corporate insolvency resolution process

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While hearing an appeal challenging an impugned order passed by the Adjudicating Authority dismissing a S. 7 IBC application on the ground that the appellant was not able to establish debt and default, the Tribunal held that it is clear from the facts and circumstances the definition of debt and default is rightly established by the appellant and the Adjudicating Authority has committed a patent error while passing the impugned order.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While deciding the present matter dealing with mistake in demand notice, NCLAT held that “the Corporate Debtor has not and would not be prejudiced by fact that Operational Creditor has mentioned the wrong date of default due to its inadvertence.”

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal held that Adjudicating Authority cannot direct Resolution Professional to pay lease amount under Section 14(1)(d) of Insolvency and Bankruptcy Code, 2016, during CIRP

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While adjudicating an appeal file with a delay of 55 days, the Tribunal held that S. 238 IBC overrides S. 12 of the Limitation Act, 1963 and therefore this Tribunal does not have power to condone a delay beyond a period of 45 days.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal held that rejection of application for initiation of Corporate Insolvency Resolution Process is inevitable if it is filed fraudulently and maliciously for purpose other than resolution of insolvency.

Delhi High Court
Case BriefsHigh Courts

The Delhi High Court held that adjudication of an avoidance application was independent of the resolution of the corporate debtor and could survive Corporate Insolvency Resolution Process (CIRP) and a Resolution Professional would not be functus officio with respect to adjudication of avoidance application.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal observed that once the CoC has decided to vote on the resolution plans after closure of challenge process, the Adjudicating Authority cannot direct the CoC to consider any revised plan submitted thereafter.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

The Tribunal observed that an application under S. 12A cannot be entertained after approval of Resolution Plan by CoC.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter, an appeal was filed challenging NCLT's order directing the CoC to reconsider its decision. Upholding the NCLT's order, the Tribunal held that when the CoC's decision for liquidation is in accordance with IBC, then only NCLT's obligation to direct liquidation will arise.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the present case, a Liquidator filed an application before for release/refund of unlawful payment by the applicant. The Tribunal, partly allowing the appeal, upheld the refund of the amount of Rs.25,46,588/- and of the amount of Rs.1,08,797/- as no application for refund was filed for the said amount.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal, New Delhi: A bench consisting of Anant Bijay Singh, J., and Shreesha Merla* (Technical Member)

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal | The bench comprising of M. Venugopal, J. and Naresh Salecha* (Technical Member) held that

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal | A bench comprising of Ashok Bhushan, J., Dr. Alok Srivastava* (Technical Member) and Barun

Delhi High Court
Case BriefsHigh Courts

While exercising the power conferred by Section 11 of the Act, the Court ceases to be a Court of Record and the review or reopening of proceedings which is sought is not with respect to any power exercised by the Court under Section 11 on merits but on account of the evident factual mistake in that order.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal | Dismissing the appeal, Ashok Bhushan, J., Kanthi Narahari (Technical Member) and Barun Mitra (Technical

Law School NewsOthers

    The Center for Transnational Commercial Law (CTCL), National Law University Delhi is organizing a 5-day course on Insolvency Practicum from

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal : While deciding an issue as to whether the adjudicating authority is competent to pass

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

“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.”

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellant Tribunal, New Delhi: The Bench of Ashok Bhushan, J., Chairperson, and Shreesha Merla, Technical Member, while