Creditor Archives | SCC Times

Can rents receivable by debtors be assigned to the lender as an actionable claim? Supreme Court answers

After applying the rule that all the contemporaneous documents are to be read together, to discern the true purport of the contract, Supreme Court said that the parties intended assignment of the debt, i.e., the rents payable.

Case Briefs Supreme Court

Borrower’s offer to pay Rs.71 lakhs as a purchaser of mortgaged property will not discharge him from entire outstanding liability of approx 1.8 crores: SC

Supreme Court: The Division Bench of M. R. Shah* and Sanjiv Khanna, JJ., held that the entire liability outstanding against the borrower

Case Briefs Supreme Court

IBC Amendment, 2018; Supreme Court elaborates conditions for disqualification of Resolution Professional under S. 29A(h) of IBC

Supreme Court: In a case were the Division Bench of Sanjay Kishan Kaul and M.M. Sundresh*, JJ., was sought to provide judicial

Case Briefs Tribunals/Commissions/Regulatory Bodies

EPC Construction Resolution: NCLAT allows distribution of Rs 223 crores from available cash balance among creditors and lenders

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Ashok Bhushan (Chairperson) and Dr. Alok Srivastava (Technical Member) allowed distribution of

Case Briefs Supreme Court

“Any deviation would defeat the object and purpose of providing such time limit under IBC”; Supreme Court directs to speed up insolvency process of Amtek Auto

Supreme Court: The Division Bench of M.R. Shah* and Sanjiv Khanna, JJ., directed to speed up the insolvency resolution process of Amtek

Case Briefs High Courts

Law on territorial jurisdiction explained | Will the place mentioned on invoice decide the jurisdiction of a Court on filing of a suit against it? Del HC explains

Delhi High Court: Asha Menon, J., emphasized the law on territorial jurisdiction while addressing the present matter. Present petition was filed impugning

Case Briefs High Courts

Del HC | Does Exception 3 to S. 28 of Contract Act deal with claim period within which beneficiary is entitled to lodge claim? Court discusses

Delhi High Court: Jayant Nath, J., held that, Exception 3 to Section 28 of the Contract Act deals with curtailment of the

Case Briefs Supreme Court

Any creditor including Central/State Government or any local authority bound by Resolution Plan approved by adjudicating authority under Section 31(1) IBC: Supreme Court

“On the date of approval of resolution plan by the Adjudicating Authority, all such claims, which are not a part of resolution plan, shall stand extinguished. “

Case Briefs Supreme Court

Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC

Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.