Section 7 IBC Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT sets aside Section 7 IBC application; lets Section 9 application run its due course

The Tribunal stated that if the withdrawal of the Section 9 Admission order was upheld and CIRP were to start afresh from the date of admission of the Section 7 Application, it would have resulted in an inadequate insolvency resolution of the corporate debtor.

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 Supreme Court

Upheld, albeit with directions. Why was IBC (Amendment) Act, 2020 challenged? What prompted SC to invoke Art. 142? Read comprehensive point-wise analysis of the 465-pages judgment

Supreme Court: The 3-Judge Bench of Rohinton Fali Nariman, Navin Sinha and K.M. Joseph, JJ., in a 465-pages long judgment, upheld the

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | Article 137 of Limitation Act not applicable to insolvency application under S.7 IBC where corporate debtor acknowledges debt in its balance sheet

National Company Law Tribunal, Mumbai: The Bench of Bhaskara Pantula Mohan, Member (Judicial) and V. Nallasenapathy, Member (Technical) allowed a petition filed by

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Pre-admission enquiry under S. 7 IBC not to be converted to full-dressed trial, NCLT directed to expedite disposal of application

National Company Law Appellate Tribunal (NCLAT): Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal by Asset Reconstruction Co. (India) Ltd. with

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Parties may settle the claim in interregnum of filing of application under S. 7 IBC and constitution of Committee of Creditors

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) allowed an