Committee of Creditors Archives | Page 2 of 2

Case Briefs Tribunals/Commissions/Regulatory Bodies

Should Resolution Professional include delayed claims of homebuyers under memorandum of information? NCLAT decides

National Company Appellate Tribunal, New Delhi: The Coram of Ashok Bhushan, J (Chairperson), Shreesha Merla (Technical member), and Naresh Salecha (Technical member)

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Intention of Legislature, deliberation of the Adjudicating Authority | Only permits Suspended Management of the CD to submit viable RP-Affirms

National Company Law Appellate Tribunal (NCLAT): The Coram of Justice Jarat Kumar Jain, Judicial Member and Ashok Kumar Mishra, Technical Member, dismissed

Case Briefs Supreme Court

Adjudicating authority under IBC may disapprove the resolution plan approved by the Committee of Creditors but cannot modify it: Supreme Court

Supreme Court: In an important ruling relating to the corporate insolvency resolution process concerning the corporate debtor, Jaypee Infratech Limited, the 3-judge

Case Briefs Supreme Court

‘Commercial wisdom of Committee of Creditors is not to be interfered with’; Supreme Court sheds light on the limited scope of interference by NLAT/NCLAT

“The limited judicial review, which is available, can in no circumstance trespass upon a business decision arrived at by the majority of CoC.”

Hot Off The Press News

NCLT approves NHPC’s Resolution Plan for Jalpower Corporation Limited

National Company Law Tribunal (NCLT), Hyderabad bench approved NHPC’s Resolution Plan for taking over Jalpower Corporation Limited (JPCL) as going concern vide its

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether an ‘Unsuccessful Resolution Applicant’ whose Resolution Plan gets rejected by CoC has locus to question implementation of approved Resolution Plan? NCLAT thoroughly determines

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Anant Bijay Singh (Judicial Member), Dr

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Will I&B Code permit a successful Resolution Applicant to stage a “U-turn” frustrating Corporate Insolvency Resolution Process? Tribunal decodes

National Company Law Appellate Tribunal (NCLAT): Full Bench of Justice Bansi Lal Bhat (ACJ) and Justice Anant Bijay Singh (Judicial Member) and Dr

Legislation Updates Rules & Regulations

IBBI amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020.

Case Briefs Supreme Court

NCLAT’s order set aside in Essar Steel Insolvency case; Key issues on Corporate Insolvency Resolution Process answered

Supreme Court: The 3-judge bench of RF Nariman, Surya Kant and V. Ramasubramanian, JJ has set aside the NCLAT order dated 04.07.2019

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Appellate Tribunal exercises inherent powers under R. 11 of NCLAT Rules, quashes CIRP where settlement reached between parties before constitution of CoC

National Company Law Appellate Tribunal (NCLAT): A Bench of Justice S.J. Mukhopadhaya, Chairperson and Kanthi Narahari, Member (Technical), allowed an appeal seeking to

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Appeal under S. 61 IBC not maintainable in absence of decision by Adjudicating Authority

National Company Appellate Tribunal (NCLAT): The Bench comprising of S.J. Mukhopadhaya, J. (Chairperson) and A.I.S Cheema, J. and Kanthi Narahari, Members, Judicial and

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | A shareholder can save corporate debtor from insolvency by paying creditor’s dues before constitution of CoC even if S. 9 application has been admitted

National Company Law Appellate Tribunal (NCLAT): A Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice A.I.S Cheema, Member (Judicial) and Kanthi Narahari,

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Parties may settle the claim in interregnum of filing of application under S. 7 IBC and constitution of Committee of Creditors

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) allowed an

Case Briefs Tribunals/Commissions/Regulatory Bodies

Binani Industries cannot now repay dues and settle; UltraTech Cement’s revised resolution plan for Binani Cement accepted: NCLAT

National Company Law Appellate Tribunal (NCLAT): A Two-Member bench comprising of S.J. Mukhopadhya (Chairperson) and Bansi Lal Bhat, Member (Judicial) disposed of