Search Results for "debtor's petition"

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Search Results for "debtor's petition"

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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 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 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 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...

High Court

Bombay High Court Allows State's Petition Challenging NCLT Order De-freezing MPID Attached Accounts. MPID Act Overrides IBC for Attachment and Confiscation of Properties of Financial Establishments.

9 Nov 2020

The State of Maharashtra, through the Deputy Collector and Competent Authority (NSEL), filed a writ petition under Articles 226 and 227 of the Constit...

High Court

High Court of Judicature at Bombay Interprets Conditions for Debtor's Insolvency Petition Under Presidency Towns Insolvency Act, 1909. Court Clarifies That Allegation of Inability to Pay Debts is Sufficient While Entitlement to Present Petition Must Be Proved Under Section 14.

26 May 2020

The judgment dealt with two debtors' insolvency petitions filed by a father and son duo under the Presidency Towns Insolvency Act, 1909 (PTI Act). The...

Supreme Court

Supreme Court Allows Suspended Director Access to Resolution Plans in Insolvency Case — Right to Effective Participation Under IBC. Suspended Board Members Entitled to Receive Resolution Plans and Relevant Documents for Effective Participation in CoC Meetings Under Section 24(3) of IBC and Regulation 21 of CIRP Regulations.

31 Jan 2019

The appeal arose from an Appellate Tribunal's order denying the appellant, a suspended director of Ruchi Soya Industries Ltd. (corporate debtor), acce...

High Court

Bombay High Court Allows Revision in Chit Fund Recovery Case: Sureties Cannot Be Proceeded Against When Suit Abates Against Principal Debtor. The court held that in a composite suit against borrower and sureties, abatement against the principal debtor due to his death extinguishes the liability of sureties under Section 37 of the Indian Contract Act, 1872.

13 Jun 2017

The case involves a civil revision application filed by Vinod s/o Chhaganlal Daga, who was original defendant no.3 and judgment debtor no.3 in executi...

High Court

High Court of Karnataka Dismisses Appeal in Execution Proceedings — Upholds Rejection of Application to Set Aside Auction Sale Under Order 21 Rule 90 CPC. Judgment-Debtor Failed to Prove Material Irregularity or Substantial Injury from Alleged Inadequacy of Price.

30 Oct 2013

The case arises from execution proceedings in Ex. No. 73/2004 pending before the Civil Judge (Sr. Dn.), Chickmagalur. The appellants, who are the lega...

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...

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