Search Results for "Section 14 IBC"

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Search Results for "Section 14 IBC"

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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...

Tribunals

NCLAT Allows Appeal Against NCLT Order Directing Refund of Bank Guarantee Invoked During CIRP — Bank Guarantee Invocation Not Barred by Moratorium Under Section 14 IBC. The NCLAT held that the moratorium under Section 14(1)(c) does not prohibit invocation of bank guarantees, as they are independent contracts and not property of the corporate debtor.

20 Dec 2024

The appeal was filed by WAPCOS Ltd. against an order of the National Company Law Tribunal, Special Bench Mumbai, dated 20.01.2022, which directed the ...

Tribunals

NCLAT Allows Appeal by Central Transmission Utility of India Ltd. Against NCLT Order Restraining Termination of Transmission Service Agreement During CIRP. The Appellate Tribunal held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar termination of a contract for pre-CIRP defaults by the corporate debtor, and that the Resolution Professional cannot compel performance of a contract that has been validly terminated prior to the moratorium.

30 Jun 2021

The appeal was filed by Central Transmission Utility of India Ltd. (CTUIL) against an order of the National Company Law Tribunal (NCLT), Hyderabad, da...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Guarantee Enforcement Case. Personal Guarantors Held Liable Despite Principal Borrower's Corporate Insolvency Resolution Process Under Section 14 of IBC.

17 Feb 2015

The petitioners, Jamboo Kumar Jain and Praful Kumar Jain, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging...

High Court

Bombay High Court Dismisses Writ Petition Challenging EPF Recovery Proceedings Against Corporate Debtor Under IBC Moratorium. Held that Section 14 of IBC does not bar EPF recovery proceedings under Section 7A of EPF Act as they are not 'assets' of corporate debtor but trust money.

30 Nov -0001

The petitioner, Galvanotek Industries Private Ltd., a corporate debtor undergoing insolvency resolution under the Insolvency and Bankruptcy Code, 2016...

High Court

Bombay High Court Allows Withdrawal of Court Deposits by Former Employee Despite Appellant's CIRP — Section 14 IBC Moratorium Does Not Bar Withdrawal of Pre-CIRP Deposits Made by Corporate Debtor. The court held that the deposit made by the corporate debtor as a condition for stay of execution is not an asset of the corporate debtor and is not covered by the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016.

4 Jan 2023

The case involves an Interim Application filed by Rajendra Prasad Bansal (respondent in the First Appeal) seeking withdrawal of monies deposited by th...

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...

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