NCLAT Archives

Supreme Court on Jurisdiction of NCLAT & NCLT || Does jurisdiction of NCLAT/NCLT extend into entering upon merits of a business decision made by a requisite majority of CoC?

Supreme Court: The Division Bench of Dr Dhananjaya Y Chandrachud and M R Shah, JJ., observed that, Jurisdiction of the Adjudicating Authority

Case Briefs Supreme Court

No bar to amendment of S. 7 IBC petition until final order; Money decree, recovery certificate in financial creditor’s favour gives fresh cause of action to initiate corporate insolvency resolution process: SC

Supreme Court: A Division Bench of Indira Banerjee and V. Ramasubramanian, JJ. held that there is no bar in law to amendment

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | An Arroyo for OYO | While allowing it to work independently, closed insolvency proceedings; Disallowed external parties to impinge

National Company Law Appellate Tribunal (NCLAT): The Coram of Anant Bijay Singh, J. (Judicial Member) and Shreesha Merla (Technical Member) while allowing

Tribunals/Regulatory Bodies/Commissions Monthly Roundup

Tribunals/Regulatory Bodies/Commissions Monthly Roundup | June 2021

Here’s a run-through of all the significant decisions covered in the month of June, 2021 under the Section of Tribunals/Commission/Regulatory Bodies. Armed

Akaant Mittal Experts Corner

Interplay of IB Code with Law on Limitation – The Consistent “Inconsistency” – Part III

by Akaant Kumar Mittal†

Cite as: 2021 SCC OnLine Blog Exp 46

Op Eds OP. ED.

Whether NCLT has power to order criminal proceedings KVR Industries Pvt Ltd v. PP Bafna Ventures Pvt Ltd: A Case Comment

by Varun Agarwal*

Op Eds OP. ED.

Encashment of bank guarantee and relevance of moratorium Bharat Aluminium Co. Ltd. v. J.P. Engineers (P) Ltd.: A Case Comment

by Sriharsh Raj±

Op Eds OP. ED.

All that is not right with Indus Biotech v. Kotak | Indus Biotech (P) Ltd. v. Kotak India Venture (Offshore) Fund : A case comment

by Renu Gupta*

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Can Banks debit amounts from Corporate Debtor Company after Moratorium Order? Is there an obligation of releasing ‘title deeds’ under Resolution Process? Read on

National Company Law Appellate Tribunal (NCLAT): The Division Bench of Justice Anant Bijay Singh, Judicial Member and Shreesha Merla, Technical Member held

Case Briefs Supreme Court

NCLT/NCLAT vacancies| 39 members for a sanctioned strength of 63! Supreme Court asks Centre to complete reappointment process within 2 months

Supreme Court: Taking note of the depleting strength of the members of the NCLT and NCLAT, the 3-judge bench of L. Nageswara

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | ‘Balance and Security Confirmation Letter’ is sufficient ‘acknowledgement of debt’ so as to extend limitation period for initiating insolvency proceedings under S. 7 IBC

National Company Law Appellate Tribunal (NCLAT): A Division Bench of Justice Venugopal M. (Judicial Member) and V.P. Singh (Technical Member) dismissed an

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | 10 Appeals, one tripartite agreement, with almost similar quandary on ‘Spectrum’| Non payment of dues-Can Spectrum be used as security interest in insolvency and moratorium as an excuse| Convoluted attempts to “offer peanuts”?

National Company Law Appellate Tribunal (NCLAT): A Coram of Bansi Lal Bhat, J. (Acting Chairperson), Anant Bijay Singh, J. (Judicial Member) and

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | What was manifested as pre-conditions for Resolution Plan turns out to be premeditated | Prevented from taking a fine u-turn | Imposed a fine instead

National Company Law Appellate Tribunal (NCLAT): Coram of Bansi Lal Bhatt, J. (Acting Chairperson), Anant Bijay Singh, J. (Judicial Member), Dr Ashok

Case Briefs Supreme Court

‘Reinstatement by NCLAT “too big a pill” for perhaps even Cyrus Mistry to swallow’; Here’s why Supreme Court upheld Cyrus Mistry’s removal as Chairman by the Tata Sons

“NCLAT appears to have granted the relief of reinstatement gratis without any foundation in pleadings, without any prayer and without any basis in law, thereby forcing upon the appellant an Executive Chairman, who now is unable to support his own reinstatement. “

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | NCLT has the discretion to modify arrangements, but only when cogent; Otherwise deemed unwarranted

National Company Law Appellate Tribunal (NCLAT): A Coram of Justice Jarat Kumar Jain (Judicial Member) and Kanthi Narahari (Technical Member) accepted an

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT| 31 hearings, no regards to time, addendums, midway interruptions and yet no heed to initiation to liquidation; Adjudicating authority advised to be mindful

National Company Law Appellate Tribunal– A Coram of Bansi Lal Bhatt, J. (Acting Chairperson) and Dr Ashok Kumar Mishra (Technical Member) ordered

Case Briefs Supreme Court

‘Commercial wisdom of Committee of Creditors is not to be interfered with’; Supreme Court sheds light on the limited scope of interference by NLAT/NCLAT

“The limited judicial review, which is available, can in no circumstance trespass upon a business decision arrived at by the majority of CoC.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Reagitating what is already recorded only because liberty was given for appeal, held absurd | Declines to entertain

National Company Law Tribunal (NCAT): A Coram of Justice A.I.S. Cheema (Judicial member) and Dr Alok Srivastava (Technical member) dismissed an appeal

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT| Issuance of the cheque is indicative of acknowledgement of debt, even if returned dishonored

National Company Law Appellate Tribunal- A Coram of Anant Bijay Singh, J. (Judicial Member) and Shreesha Merla (Technical Member) dismissed an appeal

Case Briefs High Courts

Del HC | NCLT and NCLAT directed to regulate their own procedure for virtual hearing platforms so long as it is ensured that if any particular party requests for a link, same would be considered in a fair, transparent and non-arbitrary manner

Delhi High Court: Prathiba M. Singh, J., addressed a concern wherein it was stated that the NCLAT and NCLT ought to have