Search Results for "operational creditor"

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Search Results for "operational creditor"

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Supreme Court

Supreme Court Allows Appeal in Insolvency Case Due to Limitation Bar — Winding Up Petition Filed Beyond Three Years from Default Date Cannot Be Revived Under IBC. The Court held that a time-barred winding up petition under the Companies Act, 1956 cannot be treated as a valid Section 7 application under the IBC, and the filing of a suit for specific performance does not extend limitation for a winding up petition.

25 Sep 2019

The Supreme Court considered appeals arising from the admission of a winding up petition under the Insolvency and Bankruptcy Code, 2016 (IBC). The pet...

Tribunals

NCLAT Allows Section 95 Application Against Personal Guarantors in IBC Case — Limitation Period for Filing Application Under Section 95 Commences from Date of Default in Demand Notice Under Guarantee Contract, Not from Date of NCLT Order Admitting Corporate Debtor. The court held that the limitation for filing an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 against a personal guarantor runs from the date of default in the demand notice under the guarantee contract, and not from the date of the NCLT order admitting the corporate debtor.

22 Oct 2024

The National Company Law Appellate Tribunal (NCLAT) at Chennai, by a common judgment dated 22.10.2024, allowed two appeals filed by the State Bank of ...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Section 9 Petition Due to Pre-Existing Dispute and Section 10A Bar. Operational Creditor's Claim Time-Barred and Default Occurred During Prohibited Period Under IBC.

13 Jan 2025

The appeal was filed by Royal Construction (Operational Creditor) against the order of the National Company Law Tribunal, Mumbai Bench, which dismisse...

High Court

Bombay High Court Allows Summary Suit Against Principal Borrower Despite Moratorium Against Guarantors Under IBC. The court permitted the plaintiff to proceed only against defendant no.1 (principal borrower) while reserving rights against guarantors under moratorium.

6 Apr 2026

The plaintiff, IL & FS Financial Services Limited, filed a commercial summary suit under Order XXXVII of the Code of Civil Procedure, 1908 to recover ...

Supreme Court

Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that no fresh dispute on AGR dues can be raised after final judgment and that spectrum cannot be subject of IBC proceedings.

20 Jul 2020

The Supreme Court was hearing miscellaneous applications in the ongoing litigation concerning the definition of Adjusted Gross Revenue (AGR) and the p...

Supreme Court

Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that AGR dues are final and no fresh disputes can be raised, and directed examination of whether insolvency proceedings under IBC are a subterfuge.

20 Jul 2020

The Supreme Court was hearing applications in the ongoing AGR dues matter, where the Union of India sought extension of time for payment. The Court ha...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Under IBC, Holds Prior Consent Under Section 16G of Tea Act Required for Initiation of CIRP Against Tea Gardens Under Central Government Management. The court ruled that the Tea Act, 1953, being a special legislation, requires prior consent of the Central Government for initiating insolvency proceedings under Section 9 of the IBC against a corporate debtor whose tea gardens are under government management.

4 Oct 2019

The case involves a dispute between Duncans Industries Ltd. (the appellant/corporate debtor) and A. J. Agrochem (the respondent/operational creditor) ...

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...

Tribunals

NCLAT Dismisses Appeal by Suspended Director Against Admission of Section 9 Petition for Manpower Supply Services. Operational Creditor's claim upheld as debt and default were established, and no pre-existing dispute existed.

21 Mar 2025

The appeal was filed by a suspended director of Sahara Hospitality Ltd. (Corporate Debtor) against the order of the National Company Law Tribunal, Mum...

Supreme Court

Supreme Court Allows Appeal in IBC Section 7 Case — NCLT Cannot Dismiss Petition Without Applying Mind to Merits. Adjudicating Authority Must Determine Default and Admit or Reject Petition Under Section 7, Not Direct Settlement Without Considering Individual Claims.

1 Jan 2020

The present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) arises from a judgment of the National Company Law Appellate Tri...

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