Payment of Stamp Duty vis-à-vis Resolution Plan under Insolvency and Bankruptcy Code, 2016
by Swarnendu Chatterjee† and Simran Bais††
resolution plan
NCLAT | Intention of Legislature, deliberation of the Adjudicating Authority | Only permits Suspended Management of the CD to submit viable RP-Affirms
National Company Law Appellate Tribunal (NCLAT): The Coram of Justice Jarat Kumar Jain, Judicial Member and Ashok Kumar Mishra, Technical Member, dismissed
Sirpur Paper Mills case: Fate of an arbitral award after approval of resolution plan
by Priyal Jain† and Prasann Malviya††
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
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
Any creditor including Central/State Government or any local authority bound by Resolution Plan approved by adjudicating authority under Section 31(1) IBC: Supreme Court
“On the date of approval of resolution plan by the Adjudicating Authority, all such claims, which are not a part of resolution plan, shall stand extinguished. “
Ineligible promoters under Section 29A IBC can’t propose compromise or arrangement schemes under Section 230 of the Companies Act, 2013: Supreme Court
“The purpose of the ineligibility under Section 29A is to achieve a sustainable revival and to ensure that a person who is the cause of the problem either by a design or a default cannot be a part of the process of solution.”
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
NCLT | Whether Resolution Plan can be shared with Jet Airways employees or not? Verdict explains provisions revolving around confidentiality, purpose of code and more
National Company Law Tribunal, Mumbai Bench: The Coram of Janab Mohammed Ajmal (Judicial Member) and V. Nallasenapathy (Technical Member), decided the issue
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
Whether an ‘Unsuccessful Resolution Applicant’ whose Resolution Plan gets rejected by CoC has locus to question implementation of approved Resolution Plan? NCLAT thoroughly determines
National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Anant Bijay Singh (Judicial Member), Dr
NCLAT | Will I&B Code permit a successful Resolution Applicant to stage a “U-turn” frustrating Corporate Insolvency Resolution Process? Tribunal decodes
National Company Law Appellate Tribunal (NCLAT): Full Bench of Justice Bansi Lal Bhat (ACJ) and Justice Anant Bijay Singh (Judicial Member) and Dr
NCLAT | Law on maintainability of Compromise and Arrangement application by Promoter during pendency of Liquidation under IBC clarified
National Company Law Appellate Tribunal (NCLAT): The Bench of Justice S.J. Mukhopadhyay, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), set aside
Debtor, RP not to be held responsible for failure of Resolution Plan in absence of evidence
National Company Law Appellate Tribunal (NCLAT): Where an application to initiate Corporate Insolvency Resolution Process (“CIRP”) was moved by the bank-financial creditor,
Tata Steel’s resolution plan for corporate debtor Bhushan Steel approved by NCLT
National Company Law Tribunal: The Principal Bench comprising of CJ (Retd.) M.M. Kumar, President and S.K. Mohapatra, Member, accepted and approved the