NCLAT Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Application under Section 7 IBC relating to the interest component due even if principal amount is not due, held maintainable

National Company Law Appellate Tribunal | Upholding the maintainability of an application filed under S. 7 IBC, a bench comprising of Rakesh

Case Briefs Tribunals/Commissions/Regulatory Bodies

Tyre Cartelization Matter | NCLAT remanded matter back to CCI; asks to review fines to save domestic tyre industry

National Company Law Appellate Tribunal | In a landmark judgment related to cartelization activities of five major domestic tyre manufactures

Akaant Mittal Experts Corner

The Clean Slate Theory – IBC’s Version of Hermione’s Obliviate Spell

by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 83

Case Briefs Supreme Court

‘Whether Enforcement directorate can attach properties of corporate debtor once moratorium is in force; Supreme Court issues notice in a SLP

Supreme Court: In a special leave petition (‘SLP’) having question of law, whether Enforcement directorate (‘ED’) can attach properties of corporate debtor

Case Briefs Tribunals/Commissions/Regulatory Bodies

Non-payment of full provident fund and gratuity violative of S. 30(2)(e) IBC; NCLAT directs Jet Airways to make payments

National Company Law Appellate Tribunal, Delhi: In a batch of appeals filed challenging order dated 22-06-2021 passed by the National

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether Adjudicating Authority is competent to pass order under Section 66 of IBC during subsistence of moratorium under Section 14 of IBC? NCLAT answers

National Company Law Appellate Tribunal : While deciding an issue as to whether the adjudicating authority is competent to pass

Case Briefs Tribunals/Commissions/Regulatory Bodies

“Reduction of Share Capital is a matter of domestic concern”; NCLAT confirms reduction of the share capital approved by the shareholders of Precious Energy Services Ltd.

National Company Law Appellate Tribunal (NCLAT): While deciding the instant appeal filed by Precious Energy Services Ltd., against the order

Case Briefs Tribunals/Commissions/Regulatory Bodies

“If one does not come before the Court or Tribunal with clean hands his claim deserves to be rejected”, says NCLAT; imposes a cost of Rs 1 lakh on the Appellant for appearing through counsel personifying to be an advocate

National Company Law Appellate Tribunal, New Delhi: The Bench of Rakesh Kumar, J., Judicial Member, and Dr. Ashok Kumar Mishra,

Case Briefs Tribunals/Commissions/Regulatory Bodies

Entertainment City Ltd an ‘affiliate’ of United Group; NCLAT grants Moratorium Benefits

National Company Law Appellate Tribunal, New Delhi: The Bench of Ashok Kumar Bhushan, J., Chairperson, M. Satyanarayana Murthy, J., Judicial

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT| Right to payment cannot be accrued when a corporate guarantee is not invoked before CIRP initiation

National Company Law Appellant Tribunal, New Delhi: The Bench of Ashok Bhushan, J., Chairperson, and Shreesha Merla, Technical Member, while

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT Mumbai |Interest on Delayed Payments is a part of Operational Debt under S. 3(11) of IBC

National Company Appellate Tribunal, Mumbai: The Bench of Ashok Bhushan, J., Chairperson, M. Satyanarayana Murthy, Judicial Member, and Naresh Salecha, Technical member

Case Briefs Supreme Court

IBC – Section 7(5)(a) | NCLT “may” reject Financial Creditor’s CIRP application even in case of Corporate Debtor’s default in payment of debt

Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it

Op Eds OP. ED.

Personal Guarantors of Corporate Debtors Finally in the Net of IBC

by Sunil Gupta†

Case Briefs Tribunals/Commissions/Regulatory Bodies

Should Resolution Professional include delayed claims of homebuyers under memorandum of information? NCLAT decides

National Company Appellate Tribunal, New Delhi: The Coram of Ashok Bhushan, J (Chairperson), Shreesha Merla (Technical member), and Naresh Salecha (Technical member)

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT| Using provisions of IBC for revival of TDS amounts is a misuse of IBC; NCLAT holds defaults over non-payment of TDS is not a ground for initiation of CIRP

A coram of Justice Ashok Bhushan (Chairperson), Shreesha Merla (Technical member) and Naresh Salecha (Technical Member) has held that non-payment of TDS

Legal RoundUp Tribunals/Regulatory Bodies/Commissions Monthly Roundup

SCC Times

NCLAT

NCLAT | Application under Section 7 IBC relating to the interest component due even if principal amount is not due, held maintainable

Tyre Cartelization Matter | NCLAT remanded matter back to CCI; asks to review fines to save domestic tyre industry

The Clean Slate Theory – IBC’s Version of Hermione’s Obliviate Spell

‘Whether Enforcement directorate can attach properties of corporate debtor once moratorium is in force; Supreme Court issues notice in a SLP

Non-payment of full provident fund and gratuity violative of S. 30(2)(e) IBC; NCLAT directs Jet Airways to make payments

Whether Adjudicating Authority is competent to pass order under Section 66 of IBC during subsistence of moratorium under Section 14 of IBC? NCLAT answers

“If one does not come before the Court or Tribunal with clean hands his claim deserves to be rejected”, says NCLAT; imposes a cost of Rs 1 lakh on the Appellant for appearing through counsel personifying to be an advocate

Entertainment City Ltd an ‘affiliate’ of United Group; NCLAT grants Moratorium Benefits

NCLAT| Right to payment cannot be accrued when a corporate guarantee is not invoked before CIRP initiation

NCLAT Mumbai |Interest on Delayed Payments is a part of Operational Debt under S. 3(11) of IBC

IBC – Section 7(5)(a) | NCLT “may” reject Financial Creditor’s CIRP application even in case of Corporate Debtor’s default in payment of debt

Personal Guarantors of Corporate Debtors Finally in the Net of IBC

Should Resolution Professional include delayed claims of homebuyers under memorandum of information? NCLAT decides

NCLAT| Using provisions of IBC for revival of TDS amounts is a misuse of IBC; NCLAT holds defaults over non-payment of TDS is not a ground for initiation of CIRP

30 Reports to Read from Tribunals and Commissions | April and May RoundUp 2022

Jet Airways Resolution Plan’s implementation is subject to the outcome of? Here’s NCLAT’s order

Article 1 of Limitation Act deals with suits relating to accounts: NCLAT highlights scope of Art. 137 of Limitation Act

Whether fixation of salary of the MD is within the domain of IBC? NCLAT explains

Can territorial jurisdiction of NCLT be decided on basis of a Facility Agreement between parties? NCLAT answers