Search Results for "creditor companies"

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Search Results for "creditor companies"

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High Court

Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

17 Jan 2017

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

Supreme Court

Supreme Court Allows Appeal in Part on Operational Creditor Status but Upholds Dismissal on Limitation in Insolvency Case. The court held that a purchaser does not qualify as an operational creditor under Section 5(20) of the Insolvency and Bankruptcy Code, 2016, and the application under Section 9 was barred by limitation due to debt arising from 2013 transactions.

4 Feb 2022

The appeal arose from a dispute under the Insolvency and Bankruptcy Code, 2016, involving the appellant, Consolidated Construction Consortium Limited,...

Supreme Court

Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

12 Feb 2024

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...

High Court

High Court Permits Official Liquidator to Break Open Lock and Take Physical Possession of Company Premises Despite Collusive Tenancy Decrees Obtained After Winding Up Without Leave Under Section 446 Companies Act, 1956. The court held that decrees obtained without leave under Section 446 are void and the Official Liquidator is entitled to possession.

30 Aug 2019

The Official Liquidator filed a report seeking permission to break open the lock put by the ex-management of J.B. Diamonds Limited (in liquidation) an...

High Court

Bombay High Court Examines Whether Assignee Bank Can Invoke SARFAESI Act for Debt Assigned by NBFC. The case involves interpretation of 'debt' and 'secured creditor' under SARFAESI Act, 2002 and RDDBFI Act, 1993, and the effect of assignment from a non-banking financial company to a bank.

16 Jul 2015

The petitioner, a banking company, sought to enforce security interest under the SARFAESI Act after acquiring a debt and underlying security from a no...

High Court

Bombay High Court Allows Asset Reconstruction Company's Petition Against DRT Interim Relief in SARFAESI Act Case — Assignment of Debt by IIFL Upheld. The court set aside the DRT and DRAT orders granting ad-interim relief restraining the petitioner from taking steps in respect of secured assets under Section 17 of the SARFAESI Act, 2002, as the tribunals failed to consider the validity of the assignment and the balance of convenience.

18 Jan 2023

The petitioner, ASREC (India) Ltd., an Asset Reconstruction Company, challenged the order of the Debt Recovery Tribunal (DRT) dated 2 June 2022 granti...

High Court

Bombay High Court Declares Payments Made by Company in Liquidation Void Under Section 536(2) of Companies Act, 1956 and Orders Refund. Payments made after winding up order to caterer without court approval are void, and the caterer must repay with interest.

14 Jan 2020

The Official Liquidator of M/s. GOL Offshore Limited (in liquidation) filed OLR No. 139 of 2018 under Section 536(2) of the Companies Act, 1956, seeki...

High Court

WRIT PETITION NO. 5204 OF 2019

20 Nov 2019

The present writ petition was filed by six petitioners, including two public limited companies and four individuals, challenging an order dated 30.05....

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

High Court

High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

25 Jun 2026

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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