Search Results for "Financial Creditors"

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Search Results for "Financial Creditors"

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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...

Supreme Court

Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

27 Feb 2026

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...

Supreme Court

Supreme Court Dismisses Appeal in MSME Arbitration Execution Dispute, Upholding High Court's Ruling on Nullity Plea and Jurisdiction. Arbitral Award Remains Executable Despite Insolvency Resolution Plan Approving Claim at Nil, as Facilitation Council's Jurisdiction Not Extinguished Under Section 31 Insolvency and Bankruptcy Code, 2016.

21 Apr 2025

The appeal arose from a dispute under the Micro, Small and Medium Enterprises Development Act, 2006 (MSME Act), where the respondent filed claim petit...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

12 Feb 2024

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...

Supreme Court

Supreme Court Dismisses Appeal in Dishonour of Cheque Case Under Negotiable Instruments Act, 1881 Despite Insolvency Proceedings. Criminal Liability Under Section 138 Negotiable Instruments Act, 1881 Continues Simultaneously with Insolvency Resolution Under Insolvency and Bankruptcy Code, 2016 as Proceedings are Penal and Not Covered by Moratorium Under Section 14.

15 Mar 2023

The dispute arose from a dishonoured cheque issued by M/s Rainbow Papers Limited, a company, to Tourism Finance Corporation of India Limited, a public...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

Supreme Court

Supreme Court Allows Appeal Against NCLAT Modification of Resolution Plan in IBC Case — Discrimination Between Financial Creditors Not Established. The Court held that the NCLAT erred in modifying the resolution plan approved by the NCLT under Section 30(2)(e) of the Insolvency and Bankruptcy Code, 2016, as the differential treatment of a dissenting financial creditor was not discriminatory.

8 Nov 2019

The case involves an appeal by Rahul Jain, the resolution applicant, against the order of the National Company Law Appellate Tribunal (NCLAT) modifyin...

High Court

Bombay High Court Allows Debenture Trustee's Claim for Payment from Suit Amount Held by Court Receiver in Priority Over Assignee of Decree. The court held that an assignee of a decree steps into the shoes of the assignor and cannot claim priority over the original decree holder who is a debenture trustee.

23 Nov 2016

The dispute arose from a suit filed by ICICI Bank Ltd. (plaintiff) as debenture trustee for holders of 15% non-convertible debentures issued by Pal Pe...

High Court

Bombay High Court Dismisses Section 9 Arbitration Petition and Winding Up Petition Against Corporate Debtor — No Prima Facie Case for Interim Relief or Insolvency as CDR Scheme Was Under Consideration and Debt Was Not Clearly Due.

6 Jul 2015

The petitioner, Tata Capital Financial Services Ltd., a non-banking financial company, granted a term loan of Rs. 50 crores to the first respondent, U...

Tribunals

NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

30 Nov -0001

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...

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