Search Results for "Corporate Insolvency"

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Search Results for "Corporate Insolvency"

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Supreme Court

Supreme Court Dismisses Miscellaneous Application in Special Leave Petition Due to Lack of Maintainability and Independent Nature of Insolvency Proceedings. Post-disposal recall applications are not entertainable except in narrow exceptions, and subsequent developments in insolvency under Section 12A of the Insolvency and Bankruptcy Code, 2016 cannot retroactively affect disposed civil matters.

23 Mar 2026

The dispute originated from an Agreement to Sell dated 13.08.2021 concerning a property in Gurugram, where the applicant sought specific performance t...

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 Dismisses Appeal by Suspended Director Against Admission of Section 7 Application by State Bank of India Against Corporate Debtor. The appeal was dismissed as the appellant lacked standing to challenge the assignment of debt from SBI to NARCL, and the Section 7 application was maintainable based on the debt assigned.

23 Sep 2024

The appeal was filed by Nakul Bharana, a suspended director of Bareilly Highways Project Limited (corporate debtor), challenging the order dated 23.09...

High Court

Supreme Court Allows Operational Creditor's Appeal in Insolvency Claim Delay Matter Applying COVID-19 Limitation Extension. The Court held that the period from 15.03.2020 to 14.03.2021 stands excluded in computing limitation for claim filing under the Insolvency and Bankruptcy Code, 2016, making the appellant's claim filed before 14.01.2021 timely.

29 Nov 2021

The dispute originated from a contractual relationship between GPR Power Solutions Private Limited (appellant) and Rohit Ferro Tech Limited (corporate...

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...

Tribunals

NCLAT Allows Appeals by Commercial Space Buyers in CIRP of IP Constructions Pvt. Ltd. — Resolution Plan Must Include Allottees' Claims. The Tribunal held that commercial space allottees are 'financial creditors' under Section 5(8)(f) of the Insolvency and Bankruptcy Code, 2016, and their claims must be considered in the resolution plan.

30 Nov -0001

The judgment arises from three appeals filed by commercial space allottees against orders of the National Company Law Tribunal (NCLT), Principal Bench...

Tribunals

NCLAT Upholds Preferential Transaction Findings in Insolvency Case — Two Transactions Totaling Rs. 1.60 Crore Held as Preferential Under Section 43 of IBC, 2016. The Tribunal Confirms That Payments Made to Related Parties During the Look-Back Period Are Voidable and Must Be Reversed.

30 Nov -0001

The case involves an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, filed by H.P. Arun Kumar, C.M. Nagaraj, and Usha (Appellants...

Tribunals

NCLAT Allows Fresh Form G to Maximize Asset Value in CIRP of Raigarh Champa Rail Infrastructure Pvt. Ltd. — Challenge Mechanism Under Regulation 39(1A)(b) of IBBI Regulations, 2016 Must Be Conducted Among Existing Resolution Applicants.

30 Nov -0001

The appeal was filed by JM Financial Asset Reconstruction Company Ltd., acting as trustee of Rail December 2024 Trust, challenging the Impugned Order ...

Tribunals

NCLAT Sets Aside Impleadment Order in CIRP Proceedings for Violation of Natural Justice — Corporate Debtor's Director Cannot Be Impleaded Without Notice Under Section 60(5) IBC. The order of impleadment was passed without prior notice to the Appellant, violating principles of natural justice, and was set aside with a remand for fresh consideration.

30 Nov -0001

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, heard an appeal filed by Inkel Limited, represented by its Managing Director, agai...

Tribunals

NCLAT Dismisses Appeal of Operational Creditor in Insolvency Case Due to Defective Demand Notice and Limitation Bar. Section 9 Application Under I&B Code Fails as Date of Default is Later Than Demand Notice and Invoices are Time-Barred.

30 Nov -0001

The Appellant, M/s. Metals and Metal Electric Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Ban...

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