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NCLAT Issues Notice in Appeal Against Rejection of Resolution Plan Approved by 100% CoC Vote. The Tribunal stays liquidation pending hearing, noting that the Resolution Professional and CoC also intend to challenge the same order.

The National Company Law Appellate Tribunal (NCLAT) heard an appeal filed by Deepvir Enterprises & Anr. against an order of the Adjudicating Authority...

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Supreme Court Dismisses Appeals in Insolvency Case Due to Limitation and Mis-statements. NCLAT's Refusal to Condon Delay Upheld as Appellant Failed to Apply for Certified Copies and Made Contradictory Assertions Under Section 61 of Insolvency and Bankruptcy Code, 2016.

The appeals arose from an order dated 18.01.2024 passed by the National Company Law Appellate Tribunal (NCLAT), which dismissed appeals preferred by t...

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High Court of Karnataka Quashes NCLT Order Directing State to Permit Windmill Operations in Insolvency Case. NCLT Exceeded Jurisdiction by Exercising Judicial Review Over Administrative Decision, Following Supreme Court Decision in Embassy Property Developments v. State of Karnataka.

The dispute arose out of insolvency proceedings against M/s Wind World (India) Limited, which held a lease over forest land for operating windmills. T...

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Supreme Court Allows Appellant in Sabka Vishwas Scheme Case Due to Moratorium Under IBC. Payment Delay Caused by Legal Disability Under Section 14 IBC, Designated Committee Directed to Accept Payment and Issue Discharge Certificate Under Finance Act, 2019 Scheme.

The dispute arose from the appellant company's inability to pay a settlement amount of Rs.1,24,28,500/- under the Sabka Vishwas (Legacy Dispute Resolu...

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High Court of Karnataka Declines to Interfere in Tender Award for Ash Handling Plant; Holds Scope of Judicial Review Limited and Finds No Arbitrariness in Awarding Contract to Lowest Bidder Consortium Despite Office Memorandum Barring Chinese Companies.

The writ petition was filed by Macawber Beekay Pvt. Ltd. challenging the notice inviting tender dated 24.06.2022 and the consequent letter of intent i...