Fictional Scheme to benefit few selected related parties; NCLAT upholds Liquidation of Corporate Debtor
National Company Law Appellate Tribunal | A bench comprising of Ashok Bhushan, J., Dr. Alok Srivastava* (Technical Member) and Barun
NCLT
Recovering Foreign Award Debts in Insolvency Proceedings
by Kartikey Mahajan, Siddhant Sharma and Jatan Rodrigues
Cite as: 2022 SCC OnLine Blog Exp 87
Approval/Non-approval of Resolution Plan is a commercial wisdom and Tribunal can’t interfere with the commercial wisdom: NCLAT
National Company Law Appellate Tribunal | Dismissing the appeal, Ashok Bhushan, J., Kanthi Narahari (Technical Member) and Barun Mitra (Technical
Reappointment is not a vested right; Gujarat High Court denies to grant any direction to complete the reappointment process of a Judicial Member at NCLT
Gujarat High Court held that a writ cannot be issued to direct the authorities to complete the reappointment process on time
‘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
Differentiating Between Statutory vis-à-vis Contractual Charge Holders – Relevance During Liquidation – Analysis
by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 81
Interim moratorium under S. 96 IBC in respect of one of the guarantors would not ipso facto apply against a co-guarantor; Delhi HC stays suit in view of bar under S.96 IBC
Delhi High Court: In two separate suits filed seeking recovery of amount from the defendants, being ex- promoters and personal guarantors of
NCLT Recognises the Role of a Company Secretary as a Watchdog to Ensure Corporate Governance
by Aditya Vikram Jalan† and Urvashi Misra††
“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
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
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
The Castaways – Resolution Applicants under the IBC
by Aditya Bapat†
30 Reports to Read from Tribunals and Commissions | April and May RoundUp 2022
Central Information Commission (CIC) Framework of RTI Act restricts jurisdiction of CIC to provide a ruling on issues pertaining to access/right to
Article 1 of Limitation Act deals with suits relating to accounts: NCLAT highlights scope of Art. 137 of Limitation Act
National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Dr Alok Srivastava (Technical Member) observed
SC to decide if a non-member director barred from approaching NCLT alleging oppression/mismanagement under Section 430 of Companies Act
Supreme Court: The Division Bench of Dinesh Maheshwari and Aniruddha Bose, JJ., issued notice to Topworth Urja & Metals Ltd. in a
Can territorial jurisdiction of NCLT be decided on basis of a Facility Agreement between parties? NCLAT answers
National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Shreesha Merla (Technical Member) held that,
CBI arrests an Interim Resolution Professional of NCLT & two private persons in a bribery case
The Central Bureau of Investigation has arrested an Interim Resolution Professional (IRP), National Law Tribunal (NCLT), Mumbai and two private persons including
Whether Homebuyer’s’ decision as a Class will be binding on every Homebuyer? NCLAT decides
National Company Law Appellate Tribunal, Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Shreesha Merla (Technical Member) held that decision
Can mere filing of proceedings under S. 7 IBC be treated as an embargo on Court exercising jurisdiction under S. 11 of Arbitration & Conciliation Act? Bom HC explains
Bombay High Court: A very interesting question was considered by G.S. Kulkarni, J., the question being, whether mere filing of a proceeding
Lease and Rent as an Operational Debt
by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 38