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Search Results for "insolvency appeal"

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Tribunals

NCLAT Allows Appeal by Financial Creditor in Insolvency Case — Loan Agreement and Default Proven, Adjudicating Authority Erred in Rejecting Application Under Section 7 of IBC, 2016. Loan advanced by NBFC to Corporate Debtor under Facility Agreement constitutes financial debt under Section 5(8) IBC, and Section 7 application filed within limitation period must be admitted.

3 Jul 2025

The present appeal was filed by M/s Lok Sewak Leasing & Investment Pvt. Ltd., a Non-Banking Financial Company (NBFC) registered with the Reserve Bank ...

Tribunals

NCLAT Chennai Dismisses Appeals Against CIRP Initiation by State Bank of India for Non-Payment of Loan Guarantee. Personal Guarantors' Appeals Dismissed as Withdrawn, Upholding Adjudicating Authority's Order Admitting Section 95 Application Under IBC.

17 Mar 2025

The National Company Law Appellate Tribunal (NCLAT) Chennai bench heard four connected appeals filed by personal guarantors—Ajay Agarwal, Ashok Agar...

Tribunals

NCLAT Dismisses Appeal Against NCLT Order Refusing Recall of CIRP Admission Order. Recall Application Under Rule 11 of NCLT Rules, 2016 Not Maintainable as It Seeks Review of Merits, Not Correction of Clerical Error or Fraud.

1 Jan 2025

The appellant, RCC E-Construct Pvt. Ltd., filed a Company Appeal before the National Company Law Appellate Tribunal (NCLAT), Chennai, challenging the ...

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 Dismisses Appeal by Suspended Director Against Admission of Section 7 Application by State Bank of India Against Corporate Debtor. The appeal was dismissed as the appellant lacked standing to challenge the assignment of debt from SBI to NARCL, and the Section 7 application was maintainable based on the debt assigned.

23 Sep 2024

The appeal was filed by Nakul Bharana, a suspended director of Bareilly Highways Project Limited (corporate debtor), challenging the order dated 23.09...

Supreme Court

Supreme Court Upholds NGT Order Quashing Environmental Clearance for Peripheral Ring Road Due to Stale EIA Data. Primary Data Collected Over Three Years Before Submission Invalidates Clearance Under EIA Notification 2006.

17 Mar 2020

The appeal arose from a judgment of the National Green Tribunal (NGT) dated 8 February 2019 quashing the Environmental Clearance (EC) granted to the B...

Supreme Court

Supreme Court Dismisses Appeal by Power Generator Against Termination of PPA — Holds That Failure to Secure Fuel Supply Agreement Does Not Justify Termination Where PPA Does Not Condition Power Supply on Specific Coal Source

2 Jul 2019

The case involves a dispute between M/s Adani Power (Mundra) Ltd. (appellant) and Gujarat Electricity Regulatory Commission and others (respondents), ...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Recall Application in CIRP Case. Appellant's Application for Recall of CIRP Commencement Order Was Not Maintainable as CIRP Had Progressed Significantly and Resolution Plan Approval Was Pending.

30 Nov -0001

The appeal was filed by Parmesh Construction Company Ltd. challenging the order dated 04.12.2024 passed by the National Company Law Tribunal, New Delh...

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 IDBI Bank's Appeal Against NCLT Order Directing Implementation of Acquisition Plan in Lanco Infratech CIRP. The Appellate Tribunal upheld the NCLT's direction to form a Monitoring Committee and adhere to timelines under the approved Acquisition Plan, rejecting the bank's challenge to the liquidator's authority.

30 Nov -0001

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, dismissed an appeal filed by IDBI Bank Ltd. against an order of the National Compa...

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