Search Results for "Operational Creditors"

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Search Results for "Operational Creditors"

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Tribunals

NCLAT Dismisses Appeal of Former Director in Fraudulent Trading Case Under Section 66 IBC. The Tribunal upheld the finding that the appellant siphoned funds and engaged in wrongful trading during liquidation of Easytech Global Private Limited.

3 Jul 2025

The present appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by Mr. Gopal Kalra, the erstwhile director of M/s Easy...

Tribunals

NCLAT Dismisses Appeal Against CIRP Admission Due to 45-Day Delay Without Sufficient Cause Under Section 61(2) of IBC. The appeal against admission of corporate debtor into CIRP was dismissed as time-barred, with the court holding that the delay of 45 days beyond the statutory period was not satisfactorily explained.

18 Dec 2024

The judgment pertains to two connected company appeals filed by Kalyan Muppaneni, the suspended director and founder shareholder of M/s. Pi Data Cente...

Supreme Court

Supreme Court Sets Aside NCLAT Order in Insolvency Appeal Due to Lack of Reasonable Opportunity of Hearing. The Court held that the appellant was deprived of a hearing as notice was undelivered and the order was passed in its absence after remand, restoring the matter to the Appellate Tribunal for fresh decision on merits under Section 9 of the Insolvency and Bankruptcy Code, 2016.

28 Mar 2022

The Supreme Court addressed an appeal concerning an order passed by the National Company Law Appellate Tribunal in an insolvency matter. The dispute o...

High Court

Bombay High Court Quashes Reassessment Notice Against Corporate Debtor Under Insolvency Resolution — Income Tax Department Cannot Issue Section 148 Notice After Approval of Resolution Plan Under IBC, 2016. The court held that the moratorium under Section 14 IBC and the binding nature of the resolution plan under Section 31 IBC bar the Income Tax Department from reopening assessments for periods prior to the approval of the plan.

23 Dec 2021

The petitioner, Murli Industries Limited, a corporate debtor undergoing insolvency resolution under the Insolvency and Bankruptcy Code, 2016 (IBC), ch...

High Court

Bombay High Court Allows Transfer of Vehicle Ownership in Favor of Auction Purchaser Despite Pending Tax Dues. Held that the transferee cannot be saddled with prior tax liabilities of the transferor under Section 50 of the Motor Vehicles Act, 1988.

6 Apr 2021

The petitioner, Raman Roadways Private Limited, a private limited company engaged in transportation business, filed a writ petition under Article 226 ...

Supreme Court

Supreme Court Strikes Down Section 87 of Arbitration Act as Unconstitutional — Automatic Stay of Arbitral Awards Revived by 2019 Amendment Held Arbitrary and Violative of Article 14. The court held that the provision reintroducing automatic stay upon filing of a Section 34 application is manifestly arbitrary and contrary to the object of the 2015 Amendment Act.

27 Nov 2019

The judgment concerns a batch of writ petitions challenging the constitutional validity of Section 87 of the Arbitration and Conciliation Act, 1996, i...

High Court

High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts. Creditor's Statutory Demand for USD 3 Million Remained Unpaid, Leading to Order for Winding Up Under Sections 433(e) and (f) of the Companies Act, 1956.

18 Nov 2016

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

High Court

High Court of Karnataka Dismisses Winding-Up Petition Against Kingfisher Airlines Ltd. for Lack of Service of Statutory Notice. Petition under Sections 433(e) and (f) of the Companies Act, 1956 fails as petitioner Aerotron Limited did not prove service of demand notice under Section 434.

18 Nov 2016

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a winding-up petition under Sections 433(e) and (f...

High Court

High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts Under Companies Act, 1956. The court held that the company was commercially insolvent and unable to pay its debts, and appointed the Official Liquidator to take charge of its assets.

18 Nov 2016

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...

High Court

Bombay High Court Dismisses Petitions Challenging AAIFR Order Rejecting Revival Scheme for Sick Company Under SICA. The court held that the AAIFR's findings on non-compliance and lack of feasibility were based on evidence and not perverse, thus no interference under Article 226 was warranted.

29 Jul 2011

This group of writ petitions challenges a common order dated 28/5/2010 passed by the Appellate Authority for Industrial and Financial Reconstruction (...

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