Bringing you the Best Analytical Legal News
The present appeal raises substantial questions about the legal framework governing the withdrawal of a CIRP; the settlement of claims after the admission of an application instituted by a debtor; and the scope of the inherent powers vested in the NCLAT under Rule 11 of the NCLAT Rules.
The applicant must have spent considerable resources fighting the suit for the last 20 years and therefore, it would not be appropriate to deprive him of the opportunity to execute the decree obtained in his favour.
by Ankit Parhar† and Rashi Srivastava††
Cite as: 2023 SCC OnLine Blog Exp 55
The NCLAT held that there is no law which allows a third party or shareholders to settle the claims of Financial Creditor on behalf of the Corporate Debtor, M/s McDowell Holdings Limited.
National Company Law Appellate Tribunal | Dismissing the appeals, a bench comprising of Rakesh Kumar Jain*, J. and Kanthi Narahari
National Company Law Appellate Tribunal, Delhi: The Bench of Anant Bijay Singh, J., Judicial Member, and Shreesha Merla, Technical Member,
The Insolvency and Bankruptcy Board of India (IBBI) notified the following Amendment Regulations, 2020: (a) the Insolvency and Bankruptcy Board of India