Operational creditor cannot seek to initiate CIRP against Corporate Debtor when real dispute exists: NCLAT
The NCLAT set aside Adjudicating Authority’s order initiating CIRP of the Corporate Debtor.
Section 9 IBC
NCLAT sets aside Section 7 IBC application; lets Section 9 application run its due course
The Tribunal stated that if the withdrawal of the Section 9 Admission order was upheld and CIRP were to start afresh from the date of admission of the Section 7 Application, it would have resulted in an inadequate insolvency resolution of the corporate debtor.
IBC-Limitation| Pendency of proceedings in a parallel forum not sufficient cause for delay in filing Section 9 IBC application: Supreme Court
“A claim may not be barred by limitation. It is the remedy for realisation of the claim, which gets barred by limitation.”
NCLT | Deducing from the acts and the tactics of the corporate debtor failing the test of legality, initiates CIRP
National Company Law Tribunal, Mumbai Bench, Mumbai- The Coram of Ashok Kumar Borah, Judicial Member, and Shyam Babu Gautam, Technical Member while
NCLAT reiterates IBC is beneficial legislation intended to put Corporate Debtor on its feet, not a mere money recovery legislation
National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Bansi Lal Bhat (Acting Chairperson) and Justice Anant Bijay Sing (Judicial Member) and
NCLAT | Appellate Tribunal exercises inherent powers under R. 11 of NCLAT Rules, quashes CIRP where settlement reached between parties before constitution of CoC
National Company Law Appellate Tribunal (NCLAT): A Bench of Justice S.J. Mukhopadhaya, Chairperson and Kanthi Narahari, Member (Technical), allowed an appeal seeking to
NCLAT | Corporate Debtor barred from taking a plea of no privity of contract where it had knowledge that the Operational Creditor operated under the name and style by which S. 9 IBC application is filed
National Company Law Appellate Tribunal (NCLAT): A Bench of Justice Bansi Lal Bhat, Member (Judicial) and Balvinder Singh, Member (Technical), dismissed an appeal filed
NCLAT | Pre-existing dispute regarding salary payable renders S. 9 IBC application not maintainable
National Company Law Appellate Tribunal (NCLAT), New Delhi: The Bench comprising of S.J. Mukhopadhaya (Chairperson) and A.I.S Cheema, Member (Technical) and Kanthi
NCLAT | Order of NCLT admitting S. 9 IBC application against ‘Sahara Q Shop’ upheld
National Company Law Appellate Tribunal (NCLAT): Justice S.J. Mukhopadhaya, Chairperson and Justice A.I.S. Cheema, Member (Judicial) and Kanthi Narahari, Member (Technical), dismissed
NCLAT | Foreign decree ex-parte and not on merits cannot be made the basis for initiation of corporate insolvency resolution process under S. 9 IBC
National Company Law Appellate Tribunal (NCLAT): Justice Bansi Lal Bhat and Balvinder Singh, Members (Judicial) held that the application filed by the appellant