Search Results for "operational creditors"

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Search Results for "operational creditors"

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Tribunals

National Company Law Appellate Tribunal Allows Appeals by Appellant Creditor in IBC Case -- Sets Aside Orders Directing Appellant to Approach GIDC Appellate Authority and Remitting Resolution Plan -- Termination of Lease During Moratorium Held Invalid Under Section 14 of IBC

21 Mar 2025

The National Company Law Appellate Tribunal (NCLAT) allowed two appeals filed by the Resolution Professional (RP) and the largest financial creditor o...

Tribunals

NCLAT Allows Appeal for Non-Compliance of Section 24(3)(c) IBC — Mandatory Notice to Operational Creditor for COC Meetings. Compliance of Section 24(3)(c) of Insolvency and Bankruptcy Code, 2016 held mandatory as per Supreme Court judgment in Greater Noida Industrial Development Authority v. Prabhjit Singh Soni.

14 Nov 2024

The case involves an appeal by Binjusaria Ispat Pvt Ltd, an operational creditor of Abhirama Steels Ltd, against an order dated 17.09.2024 passed by t...

Tribunals

NCLAT Allows Section 95 Application Against Personal Guarantors in IBC Case — Limitation Period for Filing Application Under Section 95 Commences from Date of Default in Demand Notice Under Guarantee Contract, Not from Date of NCLT Order Admitting Corporate Debtor. The court held that the limitation for filing an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 against a personal guarantor runs from the date of default in the demand notice under the guarantee contract, and not from the date of the NCLT order admitting the corporate debtor.

22 Oct 2024

The National Company Law Appellate Tribunal (NCLAT) at Chennai, by a common judgment dated 22.10.2024, allowed two appeals filed by the State Bank of ...

Supreme Court

Supreme Court Allows Appeals by Government of Odisha and TPG Equity Management in Mining Lease Renewal Dispute — Directs High Powered Committee to Decide on Renewal of Three Mining Leases Within Three Months. The court upheld the direction for formation of a High Powered Committee comprising representatives of the Central Government, Government of Odisha, and Odisha Mineral Development Company Ltd to decide on renewal of three mining leases within three months, after hearing TPG Equity Management Private Ltd.

17 May 2024

The case involves a dispute over the renewal of three mining leases (Kolha-Roida, Thakurani, and Dalki) originally granted to Bird and Company Limited...

Supreme Court

Supreme Court Directs NCLT to Expedite Approval of Resolution Plan in Home Buyers' Insolvency Case, Upholding IBC Moratorium. Execution of Consumer Forum Order Stayed Under Section 14 of Insolvency and Bankruptcy Code, 2016, with Personal Liability Issues Referred to Adjudicating Authority.

8 Sep 2021

The dispute involved home buyers who had entered into agreements with a developer for a housing project, with possession due in 2014. The developer ab...

Supreme Court

Supreme Court Allows Appeal Against High Court Order Unfreezing Bank Account in Insolvency Fraud Case. High Court's Interim Relief Quashed as It Overlooked Prima Facie Violation of Moratorium Under Section 14 of Insolvency and Bankruptcy Code, 2016, and NCLT Directions Regarding Unauthorized Transactions During Corporate Insolvency Resolution Process.

22 Apr 2021

The appeal arose from an order of the High Court of Guwahati dated 04.02.2021, which allowed an interlocutory application by Respondent No.1, JSVM Ply...

High Court

Bombay High Court Dismisses Appeal Against Order in Specific Performance Suit — Concurrent Findings of Fact Not Interfered With. Court upholds trial court's refusal to grant specific performance of agreement to sell as plaintiffs failed to prove readiness and willingness to perform their part of contract under Section 16(c) of Specific Relief Act, 1963.

22 Oct 2019

The dispute pertains to a suit for specific performance of an agreement to sell dated 18-04-2005 concerning agricultural land bearing Khasara No.40, P...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Due to Limitation Bar — Winding Up Petition Filed Beyond Three Years from Default Date Cannot Be Revived Under IBC. The Court held that a time-barred winding up petition under the Companies Act, 1956 cannot be treated as a valid Section 7 application under the IBC, and the filing of a suit for specific performance does not extend limitation for a winding up petition.

25 Sep 2019

The Supreme Court considered appeals arising from the admission of a winding up petition under the Insolvency and Bankruptcy Code, 2016 (IBC). The pet...

Supreme Court

Supreme Court Remands Oppression Petition in Share Allotment Dispute Under Sections 397/398 of Companies Act, 1956 — Preference Shareholder's Voting Rights and Validity of Allotments Require Reconsideration. The Court held that the allotments were made in compliance with Section 81(1A) but the High Court failed to properly assess the allegations of oppression, necessitating a fresh hearing by the Company Law Board.

10 May 2019

The appeal arose from a judgment of the Delhi High Court which set aside an order of the Company Law Board (CLB) in a petition under Sections 397 and ...

Tribunals

NCLAT Allows Appeal Against NCLT Order Dismissing Section 7 Application as Abated Due to Death of Corporate Debtor's Director. The Tribunal held that the death of a director does not abate proceedings under the Insolvency and Bankruptcy Code, 2016, and the Resolution Professional can continue the process.

30 Nov -0001

The appeal arises from an order of the National Company Law Tribunal (NCLT), Bengaluru Bench, dated 30.12.2019, which dismissed IA No.47/2019 in CP(IB...

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