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Search Results for "NCLT Chennai"

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High Court

Madras High Court Dismisses Writ Petition Challenging NCLT Order Admitting CIRP Against Corporate Debtor — Default and Debt Admitted, No Ground for Interference Under Article 226. The court held that the existence of debt and default is sufficient for admission under Section 7 IBC, and the writ petition is not maintainable due to alternative remedy under Section 61 IBC.

23 Jan 2025

The writ petition was filed by Dharamshi K. Patel and Kamala D. Patel, shareholders and suspended directors of Evershine Wood Packaging Private Limite...

Tribunals

NCLAT Upholds Sale of Corporate Debtor as Going Concern in Liquidation — Confirms Immunity Under Section 32A IBC. Liquidator's Application for Confirmation of Sale and Immunity Allowed Despite Objections from Suspended Directors.

27 Sep 2024

The appeal arose from a common order dated 27.09.2024 passed by the NCLT, Chennai, in IA(IBC)/415/2024, IA(IBC)/1701/2023, and IA(IBC)/1757/2023 in th...

Tribunals

NCLAT Allows Personal Guarantors' Appeals Against NCLT Order Dismissing Recall Applications in Section 95 IBC Insolvency Proceedings. The admission orders were passed without hearing the guarantors, violating natural justice, and the matters were remanded for fresh consideration.

19 Jul 2024

The case involves five appeals filed by personal guarantors (Tummala Sri Ganesh, Tummala Yugandhar, and others) against an order dated 19.07.2024 pass...

Supreme Court

Supreme Court Allows Appeal in IBC Limitation Dispute — Time for Filing Appeal Runs from Date of Uploading of Order, Not from Date of Pronouncement. NCLAT Erred in Computing Limitation from Date of Pronouncement Without Considering Date of Uploading Under Section 61(2) of Insolvency and Bankruptcy Code, 2016.

1 May 2023

The appeal arises under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) from a judgment dated 9 January 2023 of the National Company Law ...

Supreme Court

Supreme Court Allows Promoter's Appeal in IBC Withdrawal Case — Commercial Wisdom of Committee of Creditors Cannot Be Overridden by NCLT/NCLAT. Settlement Plan Approved by 94.23% Voting Share Under Section 12A of Insolvency and Bankruptcy Code, 2016 Must Be Respected.

28 Jan 2022

The case involves appeals by Vallal RCK, the promoter of M/s Siva Industries and Holdings Limited (Corporate Debtor), against the common judgment of t...

Tribunals

NCLAT Allows Appeal by Central Transmission Utility of India Ltd. Against NCLT Order Restraining Termination of Transmission Service Agreement During CIRP. The Appellate Tribunal held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar termination of a contract for pre-CIRP defaults by the corporate debtor, and that the Resolution Professional cannot compel performance of a contract that has been validly terminated prior to the moratorium.

30 Jun 2021

The appeal was filed by Central Transmission Utility of India Ltd. (CTUIL) against an order of the National Company Law Tribunal (NCLT), Hyderabad, da...

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...

Supreme Court

Supreme Court Allows Filing of Revised Income Tax Returns After Due Date in Amalgamation Case — Holds That NCLT-Approved Scheme Overrides Procedural Timelines Under Income Tax Act. Clause 64(c) of the Scheme Permitting Revised Returns Has Statutory Force and Department Cannot Reject Them as Invalid.

18 Dec 2019

The Supreme Court allowed the appeals filed by M/s Dalmia Power Limited and M/s Dalmia Cement (Bharat) Limited against the judgment of the Division Be...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Due to Bar of Limitation — Claim Under Section 7 IBC Held Time-Barred as Debt Arose Before 2006 and Application Filed in 2018. The court held that the Limitation Act applies to IBC proceedings and the application was filed beyond three years from the date of default.

2 Sep 2019

The Supreme Court allowed the appeal filed by M/s Radha Exports (India) Pvt. Limited against the judgment of the National Company Law Appellate Tribun...

Tribunals

NCLAT Clarifies Certified Copy Requirement for Filing Appeal Under Section 61 of IBC, 2016. The court held that an uncertified copy can be filed, but limitation runs from receipt of certified copy.

30 Nov -0001

This judgment arises from a reference made to a single member bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai due to a dissent...

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