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The Court exonerated the charges of contravention of prescribing non-refundable participation fee levied on Liquidator of Corporate Debtor, however, he was found guilty of paying excess fees to BDO Restructuring Advisory LLP.
NCLAT stated that since the IBC overrides the SARFAESI Act, the Liquidator ought not to prefer a petition, based on the SARFAESI Act, and therefore Liquidator’s decision to classify the appellant as an unsecured financial creditor was illegal and invalid.
Supreme Court said that the mere expectation of the Liquidator that a still higher price may be obtained can be no good ground to cancel an otherwise valid auction and go for another round of auction.
NCLAT held that during the moratorium period under Section 14 of IBC, Customs Authorities are authorized to utilize Bank Guarantees and Fixed Deposits furnished against Zero Import Duty.
Supreme Court upheld the NCLT order that the provident fund, pension fund and gratuity fund are not part of the liquidation estate, for distribution under Section 53 of the IBC and the same has to be paid to the employees under the stated heads.
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.
National Company Law Appellate Tribunal | The bench comprising of M. Venugopal, J. and Naresh Salecha* (Technical Member) held that
National Company Law Appellate Tribunal | While dealing with an appeal challenging the impugned order passed by NCLT, Anant Bijay
National Company Law Tribunal, Chennai: The Bench of S. Ramathilagam, J., Judicial Member, and Anil Kumar B, Technical Member held that the
Supreme Court: The Division Bench of Hrishikesh Roy* and R. Subhash Reddy, JJ., while deciding on an appeal challenging dismissal of suit
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations,
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020.
National Company Law Appellate Tribunal (NCLAT): A Bench comprising of Justice S.J. Mukhopadhaya (Chairperson) and Justice B.L. Bhat (Judicial member) rejected an
by Kondapalli Sai Sumed Yasaswi*
The Central Registrar of Cooperative Societies, Department of Agriculture, Cooperation and Farmers’ Welfare, Ministry of Agriculture and Farmers’ Welfare, Government of India
National Company Law Tribunal, New Delhi: The Bench of M.M. Kumar, Chief Justice (Retd.), President and S.K. Mohapatra, Member (Technical) disposed of