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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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National Company Law Appellate Tribunal Dismisses Appeals by Suspended Director Challenging Withdrawal of CIRP Application Under Section 12A of IBC -- Orders Permitting Withdrawal and Deletion of Suspended Management Upheld

The National Company Law Appellate Tribunal dismissed Appeals by Appellant, Suspended Director, against orders of the Adjudicating Authority related t...

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NCLAT Dismisses Shareholder's Appeal Against Admission of CIRP for Corporate Debtor Under Section 9 IBC. Pre-Existing Dispute Not Established as Dispute Raised After Demand Notice and Lacking Evidence.

The present appeal was filed by Surendra Sancheti, a shareholder of Altius Digital Private Limited (Corporate Debtor), under Section 61 of the Insolve...

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Bombay High Court Sets Aside Insolvency Notice Against Partners Not Impleaded in Suit — Leave Under Order 21 Rule 50(2) CPC Required. Insolvency Notice Against Alleged Partners Without Prior Leave Under Order 21 Rule 50(2) CPC is Invalid as It Is a Step in Execution.

The judgment debtors, M/s. Shiva Trading Corporation (a firm) and its alleged partners Gulab S. Daga and Jatin Devi Daga, filed a motion to set aside ...