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“Any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 IBC.”
Noting that hypothecation means the process of using an asset as collateral for a loan. It acts as a protection to the lender when the borrower does not repay the loan, the Supreme Court highlighted that the name of the document is not a decisive factor. Only because the title of the document contains the word hypothecation, it cannot be concluded that guarantee is not a part of this document.
The NCLAT held that the appellant, having obtained a recovery certificate from RERA, qualified as Financial Creditors.
by Vikas Mehta†
Civil Procedure Code, 1908 — Or. 12 R. 6 — Grant of relief on the basis of admission — When
Supreme Court: The bench of Indira Banerjee* and AS Bopanna, JJ has reversed the NCLAT order wherein it was held that the
National Company Law Tribunal, NCLT Mumbai: Coram of Suchitra Kanuparthi, Judicial Member and Chandra Bhan Singh, Technical Member, observed that, “…a Judicial
by Pareekshit Bishnoi & Parveen Kumar Aggarwal*
Supreme Court: The 3-judge bench of RF Nariman, Sanjiv Khanna and Surya Kant, JJ has held the Amendment Act to Insolvency and
National Company Law Appellate Tribunal (NCLAT), New Delhi: The 3-Judge Member Bench comprising of Justice S.J. Mukhopadhaya (Chairperson) and Justice A.I.S Cheema
Supreme Court: The bench of RF Nariman and Navin Sinha, JJ has, in a landmark verdict, upheld the validity of the Insolvency
National Company Law Appellate Tribunal (NCLAT): A Two-Member bench comprising of S.J. Mukhopadhya (Chairperson) and Bansi Lal Bhat, Member (Judicial) disposed of