Search Results for "insolvency moratorium"

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Search Results for "insolvency moratorium"

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High Court

High Court of Judicature at Bombay Addresses Requirement of Leave Under Section 446 of Companies Act, 1956 and Applicability of IBC Moratorium in Admiralty Proceedings. Court Considers Whether Admiralty Suits Are Affected by Company Liquidation Under Section 446 of Companies Act, 1956 and Moratorium Under Section 14 of Insolvency and Bankruptcy Code, 2016 in Light of Competing Claims of Maritime Creditors and Operation of Insolvency Law.

19 May 2020

The proceedings arose from multiple admiralty suits filed before the High Court of Judicature at Bombay, wherein orders of arrest of defendant vessels...

Supreme Court

Supreme Court Dismisses Municipal Corporation's Appeal Against Resolution Plan Approval in Insolvency Case. Municipal Corporation's Prior Consent to Resolution Plan Precludes Later Objections Under IBC.

15 Nov 2019

The Municipal Corporation of Greater Mumbai (MCGM) appealed against the order of the National Company Law Appellate Tribunal (NCLAT) which had upheld ...

Supreme Court

Supreme Court Allows Appeals in IBC Financial Creditor Classification Case — Security Deposit for Sales Promotion Not a Financial Debt. Held that a security deposit paid under a service agreement for sales promotion does not constitute a financial debt under Section 5(8) of the Insolvency and Bankruptcy Code, 2016, as there is no disbursal for time value of money or commercial effect of borrowing.

25 Apr 2024

The Supreme Court allowed appeals against NCLAT judgments that classified security deposits paid by sales promoters as financial debts under the Insol...

High Court

Bombay High Court Sets Aside Warrant of Attachment in Execution Proceedings Due to Approved Resolution Plan Under IBC. The court held that the MSEFC award was subsumed by the NCLT-approved resolution plan, which provided for 15% payment of the claim, and the execution could not proceed for the full award amount.

18 Mar 2024

The case involves an execution application filed by Mars Art Studio (the judgment creditor) against Shirdi Industries Limited (the judgment debtor) to...

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,...

High Court

Bombay High Court Rules in Admiralty Jurisdiction Case: Cockette Marine Oil vs. OSV Beas Dolphin. Court Rejects Summary Judgment Amidst Insolvency Proceedings, Highlights Impact of IBC Moratorium on Maritime Claims.

23 Aug 2024

The Bombay High Court, under the Admiralty jurisdiction, considered an application for summary judgment filed by Cockette Marine Oil DMCC against OSV ...

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...

Tribunals

NCLAT Dismisses Appeal Against Liquidation Order in Insolvency Case — Appellant Failed to Show Viable Revival Plan or Error in Impugned Order. Corporate Debtor's Liquidation Upheld as No Resolution Plan Was Received and Appellant's Offer Was Not a Valid Plan Under IBC.

30 Nov -0001

The case involves an appeal filed by P. Naveen Chakravarthy (the appellant) against an order dated 27.01.2021 passed by the Adjudicating Authority (Na...

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 ...

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...

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