ago

Liquidator's Reliance On Transaction Audit Report Sufficient To File Application For Avoidance Of Preferential Transactions U/S 43 Of IBC: NCLAT

Live Law

The NLCAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka held that when the Liquidator has got a Transaction Audit Report done and on the basis of which has come to a conclusion that this is a preferential transaction, it cannot be said that he has not formed an independent opinion before filing an application for …

Corporate Order Audit Tribunal Report Transaction Liquidator

5 months, 1 week ago

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

Live Law

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

Delhi Corporate Central Bank Bank Company Liability Nclt

6 months 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 …

Delhi Financial Insolvency Resolution Application Order Limitation

6 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 …

Justice Delhi Mumbai Kolkata Supreme Court High Court Insolvency

7 months 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. …

Law Justice Delhi National Title Technical Company

7 months ago

NCLAT Delhi: Dispute On Contractual Conditions Concerning Place Of Delivery And Obligation Towards Transport Of Goods Qualifies As “Pre-Existing Dispute” Under IBC

Live Law

The National Company Law Appellate Tribunal Delhi, comprising Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey held that the dispute between the parties regarding contractual conditions relating to place of delivery and obligation of parties for transport of goods is a “pre-existing dispute” under the Insolvency and Bankruptcy Code, 2016. Subsequently, the Appellant filed a Corporate Insolvency …

Dispute Parties Goods Appellant Cirp Nclat Delhi Ibc Nclat

7 months, 2 weeks ago

Claim Cannot Be Admitted After The Approval Of Resolution Plan By The CoC Even If Approval By The Adjudicating Authority U/S 31 Of IBC Is Pending: NCLT Mumbai

Live Law

The National Company Law Tribunal, Mumbai Bench, comprising Mr. Kuldip Kumar Kareer and Mr. Anil Raj Chellan has held that claims cannot be admitted after the approval of the resolution plan by the Committee of Creditors even if approval by the Adjudicating Authority under section 31 of the Insolvency and Bankruptcy Code, 2016 is pending. In November 2021, Mr. Jai …

Resolution Resolution Plan Respondent Plan Nclt Approval Kumar

7 months, 3 weeks ago

NCLT Kolkata: NCLT Has No Jurisdiction To Set Aside Arbitral Award Passed During Moratorium Period U/S 14 Of IBC

Live Law

The National Company Law Tribunal Kolkata, comprising Smt. Bidisha Banerjee and Shri D. Arvind held that the Adjudicating Authority lacks jurisdiction to set aside an arbitral award even when the award was issued post-initiation of Corporate Insolvency Resolution Process and during moratorium period under Section 14 of the Insolvency and Bankruptcy Code, 2016. Subodh Kumar Agarwal, the Resolution Professional of …

Kolkata Jurisdiction Tribunal Nclt Set Award Moratorium

8 months, 3 weeks ago

NCLT Kolkata: Any Attachment Of Tainted Assets Of Corporate Debtor Before CIRP Commencement Would Always Be Available To Fulfill The Object Of IBC

Live Law

The National Company Law Tribunal Kolkata, comprising Smt. Bidisha Banerjee, and Shri D. Arvind held that Any attachment of tainted assets of a Corporate Debtor before the Corporate Insolvency Resolution Process commencement would always be available to fulfill the object and goal of the Insolvency and Bankruptcy Code, 2016. NCLT Verdict: The NCLT Kolkata allowed the CIRP application and held …

Kolkata Corporate Resolution Corporate Debtor Assets Tribunal Nclt

8 months, 3 weeks ago

NCLAT Delhi; IBC Does Not Provide Any Scope For Dissatisfied Homebuyers In Minority To Override Majority Decision Of COC

Live Law

The National Company Law Appellate Tribunal New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the IBC does not provide any scope for dissatisfied homebuyers in the minority to override the majority decision taken by the Committee of Creditors. The NCLT Mumbai, in its order dated 06.10.2023, dismissed the application filed by the appellant and approved …

Mumbai Resolution Homebuyers Project Respondent Class Ors

9 months, 1 week ago

NCLT Kolkata: IBC Prevails Over State Financial Corporation Act, 1951

Live Law

The National Company Law Tribunal Kolkata, comprising Justice Ms. Bidisha Banerjee and Shri Arvind Devanathan held that the Insolvency and Bankruptcy Code, 2016 prevails over State Financial Corporation Act, 1951. Mr. Rajesh Lahila was appointed as the Resolution Professional on 17.02.2022 to manage the CIRP of the Corporate Debtor and to take custody of all the assets of the Corporate …

Kolkata Corporate Financial Property West Bengal Assets Tribunal

9 months, 1 week ago

NCLT Mumbai Approves Rs. 9,661 Crore Resolution Plan By Indusind International Holdings For Reliance Capital

Live Law

The National Company Law Tribunal Mumbai, comprising Justice V.G. 9,661 crore resolution plan submitted by IndusInd International Holdings Ltd for Reliance Capital under Section 31 of the Insolvency and Bankruptcy Code, 2016. Background Facts: On 06.12.2021, NCLT Mumbai admitted the Corporate Insolvency Resolution Process application and appointed Mr. Nageswara Rao Y as the Administrator of Reliance Capital Limited. Case Title: …

Resolution Applicant Resolution Plan Plan Crore Nclt Reliance

9 months, 2 weeks ago

NCLAT Delhi: Section 29A(C) Disqualifies Those Managing And Controlling Corporate Debtor Who Failed To Clear Debts

Live Law

The National Company Law Appellate Tribunal New Delhi, comprising Mr. Justice Ashok Bhushan and Mr. Barun Mitra held that Section 29A of Insolvency and Bankruptcy Code, 2016 disqualifies not only those in management and control of the Corporate Debtor when its account was declared Non-Performing Asset but also those in management and control of the Corporate Debtor in close proximity …

Delhi Corporate Management Resolution Corporate Debtor Control Resolution Plan

9 months, 2 weeks ago

NCLAT Delhi: Trademark Hypothecated For Higher Amount And Assignment For Lower Amount Can't Be Sole Criteria To Treat It As 'Undervalued Transaction'

Live Law

The National Company Law Appellate Tribunal New Delhi, comprising Mr. Justice Rakesh Kumar Jain and Mr. Naresh Salecha held that the mere fact that the trademark was hypothecated for a higher amount and subsequently assigned for a lower amount would not be the sole criteria for deeming it an undervalued transaction. Further, it also prayed for an Order clarifying that …

Trademark Corporate Debtor Nclt Nclat Transaction Appellant Ibc

Filters

Articles for Ibc, search results for mr

Copy Of Other Prospective Resolution Applicants' Plans Cannot Be Shared When Suspended Management Is Also A Resolution Applicant: NCLAT

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW

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

IBC Monthly Digest: November 2024

Related Party Can't Be Allowed Backdoor Entry Into CoC On Account Of Its Operational Debt: NCLT Kolkata

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

Application U/S 7 Of IBC Cannot Be Admitted In Absence Of Debt And Default: NCLAT New Delhi

When Statutory Criteria U/S 7 Of IBC Is Satisfied, Tribunal Must Admit CIRP: NCLT, Mumbai

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

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

Liquidator's Reliance On Transaction Audit Report Sufficient To File Application For Avoidance Of Preferential Transactions U/S 43 Of IBC: NCLAT

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

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

Monthly Digest Of IBC Cases: May 2024

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

NCLAT Delhi: Dispute On Contractual Conditions Concerning Place Of Delivery And Obligation Towards Transport Of Goods Qualifies As “Pre-Existing Dispute” Under IBC

Claim Cannot Be Admitted After The Approval Of Resolution Plan By The CoC Even If Approval By The Adjudicating Authority U/S 31 Of IBC Is Pending: NCLT Mumbai

NCLT Kolkata: NCLT Has No Jurisdiction To Set Aside Arbitral Award Passed During Moratorium Period U/S 14 Of IBC

NCLT Kolkata: Any Attachment Of Tainted Assets Of Corporate Debtor Before CIRP Commencement Would Always Be Available To Fulfill The Object Of IBC

NCLAT Delhi; IBC Does Not Provide Any Scope For Dissatisfied Homebuyers In Minority To Override Majority Decision Of COC

NCLT Kolkata: IBC Prevails Over State Financial Corporation Act, 1951

NCLT Mumbai Approves Rs. 9,661 Crore Resolution Plan By Indusind International Holdings For Reliance Capital

NCLAT Delhi: Section 29A(C) Disqualifies Those Managing And Controlling Corporate Debtor Who Failed To Clear Debts

NCLAT Delhi: Trademark Hypothecated For Higher Amount And Assignment For Lower Amount Can't Be Sole Criteria To Treat It As 'Undervalued Transaction'