Insolvency proceeding Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Delays arising from statutory compliance not force majeure’; NCLT admits insolvency proceeding against Raheja Developers

The NCLT held that non-delivery of possession despite payments and continued acknowledgment of liability through emails and communications proved default under Section 7 IBC.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘A One Time Settlement agreement cannot extend the date of default’; NCLAT dismisses Samrat Restaurant’s CIRP plea

The NCLAT held the appellant’s claim was inflated, and the Adjudicating Authority rightly recalculated the actual unpaid amount, which fell below the Rs 1 crore threshold.