{"id":208270,"date":"2019-01-17T12:00:34","date_gmt":"2019-01-17T06:30:34","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=208270"},"modified":"2019-03-07T12:09:24","modified_gmt":"2019-03-07T06:39:24","slug":"nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","title":{"rendered":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code"},"content":{"rendered":"

National Company Law Appellate Tribunal:\u00a0<\/strong>The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal filed by the workers\/employees of Tantia Constructions Ltd. (Corporate Debtor).<\/p>\n

The appellants were the workers\/employees of the Corporate Debtor. State Bank of India (Financial Creditor) had filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of the corporate insolvency resolution process. Appellants moved an application for intervention to bring to NCLT’s notice that winding up proceedings had already been initiated against Corporate Debtor under Sections 433(e) and 434 of the Companies Act and therefore application under Section 7 was not maintainable. NCLT held that appellants had no\u00a0locus standi.\u00a0<\/em>This order was challenged in the present appeal.<\/p>\n

The Appellate Tribunal agreed with NCLT that at the stage of filing of an application under Section 7, no person has a right to claim for hearing except the Corporate Debtor. \u00a0However, it was observed that NCLT should keep in mind the provisions of Section 11 according to which application under Section 7 or 9 is not maintainable if winding up proceedings had been initiated against the Corporate debtor. In such background, the appellants were not allowed to oppose or support the application at the stage of admission. However, NCLT was directed to decide the matter taking into consideration the fact of winding up proceedings brought to its notice by the appellants. [Deb Kumar Majumder v. State Bank of India,\u00a02019 SCC OnLine NCLAT 26<\/b><\/a>, dated 14-01-2019]<\/p>\n","protected":false},"excerpt":{"rendered":"

National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal <\/p>\n","protected":false},"author":8808,"featured_media":153604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[25934,33263,32724,18431],"class_list":["post-208270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-financial-creditor","tag-right-to-claim","tag-section-7-ib-code","tag-winding-up-proceeding"],"yoast_head":"\nNCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code\" \/>\n<meta property=\"og:description\" content=\"National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-17T06:30:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-07T06:39:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"844\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\",\"name\":\"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg\",\"datePublished\":\"2019-01-17T06:30:34+00:00\",\"dateModified\":\"2019-03-07T06:39:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg\",\"width\":1330,\"height\":844},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","og_locale":"en_US","og_type":"article","og_title":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code","og_description":"National Company Law Appellate Tribunal:\u00a0The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal","og_url":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2019-01-17T06:30:34+00:00","article_modified_time":"2019-03-07T06:39:24+00:00","og_image":[{"width":1330,"height":844,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","url":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/","name":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg","datePublished":"2019-01-17T06:30:34+00:00","dateModified":"2019-03-07T06:39:24+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg","width":1330,"height":844},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2019\/01\/17\/nclat-nobody-except-financial-creditor-has-right-to-claim-hearing-at-stage-of-admission-of-application-under-section-7-ib-code\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":292071,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/13\/operational-creditor-be-paid-equivalent-amount-under-sec-53-ibc-in-liquidation-of-corporate-debtor-legal-news\/","url_meta":{"origin":208270,"position":0},"title":"Operational Creditors must be paid equivalent amount as per Section 53 of the IBC in case of liquidation of Corporate Debtor: SC","author":"Editor","date":"May 13, 2023","format":false,"excerpt":"The Court said that Vistra ITCL (India) Ltd. would be treated as a secured creditor in terms of Section 52 and 53 of the IBC, and would be entitled to retain the security interest in the pledged shares.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"payment to operational creditors under ibc","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/payment-to-operational-creditors-under-ibc.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":199742,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/06\/insolvency-and-bankruptcy-code-2016-prevails-over-sarfaesi-act-2002-nclat\/","url_meta":{"origin":208270,"position":1},"title":"Insolvency and Bankruptcy Code, 2016 prevails over SARFAESI Act, 2002: NCLAT","author":"Bhumika Indulia","date":"August 6, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), dismissed an appeal filed by the Financial Creditor, holding it to be sans merit. The appeal was filed by the appellant Bank (Financial Creditor) against the order passed\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":197362,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/06\/22\/corporate-insolvency-resolution-process-under-ib-code-is-barred-if-winding-up-of-the-corporate-debtor-already-ordered\/","url_meta":{"origin":208270,"position":2},"title":"Corporate Insolvency Resolution Process under I&B Code is barred if winding up of the corporate debtor already ordered","author":"Bhumika Indulia","date":"June 22, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal: \u00a0A two-member bench comprising of S.J. Mukhopadhaya and Bansi Lal Bhat, J., dismissed a company appeal filed against the order of the National Company Law Tribunal which dismissed the appellant\u2019s application filed under Section 7 of the Insolvency and Bankruptcy Code 2016, for initiation of\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":201242,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/09\/03\/application-under-sections-7-9-or-10-i-nclt-not-required-to-record-detailed-decision-thereunder-nclat\/","url_meta":{"origin":208270,"position":3},"title":"Application under Sections 7, 9 or 10 I&B Code not adversarial litigation; NCLT not required to record detailed decision thereunder: NCLAT","author":"Bhumika Indulia","date":"September 3, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial)\u00a0 dismissed an appeal filed against the order of the National Company Law Tribunal, Chennai whereby the application filed by the Financial Creditor under Section 7 of the Insolvency\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":252536,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/11\/nclt-rejects-withdrawal-application-under-s-12-a-ibc\/","url_meta":{"origin":208270,"position":4},"title":"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\u00a0","author":"Bhumika Indulia","date":"August 11, 2021","format":false,"excerpt":"National Company Law Tribunal, NCLT Mumbai: Coram of Suchitra Kanuparthi, Judicial Member and Chandra Bhan Singh, Technical Member, observed that, \u201c\u2026a Judicial authority ought not to pass Orders which would lead to further multiplicity of proceedings.\u201d The instant application was filed by the Operational Creditor who had earlier initiated the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":287006,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/16\/financial-creditor-application-section-7-cirp-corporate-debtor-nclat-shareholder-no-locus-standi-legal-research-news-scc-blog\/","url_meta":{"origin":208270,"position":5},"title":"Do Third-party\/shareholders have locus to challenge initiation of CIRP against Corporate Debtor? NCLAT answers","author":"Ritu","date":"March 16, 2023","format":false,"excerpt":"The NCLAT held that there is no law which allows a third party or shareholders to settle the claims of Financial Creditor on behalf of the Corporate Debtor, M\/s McDowell Holdings Limited.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-458.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/208270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=208270"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/208270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/153604"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=208270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=208270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=208270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}