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Search Results for "NCLT Chennai"

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Tribunals

NCLAT Dismisses Appeal Against EGM for Share Capital Increase in Insolvency Context — No Prima Facie Case for Injunction as RP Had Not Objected to Proposed Resolution Plan. The court held that the appellant, a financial creditor with 99.41% voting share in the CoC, failed to establish a prima facie case for restraining the EGM of a subsidiary company to increase its authorized share capital, as the RP had not objected to the proposed restructuring.

28 Oct 2025

The case involves an appeal filed by GLAS Trust Company LLC, the principal financial creditor of Think and Learn Private Limited (TLPL), which is unde...

Tribunals

NCLAT Dismisses Appeal Against CIRP Admission Due to 45-Day Delay Without Sufficient Cause Under Section 61(2) of IBC. The appeal against admission of corporate debtor into CIRP was dismissed as time-barred, with the court holding that the delay of 45 days beyond the statutory period was not satisfactorily explained.

18 Dec 2024

The judgment pertains to two connected company appeals filed by Kalyan Muppaneni, the suspended director and founder shareholder of M/s. Pi Data Cente...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Limitation Dispute, Upholding NCLAT's Remand for Admission After Notice. The Court held that limitation for applications under Sections 7 and 9 of the Insolvency and Bankruptcy Code, 2016 runs from the date of default, not the Code's enforcement, and delay can be condoned under Section 5 of the Limitation Act, 1963 upon showing sufficient cause.

19 Sep 2022

The appeal arose from a dispute between M/s Tech Sharp Engineers Pvt. Ltd. (appellant/corporate debtor) and Sanghvi Movers Limited (respondent/operati...

Supreme Court

Supreme Court Allows Appeal in Part on Operational Creditor Status but Upholds Dismissal on Limitation in Insolvency Case. The court held that a purchaser does not qualify as an operational creditor under Section 5(20) of the Insolvency and Bankruptcy Code, 2016, and the application under Section 9 was barred by limitation due to debt arising from 2013 transactions.

4 Feb 2022

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016, involving the appellant, Consolidated Construction Consortium Limited,...

High Court

High Court of Karnataka Dismisses Petition by Foreign Shareholder Challenging Constitutional Validity of Section 272(1)(e) Companies Act, 2013. Section 272(1)(e) is not ultra vires the Constitution; second proviso to Section 272(3) does not apply to petitions under Section 272(1)(e).

28 Apr 2021

The petitioner, Devas Employees Mauritius Private Limited, a company incorporated under the laws of Mauritius and a shareholder of Devas Multimedia Pr...

High Court

Bombay High Court Allows Transfer of Vehicle Ownership in Favor of Auction Purchaser Despite Pending Tax Dues. Held that the transferee cannot be saddled with prior tax liabilities of the transferor under Section 50 of the Motor Vehicles Act, 1988.

6 Apr 2021

The petitioner, Raman Roadways Private Limited, a private limited company engaged in transportation business, filed a writ petition under Article 226 ...

Tribunals

NCLAT Upholds Admission of CIRP Against Corporate Debtor Under Section 7 of IBC, 2016 — Asset Reconstruction Company Held to be Financial Creditor and Application Not Barred by Limitation.

30 Nov -0001

The appeal was filed by the suspended director of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against the order of the Nat...

Tribunals

NCLAT Dismisses Appeals Against Admission of Personal Insolvency Application Under Section 95(1) IBC — Guarantors' Challenge Fails Due to Debt Acknowledgment and Lack of Objection Before NCLT. The Tribunal held that the appeals were not maintainable as the appellants had acknowledged the debt and failed to raise any dispute before the Adjudicating Authority, and no infirmity was found in the impugned order.

30 Nov -0001

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, delivered a common judgment in two connected appeals filed by Mr. Rajesh Bhatia an...

Tribunals

NCLAT Dismisses Appeal by Financial Creditor Against Dismissal of Section 95 Petition Due to Existing Moratorium Under Section 96 IBC — Prior Initiation of Personal Insolvency by Another Creditor Bars Subsequent Petitions Against Same Personal Guarantor

30 Nov -0001

The appellant, Indian Bank, a Financial Creditor, filed a petition under Section 95 of the Insolvency and Bankruptcy Code, 2016 against the respondent...

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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