chief value power violative crores promotersuspended taken stalled suit pvt law dhfl provisions ahmedabad building submit supreme baldoni homebuyers cirp property ibc documents nod bombay project creditor hc homes bench

Articles for Sra, search results for corporate

Once CoC Approves Resolution Plan Then No Claim Is To Be Entertained: NCLAT
13 hours, 12 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
Copy Of Other Prospective Resolution Applicants' Plans Cannot Be Shared When Suspended Management Is Also A Resolution Applicant: NCLAT
5 days, 6 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
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
Allotment Of Commercial Space By Corporate Debtor Through Unregistered Allotment Letter Remains Their Asset, Can't Be Excluded From Resolution Plan: NCLAT
1 month ago

Allotment Of Commercial Space By Corporate Debtor Through Unregistered Allotment Letter Remains Their Asset, Can't Be Excluded From Resolution Plan: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that allotment of commercial spaces by the corporate debtor through unregistered documents like allotment letter, lease deed etc.cannot divest the CD of their ownership. That the Appellant-Nupur Garg, having been allotted commercial space, with regard to which, Lease Deed was also executed by the CD and …

Space Resolution Corporate Debtor Commercial Commercial Space Resolution Plan Tribunal
NCLAT Orders Refund Of Pre-CIRP Electricity Dues Paid By SRA Under Protest For Restoration Of Electricity Connection
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
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
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
Madras High Court: Clean State Theory Only Protects Third-Party Successful Resolution Applicant And Not Suspended Board Of Corporate Debtor From Future Claims
6 months, 1 week ago

Madras High Court: Clean State Theory Only Protects Third-Party Successful Resolution Applicant And Not Suspended Board Of Corporate Debtor From Future Claims

Live Law  

The Madras High Court bench of Justice N. Seshasayee held that the Clean State Theory only protects the third party – Successful Resolution Applicant and not the suspended board of the Corporate Debtor from uncertainties of future claims. The High Court remarked: “It should not be forgotten that CST is a judicial coinage to protect the third party-successful resolution-applicant from …

High Court Future Corporate Board Resolution Corporate Debtor State
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
NCLAT Delhi: Non-Grant Of Reliefs And Concessions By NCLT Does Not Have Any Adverse Effect On The Validity Of The Resolution Plan And Is Not Violative Of The Law
9 months, 2 weeks ago

NCLAT Delhi: Non-Grant Of Reliefs And Concessions By NCLT Does Not Have Any Adverse Effect On The Validity Of The Resolution Plan And Is Not Violative Of The Law

Live Law  

The National Company Law Appellate Tribunal Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra held that non-grant of any reliefs and concessions by NCLT does not have any adverse effect on the validity of the Resolution Plan and is not a violation of the law. JAL and Manoj Gaur erstwhile Managing Director and personal guarantor of Corporate Debtor's loan …

Law Delhi Corporate Resolution Plan Nclt Nclat
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
NCLT Mumbai Approves Resolution Plan For Topworth Steel & Power Pvt. Ltd., A Topworth Group Company
1 year, 2 months ago

NCLT Mumbai Approves Resolution Plan For Topworth Steel & Power Pvt. Ltd., A Topworth Group Company

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Justice V.G. Bisht and Shri Prabhat Kumar, while adjudicating a petition filed in State Bank of India v Topworth Steel and Power Private Ltd., has approved the Resolution Plan submitted by Amalgam Steel and Power Ltd. for Topworth Steel and Power Pvt. The SRA submitted a Resolution Plan for the Corporate …

Corporate Resolution Power Steel Plan Nclt Crores
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
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
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
NCLT Hyderabad Approves The Resolution Plan Of Jindal Saw Ltd. For Sathavahana Ispat Ltd.
1 year, 7 months ago

NCLT Hyderabad Approves The Resolution Plan Of Jindal Saw Ltd. For Sathavahana Ispat Ltd.

Live Law  

The National Company Law Tribunal, Hyderabad Bench, comprising of Dr. Venkata Ramakrishna Badarinath Nandula and Shri Charan Singh, while adjudicating a petition filed in M/s Thirumala Logistics v M/s Sathavahana Ispat Limited, has approved the resolution plan of Jindal Saw Limited for Sathavahana Ispat Limited. The approved Resolution Plan proposes to merger of Jindal Saw Ltd. for Sathavahana Ispat Ltd. …

Corporate Resolution Corporate Debtor Resolution Plan Plan Nclt Shri
Claim For Pre-CIRP Dues Not Been Filed, Electricity Department Not Entitled To Recover Such Dues Or To Disconnect Electricity: NCLAT Delhi
1 year, 8 months ago

Claim For Pre-CIRP Dues Not Been Filed, Electricity Department Not Entitled To Recover Such Dues Or To Disconnect Electricity: 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 Swastik Aqua Ltd. & Anr. v Jharkhand Bijli Vitran Nigam Ltd. & Anr., has held that if the Electricity Department does not file any claim for its pre-CIRP electricity dues, then it is neither entitled to recover …

Corporate Electricity Resolution Corporate Debtor Period Dues Filed
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
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 Approval Of Plan By MSME Directors, They Will Be Treated As New Owners: NCLT Mumbai
2 years, 2 months ago

On Approval Of Plan By MSME Directors, They Will Be Treated As New Owners: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Justice P.N. Ltd., has held that once the resolution plan submitted by MSME Corporate Debtor's promoters/directors is approved by the Adjudicating Authority, the ownership of the Corporate Debtor shall be considered as fresh, even if the directors/promoters remain the same. Therefore, the SRA filed an application against Union Bank of India …

Corporate Resolution Corporate Debtor Current Account Plan Nclt Owners
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
NCLAT Nod To Roma Unicon Designex Consortium As The Successful Resolution Applicant Of Earth Infrastructure Ltd.
2 years, 7 months ago

NCLAT Nod To Roma Unicon Designex Consortium As The Successful Resolution Applicant Of Earth Infrastructure Ltd.

Live Law  

The National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Ms. Shreesha Merla and Dr. Alok Srivastava, recently adjudicated an appeal filed by a Financial Creditor in Bipin Sharma v Earth Infrastructure Ltd. & Anr., challenging the eligibility of the Successful Resolution Applicant, Roma Unicon Designex Consortium, under Section 29A of the Insolvency and Bankruptcy Code, 2016. …

Supreme Court Appeal Corporate Financial Resolution Supreme Court Judgment Resolution Plan