Search Results for "moratorium under IBC"

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Bombay High Court Allows Writ Petition Quashing MPID Act Attachment Against Corporate Debtor's Property. Section 32A IBC Overrides MPID Act as Property Acquired Prior to Offence and Corporate Debtor Not Accused.

The petitioner, Dwarka Iron Industries Pvt. Ltd., as the Successful Resolution Applicant of the corporate debtor M/s. Abhirama Steels Limited, filed a...

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Supreme Court Allows Appeal in IBC Case: CIRP Not a Substitute for Execution of Civil Court Decree. Insolvency and Bankruptcy Code, 2016 — Section 7 — Financial Debt — Decree Holder Cannot Bypass Execution Process.

The Supreme Court allowed the appeal filed by Appellants against the order of the NCLAT which had directed admission of a Section 7 petition under the...

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Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...

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Supreme Court Allows Insolvency Proceedings Under IBC Over Defunct Scheme of Arrangement -- IBC Prevails Over Companies Act in Recovery of Defaulted Loans

The Supreme Court allowed an appeal against the Company Law Appellate Tribunal's order that kept in abeyance an application under Section 7 of the Ins...

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National Company Law Appellate Tribunal Allows Appeals by Appellant Creditor in IBC Case -- Sets Aside Orders Directing Appellant to Approach GIDC Appellate Authority and Remitting Resolution Plan -- Termination of Lease During Moratorium Held Invalid Under Section 14 of IBC

The National Company Law Appellate Tribunal (NCLAT) allowed two appeals filed by the Resolution Professional (RP) and the largest financial creditor o...

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Supreme Court Validates NCLAT's Ruling on Financial Debt Classification under IBC. Global Credit Capital Limited and others deemed financial creditors in Mount Shivalik Industries Ltd. insolvency case.

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT), confirming that the appellants are financial creditors u...

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Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...

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Supreme Court Directs NCLT to Expedite Approval of Resolution Plan in Home Buyers' Insolvency Case, Upholding IBC Moratorium. Execution of Consumer Forum Order Stayed Under Section 14 of Insolvency and Bankruptcy Code, 2016, with Personal Liability Issues Referred to Adjudicating Authority.

The dispute involved home buyers who had entered into agreements with a developer for a housing project, with possession due in 2014. The developer ab...

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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.

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...