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Bombay High Court Sets Aside Insolvency Notice Based on Foreign Judgment — Notice Held Without Jurisdiction as Debt Not Payable Under Indian Insolvency Act. Foreign judgment debt not enforceable under Presidency Towns Insolvency Act, 1909 without satisfying conditions of Section 13 CPC.

The case involves a Notice of Motion filed by the Judgment Debtor, Neville Tuli, seeking to set aside an Insolvency Notice No. N/28 of 2011 issued by ...

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High Court of Judicature at Bombay Dismisses Insolvency Petition Under Presidency-Towns Insolvency Act, 1909 — Debtor Fails to Prove Inability to Pay Debts as Maintenance Order Under Hindu Marriage Act, 1955 Does Not Constitute a Debt Under Insolvency Act

The petitioner, Mehul Jagdish Trivedi, filed an insolvency petition under Section 14 of the Presidency-Towns Insolvency Act, 1909, seeking to be decla...

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Bombay High Court Dismisses Application to Set Aside Insolvency Notice in Debt Recovery Matter — Debt Recovery Tribunal's Decree Constitutes a Final Judgment Under Section 9(2) of Presidency-Towns Insolvency Act, 1909.

The judgment debtor, Deepak Cochhar and another, filed a notice of motion seeking to set aside Insolvency Notice No. N/72 of 2004 issued by the Insolv...

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Supreme Court Upholds NCLAT Decision on Mandatory 75% Voting Share for Resolution Plan Approval Under I&B Code. Financial Creditors' Rejection of Resolution Plan for Kamineni Steel & Power India Pvt. Ltd. and Innoventive Industries Ltd. Leads to Liquidation as Plan Did Not Garner Required Majority.

The Supreme Court of India heard appeals arising from a common judgment of the National Company Law Appellate Tribunal (NCLAT) dated 6 September 2018,...

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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 share...