Articles for Suspended Directors

IBC Cases Quarterly Digest : January To March 2024
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
Monthly Digest Of IBC Cases: January 2024
10 months, 3 weeks ago

Monthly Digest Of IBC Cases: January 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 …

India Justice Corporate Insolvency Resolution National Corporate Debtor
Suspended Directors Can't Transfer Amount From Corporate Debtor's Account During Stay On CIRP, NCLT Mumbai Directs Refund
11 months, 2 weeks ago

Suspended Directors Can't Transfer Amount From Corporate Debtor's Account During Stay On CIRP, NCLT Mumbai Directs Refund

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising of Ms. Reeta Kohli and Shri Sanjiv Dutt, has held that Suspended Directors of Corporate Debtor cannot transfer amounts from the Corporate Debtor's account while there is a stay on CIRP. The NCLAT stayed the CIRP and before vacation of stay the Suspended Directors transferred certain amounts from the Corporate Debtor's account …

Corporate Corporate Debtor Order Resolution Professional Nclt Bench Nclat
NCLT Chandigarh: Suspended Directors Have No Vested Right In The Removal Of Liquidator
1 year, 3 months ago

NCLT Chandigarh: Suspended Directors Have No Vested Right In The Removal Of Liquidator

Live Law  

The National Company Law Tribunal, Chandigarh comprising of Mr. Harnam Singh Thakur and Mr. Subrata Kumar Dash dismissed an application filed by Kulwinder Singh Makhni for the removal of Mr. Sanjay Kumar Aggarwal and for appointment of a new Liquidator of the Corporate Debtor. It held that the suspended director does not have the authority to recommend the liquidator's removal …

Corporate Fir Removal Liquidator Ibbi Scc Suspended Directors
Can't Interfere With COC'S Decision Not To Pay Suspended Directors For Their Services During CIRP: NCLT Ahmedabad
2 years, 1 month ago

Can't Interfere With COC'S Decision Not To Pay Suspended Directors For Their Services During CIRP: NCLT Ahmedabad

Live Law  

The National Company Law Tribunal, Ahmedabad Bench, comprising of Dr. Deepti Mukesh and Shri Ajai Das Mehrotra, while adjudicating a petition filed in Indian Overseas Bank v AMW Autocomponent Ltd., has held that promoters and persons associated with the management of the Corporate Debtor are statutorily obligated to extend all assistance to the Resolution Professional. The Bench declined to interfere …

Corporate Resolution Party Resolution Professional Bench Directors Decision
NCLT Delhi Holds Suspended Directors Liable For Running Fraudulently
2 years, 3 months ago

NCLT Delhi Holds Suspended Directors Liable For Running Fraudulently

Live Law  

The National Company Law Tribunal, New Delhi Bench, comprising of Shri Dharminder Singh and Dr. Binod Kumar Sinha, while adjudicating a petition filed in M/s Concord Infrastructure Pvt. Ltd., has approved the resolution plan submitted by Mr. Sunder Kumar Singhal and Mr. Sunil Kumar Agarwal for M/s Shubhkamna Buildtech Pvt. Mr. Sunder Kumar Singhal & Mr. Sunil Kumar Agarwal, who …

Corporate Resolution Corporate Debtor Resolution Plan Plan Noida Nclt
Look Back Period Under Section 46 Not Applicable To Section 66 Under Insolvency And Bankruptcy Code, 2016: NCLAT
2 years, 7 months ago

Look Back Period Under Section 46 Not Applicable To Section 66 Under Insolvency And Bankruptcy Code, 2016: NCLAT

Live Law  

National Company Law Appellate Tribunal principal bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava, Ms. Shreesha Merla in the case of Aditya Kumar Tibrewal v. Om Prakash Pandey held that the look back period prescribed under Section 46 of Insolvency & Bankruptcy Code, 2016 does not apply to transactions under Section 66 of the code. Resolution Professional of M/s …

Application Period Nclt Nclat Code Transaction Suspended