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NCLAT Allows Appeal by Successful Resolution Applicant Against EPFO Claim for Pre-CIRP Dues, Holding That Resolution Plan Approved Under IBC Is Binding on All Stakeholders Including Statutory Authorities. The tribunal ruled that EPFO's failure to file claim during CIRP results in extinguishment of dues, and the corporate debtor gets a clean slate post-resolution....

The case involves two appeals arising from an order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 03.07.2024, which allowed an application by the Regional Provident Fund Commissione...

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NCLAT Allows Appeal of Financial Creditor in IBC Limitation Dispute — Balance Sheet Acknowledgment Extends Limitation Under Section 18 of Limitation Act, 1963. The Corporate Debtor's balance sheet recording 'secured borrowings' constituted acknowledgment of debt, saving the Section 7 application from being time-barred....

The appeal was filed by IL&FS Financial Services Limited (Financial Creditor) against the order of the National Company Law Tribunal, Guwahati Bench, which dismissed its Section 7 application under th...

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NCLAT Dismisses Appeal of Personal Guarantor Against Initiation of Insolvency Resolution Process Under IBC. The Tribunal held that the Adjudicating Authority correctly admitted the application under Section 95 of the IBC as the debt was due and default occurred, and the personal guarantor's objections regarding limitation and pending proceedings were not sustainable....

The appeal was filed by Mahdoom Bava Bahrudeen Noorul Ameen (Appellant) under Section 61(3) read with Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), challenging the order dated June ...

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NCLAT Dismisses Appeal Against Rejection of CIRP Petition Due to Settlement Agreement - Mediated Settlement Bars Insolvency Proceedings Under Section 61 of IBC, 2016...

The appeal was filed by Mr. Rakesh Kumar Jain, a financial creditor, under Section 61 of the Insolvency and Bankruptcy Code, 2016, against an order dated 24.04.2023 passed by the National Company Law ...

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NCLAT Dismisses Appeals Challenging Admission of Section 7 Application by Allottees Against Corporate Debtor. The Tribunal upheld the NCLT order allowing impleadment of allottees and admitting the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, as default was established....

The judgment pertains to two appeals filed against an order dated 04.03.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Principal Bench, in CP(IB)/288(PB)/2019. The NCLT had allowed...

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NCLAT Dismisses Promoter's Appeal Against Rejection of Recall Application in Insolvency Case — Corporate Debtor's CIRP Initiation Upheld. The appeal challenged the rejection of an application to recall the order admitting the Corporate Debtor into CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016....

The case pertains to an appeal filed by Shristi Infrastructure Development Corporation Limited, the Promoter of the Corporate Debtor (Sarga Udaipur Hotels & Resorts Private Limited), against an order ...

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NCLAT Allows Appeal Against Dismissal of Section 7 IBC Application by Financial Creditor. Loan Agreement and Default Established Through Signed Documents and Acknowledgment of Debt....

The present appeal was filed by Desana Impex Limited (Appellant), a Non-Banking Financial Corporation (NBFC) registered under the Companies Act, 2013 and the RBI Act, 1934, against the order dated 21....

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NCLAT Dismisses Appeal Against Rejection of Recall Application in CIRP Case. Appellant's Application for Recall of CIRP Commencement Order Was Not Maintainable as CIRP Had Progressed Significantly and Resolution Plan Approval Was Pending....

The appeal was filed by Parmesh Construction Company Ltd. challenging the order dated 04.12.2024 passed by the National Company Law Tribunal, New Delhi, Principal Bench, which rejected New IA-4783/202...

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NCLAT Allows Appeals by Commercial Space Buyers in CIRP of IP Constructions Pvt. Ltd. — Resolution Plan Must Include Allottees' Claims. The Tribunal held that commercial space allottees are 'financial creditors' under Section 5(8)(f) of the Insolvency and Bankruptcy Code, 2016, and their claims must be considered in the resolution plan....

The judgment arises from three appeals filed by commercial space allottees against orders of the National Company Law Tribunal (NCLT), Principal Bench, New Delhi, in the Corporate Insolvency Resolutio...