Corporate Debtor

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While hearing an appeal challenging an impugned order passed by the Adjudicating Authority dismissing a S. 7 IBC application on the ground that the appellant was not able to establish debt and default, the Tribunal held that it is clear from the facts and circumstances the definition of debt and default is rightly established by the appellant and the Adjudicating Authority has committed a patent error while passing the impugned order.

NCLAT
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While deciding the present matter dealing with mistake in demand notice, NCLAT held that “the Corporate Debtor has not and would not be prejudiced by fact that Operational Creditor has mentioned the wrong date of default due to its inadvertence.”

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While upholding the NCLT’s order of admission of fresh application and initiation of CIRP against the Corporate Debtor, the Tribunal held that the nature of financial debt would not change on account of breach of the consent terms.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While adjudicating an appeal file with a delay of 55 days, the Tribunal held that S. 238 IBC overrides S. 12 of the Limitation Act, 1963 and therefore this Tribunal does not have power to condone a delay beyond a period of 45 days.

Delhi High Court
Case BriefsHigh Courts

The Delhi High Court held that adjudication of an avoidance application was independent of the resolution of the corporate debtor and could survive Corporate Insolvency Resolution Process (CIRP) and a Resolution Professional would not be functus officio with respect to adjudication of avoidance application.

NCLAT
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In a case challenging the Adjudicating Authority’s order to withdraw from e-auction process and refund of EMD and first instalment, the Tribunal held that the Adjudicating Authority can allow the Successful Auction Purchaser to withdraw from e-auction process when the balance bid amount is due because of the attachment of the assets of the Corporate Debtor.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter an appeal was preferred against the order of NCLT admitting S. 7 IBC application or repayment of financial debt. Upholding the order of the NCLT, the Tribunal held that even if there is no proof of loan agreement other materials on record can prove the financial debt.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

The Tribunal observed that an application under S. 12A cannot be entertained after approval of Resolution Plan by CoC.

Allahabad High Court
Case BriefsHigh Courts

Allahabad High Court said that challenge to demand notice for electricity dues, issued jointly in name of Directors of the insolvent company cannot be sustained on the ground that liabilities of guarantor stood automatically discharged on acceptance of Resolution Plan.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter, an appeal was filed challenging NCLT's order directing the CoC to reconsider its decision. Upholding the NCLT's order, the Tribunal held that when the CoC's decision for liquidation is in accordance with IBC, then only NCLT's obligation to direct liquidation will arise.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the present case, a Liquidator filed an application before for release/refund of unlawful payment by the applicant. The Tribunal, partly allowing the appeal, upheld the refund of the amount of Rs.25,46,588/- and of the amount of Rs.1,08,797/- as no application for refund was filed for the said amount.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter, the Adjudicating Authority dismissed S. 7 IBC application on the ground of limitation and the Tribunal acknowledged that there was default and debt, and the application is not barred by limitation.

NCLAT
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    National Company Law Appellate Tribunal, New Delhi: A bench consisting of Anant Bijay Singh, J., and Shreesha Merla* (Technical Member)

NCLAT
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    National Company Law Appellate Tribunal | The bench comprising of M. Venugopal, J. and Naresh Salecha* (Technical Member) held that

Cases ReportedSCC Weekly

    Civil Procedure Code, 1908 — Or. 12 R. 6 — Grant of relief on the basis of admission — When

NCLAT
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    National Company Law Appellate Tribunal | A bench comprising of Ashok Bhushan, J., Dr. Alok Srivastava* (Technical Member) and Barun

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal | Dismissing the appeal, Ashok Bhushan, J., Kanthi Narahari (Technical Member) and Barun Mitra (Technical

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal | While dealing with an appeal challenging the impugned order passed by NCLT, Anant Bijay

Legal RoundUpTribunals/Regulatory Bodies/Commissions Monthly Roundup

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