Search Results for "Parallel CIRP"

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Search Results for "Parallel CIRP"

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Supreme Court

Supreme Court Dismisses Appeals by Liquidators Challenging Benami Act Attachment Orders, Upholds NCLAT Ruling that IBC Authorities Lack Jurisdiction to Entertain Challenges to Benami Act Orders During Insolvency Proceedings

24 Feb 2026

The Supreme Court dismissed a batch of civil appeals filed by liquidators challenging provisional attachment orders issued under the Prohibition of Be...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Recall Application in IBC Case — Parallel CIRP Commencement Renders Proceedings Infructuous. The Corporate Debtor's recall application was rejected as the main petition under Section 7 of IBC became infructuous due to initiation of CIRP in a parallel proceeding by an Operational Creditor.

3 Sep 2025

The Appellant, M/s. Devi Engineering & Construction Private Limited, was the Corporate Debtor in proceedings under CP (IB) No. 1/7/AMR/2025 initiated ...

Tribunals

NCLAT Dismisses Appeal Against CIRP Admission Due to 45-Day Delay Without Sufficient Cause Under Section 61(2) of IBC. The appeal against admission of corporate debtor into CIRP was dismissed as time-barred, with the court holding that the delay of 45 days beyond the statutory period was not satisfactorily explained.

18 Dec 2024

The judgment pertains to two connected company appeals filed by Kalyan Muppaneni, the suspended director and founder shareholder of M/s. Pi Data Cente...

High Court

Bombay High Court Allows Withdrawal of Appeal and Release of Deposited Amount in Insolvency Case — Moratorium Under Section 14 IBC Bars Enforcement Against Corporate Debtor's Assets. The cash deposit made by the corporate debtor in court is an asset belonging to the corporate debtor, and the resolution professional is entitled to its release for the resolution process.

13 Nov 2024

The Bombay High Court allowed an application filed by the Resolution Professional of Siti Networks Ltd. (corporate debtor) seeking withdrawal of Appea...

Tribunals

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.

19 Jan 2024

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 P...

High Court

Bombay High Court Dismisses Petition Challenging Demolition Order for Unauthorized Commercial Construction. Court upholds MCGM's action under Section 351 of the Mumbai Municipal Corporation Act, 1888 for building without valid permission and in violation of development plan reservations.

21 Sep 2023

The petitioners, Kamla Industrial Park Ltd and Metallica Industries Ltd, challenged the demolition notice and stop-work notice issued by the Municipal...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Limitation Dispute, Upholding NCLAT's Remand for Admission After Notice. The Court held that limitation for applications under Sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 runs from the date of default, not the Code's enforcement, and delay can be condoned under Section 5 of the Limitation Act, 1963 upon showing sufficient cause.

19 Sep 2022

The appeal arose from a dispute between M/s Tech Sharp Engineers Pvt. Ltd. (appellant/corporate debtor) and Sanghvi Movers Limited (respondent/operati...

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.

30 Jun 2021

The appeal was filed by Central Transmission Utility of India Ltd. (CTUIL) against an order of the National Company Law Tribunal (NCLT), Hyderabad, da...

High Court

Bombay High Court Allows Resolution Professional to Continue CIRP Under IBC Despite Pending Winding-Up Petition Under Companies Act, 1956. Leave under Section 446 of Companies Act, 1956 granted to proceed with Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016.

2 Nov 2018

The judgment concerns Company Application No. 10 of 2017 filed by the Resolution Professional of Murli Industries Limited (the corporate debtor) under...

Tribunals

NCLAT Chennai Dismisses Appeal Against CIRP Initiation for Agricultural Loan Default — Limitation Period for Section 7 Application Computed from Date of Default in Repayment Schedule, Not from Date of NPA Classification. The date of default under Section 7 of IBC is the date when the debt became due as per the repayment schedule, and the application filed within three years from the last repayment schedule is within limitation.

30 Nov -0001

The appeal was filed by Kurien Thomas, the suspended director of Koravampady Estates and Enterprises Private Limited (the Corporate Debtor), against t...

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