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NCLAT Dismisses Appeal of Homebuyer Seeking Late Claim Filing in CIRP — Resolution Plan Approved Prior to Claim Filing Cannot Be Reopened. Homebuyer's claim filed after CoC approval of resolution plan was rightly rejected by RP as per IBC Regulations.

The case involves an appeal filed by Sonia Kapoor, an allottee of a unit (A-1-104) in a real estate project of Dream Procon Pvt. Ltd. (Corporate Debto...

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NCLAT Chennai Dismisses Appeals by Suspended Directors Against CIRP Initiation Under IBC — Limitation Period for Section 7 Application Computed from Date of Default, Not Date of NPA Classification. Acknowledgment of Debt in Balance Sheets Extends Limitation Under Section 18 of Limitation Act.

The judgment pertains to two appeals filed by suspended directors of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against t...

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NCLAT Allows Settlement in IBC Section 9 Case, Keeps Admission Order in Abeyance. Appellant directed to deposit Rs. 1 crore with CoC and file Section 12A application within three weeks.

The appeal was filed by Vyanka Tesh Kulkarni, the suspended director of Manas Vyapar Pvt. Ltd., against an order dated 29.10.2024 passed by the Adjudi...

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NCLAT Dismisses Appeal as Time-Barred in Insolvency Matter Due to 244-Day Delay Without Sufficient Cause. Condonation of Delay Refused as Appellant Failed to Provide Adequate Explanation for the Delay in Filing Appeal Under Section 61 of Insolvency and Bankruptcy Code, 2016.

The National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi, heard an application for condonation of delay in filing an appeal unde...

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Supreme Court Quashes NCLT Approval and NCLAT Judgment in Bhushan Power CIRP, Remands for Fresh Resolution Plan. Approved Plan Set Aside Due to Inordinate Delay, Illegal Extension Clause, Waterfall Violation, and Non-Compliance with IBC Provisions Including Sections 30, 31, and 53.

The Supreme Court adjudicated a batch of civil appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the approval of ...

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High Court of Karnataka Hears Batch of Writ Petitions Challenging Late Filing Fee Under Section 234E of Income Tax Act. Petitioners Seek Declaration that Section 234E is Unconstitutional and Violative of Articles 14, 265, and 277.

This batch of writ petitions was filed before the High Court of Karnataka under Articles 226 and 227 of the Constitution of India challenging the cons...