Search Results for "financial creditors"

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Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Supreme Court Allows Appeal in Motor Accident Claim Case — Death Not Arising O...
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Search Results for "financial creditors"

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Supreme Court

Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

29 Apr 2024

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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

High Court of Bombay Upholds Recall of Annulment Order in Insolvency Case Due to Concealment of Creditor. Appellant Insolvent Failed to Disclose Kotak Mahindra Bank as Creditor with DRT Recovery Certificate, Leading to Recall of Annulment Under Section 22(1) of Presidency Towns Insolvency Act, 1909.

31 Mar 2021

The case involves an appeal filed by Akshay D. Thakkar (the Appellant/Insolvent) against an order dated 18th September, 2018 passed by a learned Singl...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

Supreme Court

Supreme Court Allows IDBI Bank's Appeal in Winding Up Case — Revival of Winding Up Proceedings Set Aside and Sale Deed Directed to Be Executed. Agreement to Sell Not Fraudulent Preference Under Section 531 of Companies Act, 1956 as Executed Beyond Six-Month Period and Bona Fide.

17 Oct 2019

The Supreme Court considered two appeals by IDBI Bank (erstwhile United Western Bank) against judgments of the Madras High Court relating to the windi...

High Court

Bombay High Court Dismisses Appeal Seeking Permanent Stay of Winding Up of Svadeshi Mills Company Limited. Section 466 of Companies Act, 1956 does not permit stay of winding up after assets have been sold and substantial progress made in liquidation.

23 Aug 2013

The case concerns an appeal against the dismissal of a company application under Section 466 of the Companies Act, 1956, seeking a permanent stay of t...

High Court

Bombay High Court Allows Appeals Against Rejection of Winding Up Petitions Under Sections 433 and 434 of Companies Act, 1956 — Held That Disputed Debts Require Trial and Cannot Be Decided in Summary Proceedings. The court set aside the dismissal order and remanded for consideration of interim relief, directing the respondent to deposit the disputed amount or provide security.

7 Jan 2013

The appellants, Innovatherm GmbH and Electrification Charpente Levage SAS, filed winding up petitions under Sections 433 and 434 of the Companies Act,...

High Court

Bombay High Court Allows Scheme for Small Fixed Deposit Holders in Winding-Up Petition Against Lloyds Finance Ltd. — Court directs framing of scheme to repay small depositors instead of winding up the company, considering that winding up would leave no recovery for any creditor.

3 Feb 2005

The judgment arises from a winding-up petition filed by Shri Basant Lal Agarwal against M/s. Lloyds Finance Ltd. for recovery of Rs. 3,75,00,000 advan...

Tribunals

NCLAT Allows Appeals by Commercial Space Buyers in CIRP of IP Constructions Pvt. Ltd. — Resolution Plan Must Include Allottees' Claims. The Tribunal held that commercial space allottees are 'financial creditors' under Section 5(8)(f) of the Insolvency and Bankruptcy Code, 2016, and their claims must be considered in the resolution plan.

30 Nov -0001

The judgment arises from three appeals filed by commercial space allottees against orders of the National Company Law Tribunal (NCLT), Principal Bench...

Tribunals

NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

30 Nov -0001

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...

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