In the instant matter, the appellant claimed to be a Financial Creditor as their name was included in the balance sheet of the Corporate Debtor.
by Ankit Parhar† and Rashi Srivastava††
Cite as: 2023 SCC OnLine Blog Exp 55
by Disha Jain†
The NCLAT held that there is no law which allows a third party or shareholders to settle the claims of Financial Creditor on behalf of the Corporate Debtor, M/s McDowell Holdings Limited.
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.
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has held that if there are two borrowers or if two
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Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it
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National Company Law Tribunal, Allahabad (NCLT): The bench of Rajasekhar V.K., Judicial Member and Virendra Kumar Gupta, Technical Member decided that for
by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 9
by Love Kumar Gupta† and Angad Sandhu††
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National Company Law Tribunal (NCLT): Coram of Judicial Member Ashok Kumar Borah and Technical Member Shyam Babu Gautam has admitted a petition
National Company Law Appellate Tribunal (NCLAT): The Coram of Justice Jarat Kumar Jain, Judicial Member and Ashok Kumar Mishra, Technical Member, dismissed
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.