Search Results for "insolvency notice"

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Search Results for "insolvency notice"

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Tribunals

NCLAT Allows Appeal Against Dismissal of Section 7 IBC Application by Financial Creditor. Loan Agreement and Default Established Through Signed Documents and Acknowledgment of Debt.

30 Nov -0001

The present appeal was filed by Desana Impex Limited (Appellant), a Non-Banking Financial Corporation (NBFC) registered under the Companies Act, 2013 ...

Supreme Court

Supreme Court Allows Liquidator's Appeal on Limitation Grounds in Insolvency Proceeding. Limitation period under Section 61 of the Insolvency and Bankruptcy Code, 2016 runs from the date the order is made available, not from pronouncement, applying Section 420(3) of the Companies Act, 2013 and Rule 50 of the National Company Law Tribunal Rules, 2016 for free copies.

22 Oct 2021

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dated 13 July 2020, which dismissed the appellant's appeal as ...

High Court

Bombay High Court Dismisses Writ Petition Challenging RBI Circular on Resolution of Stressed Assets. Circular dated 12.02.2018 held to be valid and within RBI's powers under Sections 35A and 35AB of the Banking Regulation Act, 1949.

8 Mar 2018

The petitioners, Jayaswal Neco Industries Limited and Jayaswal Holdings Private Limited, filed a writ petition under Article 226 of the Constitution o...

Supreme Court

Supreme Court Dismisses Miscellaneous Application in Special Leave Petition Due to Lack of Maintainability and Independent Nature of Insolvency Proceedings. Post-disposal recall applications are not entertainable except in narrow exceptions, and subsequent developments in insolvency under Section 12A of the Insolvency and Bankruptcy Code, 2016 cannot retroactively affect disposed civil matters.

23 Mar 2026

The dispute originated from an Agreement to Sell dated 13.08.2021 concerning a property in Gurugram, where the applicant sought specific performance t...

Supreme Court

Supreme Court Dismisses Operational Creditor's Appeal in Insolvency Case Due to Limitation and Pre-existing Dispute. Application Under Section 9 of Insolvency and Bankruptcy Code, 2016 Barred as Cause of Action Accrued in 2011-2012 and Dispute Over Gas Supply Existed, Excluding Suspension Period Under Sick Industrial Companies (Special Provisions) Act, 1985 Not Applicable.

4 Jan 2023

The appeal arose from the dismissal of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the National Company Law Tribunal...

Supreme Court

Supreme Court Quashes Insolvency Petition Under IBC Due to Absence of Operational Debt. Claim for Payment Made Under Subcontracting Arrangement Does Not Constitute Operational Debt Under Section 5(21) of Insolvency and Bankruptcy Code, 2016, as It Was Not for Goods or Services Provided by Corporate Debtor to Creditor.

10 Aug 2021

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016, concerning a sugar project in Sudan financed through a Line of Credit ...

Supreme Court

Supreme Court Dismisses Operational Creditor's Appeal to Continue Winding Up Petition in High Court Amidst Insolvency Proceedings Under IBC. Held that winding up petitions under Section 433(e) of Companies Act, 1956 where notice has been served under Rule 26 of Companies (Court) Rules, 1959 are not automatically transferred to NCLT and may continue in High Court, but such continuation does not bar initiation or continuation of independent insolvency proceedings under IBC by other creditors.

22 Jan 2019

The appeal arose from an operational creditor's challenge to the continuation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016...

Supreme Court

Supreme Court Allows Appeal of Resolution Professional in IBC Moratorium Dispute. Section 14(1)(d) of Insolvency and Bankruptcy Code, 2016 prohibits owner from recovering property occupied by corporate debtor during moratorium, even under joint development agreement.

19 Feb 2020

The appeal arose from a dispute concerning the interpretation of Section 14(1)(d) of the Insolvency and Bankruptcy Code, 2016 (IBC). The appellant, Ra...

Tribunals

NCLAT Allows Secured Creditor's Appeal Against Contribution Order in IBC Liquidation — Secured Creditor Realizing Security Under Section 52 Not Liable to Contribute to Workmen's Dues or Liquidation Costs. The court held that the waterfall mechanism under Section 53 IBC does not apply to secured creditors who opt out of the liquidation process, and Section 226(1)(b) of Companies Act, 2013 is inapplicable.

14 Jan 2025

The appeal was filed by Cosmos Co-Operative Bank Ltd., a secured creditor of Pandit Automotive Pvt. Ltd. (corporate debtor), challenging an order of t...

Supreme Court

Supreme Court Allows Withdrawal of CIRP Proceedings in Insolvency Case Based on Settlement with Majority Home Buyers. Original applicants (home buyers) permitted to withdraw Section 7 application under Insolvency and Bankruptcy Code, 2016 as settlement reached with corporate debtor and majority home buyers, with corporate debtor undertaking to complete project within one year.

3 Mar 2022

The dispute arose from a housing project in Gurgaon, where the corporate debtor, Jasmine Buildmart Pvt. Ltd., failed to complete the project within ei...

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