An Advocate “for” Vidarbha
by Lavanya Pathak† and Akshay Sharma††
National Company Law Tribunal
NCLT admits Go Air insolvency plea
A creditor has limited grounds to object to S. 10 of IBC application.
NCLT imposes exemplary cost of ₹ 5 Lakhs on Trimex Industries (P) Ltd for filing frivolous litigation
NCLT imposed cost to restain Trimex Industries (P) Ltd. from filing frivolous applications which consume Tribunal’s valuable resources and time.
[Relief for Homebuyers] NCLT approves resolution plan of Suraksha Realty in Jaypee Infratech case
The National Company Law Tribunal (Delhi Bench) passed orders in favour of aggrieved homebuyers ordering JAL/JIL/Jaypee/RP to continue with adjusting the delay compensation.
Advance paid for purchase of shares of Corporate Debtor does not fall under definition of Financial Debt: NCLT
NCLT held that the amount of advance paid for purchase of shares of the Corporate Debtor does not fall under the definition of Financial Debt as it was not disbursed against the consideration for the time value of money.
Shardul Amarchand Mangaldas | Webinar on Shareholder disputes in India : New challenges and strategies [February 08, 2023]
The Singapore Court of Appeal’s recent landmark judgment in Anupam Mittal v. Westbridge Ventures II Investment Holdings has been making waves for
The Intersection between Arbitration and Insolvency Proceedings: An Indian Perspective
Devna Arora* and Didon Misri**
Order of stay/moratorium under the Companies Act, 2013 prohibits the initiation of any proceedings; Parties cannot be referred to Arbitration: Delhi High Court
The Delhi High Court ruled that the moratorium granted by the NCLAT, staying the institution of suits and proceedings against the Corporate Debtor, after the resolution process was initiated against it under Sections 241 and 242 of the Companies Act, 2013, was akin to an order of moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016.
Delhi High Court| Courts are duty bound to lean towards an interpretation which uphold jurisdiction of a Civil Court in case of suspicion
Section 9 of CPC is also symbolised as the gateway to the civil Courts as it envisages not only the inherent powers of the Civil Courts to entertain any suit of a civil nature, but also the inherent rights of the disgruntled yet hopeful litigants to approach the civil Courts with a huge expectation that they will get justice from this forum, which would adjudicate upon their infracted legal rights and will invoke the legal machinery to protect and vindicate such rights.
Recovering Foreign Award Debts in Insolvency Proceedings
by Kartikey Mahajan, Siddhant Sharma and Jatan Rodrigues
Cite as: 2022 SCC OnLine Blog Exp 87
Reappointment is not a vested right; Gujarat High Court denies to grant any direction to complete the reappointment process of a Judicial Member at NCLT
Gujarat High Court held that a writ cannot be issued to direct the authorities to complete the reappointment process on time
Claims of various stakeholders to be considered by Resolution Professional in accordance with law; NCLT, Chandigarh emphasizes
That various stakeholders are to be considered by the Resolution Professional under the relevant provisions of IBC andin accordance with law, and the same should be placed before the CoC for approval. Thus, the resolution plan was sent back for approval by the Committee of Creditors.
NCLT approves acquisition of Sterling Biotech Ltd. by US-based food tech ‘Perfect Day’
National Company Law Tribunal | In an application filed under S. 60(5) of the Insolvency and Bankruptcy Code, 2016, a
Supreme Court October 2022| Justice Dr DY Chandrachud’s confirmation as next CJI; Hijab Ban; Two-finger-test; clarification on some IBC provisions; and more
This roundup revisits the analyses of Supreme Court’s judgments/orders on Hijab Ban Controversy, Punishment for Two-Finger test on sexual assault survivors, Dishonour of Cheques; Insolvency and Bankruptcy Code and more. It also covers reports on confirmation of Justice Dr DY Chandrachud as the next CJI; Justice Hemant Gupta’s retirement; explainers on important law points; career trajectory and important decision of Justice S. Ravindra Bhat and Justice BV Nagarathna.
Supreme Court reaffirms that NCLT under S. 7(5) of Insolvency and Bankruptcy Code has discretionary power to admit or reject an application
Supreme Court: In a review petition filed by Axis Bank against Supreme Court’s judgment in Vidarbha Industries Power Ltd. v.
Delhi High Court set aside arbitral award as it suffers from patent illegalities, and fraud and conflicts with the Public Policy of India
Delhi High Court: In a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (‘the Act’) for
NCLAT | Rejection of Resolution Plan by the NCLT due to Non-Serious, Casual and Non-Diligent Conduct of Resolution Appellant is Good in Law
“The CIRP is a time bound process where timeline has been prescribed for each step. The CIRP cannot be allowed to continue for indefinite period.”
SEBI | Public announcement of buy-back, pending scheme of amalgamation, can be allowed if the same is in the interest of investors
Securities and Exchange Board of India (SEBI): The Board comprising G. Mahalingam as Whole Time Member, granted Wipro exemption from the prohibition
Sections 409(3)(a), 409(3)(c), 411(3) and 412(2) of the Companies Act, 2013 invalidated
Supreme Court: Considering various provisions regarding the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) formed under the