Search Results for "substituted petitioning creditor"

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Search Results for "substituted petitioning creditor"

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High Court

Bombay High Court Allows Substituted Petitioning Creditor in Insolvency Proceedings Based on Original Act of Insolvency. Hire Purchase Claim Held Valid as Debt Under Presidency Towns Insolvency Act, 1909 Despite Lack of Decree.

17 Oct 2006

The Insolvency Petition was originally filed by Mandvi Cooperative Bank Ltd. based on an award of the Cooperative Court dated 7th August 2000. An Inso...

High Court

Bombay High Court Dismisses Insolvency Petition Against Debtor Due to Non-Compliance with Section 9(3)(c) of Presidency Towns Insolvency Act, 1909 — Petitioning Creditor Failed to Prove Debtor's Act of Insolvency Within Three Months of Petition.

3 Sep 2010

The case concerns an insolvency petition filed by Kaushik Shah Shares & Securities Private Limited (substituted petitioning creditor) seeking to adjud...

Supreme Court

Supreme Court Allows Secured Creditor's Winding Up Petition Despite DRT Decree — Recovery of Debts Act Does Not Bar Winding Up Proceedings Under Companies Act. Secured Creditor Need Not Relinquish Security Before Admission of Winding Up Petition; Election Arises Only After Winding Up Order Under Section 529 Companies Act, 1956.

29 Jan 2019

The case involves the right of a secured creditor, Kotak Mahindra Bank Ltd., to file a winding up petition under the Companies Act, 1956, after having...

High Court

High Court of Karnataka Considers Application Under Section 434 Companies Act Seeking Transfer of Winding-Up Petition to NCLT. Applicant Argues No Irreversible Steps Taken, Citing Supreme Court Precedent.

23 Jun 2026

The matter arose from a Company Petition filed in 2010 seeking winding up of Broadcast Infratel India Private Limited on grounds of unpaid admitted de...

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...

High Court

Bombay High Court Dismisses Judgment Debtors' Notice of Motion for Condonation of Delay in Setting Aside Insolvency Notice — Delay of 1156 Days Uncondonable as It Would Prejudice General Body of Creditors. The Court held that insolvency proceedings involve the interests of all creditors, not just the original judgment creditor, and that the delay in challenging the insolvency notice cannot be condoned when it would prejudice other creditors who have already substituted in the proceedings.

15 Jun 2010

The case involves a Notice of Motion filed by the judgment debtors, Jayantilal Khandwala & Sons, seeking condonation of a 1156-day delay in setting as...

High Court

Bombay High Court Considers Whether Official Assignee Can Adjudicate Claims Without a Pre-existing Decree Under Presidency-Towns Insolvency Act, 1909. Legal Question Framed for Determination Concerning the Scope of the Official Assignee's Adjudicatory Powers Under Sections 6, 46, and 48 of the Presidency-Towns Insolvency Act, 1909.

2 Jul 2026

The matter arose out of two insolvency petitions where a creditor lodged a claim with the official assignee. The official assignee took the position t...

Supreme Court

Supreme Court Allows Financial Creditor's Appeal for Transfer of Winding Up Proceedings to NCLT. The Court held that the proviso to Section 434(1)(c) of the Companies Act, 2013 permits any party to apply for transfer, and the High Court's rejection based on compliance with Rule 24 and existence of a winding up order was erroneous.

22 Sep 2020

The appeal arose from an order of the Company Court (High Court of Allahabad) refusing to transfer a winding up petition to the National Company Law T...

Supreme Court

Supreme Court Dismisses Appeals Against Insolvency Initiation Under Insolvency and Bankruptcy Code, 2016 -- NCLAT Order Upheld in Favor of Allottees as Financial Creditors -- Corporate Debtors Failed to Deliver Possession and Complete Formalities

2 Feb 2026

The Supreme Court dismissed civil appeals filed by erstwhile directors of corporate debtors against the NCLAT judgment which upheld the NCLT order ini...

Supreme Court

Supreme Court Upholds Transfer of Winding Up Petition to NCLT Despite Admission Order. Discretion Under Section 434(1)(c) Companies Act, 2013 Properly Exercised Where Liquidation Was at Initial Stage and No Irreversible Steps Taken.

14 Dec 2020

The Supreme Court dismissed appeals by Action Ispat and Power Pvt. Ltd. against the Delhi High Court's order transferring a winding up petition to the...

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