rupee resolution value national week went evergrandes operations group retail dissolution title systems offshore weekly airways kong airline cirp deal credit kumar admitted authority sale dollar investors corporate land major

Articles for Liquidation, search results for corporate

Secured Creditor Is Liable To Pay Liquidator's Fees Under Rule 21A Of Liquidation Regulations If Option U/S 52 Of IBC Is Exercised: NCLAT
1 week, 5 days ago

Secured Creditor Is Liable To Pay Liquidator's Fees Under Rule 21A Of Liquidation Regulations If Option U/S 52 Of IBC Is Exercised: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that the fee of the liquidator has to be paid within 90 days from the liquidation commencement date as provided under Regulation 21A of the Liquidation Regulations if the secured creditor opts to realise its security interest under section 52 of the code. Observations: …

Regulation Regulations Pay Case Respondent Fee Asset
Only Assets Are Transferred In Going Concern Sale Of Corporate Debtor Under Liquidation, Liabilities Must Be Settled U/S 53 Of IBC: NCLT Mumbai
3 weeks, 6 days ago

Only Assets Are Transferred In Going Concern Sale Of Corporate Debtor Under Liquidation, Liabilities Must Be Settled U/S 53 Of IBC: NCLT Mumbai

Live Law  

The NCLT Mumbai bench of Ms. Reeta Kohli and Ms. Madhu Sinha has held that in a sale of the corporate debtor in liquidation as a going concern, only assets are transferred and liabilities have to be discharged as per section 53 of the Code. It is thus incumbent upon us to rely upon the law settled by the Hon'ble …

Corporate Sale Corporate Debtor Assets Statutory Nclt Going
NCLT Is Not Right Forum To Decide Whether Closure Of Factory Under Industrial Dispute Act Was As Per Law: NCLAT
4 weeks, 1 day ago

NCLT Is Not Right Forum To Decide Whether Closure Of Factory Under Industrial Dispute Act Was As Per Law: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that the Adjudicating Authority is not the right forum to decide whether closure of the factory was in accordance with law. Liquidator vide e-mail dated 25.02.2019 asked the Appellants to submit the proof of employment in the company in the period of two years …

Corporate Dispute Factory Closure Industrial Claims Appellants
Sale Of Corporate Debtor As Going Concern Under Liquidation Regulations Takes Precedence Over Scheme Of Compromise U/S 230: NCLAT
1 month, 1 week ago

Sale Of Corporate Debtor As Going Concern Under Liquidation Regulations Takes Precedence Over Scheme Of Compromise U/S 230: NCLAT

Live Law  

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 Corporate Debtor as a going concern will have precedence, rather than resorting to the Scheme of Compromise …

Corporate Regulations Sale Corporate Debtor Process Tribunal Nclt
Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan
1 month, 2 weeks ago

Supreme Court Orders Liquidation Of Jet Airways On Failure Of Resolution Plan

Live Law  

The Supreme Court invoked its extraordinary powers under Article 142 of the Constitution to order the liquidation of Jet Airways in view of the "peculiar and alarming" circumstance that the resolution plan has not been implemented for five years.The Court set aside the NCLAT Order which allowed the cash-strapped Jet Airways' ownership transfer to the Successful Resolution Applicant. The Court …

Court Resolution Resolution Plan Plan Crores Supreme Airways
Jet Airways grounded for good as Supreme Court orders liquidation
1 month, 2 weeks ago

Jet Airways grounded for good as Supreme Court orders liquidation

India Today  

The Supreme Court's ruling on November 7 to liquidate Jet Airways effectively closed the chapter on attempts to revive the once-prominent Indian airline. With Jet Airways grounded since 2019 due to financial distress, the court's decision highlights the challenges surrounding corporate recoveries within India’s aviation sector. The court also set aside the National Company Law Appellate Tribunal order, which allowed …

India Supreme Court Court Supreme Nclat Airways Jet
Liquidation Is Last Resort, Broader Public Interest In Resolving Corporate Insolvency Should Be Taken Into Account: NCLT Kolkata
4 months, 2 weeks ago

Liquidation Is Last Resort, Broader Public Interest In Resolving Corporate Insolvency Should Be Taken Into Account: NCLT Kolkata

Live Law  

The National Company Law Tribunal Kolkata bench of Bidisha Banerjee and Balraj Joshi has held that the liquidation of a corporate debtor should be a measure of last resort. Five applicants expressed their interest in the Corporate Debtor: Trenchless Engineering Services Private Limited, Lumino Industries Ltd, Mount Intra Finance Private Limited, Navneet Garg, and Mideast Pipeline Products. On February 20, …

Corporate Resolution Interest Resolution Plan Plan Pvt Offer
Directing Corporate Debtor To Civil Courts Or Arbitration For Admitted Dues Undermines IBC Objectives: NCLT Mumbai
4 months, 3 weeks ago

Directing Corporate Debtor To Civil Courts Or Arbitration For Admitted Dues Undermines IBC Objectives: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai bench of Kuldip Kumar Kareer and Anil Raj Chellan had held that directing Corporate Debtor to seek resolution through civil courts or arbitration for even admitted dues would undermine the objectives of the Insolvency and Bankruptcy Code. The Corporate Insolvency Resolution Process was initiated against the Corporate Debtor by the National Company Law Tribunal, …

Mumbai Corporate Insolvency Corporate Debtor Process Respondent Nclt
Half Yearly Digest Of IBC Cases : January To June,2024
5 months, 1 week 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 …

India Real Estate Justice Delhi Mumbai Supreme Court High Court
CoC Is Empowered To Liquidate Corporate Debtor Any Time After It's Constitution Or Before Resolution Plan Is Confirmed: NCLT Delhi
6 months, 1 week ago

CoC Is Empowered To Liquidate Corporate Debtor Any Time After It's Constitution Or Before Resolution Plan Is Confirmed: NCLT Delhi

Live Law  

The National Company Law Tribunal Court V, New Delhi bench of Mahendra Khandelwal and Dr Sanjeev Ranjan has held that CoC in the legislative scheme of the Insolvency and Bankruptcy Code, 2016 is empowered to take the decision to liquidate the Corporate Debtor, any time after its constitution and before confirmation of the resolution plan. Radhey Shyam Yadav approached the …

Corporate Resolution Corporate Debtor Nclt Liquidator Coc Liquidation
NCLT Hyderabad Holds Port Authority Officers Guilty Of Contempt Of Court, Imposes Month Imprisonment And Fine
6 months, 4 weeks ago

NCLT Hyderabad Holds Port Authority Officers Guilty Of Contempt Of Court, Imposes Month Imprisonment And Fine

Live Law  

The National Company Law Tribunal Hyderabad, comprising Justice Rajeev Bhardwaj and Mr. Sanjay Puri held Mr. Ravi Kiran Saladi Konda, Deputy Traffic Manager, New Mangalore Port Authority and Mr. Sriman Nayan Mishra, Senior Assistant Traffic Manager, Paradip Port Authority guilty of contempt for disobeying the directions of the Adjudicating Authority and sentenced them to simple imprisonment of 1 month each …

Hyderabad Corporate Court Customs Order Port Tribunal
During Pendency Of Liquidation Application, NCLT Kolkata Directs CoC To Re-Vote On Promoter's Rejected Resolution Plan, Since Plan Value Has Been Increased
9 months, 3 weeks ago

During Pendency Of Liquidation Application, NCLT Kolkata Directs CoC To Re-Vote On Promoter's Rejected Resolution Plan, Since Plan Value Has Been Increased

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Smt. Subsequently, the Resolution Professional filed an application before NCLT seeking liquidation of Corporate Debtor since the CIRP had exceeded the 330 days period. During the pendency of the application seeking liquidation, the Promoter submitted two unsolicited addendums to the previously submitted resolution plan. The Promoter filed an application before the …

Corporate Resolution Corporate Debtor Resolution Professional Resolution Plan Plan Nclt
IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation
9 months, 3 weeks ago

IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation

Live Law  

The Insolvency and Bankruptcy Board of India has issued a circular dated 13.02.2024, intimating that when a Financial Service Provider undergoes voluntary liquidation under IBC, then the Liquidator shall declare that: the category of Financial Service Providers has been notified by the Central Government under Section 227 of IBC, and the corporate person has obtained prior permission from the appropriate …

Financial Service Provider Liquidator Ibc Ibbi Prior Permission
During Pendency Of Liquidation Application, NCLT Kolkata Directs CoC To Re-Vote On Promoter's Rejected Resolution Plan, Since Plan Value Has Been Increased
10 months ago

During Pendency Of Liquidation Application, NCLT Kolkata Directs CoC To Re-Vote On Promoter's Rejected Resolution Plan, Since Plan Value Has Been Increased

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Smt. Subsequently, the Resolution Professional filed an application before NCLT seeking liquidation of Corporate Debtor since the CIRP had exceeded the 330 days period. During the pendency of the application seeking liquidation, the Promoter submitted two unsolicited addendums to the previously submitted resolution plan. The Promoter filed an application before the …

Corporate Resolution Corporate Debtor Resolution Professional Resolution Plan Plan Nclt
NCLT Mumbai Allows Withdrawal Of Liquidation Application On Receipt Of Resolution Plan
10 months, 2 weeks ago

NCLT Mumbai Allows Withdrawal Of Liquidation Application On Receipt Of Resolution Plan

Live Law  

The National Company Law Tribunal Mumbai, comprising Justice Shri. Anil Raj Chellan allowed the withdrawal of the liquidation application since one resolution plan was received by the Committee of Creditors during the pendency of the liquidation application upholding the aim of Insolvency and Bankruptcy, 2016. During the pendency of the liquidation application before NCLT, the Interim Resolution Professional received an …

Corporate Resolution Application Resolution Plan Tribunal Irp Coc
Appeal Under Section 42 Of IBC Would Only Lie Against An 'Adjudicating' Order Of The Liquidator: NCLT Mumbai
10 months, 2 weeks 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 …

Appeal Corporate Corporate Debtor Order Nclt Bench Epfo
NCLAT Delhi: Decisions To Liquidate Corporate Debtor By CoC U/S 33(2) Of IBC Must Be With Reasons And Cannot Be Done Arbitrarily
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
ESI Dues Not At Par With PF, Pension Or Gratuity Dues; Neither Excluded From Liquidation Estate : NCLT Ahmedabad
1 year ago

ESI Dues Not At Par With PF, Pension Or Gratuity Dues; Neither Excluded From Liquidation Estate : NCLT Ahmedabad

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, comprising of Mrs. Chitra Hankare and Dr. Velamur G Venkata Chalapathy, has held that the dues of Employees State Insurance Corporation are not at par with the dues of Provident Fund, Pension Fund or Gratuity Fund under IBC. Section 36 of IBC does not define the dues of ESIC as workmen dues and …

Pension Gratuity Corporate Debtor Operational Creditor Provident Fund Nclt Estate
Failure of Liquidator To Comply With Regulation 45 Of Liquidation Regulations, NCLT Kolkata Rejects Application For Dissolution, Recommends Investigation Against Liquidator
1 year ago

Failure of Liquidator To Comply With Regulation 45 Of Liquidation Regulations, NCLT Kolkata Rejects Application For Dissolution, Recommends Investigation Against Liquidator

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Ms. Bidisha Banerjee and Shri Balraj Joshi, has rejected an application for dissolution of Corporate Debtor since the Liquidator failed to comply with requirements under Regulation 45 of IBBI Regulations 2016. In 2022, the Liquidator filed an application under Section 54 of IBC seeking dissolution of Corporate Debtor. The liquidator shall …

Corporate Corporate Debtor Application Process Bench Liquidator Dissolution
Go First to chase ₹ 12,000 crore with litigation finance
1 year ago

Go First to chase ₹ 12,000 crore with litigation finance

Live Mint  

MUMBAI : Lenders to Go First plan to scout for litigation finance to bring home up to ₹12,000 crore tied up in various lawsuits, two people aware of the development said, as the bankrupt airline stares at likely liquidation. The idea of litigation finance was suggested by Go First’s resolution professional since all the current “parameters are pointing towards liquidation" …

Arbitration Insolvency Resolution Crore Airline Dues Person
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 …

Order Tribunal Nclt Sebi Claim Liquidator Ibc
Top 10 Insolvency Law Judgements [April To September 2023]
1 year, 2 months ago

Top 10 Insolvency Law Judgements [April To September 2023]

Live Law  

In recent times, several noteworthy judgments have been rendered by the Indian Courts and Tribunals in matters relating to the Insolvency and Bankruptcy Code, 2016. M. Suresh Kumar Reddy v. Canara Bank Supreme Court of India Citation: 2023 LiveLaw 428 The Adjudicating Authority has no option but to admit a petition filed under Section 7 of the Insolvency and Bankruptcy …

Law Appeal Court Insolvency Resolution Corporate Debtor Indian
Dissenting Financial Creditor Entitled To Liquidation Value Commensurate Only With Security Interest: NCLT Delhi
1 year, 5 months ago

Dissenting Financial Creditor Entitled To Liquidation Value Commensurate Only With Security Interest: NCLT Delhi

Live Law  

The National Company Law Tribunal, Principal Bench, comprising of Chief Justice Ramalingam Sudhakar and Shri Avinash K Srivastava, while adjudicating a petition filed in the matter ofM/s. Ltd.,has held that a co-joint reading of Sections 52, 53 and 30 of IBC reveals that a Dissenting Financial Creditor is at best entitled to the liquidation value commensurate with its security interest. …

Security Corporate Financial Resolution Corporate Debtor Interest Plan
IBC Overrides Electricity Act; Dues To Secured Creditors At Higher Footing Than Electricity Dues : Supreme Court
1 year, 5 months ago

IBC Overrides Electricity Act; Dues To Secured Creditors At Higher Footing Than Electricity Dues : Supreme Court

Live Law  

The Supreme Court observed that Section 238 of the Insolvency and Bankruptcy Code overrides the provisions of the Electricity Act, 2003.The provisions of the IBC treat the dues payable to secured creditors are at a higher footing than dues payable to Central or State Government, the bench of Justices S. Ravindra Bhat and Dipankar Datta said.In this case, National Company …

Supreme Court Court State Dues Debts Provisions Owed