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Supreme Court Dismisses Appeal by Erstwhile Directors in First Insolvency Case, Holding IBC Overrides State Moratorium. Corporate Debtor's Belated Defence of Non-Disbursal Under Master Restructuring Agreement Rejected as After-Thought.

The case arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The appellant, a multi-product company, faced ...

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Supreme Court Dismisses Corporate Debtor's Appeal Against NCLT Order Admitting Insolvency Application Under Insolvency and Bankruptcy Code, 2016. Maharashtra Act Moratorium Does Not Bar Insolvency Proceedings as Section 238 of the Code Overrides Inconsistent State Laws.

The appeal arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The corporate debtor, a multi-product compan...

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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 Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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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.

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...