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Once CoC Approves Resolution Plan Then No Claim Is To Be Entertained: NCLAT
13 hours, 42 minutes ago

Once CoC Approves Resolution Plan Then No Claim Is To Be Entertained: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Rakesh Kumar Jain, Mr. Barun Mitra and Mr. Indevar Pandey have reiterated that once the Committee of Creditor has approved the resolution plan, then no claim is to be entertained. Counsel for the Respondent stated that IBC is a time-bound process and drew attention to the case of M/s RPS Infrastructure Ltd. vs. …

Claims Resolution Plan Tribunal Claim Irp Sra Appellant
Approval Of Resolution Plan By CoC Cannot Be Interfered With Unless Section 30(2) Of Code Is Breached: NCLAT
2 weeks, 2 days ago

Approval Of Resolution Plan By CoC Cannot Be Interfered With Unless Section 30(2) Of Code Is Breached: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that approval of Resolution Plan by the Committee Of Creditors cannot be interfered with unless it is violative of section 30 of the Code. It further argued that SRA has not implemented the Resolution Plan and matter is pending consideration before the Adjudicating Authority therefore this …

Corporate Resolution Resolution Plan Tribunal Plan Code Authority
State appoints 5-member panel to remove encroachments on HC land in Bandra East
3 months, 2 weeks ago

State appoints 5-member panel to remove encroachments on HC land in Bandra East

Hindustan Times  

Mumbai: In a move to accelerate the process of the construction of the new Bombay high court building, the state has set up a five-member committee of top officials to resolve the issue of encroachments on the 30-acre land parcel in Bandra East. “The committee will investigate the matters related to the encroachments on 30.16 acres of land given to …

Land Committee Encroachments Bandra Sra
Slum Rehabilitation Scheme Not To Be Seen As Real Estate Development Project, It's Linked To Right To Life: Supreme Court
4 months, 3 weeks ago

Slum Rehabilitation Scheme Not To Be Seen As Real Estate Development Project, It's Linked To Right To Life: Supreme Court

Live Law  

A Supreme Court bench of Justices PS Narasimha and Aravind Kumar has held slum rehabilitation scheme cannot be viewed as a real estate development project because “there is a public purpose involved, and that is inextricably connected to the right to life of some of our brothers and sister citizens who are living in pathetic conditions”. The Supreme Court has …

Supreme Court Development Project Act Authority Sra Appellant
NCLAT Upholds Suraksha Realty's Resolution Plan For Jaypee Infratech, Directs Additional ₹1,334 Crore Payment To YEIDA
6 months, 3 weeks ago

NCLAT Upholds Suraksha Realty's Resolution Plan For Jaypee Infratech, Directs Additional ₹1,334 Crore Payment To YEIDA

Live Law  

The National Company Law Appellate Tribunal confirmed the resolution plan proposed by Suraksha Realty Limited for Jaypee Infratech Limited as part of its Corporate Insolvency Resolution Process. The NCLAT's bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, held that Suraksha Realty must pay ₹1,334.31 crore to YEIDA over the next four years. Consequently, YEIDA was held to …

Resolution Resolution Plan Held Plan Nclt Nclat Additional
BKC police book HDIL, Rakesh Wadhawan in two fresh cases
11 months, 2 weeks ago

BKC police book HDIL, Rakesh Wadhawan in two fresh cases

Hindustan Times  

MUMBAI: The Bandra-Kurla Complex police on Wednesday booked the controversy-stricken construction company Housing Development and Infrastructure Ltd and its promoter Rakesh Wadhawan in two cases of cheating and criminal conspiracy. They told the court and the police that they never signed any sale deeds, affidavits and powers of attorney that were produced by the company’s representatives to the SRA during …

Bkc Sra Hdil Fariduddin Rakesh Wadhawan
NCLT Mumbai: Financial Creditor Can't Initiate CIRP Against Successful Resolution Applicant On Default Of Payment As Per Resolution Plan
11 months, 2 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
Bombay High Court Monthly Digest: December 2023
11 months, 3 weeks ago

Bombay High Court Monthly Digest: December 2023

Live Law  

Nominal Index The Hongkong and Shanghai Banking Corporation v. UoI 2023 LiveLaw 553 Shonali Kedar Dighe v. Ashita Tham and Ors. Juvenile Justice Act 2015 | No Insistence On DOB Certificate From First School Attended To Determine Juvenility Of Accused: Bombay High Court Case Title: Tohid Rehman Shaikh v. State of Maharashtra Citation: 2023 LiveLaw 614 An accused claiming to …

India Justice Mumbai High Court Court Maharashtra Bombay High Court
Bombay High Court Weekly Round-up: December 25, 2023 To December 31, 2023
11 months, 3 weeks ago

Bombay High Court Weekly Round-up: December 25, 2023 To December 31, 2023

Live Law  

Nominal Index Gemini Developers v. State of Maharashtra & Ors. 2023 LiveLaw 619 Reports/Judgments Additional Fees For Changing Slum Developer's Structure Not Applicable When Owner Inducts Legal Heirs As Partners: Bombay High Court Case Title: Gemini Developers v. State of Maharashtra & Ors. Juvenile Justice Act 2015 | No Insistence On DOB Certificate From First School Attended To Determine Juvenility …

Court Bombay High Court Title State High Fir 2023
Arcelormittal’s Resolution Plan For Essar Steel, A Creditor Files Recall Application ; NCLT Ahmedabad Issues Notice
1 year, 1 month ago

Arcelormittal’s Resolution Plan For Essar Steel, A Creditor Files Recall Application ; NCLT Ahmedabad Issues Notice

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, comprising of Shri Shammi Khan and Dr. Velamur G Venkata Chalapathy, has issued notice in an application seeking recall of the order dated 08.03.2019 whereby the resolution plan of ArcelorMittal India Pvt. The Applicants are creditors of Essar Steels India Ltd., who have alleged that the plan approval order was obtained by casting …

India Resolution Corporate Debtor Order Steel Plan Nclt
Fire in one more SRA building, two injured
1 year, 1 month ago

Fire in one more SRA building, two injured

Hindustan Times  

MUMBAI: Two persons sustained injuries on Thursday after a Level 1 fire broke out in Sahyadri, a Slum Rehabilitation Authority building at Pant Nagar, Ghatkopar East. Fire in one more SRA building, two injured Flat No 403 on the fourth floor of the 11-storey building caught fire at around 1 pm and was extinguished at 1.53 pm. “The primary reason …

Building Nirmala Sra
RP Can Obtain MSME Certificate For The Corporate Debtor Only To Avail Business Advantage Available Under MSMED Act, 2006: NCLT Delhi
1 year, 2 months ago

RP Can Obtain MSME Certificate For The Corporate Debtor Only To Avail Business Advantage Available Under MSMED Act, 2006: NCLT Delhi

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Ashok Kumar Bhardwaj and Shri L.N. Gupta, while adjudicating a petition filed in M/s Hi-Tech Resource Management Limited v M/s Overnite Express Limited, has held that a Resolution Professional can obtain a Micro, Small and Medium Enterprises certificate for the Corporate Debtor only for availing business advantage under the …

Business Corporate Management Resolution Corporate Debtor Resolution Professional Plan
NCLT Mumbai Approves Resolution Plan For Lavasa Corporation; Homebuyers Can Opt For Completed Units
1 year, 5 months ago

NCLT Mumbai Approves Resolution Plan For Lavasa Corporation; Homebuyers Can Opt For Completed Units

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Shri Kuldip Kumar Kareer and Shri Shyam Babu Gautam, while adjudicating a petition filed in the matter of Raj Infrastructure Development India Pvt. Ltd. v Lavasa Corporation Limited, has approved the resolution plan of Darwin Platform Infrastructure Limited for Lavasa Corporation Limited and its four subsidiaries. Treatment Of Homebuyers The Resolution …

Infrastructure Construction Resolution Homebuyers Resolution Plan Plan Nclt
Homebuyers of 'Lotus Aren 1' Noida Are Given Flats In Lieu Of Their Claims, Approves Resolution Plan: NCLAT Delhi
1 year, 5 months ago

Homebuyers of 'Lotus Aren 1' Noida Are Given Flats In Lieu Of Their Claims, Approves Resolution Plan: NCLAT 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 of M/s. Dhankalash Distributors Private Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process against the Corporate Debtor. Ltd. submitted a Resolution …

Corporate Resolution Plan Noida Nclt Crores Pvt
NCLT Approves Plan For Galada Power And Telecommunications Ltd.: NCLT Hyderabad
1 year, 6 months ago

NCLT Approves Plan For Galada Power And Telecommunications Ltd.: NCLT Hyderabad

Live Law  

The National Company Law Tribunal, Hyderabad Bench, comprising of Shri Dr. N. V. Rama Krishna Badarinath and Shri Satya Ranjan Prasad, while adjudicating a petition filed in Stressed Assets Stabilisation Fund, Mumbai vs. M/s. Stressed Assets Stabilisation Fund filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process against the …

Hyderabad Corporate Telecommunications Resolution Power Plan Nclt
IBC- Once Resolution Plan Is Approved, No Modifications Are Permissible : Supreme Court
1 year, 9 months ago

IBC- Once Resolution Plan Is Approved, No Modifications Are Permissible : Supreme Court

Live Law  

The Supreme Court has held that the declaration made by the NCLT to the effect that the trademarks “Deccan Chronicle” and “Andhra Bhoomi”, which originally belonged to Deccan Chronicle Holdings Ltd., continues to be under the ownership of DCHL post the approval of resolution plan, would amount to impermissible modification of resolution plan as the same was silent on this …

Supreme Court Corporate Resolution Resolution Plan Plan Nclt Bench
NCLT approves Suraksha group’s plan to take over Jaypee Infratech
1 year, 9 months ago

NCLT approves Suraksha group’s plan to take over Jaypee Infratech

Hindustan Times  

The National Company Law Tribunal on Tuesday approved the resolution plan and bid by Mumbai based Suraksha Realty Limited and Lakshdeep Investments to take over debt-ridden realty company Jaypee Infratech Limited, thereby reigniting the hopes of thousands of aggrieved homebuyers of getting their dream homes soon. Since 2017, the Supreme Court monitored NCLT has been hearing the corporate insolvency resolution …

Resolution Order Plan Noida Nclt Sra Coc
Partial Payment Of PF & Gratuity Dues Violative Of Section 30(2)(E) Of IBC: NCLAT Chennai Reiterates
1 year, 10 months ago

Partial Payment Of PF & Gratuity Dues Violative Of Section 30(2)(E) Of IBC: NCLAT Chennai Reiterates

Live Law  

The National Company Law Appellate Tribunal, Chennai Bench, comprising of Justice M. Venugopal and Ms. Shreesha Merla, while adjudicating an appeal filed in Mrs. C.G. The Bench held that the approved resolution plan violated Section 30 of IBC, by paying only 35.13% of the PF and Gratuity dues and thus treating the workmen/employees as Secured Creditors. Contention Of Appellants The …

Corporate Resolution Gratuity Payment Provident Fund Resolution Plan Tribunal
On A Request Made By CoC, NCLT Is Empowered To Remand Back Resolution Plan To CoC For Re-Consideration: NCLT Ahmedabad
2 years, 3 months ago

On A Request Made By CoC, NCLT Is Empowered To Remand Back Resolution Plan To CoC For Re-Consideration: NCLT Ahmedabad

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Dr. Deepti Mukesh and Shri Ajai Das Mehrotra, while adjudicating an application filed in Asset Reconstruction Company Limited v GPT Steel Industries Ltd., has held that Adjudicating Authority has right to send back the resolution plan for reconsideration to the CoC, on a request made by the CoC in its commercial …

Resolution Plan Nclt Authority Sra Coc Cirp Adjudicating
'Indian Judicial Processes Cannot Be Taken For A Ride': NCLT Kolkata
2 years, 7 months ago

'Indian Judicial Processes Cannot Be Taken For A Ride': NCLT Kolkata

Live Law  

The National Company Law Tribunal, Kolkata Bench, comprising of Shri Rajasekhar V.K. and Shri Balraj Joshi, while adjudicating an interim application filed in Beni Gopal Singhi v EMC Ltd., has held that the affidavit filed by the Successful Resolution Applicant was impudent and seems to assume that the judicial authorities in India cannot understand anything beyond the limited territorial jurisdiction …

India Information Resolution Judicial Resolution Plan Plan Nclt