NCLT Archives | Page 10 of 13

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether S. 7 IBC petition is maintainable where financial creditor fails to enclose financial contract/documents along with the petition: NCLT examines

National Company Law Tribunal (NCLT): Coram of Judicial Member Ashok Kumar Borah and Technical Member Shyam Babu Gautam has admitted a petition

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | In last meeting of CoC, unreasonable pushed in ‘success fee’ appears like an afterthought-Affirms proportionate distribution

National Company Law Appellate Tribunal (NCLAT): The Coram of Justice A.I.S. Cheema, Officiating Chairperson and Alok Srivastava, Technical Member while dismissing an

Case Briefs Supreme Court

Supreme Court on preferring an appeal before NCLAT beyond a period of 30 days: Read the Law [Explained]

Supreme Court of India: The Bench of M.R. Shah and Aniruddha Bose, JJ., observed that, “Appellate Tribunal has jurisdiction or power to

Case Briefs Supreme Court

Resolution Applicant under IBC not allowed to withdraw/modify its Resolution Plan, once submitted for approval of NCLT: Supreme Court

Supreme Court: A Division Bench of Dr D.Y. Chandrachud and M.R. Shah, JJ. has held that under Insolvency and Bankruptcy Code, 2016,

Appointments & Transfers News

8 Judicial and 10 Technical Members appointed in National Company Law Tribunal

Appointments Committee of the Cabinet has approved the proposal for the appointment of the following persons to the posts of Judicial and

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT| Evaluation of CoC wisdom, beyond the purview of NCLT-Is expected ‘just’ to initiate liquidation process rather

National Company Law Tribunal, Hyderabad Bench: The Coram of Madan B Gosavi (Judicial Member) and Veera Brahma Rao Arekapudi (Technical Member) was

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | ‘The moment a pre-existing dispute is established, IBC disenthralls itself’– Dismisses Application

National Company Law Tribunal, New Delhi: The Coram of Abni Ranjan Kumar Sinha, (Judicial Member) and L.N. Gupta (Technical Member) dismissed an

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Matter getting protracted, defeating the purpose of IBC; Orders NCLT to pass orders ‘one way or the other’

National Company Law Appellate Tribunal (NCLAT): The Coram of Judicial A.I.S. Cheema (The officiating Chairperson) and Dr Alok Srivastava (Technical Member) while

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | With no prospects, substance and bleak chances of recovery, Resolution Professional seeks liquidation — With its acceptance, Nirav Modi’s Firestar dooms

National Company Law Tribunal (NCLT): The Coram of H.V. Subba Rao (Judicial Member) and Chandra Bhan Singh (Technical Member) while allowing the

Case Briefs Supreme Court

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 Tribunals/Commissions/Regulatory Bodies

NCLT rejects withdrawal application under S. 12-A IBC where corporate debtor entered into settlement only with a fraction of creditors: CIRP against Rolta India Ltd. will continue

National Company Law Tribunal, NCLT Mumbai: Coram of Suchitra Kanuparthi, Judicial Member and Chandra Bhan Singh, Technical Member, observed that, “…a Judicial

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

NCLT Decodes | Whether working capital provided by an investor to run a restaurant would come under the ambit of Financial Debt?

National Company Law Tribunal (NCLT): Coram of H.V. Subba Rao (Judicial Member) and Chandra Bhan Singh (Technical Member) held that ‘Working Capital’

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | Malice Intention to start something ‘other than insolvency’ nipped- Releases the Corporate Debtor from ‘rigors of CIRP and moratorium’

National Company Law Tribunal (NCLT): The Coram of Justice Abni Ranjan Kumar Sinha,(Judicial Member), and L.N. Gupta, (Technical Member) while exercising their

Case Briefs High Courts

Guj HC | Court directs transfer of winding-up proceedings to NCLT; scattering litigation to various forums leads to multiplicity, abuse of process of law

Gujarat High Court: The Division Bench of Vineet Kothari and B.N. Karia, JJ., took up a petition which dealt with the parties

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | Personal Guarantor not liable to be prosecuted under S. 95 IBC where corporate debtor concerned is not under corporate insolvency resolution process

National Company Law Tribunal, Mumbai: Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member dismissed an interlocutory application filed