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National Company Law Appellate Tribunal held that Adjudicating Authority cannot direct Resolution Professional to pay lease amount under Section 14(1)(d) of Insolvency and Bankruptcy Code, 2016, during CIRP
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While upholding the NCLT’s order of admission of fresh application and initiation of CIRP against the Corporate Debtor, the Tribunal held that the nature of financial debt would not change on account of breach of the consent terms.
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While adjudicating an appeal file with a delay of 55 days, the Tribunal held that S. 238 IBC overrides S. 12 of the Limitation Act, 1963 and therefore this Tribunal does not have power to condone a delay beyond a period of 45 days.
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National Company Law Appellate Tribunal held that rejection of application for initiation of Corporate Insolvency Resolution Process is inevitable if it is filed fraudulently and maliciously for purpose other than resolution of insolvency.
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In a case challenging the Adjudicating Authority’s order to withdraw from e-auction process and refund of EMD and first instalment, the Tribunal held that the Adjudicating Authority can allow the Successful Auction Purchaser to withdraw from e-auction process when the balance bid amount is due because of the attachment of the assets of the Corporate Debtor.
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The Central Electricity Regulatory Commission held that the imposition of Safeguard Duty through notification issued by Department of Revenue is a ‘Change in Law’ event as per Article 12 of Power Purchase Agreement.
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National Company Law Appellate Tribunal observed that once the CoC has decided to vote on the resolution plans after closure of challenge process, the Adjudicating Authority cannot direct the CoC to consider any revised plan submitted thereafter.
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In the instant matter an appeal was preferred against the order of NCLT admitting S. 7 IBC application or repayment of financial debt. Upholding the order of the NCLT, the Tribunal held that even if there is no proof of loan agreement other materials on record can prove the financial debt.
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The National Human Rights Commission recently called State Human Rights Commission Tamil Nadu and other authorities to act upon the dilapidated condition of District Child Protection Office, Royapuram.
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The Tribunal observed that an application under S. 12A cannot be entertained after approval of Resolution Plan by CoC.
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CESTAT states that cancelled flat bookings amount to non-performance of service,Held that Service tax is not applicable if no service is rendered.
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The Tribunal stated that since the first test report was deficient, it did not stand legal scrutiny and was directed to treat the second test report as the first test report in continuation of their investigation.
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NGT constitutes High Level Committee to be headed by Lieutenant Governer, Delhi to combat unabated pollution caused in River Yamuna and directed to adhere to the timelines laid down.
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“The request of Saya Cementations to be the promoter of the project along with Alisa Infratech to comply with all the pending and forthcoming obligations jointly and severely under the rules and regulations of the RERA Act was accepted by the Authority”
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National Company Law Appellate Tribunal, New Delhi: While deciding an appeal filed against the Competition Commission of India's (CCI) order imposing a
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In the instant matter, an appeal was filed challenging NCLT's order directing the CoC to reconsider its decision. Upholding the NCLT's order, the Tribunal held that when the CoC's decision for liquidation is in accordance with IBC, then only NCLT's obligation to direct liquidation will arise.
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In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.
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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.
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The Tribunal stayed the operation of notification issued by MoEF&CC modifying the EIA regime in respect of construction projects with built up area more than 20,000 sq. meters to 50,000 sq. meters and industrial sheds, educational institutions, hospitals and hostels for educational institutions more than 20,000 sq. meters upto 1,50,000 sq. meters.
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In the present case, a Liquidator filed an application before for release/refund of unlawful payment by the applicant. The Tribunal, partly allowing the appeal, upheld the refund of the amount of Rs.25,46,588/- and of the amount of Rs.1,08,797/- as no application for refund was filed for the said amount.
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