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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 bank has acted in an arbitrary and illegal manner by claiming that the entire bid amount shall be deposited by the petitioner, while on the other hand, avoiding the question of the supervening legal impossibility, which debarred them from issuing Sale Certificate or handing over the physical possession of the property to petitioner.
“The term “personal guarantor” is defined under Section 5(22) of the IBC as “personal guarantor” means an individual who is the surety in a contract of guarantee to a corporate debtor.”
by Kartikey Mahajan, Siddhant Sharma and Jatan Rodrigues
Cite as: 2022 SCC OnLine Blog Exp 87
An order of attachment when made under the PMLA does not result in the corporate debtor or the Resolution Professional facing a fait accompli.
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has held that if there are two borrowers or if two
“A claim may not be barred by limitation. It is the remedy for realisation of the claim, which gets barred by limitation.”
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it
National Company Law Tribunal, Mumbai: The coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member, declared that the
Supreme Court: The bench of L. Nageswara Rao and BR Gavai*, JJ has held that the proceedings under the Securitisation and Reconstruction
National Company Law Appellate Tribunal (NCLAT), New Delhi: In a matter with regard to fees of resolution professional, the Coram of Justice
“If the original applicants and the majority of the home buyers are not permitted to close the CIRP proceedings, it would have a drastic consequence on the home buyers of real estate project.”
National Company Law Appellate Tribunal (NCLAT): The Coram of Anant Bijay Singh, J. (Judicial Member) and Shreesha Merla (Technical Member) while allowing
Delhi High Court: A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank/financial institution can institute
S.O. 1205(E).—In exercise of the powers conferred by the proviso to section 4 of the Insolvency and Bankruptcy Code, 2016 (31 of