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Search Results for "operational creditor"

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Supreme Court

Supreme Court Validates NCLAT's Ruling on Financial Debt Classification under IBC. Global Credit Capital Limited and others deemed financial creditors in Mount Shivalik Industries Ltd. insolvency case.

25 Apr 2024

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT), confirming that the appellants are financial creditors u...

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...

Tribunals

NCLAT Dismisses Appeal by Suspended Director Against Admission of Section 9 Application by Operational Creditor. Pre-existing Dispute Not Established as Operational Creditor's Claim for Refund of Advance Payment Was Not Disputed Prior to Demand Notice Under Section 8 of Insolvency and Bankruptcy Code, 2016.

25 Apr 2025

The appeal was filed by Bhawani Prasad Mishra, a suspended director of B.S. Ispat Pvt. Ltd. (Corporate Debtor), challenging the order dated 26.03.2025...

Tribunals

NCLAT Sets Aside CIRP Initiation Against Corporate Debtor Due to Suppression of Payments by Operational Creditor — Section 9 Petition Under IBC Fails Minimum Threshold Requirement. The Tribunal remanded the matter for fresh consideration after finding that the Operational Creditor suppressed payments of approximately Rs. 11 lakhs, which if considered would reduce the debt below the Rs. 1 crore threshold under Section 4 of the Insolvency and Bankruptcy Code, 2016.

30 Nov -0001

The appeal was filed by Aquarius H2O Dynamics Private Limited (Corporate Debtor) against an order dated 29.11.2024 of the National Company Law Tribuna...

Supreme Court

Supreme Court Dismisses Operational Creditor's Appeal in Insolvency Case Due to Limitation and Pre-existing Dispute. Application Under Section 9 of Insolvency and Bankruptcy Code, 2016 Barred as Cause of Action Accrued in 2011-2012 and Dispute Over Gas Supply Existed, Excluding Suspension Period Under Sick Industrial Companies (Special Provisions) Act, 1985 Not Applicable.

4 Jan 2023

The appeal arose from the dismissal of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the National Company Law Tribunal...

Tribunals

NCLAT Dismisses Appeal of Operational Creditor in IBC Section 9 Case — Pre-Existing Dispute Regarding Quality of Services Bars CIRP Initiation. The dispute regarding quality of transportation services raised by the Corporate Debtor prior to the demand notice constitutes a pre-existing dispute under Section 9 of the Insolvency and Bankruptcy Code, 2016, and the Adjudicating Authority correctly dismissed the application.

4 Sep 2024

The appeal was filed by Union Roadways Limited (Operational Creditor) against Ice Steel 1 Private Limited (Corporate Debtor) under Section 61 of the I...

Supreme Court

Supreme Court Dismisses Appeal by Suspended Directors in Insolvency Case on Maintainability and Limitation Grounds. Application under Section 7 of Insolvency and Bankruptcy Code, 2016 Filed by Power of Attorney Holder is Maintainable and Not Barred by Limitation Due to Acknowledgments Extending Period Under Section 18 of Limitation Act, 1963.

30 Sep 2021

The dispute arose from an application filed by Union Bank of India (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 ag...

Supreme Court

Supreme Court Upholds NCLAT Order in Insolvency Resolution Plan Approval Under Insolvency and Bankruptcy Code, 2016. Resolution Plan Found Compliant with Section 30(2) and Binding on All Stakeholders Despite Pending Creditor Claim Challenges.

10 Aug 2021

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016, against a judgment dated 4 January 2021 of the National Company Law App...

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...

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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