Search Results for "Corporate Insolvency Resolution Process"

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Supreme Court Upholds NCDRC Decision: Execution Cannot Proceed Against Directors/Promoters Not Party to Original Consumer Complaint Decree

The Supreme Court upheld the NCDRC's dismissal of execution applications against directors/promoters of ACIPL, holding that execution must strictly co...

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NCLAT Dismisses Appeal Against Assignment of Debt by Government Authority in CIRP. Assignment of operational debt by a government authority to a private entity is valid under the IBC, and the assignee becomes an operational creditor with voting rights in the CoC.

The appeal was filed by Ellison Oil Field Services Pvt. Ltd. against an order of the NCLT, Mumbai Bench 1 dated 21.08.2024, which dismissed an applica...

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NCLAT Dismisses Interim Application Seeking Removal of IRP and Permission for Ex-Management to Operate Bank Accounts in CIRP. CIRP having commenced, no permission can be granted to ex-employee/key managerial person to operate bank accounts.

The National Company Law Appellate Tribunal (NCLAT) was hearing an interim application (I.A. No. 8910 of 2024) filed by the appellant, Sanjay Chandrak...

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Karnataka High Court Hears Writ Petition Challenging Recall of Tender for Mine Operator Under Section 14 of Karnataka Transparency in Public Procurement Act, 1999. Court Examines Whether Lowest Bidder Has Vested Right and Whether Conviction of Ex-Directors Justifies Cancellation.

The Karnataka Power Corporation Limited (the Corporation) issued a notice inviting tender on 02.12.2020 for the selection of a Mine Operator for the d...

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Bombay High Court Dismisses Winding Up Petitions Against GOL Offshore Ltd. Due to Bona Fide Dispute and Absence of Commercial Insolvency. Debt Not Due and Payable Under Section 433(e) of Companies Act, 1956.

The judgment concerns two winding up petitions filed by Export-Import Bank of India and Punjab National Bank (International) Ltd. against GOL Offshore...