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1 week, 5 days ago

NBCC to take over Supertech Limited projects following NCLAT order

The National Company Law Appellate Tribunal on Thursday appointed state-owned NBCC Ltd to take over and complete 16 delayed housing projects of Supertech Ltd, bringing long-awaited relief to over 42,000 homebuyers who have been awaiting their homes for years. Insolvency appellate tribunal NCLAT, in its order, highlighted that NBCC must go beyond its typical role as a project management consultant …

Homebuyers Order Projects Project Noida Greater Noida Nclat

1 week, 5 days ago

NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka

Hindustan Times

In a move that will bring relief to thousands of homebuyers, the National Company Law Appellate Tribunal has appointed the government’s construction arm NBCC as a project management consultant to complete real estate company Supertech Ltd's 16 real estate projects in Uttar Pradesh, Uttarakhand, Haryana and Karnataka at a cost of almost ₹9,500 crore. National Company Law Appellate Tribunal has …

Karnataka Court Uttar Pradesh Haryana Uttarakhand Projects Project

1 month ago

Since Shareholders Of Corporate Debtor Do Not Fall Within Definition Of “Aggrieved Party”, Appeal Filed U/S 61 Of IBC Not Maintainable: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Rakesh Kumar Jain,Mr. Naresh Salecha and Mr. Indevar Pandey affirmed that a shareholder of the company is not the “aggrieved party” as per the provisions of the Code therefore appeal filed by him under section 61 of the Code would not be maintainable. In the aforesaid Company matter, the Respondent no.1 submitted copy …

Appeal Corporate Shareholders Corporate Debtor Operational Creditor Companies Act Company

1 month ago

Raheja Developers moves NCLAT against insolvency

Live Mint

New Delhi, Nov 20 Raheja Developers on Wednesday moved before the appellate tribunal NCLAT to challenge the initiation of insolvency proceedings against the realty firm over default on non-delivery of its Gurugram-based Shilas project. The said order has been now challenged by Navin Raheja, Chairman & Managing Director of the suspended board of the realty firm before the National Company …

Gurugram Nclt Developers Irp Force Majeure Cirp Raheja Developers

2 months, 4 weeks ago

Byju’s insolvency case: Supreme Court reserves judgment on challenge to NCLAT’s stay order

The Hindu

The Supreme Court on Thursday reserved its judgment on an appeal filed by of U.S.-based creditor Glas Trust Company LLC against a judgment of the National Company Law Appellate Tribunal allowing the ed-tech firm Byju’s to pay a settlement amount of ₹158 crore to the Board of Control for Cricket in India. During back-to-back hearing in the case, the apex …

India Supreme Court Court Bcci Nclat Irp Glas Trust

3 months, 3 weeks ago

Byju's US lenders vs interim resolution professional: Glas Trust not part of insolvency panel

New Indian Express

BENGALURU: Byju's insolvency resolution professional Pankaj Srivastava has removed the edtech company's US-based lender Glas Trust from the committee of creditors. They said no interim resolution professional in the history of the Insolvency and Bankruptcy Code of India has ever attempted to unlawfully strip financial creditors of claims of this magnitude amounting to more than USD 1.35 billion without any …

Trust Bengaluru Insolvency Nclt Bcci Nclat Pankaj

5 months ago

NCLT begins insolvency resolution process against Supertech

Hindustan Times

NOIDA: While admitting a petition of Bank of Punjab & Sind’s petition, the National Company Law Tribunal has begun the corporate insolvency resolution process against Supertech townships projects limited which allegedly defaulted to make payment of a loan that it took from the bank, said an order. In June, 2023, the bank had filed a plea seeking CIRP against the …

Insolvency Resolution Bank Order Projects Process Project

6 months, 1 week ago

Insolvency process begins against Supertech Goup’s Supernova project in Noida

Hindustan Times

The National Company Law Tribunal has initiated corporate insolvency resolution process against Supertech Group’s subsidiary Supertech Realtors Private Limited, which is developing a commercial tower at the Supernova project in Noida, Sector 94, after it failed to pay a debt of ₹150 crore to the Bank of Maharashtra, in pursuance to an order issued by the NCLT on June 12. …

Corporate Insolvency Bank Supernova Noida Nclt Tower Irp

7 months, 3 weeks ago

Noida authority in high court to delay registry at Lotus 300 till dues are paid

Hindustan Times

The Noida authority has filed a review petition before the Allahabad high court challenging its earlier order that directed that registry of apartments in Lotus 300 housing project in Sector 107, Noida, be executed without further delay. The authority has expressed its inability to issue permission for registry as land cost dues amounting to ₹ 166 crore is still pending …

High Court Court Project Noida Dues 300 Lotus

8 months, 1 week ago

NCLAT Chennai Stays Insolvency proceedings Against Charter Aircraft Service Provider 'Deccan Charters'

Live Law

The National Company Law Appellate Tribunal, Chennai Bench, comprising of Justice M. Venugopal, Justice Sharad Kumar Sharma and Jatindranath Swain, has stayed the insolvency proceedings initiated against Deccan Charters Pvt. On 04.05.2022, the Financial Creditor filed an application under Section 7 of IBC seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor, over a default of Rs. On …

Business Corporate Nclt Nclat Charter Bta Irp

8 months, 2 weeks 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 …

Law India Justice Delhi Mumbai Kolkata Supreme Court

11 months, 3 weeks ago

NCLAT Delhi: Decisions To Liquidate Corporate Debtor By CoC U/S 33(2) Of IBC Must Be With Reasons And Cannot Be Done Arbitrarily

Live Law

The National Company Law Appellate Tribunal, New Delhi Bench comprising of Justice Ashok Bhushan and Mr. Barun Mitra held that decisions of the Committee of Creditors to liquidate under Section 33 of Insolvency and Bankruptcy Code, 2016 have to be with reasons and the liquidation cannot be decided arbitrarily. Background Facts: On 10.08.2023, the Adjudicating Authority admitted the application of …

Corporate Corporate Debtor Nclat Irp Coc Ibc Liquidation

11 months, 3 weeks ago

Yearly Digest Of IBC Cases: 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. 1125 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, has directed the liquidation of the Corporate Debtor, M/s Ajanta …

India Justice Supreme Court Court Resolution Gratuity Chief Justice

1 year, 2 months ago

NCLAT New Delhi: No Point In Discussing An Issue, Even If Issue Is Attractive, After The Closure Of CIRP Proceedings

Live Law

The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising of Justice Rakesh Kumar Jain and Naresh Salecha, dismissed the appeal filed in State Bank of India vs. Ritesh Prakash Adatiya & Ors. The appeal was filed against the order dated 29.03.2023 passed by the National Company Law Tribunal Kolkata whereby an application by the IRP of McLeod Russel …

Corporate Corporate Debtor Order Issue Nclat Irp Cirp

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, …

Law Delhi Corporate Insolvency National Corporate Debtor Title

1 year, 4 months ago

NCLT Mumbai Refuses To Admit Belated Claim Of EPFO Submitted Post Approval Of Resolution Plan By The CoC

Live Law

The National Company Law Tribunal, Mumbai Bench, comprising of Shri Kuldip Kumar Kareer and Smt. Anuradha Sanjay Bhatia, while adjudicating an application filed in Small Industrial Development Bank of India v E & G Global Estates Limited, has refused to admit the claim of Employee Provident Fund Organization, which was submitted belatedly after the approval of resolution plan by the …

Corporate Resolution Corporate Debtor Applicant Claims Provident Fund Resolution Plan

1 year, 4 months ago

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations

Live Law

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Mahendra Khandelwal and Shri Rahul Bhatnagar, while adjudicating a petition filed by Go Airlines Limited, has permitted Go Airlines to operate the leased aircrafts in order to maintain the company’s status as a going concern. Accordingly, the Lessors filed an application under Section 60 of IBC before the NCLT …

Corporate Aircraft Airlines Order Nclt Bench Irp

1 year, 5 months ago

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First

Live Law

The Delhi High Court will hear on Monday the challenge against a single judge order permitting various lessors to carry out inspection and interim maintenance tasks of their aircrafts, which are currently on lease with crisis-hit Go First airline, twice a month until final disposal of their pleas to de-register their planes from the airline.Senior Advocate Sandeep Sethi mentioned the. …

Court Aircraft Delhi High Court Lease Nclt Limited Irp

1 year, 5 months ago

S.220 IBC | Prima Facie Disciplinary Committee Can Consist Only Of Whole Time Members: Bombay High Court Stays Insolvency Professional's Suspension

Live Law

The Bombay High Court has stayed the suspension of registration of Insolvency Professional Kairav Anil Trivedi, who is accused of misrepresentation and entering into unauthorised agreement in a Corporate Insolvency Resolution Process. On May 23, 2023, the disciplinary committee had passed an order signed by Ravi Mital, IBBI Chairman, suspending Trivedi’s registration for six months. The court said that prima …

Insolvency Disciplinary Committee Appointed Professional Irp Prima Facie

1 year, 7 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 …

Insolvency Order Nclt Nclat Irp Lessors Nclt Order

1 year, 7 months ago

NCLT initiates insolvency proceedings for Go First

Hindustan Times

The National Company Law Tribunal on Wednesday admitted Go First’s voluntary plea under the Insolvency and Bankruptcy Code and awarded the airline bankruptcy protection. Go First has suspended sale of tickets till May 15 The airline had last week filed for insolvency resolution proceedings in the NCLT while also announcing the suspension of the sale of tickets till May 15. …

Insolvency Aircraft Company Crore Airline Nclt Proceedings

1 year, 7 months ago

NCLT admits Go First insolvency plea, puts it under moratorium

Business Standard

The NCLT has appointed Abhilash Lal of Alvarez and Marsal interim resolution professional to take charge of the airline. The tribunal said the professional should ensure that employees of the airline were not laid off The Delhi Bench of the National Company Law Tribunal on Wednesday accepted Go First’s insolvency plea, resulting in the airline being put under a moratorium …

Aviation Insolvency Order Tribunal Airline Nclt Moratorium

1 year, 8 months ago

Interest Bearing Refundable Advance Paid Under An MoU Which Has Lost Legal Force Can Still Be Categorized As Financial Debt: NCLT Ahmedabad

Live Law

The National Company Law Tribunal, Ahmedabad bench comprising of Dr. Madan B Gosavi and Mr. Ajai Das Mehrotra, while adjudicating an application under Section 60 of Insolvency and Bankruptcy Code, 2016 in Sheth Developers Pvt Ltd & Anr. as ‘Financial Debt’ Background Facts: Golden Tobacco Ltd. entered into an MoU dated 26.12.2009 with Sheth Developers Pvt. Further, there are differences …

Corporate Financial Corporate Debtor Debt Interest Tribunal Nclt

1 year, 8 months ago

Replacement Of RP As Per Section 27 Is Complete When The Resolution Is Passed With 66% Voting Share: NCLT Allahabad

Live Law

The National Company Law Tribunal, Allahabad Bench, comprising of Shri Praveen Gupta and Shri Ashish Verma, while adjudicating an application under Section 27 read with Section 60 of Insolvency and Bankruptcy Code, 2016 in M/s Mahajagdamba Tubes Pvt. Ltd. vs M/s Quality Steels Product Limited has held that replacement of a Resolution Professional is complete as per the scheme of …

Resolution Tribunal Professional Irp Replacement Coc Ibc

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Articles for Irp, search results for order

NBCC to take over Supertech Limited projects following NCLAT order

NCLAT appoints NBCC as consultant to complete Supertech's 16 housing projects in UP, Uttarakhand, Haryana and Karnataka

Since Shareholders Of Corporate Debtor Do Not Fall Within Definition Of “Aggrieved Party”, Appeal Filed U/S 61 Of IBC Not Maintainable: NCLAT

Raheja Developers moves NCLAT against insolvency

Byju’s insolvency case: Supreme Court reserves judgment on challenge to NCLAT’s stay order

Byju's US lenders vs interim resolution professional: Glas Trust not part of insolvency panel

NCLT begins insolvency resolution process against Supertech

Insolvency process begins against Supertech Goup’s Supernova project in Noida

Noida authority in high court to delay registry at Lotus 300 till dues are paid

NCLAT Chennai Stays Insolvency proceedings Against Charter Aircraft Service Provider 'Deccan Charters'

IBC Cases Quarterly Digest : January To March 2024

NCLAT Delhi: Decisions To Liquidate Corporate Debtor By CoC U/S 33(2) Of IBC Must Be With Reasons And Cannot Be Done Arbitrarily

Yearly Digest Of IBC Cases: 2023

NCLAT New Delhi: No Point In Discussing An Issue, Even If Issue Is Attractive, After The Closure Of CIRP Proceedings

Weekly Digest Of IBC Cases: 4th To 10th September 2023

NCLT Mumbai Refuses To Admit Belated Claim Of EPFO Submitted Post Approval Of Resolution Plan By The CoC

Go Airlines| NCLT Delhi Permits Go Airlines To Resume Operations

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First

S.220 IBC | Prima Facie Disciplinary Committee Can Consist Only Of Whole Time Members: Bombay High Court Stays Insolvency Professional's Suspension

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

NCLT initiates insolvency proceedings for Go First

NCLT admits Go First insolvency plea, puts it under moratorium

Interest Bearing Refundable Advance Paid Under An MoU Which Has Lost Legal Force Can Still Be Categorized As Financial Debt: NCLT Ahmedabad

Replacement Of RP As Per Section 27 Is Complete When The Resolution Is Passed With 66% Voting Share: NCLT Allahabad