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Search Results for "section 7"

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Tribunals

NCLAT Allows Appeal Against Admission of CIRP Due to Discharge of Debt Through One-Time Settlement. Financial Debt Found to Be Fully Satisfied Prior to Filing of Section 7 Application Under Insolvency and Bankruptcy Code, 2016.

3 Jul 2025

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Puneet Resutra, the erstwhile Director and Shar...

Tribunals

NCLAT Dismisses Appeal Against NCLT Order Refusing Amendment in Section 7 IBC Proceedings — Amendment Sought After Completion of Pleadings and Prior to Admission Not Permitted as It Would Change Nature of Proceedings.

30 Apr 2025

The case involves an appeal filed by Vasavai Power Services Pvt. Ltd. (Corporate Debtor) against an order of the National Company Law Tribunal (NCLT),...

Tribunals

NCLAT Dismisses Appeals Against Admission of Section 7 IBC Application for Default Under Debenture Trust Deed. Financial Capacity and Project Completion Not Grounds to Interfere with Admission Order.

27 Mar 2025

The National Company Law Appellate Tribunal (NCLAT) heard two appeals (Comp. App. (AT) (Ins) No. 517 and 518 of 2025) filed by Udaivir Anand and Santo...

Tribunals

NCLAT Allows Settlement and Disposes of Appeal Against CIRP Admission Under Section 7 of IBC. The appeal against admission of corporate debtor into CIRP was settled between the director and the financial creditor, leading to setting aside of the NCLT order.

1 Oct 2024

The case involves an appeal filed by Smt. Kandala Vijaya, Director of the suspended board of Deepika Infratech Private Limited, against an order dated...

Tribunals

NCLAT Allows Appeal and Sets Aside Insolvency Admission After Full Deposit of Debt Amount. Corporate Insolvency Resolution Process Initiated for Debt of Rs.29,36,840/- Set Aside as Appellant Deposited Entire Amount and Parties Agreed to Settle.

5 Jul 2024

The appeal was filed by Inteco Melting and Casting Technologies GMBH against the order dated 20.05.2022 passed by the Adjudicating Authority admitting...

High Court

Bombay High Court Allows Writ Petition Challenging Revisional Order Under Maharashtra Restoration of Lands to Scheduled Tribes Act, 1974 — Limitation Period for Suo-Motu Revision Not Specified, But Power Must Be Exercised Within Reasonable Time. Revisional Authority Initiated Proceedings After 17 Years, Which Was Held Unreasonable and Unsustainable Under Section 7 of the Act.

5 Aug 2016

The petitioner, Bajirao Jivanrao Patil, was the purchaser of agricultural land from Rupchand Chindhu Patil, whose predecessor-in-title had purchased t...

Tribunals

NCLAT Chennai Dismisses Appeals by Suspended Directors Against CIRP Initiation Under IBC — Limitation Period for Section 7 Application Computed from Date of Default, Not Date of NPA Classification. Acknowledgment of Debt in Balance Sheets Extends Limitation Under Section 18 of Limitation Act.

30 Nov -0001

The judgment pertains to two appeals filed by suspended directors of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against t...

Tribunals

NCLAT Chennai Dismisses Appeal Against CIRP Initiation for Agricultural Loan Default — Limitation Period for Section 7 Application Computed from Date of Default in Repayment Schedule, Not from Date of NPA Classification. The date of default under Section 7 of IBC is the date when the debt became due as per the repayment schedule, and the application filed within three years from the last repayment schedule is within limitation.

30 Nov -0001

The appeal was filed by Kurien Thomas, the suspended director of Koravampady Estates and Enterprises Private Limited (the Corporate Debtor), against t...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Section 7 Application for CIRP — Claimants Failed to Prove Debt and Default. The Tribunal held that the Appellants did not establish the existence of a financial debt or default, and the application was barred by limitation.

30 Nov -0001

The present appeal was filed by Vistra ITCL (India) Limited, Pratiti Trading Private Limited, and Gajendra Investment Limited (Appellants) against the...

Tribunals

NCLAT Allows Appeal Against NCLT Order Dismissing Section 7 Application as Abated Due to Death of Corporate Debtor's Director. The Tribunal held that the death of a director does not abate proceedings under the Insolvency and Bankruptcy Code, 2016, and the Resolution Professional can continue the process.

30 Nov -0001

The appeal arises from an order of the National Company Law Tribunal (NCLT), Bengaluru Bench, dated 30.12.2019, which dismissed IA No.47/2019 in CP(IB...

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