Search Results for "insolvency appeal"

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Search Results for "insolvency appeal"

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High Court

Bombay High Court Allows Summary Suit Against Principal Borrower Despite Moratorium Against Guarantors Under IBC. The court permitted the plaintiff to proceed only against defendant no.1 (principal borrower) while reserving rights against guarantors under moratorium.

6 Apr 2026

The plaintiff, IL & FS Financial Services Limited, filed a commercial summary suit under Order XXXVII of the Code of Civil Procedure, 1908 to recover ...

Tribunals

NCLAT Allows Appeal Against Admission of CIRP Due to Discharge of Debt Through One-Time Settlement. Financial Debt Found to Be Fully Satisfied Prior to Filing of Section 7 Application Under Insolvency and Bankruptcy Code, 2016.

3 Jul 2025

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Puneet Resutra, the erstwhile Director and Shar...

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 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 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...

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 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...

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...

High Court

Bombay High Court Allows Appeal and Annuls Insolvency Adjudication After Debtor Deposits All Creditor Claims. Debtor's Compliance with Court Order to Pay All Claims Justified Annulment Under Section 35 of Presidency Towns Insolvency Act, 1909.

10 Aug 2005

The appeal arose from an order dated December 3, 1996, by which the Insolvency Court adjudicated the appellant, Mulji Harshi Shah, as insolvent. The a...

Supreme Court

Supreme Court Upholds Appeal in Provincial Insolvency Act Case Due to High Court Exceeding Jurisdiction by Reappreciating Evidence. The High Court's limited power under Section 75(1) first proviso does not allow disturbing findings of fact, and a wrong decision on facts is according to law.

13 Feb 1969

The appeal arose from insolvency proceedings in which the petitioning creditor sought annulment of two mortgages executed by the insolvents, one for R...

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