Search Results for "Company Liquidation"

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Search Results for "Company Liquidation"

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High Court

"Temporary Appointment of Staff in Liquidation Cases: A Legal Analysis under Rules 308 and 309" Balancing Liquidation Needs with Legal Sanctions

14 Dec 2024

The Bombay High Court (Nagpur Bench), in Company Application No. 48/2024, addressed the appointment of a Peon (MTS) in liquidation proceedings under R...

Tribunals

NCLAT Upholds Sale of Corporate Debtor as Going Concern in Liquidation — Confirms Immunity Under Section 32A IBC. Liquidator's Application for Confirmation of Sale and Immunity Allowed Despite Objections from Suspended Directors.

27 Sep 2024

The appeal arose from a common order dated 27.09.2024 passed by the NCLT, Chennai, in IA(IBC)/415/2024, IA(IBC)/1701/2023, and IA(IBC)/1757/2023 in th...

High Court

Bombay High Court Allows State's Petition Challenging NCLT Order De-freezing MPID Attached Accounts. MPID Act Overrides IBC for Attachment and Confiscation of Properties of Financial Establishments.

9 Nov 2020

The State of Maharashtra, through the Deputy Collector and Competent Authority (NSEL), filed a writ petition under Articles 226 and 227 of the Constit...

Supreme Court

Supreme Court Allows Appeals Against High Court Interim Stay in IBC Matter — Questions of Maintainability of Writ Petition and NCLT's Power to Inquire into Fraud Examined. The court held that the High Court should not have entertained a writ petition against an NCLT order when a statutory appeal to NCLAT was available, and that NCLT can inquire into fraud under Section 60(5)(c) of IBC, 2016.

3 Dec 2019

The Supreme Court heard three appeals arising from an interim order of the Karnataka High Court staying the operation of a direction by the National C...

Supreme Court

Supreme Court Allows Appeal Against NCLAT Modification of Resolution Plan in IBC Case — Discrimination Between Financial Creditors Not Established. The Court held that the NCLAT erred in modifying the resolution plan approved by the NCLT under Section 30(2)(e) of the Insolvency and Bankruptcy Code, 2016, as the differential treatment of a dissenting financial creditor was not discriminatory.

8 Nov 2019

The case involves an appeal by Rahul Jain, the resolution applicant, against the order of the National Company Law Appellate Tribunal (NCLAT) modifyin...

High Court

Bombay High Court Directs Official Liquidator to Adjudicate Workmen's Claims in Winding Up of KMA Ltd. Under Sections 529A and 530 of Companies Act, 1956. Industrial Court's Order on Unpaid Wages Held Binding on Official Liquidator.

6 Jan 2016

The judgment concerns two company applications filed in the winding up of KMA Ltd. (in liquidation). Company Application No.593 of 2011 was filed by a...

High Court

Bombay High Court Directs Official Liquidator to Adjudicate Workmen's Claims in Winding Up of KMA Ltd. Under Sections 529A and 530 of Companies Act, 1956. The court held that the Official Liquidator must consider the Industrial Court's order dated 2 July 2005 in adjudicating claims of workmen.

6 Jan 2016

The judgment concerns two company applications filed in the winding up proceedings of KMA Ltd. (in liquidation). Company Application No. 593 of 2011 w...

High Court

Bombay High Court Validates Pledge and Transfer of Shares by Company in Liquidation Under Section 536(2) of Companies Act, 1956 — Transaction Held to Be for Benefit of Company and Creditors. Post-petition pledge of shares as security for raw material supply and subsequent transfer validated as bona fide and in ordinary course of business.

22 Jul 2015

The judgment concerns an application filed by Garware Marine Industries Limited (the Applicant) seeking validation under Section 536(2) of the Compani...

High Court

Bombay High Court Dismisses Appeal Against Recall of Order in Company Liquidation Matter — Leasehold Rights Not Transferred to Appellant Due to Lack of Evidence of Assignment. The court held that the appellant failed to establish any assignment of leasehold rights from the secured creditor, and the order dated 12 February 2013 was correctly recalled.

8 Oct 2013

The appeal arises from a judgment and order of a learned Single Judge in a company application that was moved by the Appellant for recalling an earlie...

Tribunals

NCLAT Dismisses Appeal of Successful Resolution Applicant Seeking Stay of Liquidation — Failure to Deposit Balance Amount Within Extended Time Justifies Rejection of Relief. The appellant, a resolution applicant, failed to deposit the balance amount of Rs.9,37,50,000/- despite extension of time, leading to dismissal of appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016.

30 Nov -0001

The appellant, Mr. C. Sivasami, was the successful resolution applicant and promoter of M/s. Topknit Processing Mills Pvt. Ltd., the corporate debtor....

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