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Search Results for "insolvency proceeding"

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High Court

High Court Quashes NCLT Order for Violation of Natural Justice in Corporate Insolvency Withdrawal Case. The court held that failure to issue notice and serve intervention applications on the suspended director under Rules 34(4) and 37 of the National Company Law Tribunal Rules, 2016, constituted flagrant violation of natural justice, making writ petitions maintainable despite alternative remedy under Section 61 of the Insolvency and Bankruptcy Code, 2016.

26 Mar 2026

The dispute arose from an order dated 09.09.2025 passed by the National Company Law Tribunal (NCLT), Mumbai, which allowed intervention applications b...

High Court

High Court Dismisses Appeal in MPID Act Attachment Case, Upholding Lower Court's Rejection of Stay Application Based on IBC Moratorium. Attachment Proceedings Under Section 8 MPID Act Not Stayed as They Aim to Protect Depositors' Interests, Not Recover Debt, and Do Not Overlap with Insolvency Proceedings Under IBC.

10 Mar 2026

The appeal arose from an order dated 4th November 2023 passed by the Special Judge (MPID), City Civil & Sessions Court, Greater Bombay, rejecting ...

Tribunals

National Company Law Appellate Tribunal Allows Appeal by Suspended Director in Insolvency Case — Section 9 Application Admitted Without Proper Notice Under Section 8 of IBC. The Adjudicating Authority Failed to Consider That the Operational Creditor Had Not Provided Correct Address for Service of Demand Notice, Rendering the Admission Order Unsustainable.

19 Jan 2024

The appeal was filed by Sashi Kanta Jha, a suspended director of the corporate debtor, M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute ...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Involving Corporate Guarantee for Non-Corporate Borrowers. Corporate Insolvency Resolution Process Under Section 7 of Insolvency and Bankruptcy Code, 2016 is Maintainable Against Corporate Person as Guarantor Even When Principal Borrower is Not a Corporate Person, as Default Triggers Financial Debt and Corporate Debtor Status.

6 Sep 2022

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016 (IBC), where the appellant, a promoter and director of Maharaja Theme P...

Supreme Court

Supreme Court Allows Fresh Resolution Process for Corporate Debtor Despite Default by Successful Resolution Applicant. Time Spent in Litigation Excluded to Uphold Maximisation of Asset Value Under Insolvency and Bankruptcy Code, 2016.

1 Dec 2021

The appeal arose from the corporate insolvency resolution process of Amtek Auto Limited, initiated under Section 7 of the Insolvency and Bankruptcy Co...

High Court

High Court of Karnataka Quashes SARFAESI Proceedings Against Company Under CIRP — Resolution Professional Entitled to Possession of Assets. Held that Section 14 of IBC overrides SARFAESI Act and other laws, and the moratorium under IBC bars any proceedings against the corporate debtor's assets.

24 May 2021

The petitioner, M/s. Dreams Infra India Pvt. Ltd., represented by its Resolution Professional Sri Ashok Kriplani appointed by the National Company Law...

High Court

Bombay High Court Dismisses Developer's Maintainability Challenge and Upholds RERA Recovery Certificate in Allottee Refund Case. Real Estate Regulatory Authority Has Power to Issue Recovery Certificate Under Section 40(1) of RERA Act, 2016 for Refund Orders.

9 Mar 2020

The judgment pertains to two connected matters: an Interim Application filed by the developer, Marvel Sigma Homes Pvt. Ltd., challenging the maintaina...

High Court

High Court of Karnataka Dismisses Company Application Seeking Recall of Winding Up Petition Admission Order Against Kingfisher Airlines Limited. Company Court Has No Power to Recall or Review Its Own Order Admitting a Winding Up Petition Under the Companies Act, 1956.

11 Dec 2013

The applicant, Kingfisher Airlines Limited, filed an application under Section 466 of the Companies Act, 1956, seeking recall of the order dated 30.10...

High Court

Bombay High Court Dismisses Appeal Against Committal of Insolvent to Civil Prison Under Section 34 of Presidency Towns Insolvency Act, 1909. Insolvent Removed Properties Without Leave of Official Assignee and Failed to Cooperate, Justifying Committal for Six Months.

14 Oct 2013

The appeal arose from an order of the learned Single Judge directing the Appellant, Rajesh D. Vora, who was adjudged insolvent, to be committed to civ...

Tribunals

NCLAT Allows Appeal by Successful Resolution Applicant Against EPFO Claim for Pre-CIRP Dues, Holding That Resolution Plan Approved Under IBC Is Binding on All Stakeholders Including Statutory Authorities. The tribunal ruled that EPFO's failure to file claim during CIRP results in extinguishment of dues, and the corporate debtor gets a clean slate post-resolution.

30 Nov -0001

The case involves two appeals arising from an order of the National Company Law Tribunal (NCLT), Mumbai Bench, dated 03.07.2024, which allowed an appl...

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