NCLT
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
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
‘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. “
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
NCLAT | Delhi Gymkhana Club – ‘Nepotism in upper echelons?’ | Holding it true, suspends General Committee
National Company Law Appellate Tribunal (NCLAT): A Coram of Justice Bansi Lal Bhat (Acting Chairperson), Justice Anant Bijay Singh(Judicial Member), Dr Ashok
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
Under IBC, NCLT has jurisdiction to adjudicate disputes arising solely on ground of insolvency: Supreme Court
“In all future cases, NCLT would have to be wary of setting aside valid contractual terminations which would merely dilute the value of the corporate debtor, and not push it to its corporate death by virtue of it being the corporate debtor‘s sole contract.”
NCLT Benches to start physical hearing from 1st March, 2021
It has been notified vide an Order dated 23-02-2021 that all NCLT Benches shall start regular Physical hearing w.e.f 01-03-2021, in case
NCLAT | Is it open to NCLT, while deciding S. 9 IBC application, to pass an order directing parties to go for Arbitration? Appellate Commission explains NCLT’s jurisdiction in such cases
National Company Law Appellate Tribunal (NCLAT): The Division Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Dr Ashok Kumar Mishra (Technical
Cal HC | Power of Resolution Professional to take control of any asset, is it subject to determination of ownership by a Court or Authority? Discussion in light of Embassy Property Developments (P) Ltd. v. State of Karnataka, 2019 SCC OnLine SC 1542
Calcutta High Court: Sabyasachi Bhattacharya, J., reiterated the decision of Supreme Court in Embassy Property Developments (P) Ltd. v. State of Karnataka,
Kundan Care: Should struggling businesses be handed over to unwilling resolution applicants?
by Dhruva Gandhi† & Vinodini Srinivasan‡
Ker HC | No bar to parallel proceedings under SARFAESI Act during ongoing Corporate Insolvency Resolution Process; HC reiterates
Kerala High Court: A.M. Badar, J., while dismissing the present petition, reiterated the observations of the Supreme Court in the words, “In
NCLT approves NHPC’s Resolution Plan for Jalpower Corporation Limited
National Company Law Tribunal (NCLT), Hyderabad bench approved NHPC’s Resolution Plan for taking over Jalpower Corporation Limited (JPCL) as going concern vide its
NCLAT | Whether reflection of debt in Balance Sheet of a Corporate Debtor would amount to acknowledgement under S. 18 of Limitation Act? 5-Member Bench decodes Interplay between IBC & Limitation Act; discusses ‘Judicial Indiscipline’
National Company Law Appellate Tribunal (NCLAT), New Delhi: The Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Venugopal M. (Judicial
NCLAT | If an applicant finds the finding of a Judgment to be erroneous, can he be permitted to seek rehearing of appeal under R. 11 of NCLAT Rules, 2016? Tribunal considers
National Company Law Appellate Tribunal(NCLAT): The Division Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Shreesha Merla (Technical Member), while addressing the
NCLAT | S. 65 of IBC is not meant to negate process under S. 7 or 9 of IBC; Penal action under S. 65 can be taken only when provision of Code has been invoked fraudulently, with malicious intent
National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Venugopal M. (Judicial Member) and V.P. Singh (Technical Member) and Shreesha Merla (Technical
Winding Up v. The Insolvency and Bankruptcy Code, 2016
by Amir Arsiwala* & Ishan J Ravindranath**
Del HC | Is the liability of Principal Borrower and Guarantor co-extensive? Court reiterates SC’s position on continuation of SARFAESI proceedings against Guarantor by banks
Delhi High Court: A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank/financial institution can institute