National Company Law Appellate Tribunal

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National Company Law Appellate Tribunal

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NCLAT Dismisses Appeal by Shareholder Against CIRP Admission — Shareholder Lacks Locus Standi Under Section 61 IBC. The appeal filed by a shareholder against the order admitting a Section 9 petition by an operational creditor was dismissed as the shareholder is not an aggrieved person under Section 61 of the IBC....

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Romi Datta, a shareholder of Sahara Q Shop Unique Products Range Limited (the corporate debtor), agai...

Tribunals

National Company Law Appellate Tribunal Allows Appeal by Suspended Director in Insolvency Case — Section 9 Application Admitted Without Proper Notice Under Section 8 of IBC. The Adjudicating Authority Failed to Consider That the Operational Creditor Had Not Provided Correct Address for Service of Demand Notice, Rendering the Admission Order Unsustainable....

The appeal was filed by Sashi Kanta Jha, a suspended director of the corporate debtor, M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute Ltd.), challenging the order dated 19.01.2024 pass...

Tribunals

NCLAT Dismisses Shareholder's Appeal Against Admission of CIRP for Corporate Debtor Under Section 9 IBC. Pre-Existing Dispute Not Established as Dispute Raised After Demand Notice and Lacking Evidence....

The present appeal was filed by Surendra Sancheti, a shareholder of Altius Digital Private Limited (Corporate Debtor), under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC), challenging t...

Tribunals

NCLAT Dismisses Appeal Against CIRP Initiation by Assignee of Debt — Assignment Deed Valid Without Prior Notice to Corporate Debtor Under Section 5(7) of IBC, 2016. The NCLAT held that an assignee of a debt is a financial creditor under Section 5(7) of IBC, 2016, and notice of assignment to the corporate debtor is not required for maintainability of a Section 7 application....

The case involves an appeal by Rajesh Ravji Patel, suspended director of Vilsons Roofing Product Pvt. Ltd. (Corporate Debtor), against an order of the National Company Law Tribunal, Mumbai Bench, date...

Tribunals

NCLAT Allows Appeal by Central Transmission Utility of India Ltd. Against NCLT Order Restraining Termination of Transmission Service Agreement During CIRP. The Appellate Tribunal held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar termination of a contract for pre-CIRP defaults by the corporate debtor, and that the Resolution Professional cannot compel performance of a contract that has been validly terminated prior to the moratorium....

The appeal was filed by Central Transmission Utility of India Ltd. (CTUIL) against an order of the National Company Law Tribunal (NCLT), Hyderabad, dated 09.10.2020, which restrained CTUIL from termin...

Tribunals

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...

Tribunals

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...

Tribunals

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 ...

Tribunals

NCLAT Allows Section 95 Application Against Personal Guarantor Despite Pending DRT Proceedings — Guarantee Invocation Notice and DRT Recovery Certificate Constitute Debt Under IBC. The NCLAT held that the Adjudicating Authority erred in rejecting the Section 95 application on the ground that the guarantee invocation notice and DRT recovery certificate do not constitute a debt under Section 3(10) of the IBC, 2016....

The National Company Law Appellate Tribunal (NCLAT) heard two appeals filed by IDBI Bank Ltd. against orders of the NCLT, Indore Special Bench, rejecting its Section 95 applications under the Insolven...

Tribunals

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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National Company Law Appellate Tribunal

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NCLAT Dismisses Shareholder's Appeal Against Admission of CIRP for Corporate Debtor Under Section 9 IBC. Pre-Existing Dispute Not Established as Dispute Raised After Demand Notice and Lacking Evidence....

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

Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensation Cases,...

Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Dispute — Upho...

Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Suit for Spec...

Karnataka High Court Examines Revision Against Concurrent Conviction in Cheque Dishonour C...

High Court of Karnataka Hears Petitioners in Food Safety and Standards Act Case Seeking Qu...

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Supreme Court Allows Criminal Appeal Against Acquittal in Dowry Harassment Death Case, Res...

Supreme Court Restores Criminal Appeal Against Acquittal After High Court Dismissed It as ...

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Supreme Court Quashes Domestic Violence Proceedings Against Husband Based on Prior Settlem...