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Articles for Irp, search results for operational

Guarantor Cannot Become Financial Creditor Without Making Any Payment In Discharge Of Guarantee: NCLAT
3 weeks, 5 days ago

Guarantor Cannot Become Financial Creditor Without Making Any Payment In Discharge Of Guarantee: NCLAT

Live Law  

The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that guarantor cannot become a financial creditor without paying any amount towards discharging the liability of the principal borrower for whom the guarantee was given. The IRP sent a report in which two more unsecured financial creditors, the appellants herein, were …

Corporate Financial Bank Loan Payment Nclat Irp
Interest On Operational Debt Cannot Be Claimed If There Is No Clause In Agreement For Payment Of Interest: NCLAT
1 month ago

Interest On Operational Debt Cannot Be Claimed If There Is No Clause In Agreement For Payment Of Interest: NCLAT

Live Law  

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 RP has also filed reply to the Supplementary Affidavit, which was filed by the Appellant, with regard to interest, it was pleaded …

Corporate Debt Interest Payment Agreement Nclt Filed
Madras High Court: Every Claim Of Operational Creditors Includes Right To Their Property Under Article 300A Of The Constitution
6 months, 1 week ago

Madras High Court: Every Claim Of Operational Creditors Includes Right To Their Property Under Article 300A Of The Constitution

Live Law  

The Madras High Court comprising of Justice N. Seshasayee held that every claim by operational creditors involves a right to their property under Article 300A of the Constitution of India. Observations by the High Court: The Madras High Court dismissed the writ petition and highlighted a key point that every claim by operational creditors involves a right to their property …

India Corporate Constitution Property Court Right High
NCLAT Delhi: Security Of Refund Of Advance Amount Can't Change Nature Of Transaction Into Financial Debt
10 months, 3 weeks ago

NCLAT Delhi: Security Of Refund Of Advance Amount Can't Change Nature Of Transaction Into Financial Debt

Live Law  

The National Company Law Appellate Tribunal New Delhi Bench, comprising Justice Ashok Bhushan, Mr. Barun Mitra, and Mr. Arun Baroka held that the Security of refund of the advance amount cannot change the nature of transaction into financial debt. NCLAT Verdict: The NCLAT New Delhi dismissed the appeal and held that the Security of refund of advance amount cannot change …

Security Corporate Financial Operational Debt Advance Sugar
Shifting Entire Blame On IRP Not Justified; Creditors Must Also Play Catalytic Role In CIRP: NCLAT Delhi
1 year, 9 months ago

Shifting Entire Blame On IRP Not Justified; Creditors Must Also Play Catalytic Role In CIRP: NCLAT Delhi

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 Shri Guru Containers v Jitendra Palande, has held that creditors must not shift the entire blame on the IRP on grounds of non-performance of duty and make him the scapegoat. Background Facts Shri Guru Containers filed an …

Corporate Operational Order Bench Nclat Irp Creditors
Mobilization Advance Is An Operational Debt: NCLAT Delhi
2 years, 4 months ago

Mobilization Advance Is An Operational Debt: NCLAT Delhi

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 Athena Demwe Power Ltd. v Abir Infrastructure Private Limited & Ors., has held that a mobilization advance given for mobilization of material and workforce is an operational debt. Issues Whether the mobilization advance …

Financial Corporate Debtor Operational Advance Bench Nclat Claim
NCLAT Delhi Sets Aside The CIRP Of LA Residentia Developers, As Parties Enter Settlement
2 years, 4 months ago

NCLAT Delhi Sets Aside The CIRP Of LA Residentia Developers, As Parties Enter Settlement

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Justice M. Satyanarayana Murthy and Mr. Naresh Salecha, while adjudicating an appeal filed in Amrapali LA-Residentia Flat Buyers Welfare Association v LA Residentia Developers Pvt. The Operational Creditor in 2020 had filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 before the NCLT …

Corporate Corporate Debtor Operational Creditor Operational Application Ors Filed
NCLT Hyderabad Initiates Insolvency Process Against Trident Sugars LTD.
2 years, 5 months ago

NCLT Hyderabad Initiates Insolvency Process Against Trident Sugars LTD.

Live Law  

The National Company Law Tribunal, Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula and Shri Veera Brahma Rao Arekapudi, while adjudicating an application filed in NSL Krishnaveni Sugars Ltd v Trident Sugars Limited, has initiated Corporate Insolvency Resolution Process against Trident Sugars Ltd. and has appointed Mr. Medi Yadaiah as the Interim Resolution Professional. The Operational Creditor had performed …

Supply Corporate Debtor Operational 2020 Bench Petition Irp
NCLT Delhi Initiates Insolvency Process Against National Textile Corporation Ltd., A Public Sector Enterprise
2 years, 6 months ago

NCLT Delhi Initiates Insolvency Process Against National Textile Corporation Ltd., A Public Sector Enterprise

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Mr. Dharminder Singh and Ms. Sumita Purkaysatha, while adjudicating a petition filed in Hero Solar Energy Pvt. Ltd. v National Textile Corporation Ltd., has initiated Corporate Insolvency Resolution Process against National Textile Corporation Ltd. and has appointed Mr. Amit Talwar as the Interim Resolution Professional. Background Facts National Textile Corporation …

India Corporate Dispute Penalty Corporate Debtor Operational Solar
CBI Arrests Interim Resolution Professional For Demanding A Bribe Of 20 Lakhs
2 years, 7 months ago

CBI Arrests Interim Resolution Professional For Demanding A Bribe Of 20 Lakhs

Live Law  

Central Bureau of Investigation arrested insolvency professional Mr. Subrata Monindranath Maity for demanding a bribe of INR 20 lakhs from the promoter of Guardian Home Pvt. Brief Background NCLT Mumbai vide its order dated 03.01.2020 dismissed the Section 9 petition against Guardian Homes but the same was set aside by NCLAT vide its orderdated 08.12.2020. Thereafter, NCLT Mumbai vide its …

Homes Cbi Guardian Inr Irp Its Order Lakhs
Insolvency Law In Review – January 2021
3 years, 9 months ago

Insolvency Law In Review – January 2021

Live Law  

The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. 7, 11 and 32A of the Code vide the Insolvency and Bankruptcy Code Act, 2020 by, inter alia, holding the following: In respect of the first and second provisos inserted by way of amendments to S. 7 of the Code – which …

Law Hyderabad Supreme Court Corporate Court Chennai Registrar