Search Results for "repayment plan"

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Search Results for "repayment plan"

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Supreme Court

Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

23 Jul 2024

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

Supreme Court

Supreme Court Interprets Section 29A(h) of Insolvency and Bankruptcy Code, 2016 Regarding Guarantor Eligibility. The court held that a person who has executed an enforceable guarantee is not disqualified from submitting a resolution plan unless the guarantee has been invoked, as liability crystallizes upon invocation under the amended provisions.

18 Jan 2022

The Supreme Court was called upon to interpret Section 29A(h) of the Insolvency and Bankruptcy Code, 2016, as amended, concerning the eligibility of a...

High Court

Bombay High Court Quashes Reassessment Notice Against Corporate Debtor Under Insolvency Resolution — Income Tax Department Cannot Issue Section 148 Notice After Approval of Resolution Plan Under IBC, 2016. The court held that the moratorium under Section 14 IBC and the binding nature of the resolution plan under Section 31 IBC bar the Income Tax Department from reopening assessments for periods prior to the approval of the plan.

23 Dec 2021

The petitioner, Murli Industries Limited, a corporate debtor undergoing insolvency resolution under the Insolvency and Bankruptcy Code, 2016 (IBC), ch...

Supreme Court

Supreme Court Dismisses Appeal by Dissenting Secured Creditor in Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016. The Court upheld the commercial wisdom of the Committee of Creditors in approving a resolution plan, ruling that consideration of security interest value under Section 30(4) is a guideline not subject to judicial review under Section 61(3), absent unfair treatment within the same class.

13 May 2021

The dispute arose from the corporate insolvency resolution process of VSP Udyog Private Limited, where India Resurgence ARC Private Limited, a secured...

Supreme Court

Supreme Court Dismisses Appeal by Dissenting Financial Creditor in Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016. Approval of Resolution Plan by Committee of Creditors Based on Commercial Wisdom is Not Subject to Judicial Review on Grounds of Security Interest Value Omission, as Per Section 30(4) and Limited Scope Under Section 61(3).

13 May 2021

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016, involving the corporate debtor VSP Udyog Private Limited. The appellan...

Supreme Court

Supreme Court Dismisses Municipal Corporation's Appeal Against Resolution Plan Approval in Insolvency Case — Lease Rights and Statutory Compliance Under IBC and MMC Act Upheld. The Court held that MCGM's written submissions indicating acceptance of the plan constituted consent, and the plan did not violate the MMC Act or the IBC timeline.

15 Nov 2019

The Municipal Corporation of Greater Mumbai (MCGM) appealed under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the order of th...

Supreme Court

Supreme Court Dismisses Municipal Corporation's Appeal Against Resolution Plan Approval in Insolvency Case. Municipal Corporation's Prior Consent to Resolution Plan Precludes Later Objections Under IBC.

15 Nov 2019

The Municipal Corporation of Greater Mumbai (MCGM) appealed against the order of the National Company Law Appellate Tribunal (NCLAT) which had upheld ...

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 Winding Up Petition Against Company for Failure to Repay Convertible Bonds — Debt Admitted and Company Unable to Pay Under Section 433(e) of Companies Act, 1956. The court held that where a debt is admitted and the company is commercially insolvent, a winding up order is justified.

30 Jul 2013

The Bank of New York Mellon, London Branch, as trustee for bondholders, filed a winding up petition under Section 433(e) of the Companies Act, 1956 ag...

Tribunals

NCLAT Dismisses Appeals Against Resolution Professional's Rejection of Late Claims in CIRP. Claims Filed After Deadline Under Section 30 of IBC Cannot Be Entertained by Resolution Professional.

30 Nov -0001

The National Company Law Appellate Tribunal (NCLAT) at Chennai heard three company appeals (Comp App (AT) (CH) (Ins) No. 232/2025, 234/2025, and 236/2...

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