National Company Law Appellate Tribunal

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NCLAT Dismisses Appeals Against Admission of Personal Insolvency Application Under Section 95(1) IBC — Guarantors' Challenge Fails Due to Debt Acknowledgment and Lack of Objection Before NCLT. The Tribunal held that the appeals were not maintainable as the appellants had acknowledged the debt and failed to raise any dispute before the Adjudicating Authority, and no infirmity was found in the impugned order....

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, delivered a common judgment in two connected appeals filed by Mr. Rajesh Bhatia and Mr. Ashwani Kumar Bhatia against Canara Bank and...

Tribunals

NCLAT Dismisses Appeal by Financial Creditor Against Dismissal of Section 95 Petition Due to Existing Moratorium Under Section 96 IBC — Prior Initiation of Personal Insolvency by Another Creditor Bars Subsequent Petitions Against Same Personal Guarantor...

The appellant, Indian Bank, a Financial Creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 against the respondent, T. Prabhakar, who was the Personal Guarantor of ...

Tribunals

NCLAT Hears Appeal Against NCLT Order in Byju's Insolvency Case — NCLT Set Aside CoC Reconstitution and Reclassification of Creditor. Appeal Filed by Suspended Director and Promoter Under Section 61 of IBC Challenges Validity of NCLT Directions....

The appeal was filed by Byju Raveendran, the suspended director and promoter of M/s Think and Learn Pvt. Ltd., under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging the order of th...

Tribunals

NCLAT Larger Bench Holds Shareholder/Promoter is an 'Aggrieved Person' Under Section 61 IBC and Has Locus to Challenge Section 7 Admission Order. The reference resolves conflicting views on maintainability of appeal by shareholder against admission of insolvency petition....

The National Company Law Appellate Tribunal (NCLAT) Chennai Bench, in a larger bench of three members, addressed a reference question: whether a shareholder/promoter is an 'aggrieved person' under Sec...

Tribunals

NCLAT Dismisses Liquidator's Appeal Seeking Return of Bank Guarantees and Margin Money Post-Invocation. Bank Guarantee Invocation Extinguishes Both Margin Money and Bank's Liability, Liquidator Cannot Claim Refund....

The case involves an appeal by Mr. Rajendra Prasad Tak, the Liquidator of M/s. KVK Nilachal Power Pvt. Ltd. (Corporate Debtor), against an order of the NCLT, Hyderabad Bench dated 13.04.2023. The Corp...

Tribunals

NCLAT Dismisses Appeal Against Dismissal of Intervention Application in Liquidation Proceedings. Pendency of Intervention Application Does Not Impede Liquidation Under Section 33(2) of IBC, 2016....

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, delivered a judgment in Company Appeal (AT) (CH) (Ins) No.47/2025, arising from an order of the Adjudicating Authority (National Com...

Tribunals

NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016....

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution plan for Sical Logistics Limited. RBL Bank, a financi...

Tribunals

NCLAT Dismisses Appeal Against Liquidation Order in Insolvency Case — Appellant Failed to Show Viable Revival Plan or Error in Impugned Order. Corporate Debtor's Liquidation Upheld as No Resolution Plan Was Received and Appellant's Offer Was Not a Valid Plan Under IBC....

The case involves an appeal filed by P. Naveen Chakravarthy (the appellant) against an order dated 27.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Chennai) in IA/587/IB...

Tribunals

NCLAT Dismisses Appeal Against Approval of Resolution Plan for Lack of Standing — Appellant Not an Aggrieved Person Under Section 61 of IBC, 2016. The appellant, not being a party to the CIRP and whose claim was not admitted, lacks locus standi to challenge the order approving the resolution plan....

The case involves an appeal filed by Boorugu Infra Projects Private Limited in consortium with Vishwanath Projects Limited against the order of the National Company Law Tribunal (NCLT) approving a res...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Section 9 Application Due to Pre-existing Dispute and Limitation. Operational Creditor's claim for work done under contract held to be time-barred and disputed, warranting dismissal under Section 9 of Insolvency and Bankruptcy Code, 2016....

The appeal arises from the dismissal of a Section 9 application under the Insolvency and Bankruptcy Code, 2016 (IBC) by the National Company Law Tribunal (NCLT), Chennai, on 20.03.2024. The Appellant,...

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