National Company Law Appellate Tribunal

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NCLAT Dismisses Appeal by Suspended Director Against Admission of Section 9 Petition for Manpower Supply Services. Operational Creditor's claim upheld as debt and default were established, and no pre-existing dispute existed....

The appeal was filed by a suspended director of Sahara Hospitality Ltd. (Corporate Debtor) against the order of the National Company Law Tribunal, Mumbai Bench, admitting a Section 9 application filed...

Tribunals

NCLAT Dismisses Appeal Against NCLT Order Closing Section 9 Application After Full Payment of Principal Amount. Consent Terms Not Adhered to Does Not Revive Insolvency Petition When Entire Principal and Substantial Interest Paid....

The appeal was filed by United Futuristic Trade Impex Pvt. Ltd. (the Operational Creditor) against an order dated 22.01.2025 passed by the NCLT, Jaipur Bench, which closed its Section 9 application un...

Tribunals

NCLAT Dismisses Appeal as Time-Barred in Insolvency Matter Due to 244-Day Delay Without Sufficient Cause. Condonation of Delay Refused as Appellant Failed to Provide Adequate Explanation for the Delay in Filing Appeal Under Section 61 of Insolvency and Bankruptcy Code, 2016....

The National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi, heard an application for condonation of delay in filing an appeal under Section 61 of the Insolvency and Bankruptcy Code...

Tribunals

NCLAT Chennai Dismisses Appeals Against CIRP Initiation by State Bank of India for Non-Payment of Loan Guarantee. Personal Guarantors' Appeals Dismissed as Withdrawn, Upholding Adjudicating Authority's Order Admitting Section 95 Application Under IBC....

The National Company Law Appellate Tribunal (NCLAT) Chennai bench heard four connected appeals filed by personal guarantors—Ajay Agarwal, Ashok Agarwal, Ankit Agarwal, and Anitha Agarwal—against a...

Tribunals

NCLAT Dismisses Indian Bank's Appeals in Insolvency Case — Income Tax Refund Held as Part of Corporate Debtor's Assets, Not Subject to Set-off by Bank. The Tribunal upheld the liquidator's right to recover the refund amount, ruling that the bank's claim of set-off under Section 14 of IBC was not maintainable after moratorium....

The National Company Law Appellate Tribunal (NCLAT) dismissed two appeals filed by Indian Bank challenging orders dated 19.12.2024 passed by the National Company Law Tribunal (NCLT), Mumbai Bench, Cou...

Tribunals

NCLAT Allows Secured Creditor's Appeal Against Contribution Order in IBC Liquidation — Secured Creditor Realizing Security Under Section 52 Not Liable to Contribute to Workmen's Dues or Liquidation Costs. The court held that the waterfall mechanism under Section 53 IBC does not apply to secured creditors who opt out of the liquidation process, and Section 226(1)(b) of Companies Act, 2013 is inapplicable....

The appeal was filed by Cosmos Co-Operative Bank Ltd., a secured creditor of Pandit Automotive Pvt. Ltd. (corporate debtor), challenging an order of the NCLT Mumbai dated 14.11.2024. The corporate deb...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Section 9 Petition Due to Pre-Existing Dispute and Section 10A Bar. Operational Creditor's Claim Time-Barred and Default Occurred During Prohibited Period Under IBC....

The appeal was filed by Royal Construction (Operational Creditor) against the order of the National Company Law Tribunal, Mumbai Bench, which dismissed its Section 9 application under the Insolvency a...

Tribunals

NCLAT Dismisses Appeal of Successful Auction Purchaser in IBC Liquidation Sale Dispute — Clarification of Sale Certificate Rejected. The Appellate Tribunal held that the Liquidator's issuance of sale certificate without mentioning the date of handing over possession does not entitle the auction purchaser to seek modification of the certificate after confirmation of sale....

The appellant, M/s. Sri Vethaa Dairy Private Limited, was the successful auction purchaser in the liquidation process of M/s. GHO Agro Private Limited, conducted by the Liquidator, Jayashree S Iyer. T...

Tribunals

NCLAT Allows Personal Guarantor's Appeal in Insolvency Case — Remands for Fresh Consideration of Section 94 Application. The Tribunal held that the Adjudicating Authority erred in dismissing the CP without considering the merits of the application under Section 94 of the Insolvency and Bankruptcy Code, 2016....

The present appeal was filed by Syed Sirajis Salikin Khadri, the personal guarantor of Infra Dredge Services Private Limited, against an order dated 09.12.2024 passed by the National Company Law Tribu...

Tribunals

NCLAT Dismisses Appeal of BEST Undertaking Against Liquidator's Rejection of Interest Claim and Secured Creditor Status in Liquidation of Spark Green Energy. Interest-Free Deposit Does Not Attract Interest, and Unregistered Charge Does Not Confer Secured Status Under IBC....

The appeal was filed by Brihanmumbai Electricity Supply and Transport Undertaking (BEST) against an order of the Adjudicating Authority (NCLT Mumbai Bench-II) dated 25.10.2024, which upheld the Liquid...

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