Corporate Law
NCLAT Chennai Quashes Waiver Granted to Non-Members of Madras Race Club
The ruling serves as a reminder of the stringent requirements under the Companies Act, ensuring that only those with a l...
NCLAT Expunges Stigmatic Remarks Against SBI Officials and Counsel
Additionally, the NCLAT modified the directive regarding communication of the NCLT's order to SBI's senior officials. In...
NCLT Ruling: IRP Fees Not Payable During CIRP Stay, Settlement Closure Not a Withdrawal
This ruling provides clarity on the financial and procedural expectations for IRPs during stays and post-settlement scen...
A shareholder is not an "aggrieved person" under the IBC to maintain such an application.
The judgment underscores the importance of maintaining the integrity and efficiency of the insolvency resolution process...
NCLAT Upholds Resolution Plan, Supersedes BIFR Scheme in Trinity Auto Components Case
The NCLAT's decision marks a pivotal affirmation of the IBC's supremacy in insolvency proceedings, reinforcing the legis...
NCLT Mumbai Bench Upholds Admissibility of Claims Based on Uninvoked Corporate Guarantees
The tribunal's ruling is expected to have a significant impact on the interpretation of contingent claims under the IBC,...
NCLT Dismisses Kotak Mahindra's Insolvency Plea Against Mag.T Exim Ltd.
The adjudicating authority, comprising Member (Judicial) Shri Manni Sankariah Shanmuga Sundaram and Member (Technical) S...
Cuttack NCLT Admits Canara Bank's Insolvency Plea Against S.S. Aluminium Pvt. Ltd.
This decision underscores the tribunal's commitment to uphold the provisions of the Insolvency and Bankruptcy Code, ensu...
NCLT Allahabad Dismisses Delay Condonation Plea in Liquidation Case
In conclusion, the NCLT's dismissal of the condonation plea underscores the importance of timely action by claimants in ...
NCLT Kolkata Allows Exclusion of 61 Days from Liquidation Timeline for Sasa Musa Sugar Works
The tribunal acknowledged that the Liquidator was not at liberty to proceed with fresh auction notices until judicial an...
NCLT Ruling: TDS Deductions by M/s Bhuvana Infra Projects Excluded from Liquidation Estate
This ruling reinforces the legal stance that statutory dues, specifically TDS amounts, hold a unique position in insolve...
NCLAT Upholds Rejection of Insolvency Plea by Ahluwalia Contracts Against Shristi Infrastructure
The NCLAT's decision reaffirms the principle that any pre-existing dispute, when substantiated, is a valid ground for re...
NCLAT Dismisses Recall Application; Reaffirms No Review Power, Upholds Procedural Fairness
Citing relevant judicial precedents, the NCLAT underscored that the power of recall cannot substitute for an appeal, a r...
NCLT Rules Moratorium Doesn't Block Return of Mistaken Fund Transfers
This judgment reaffirms the principle that moratorium provisions are designed to protect the assets of the debtor that a...
NCLT Kochi Bench Allows Delay in Bankruptcy Application Filing, Upholds Substantive Justice
The ruling underscores the Tribunal's commitment to balancing procedural requirements with the principles of natural jus...
NCLT Mumbai Bench Initiates Corporate Insolvency Resolution Process for Dee Plone Polyster Pvt. Ltd.
The financial creditor, Pegasus Assets Reconstruction Pvt. Ltd., claimed a default amount of Rs. 37,35,74,442.07, based ...
NCLT Denies Jurisdiction to Interfere in PMLA Property Attachment
Consequently, the applications filed by Mr. Vikram Kumar were dismissed, reinforcing the principle that the NCLT does no...
NCLT to decide issues incidental to complaints of oppression and mismanagement
The Supreme Court's decision underscores the expansive role of the NCLT in addressing issues of oppression and mismanage...
NCLT Kolkata Admits Insolvency Petition Against Vasupujya Enterprise Pvt. Ltd.
This ruling reiterates the legal framework allowing financial creditors to pursue insolvency proceedings against guarant...
NCLT Admits Punjab National Bank's Insolvency Petition Against Aban Offshore Ltd
The tribunal appointed Headway Resolution and Insolvency Services Private Limited as the IRP and declared a moratorium u...
NCLAT Upholds Initiation of Insolvency Proceedings Against Supertech Realtors
The Tribunal dismissed the appeal and directed the Interim Resolution Professional (IRP) to proceed with the constitutio...
NCLT Bengaluru Bench Admits Corporate Insolvency Resolution Process Against Dunzo Digital Private Limited
The NCLT bench, comprising Shri Sunil Kumar Aggarwal and Shri Radhakrishna Sreepada, ruled that the existence of an arbi...