National Company Law Appellate Tribunal Archives | Page 6 of 6

Order of stay/moratorium under the Companies Act, 2013 prohibits the initiation of any proceedings; Parties cannot be referred to Arbitration: Delhi High Court

The Delhi High Court ruled that the moratorium granted by the NCLAT, staying the institution of suits and proceedings against the Corporate Debtor, after the resolution process was initiated against it under Sections 241 and 242 of the Companies Act, 2013, was akin to an order of moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Rule 11 of NCLAT Rules 2016 cannot be invoked even if there is no provision in IBC to deal with certain circumstances: NCLAT

National Company Law Appellate Tribunal | Dismissing the appeals, a bench comprising of Rakesh Kumar Jain*, J. and Kanthi Narahari

Case Briefs Tribunals/Commissions/Regulatory Bodies

Plea of pre-existing dispute must co-relate with amount claimed by Operational Creditor: NCLAT

National Company Law Appellate Tribunal | Allowing the appeal as the impugned order is contrary to law, the bench comprising of Rakesh

Case Briefs Tribunals/Commissions/Regulatory Bodies

Fictional Scheme to benefit few selected related parties; NCLAT upholds Liquidation of Corporate Debtor

National Company Law Appellate Tribunal | A bench comprising of Ashok Bhushan, J., Dr. Alok Srivastava* (Technical Member) and Barun

Case Briefs Tribunals/Commissions/Regulatory Bodies

Approval/Non-approval of Resolution Plan is a commercial wisdom and Tribunal can’t interfere with the commercial wisdom: NCLAT

National Company Law Appellate Tribunal | Dismissing the appeal, Ashok Bhushan, J., Kanthi Narahari (Technical Member) and Barun Mitra (Technical

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Application under Section 7 IBC relating to the interest component due even if principal amount is not due, held maintainable

National Company Law Appellate Tribunal | Upholding the maintainability of an application filed under S. 7 IBC, a bench comprising of Rakesh

Case Briefs Tribunals/Commissions/Regulatory Bodies

Tyre Cartelization Matter | NCLAT remanded matter back to CCI; asks to review fines to save domestic tyre industry

National Company Law Appellate Tribunal | In a landmark judgment related to cartelization activities of five major domestic tyre manufactures

Case Briefs Tribunals/Commissions/Regulatory Bodies

Date of default and acknowledgement are two different events; NCLAT imposes penalty of Rs. 25 lakhs for attempting to stop implementation of a RERA order

National Company Law Appellate Tribunal | While dealing with an appeal challenging the impugned order passed by NCLT, Ashok Bhushan*, J., Dr.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Insolvency and Bankruptcy Code does not contemplate lookback period; Information and relevant documents not to be withhold from Liquidator to investigate transactions done even beyond two years from Insolvency Commencement Date

National Company Law Appellate Tribunal | While dealing with an appeal challenging the impugned order passed by NCLT, Anant Bijay

Case Briefs Tribunals/Commissions/Regulatory Bodies

No prohibition on advocate to represent different company in separate proceedings filed under Section 7 IBC: NCLAT

National Company Law Appellate Tribunal: While dealing with a matter seeking expunging the adverse remake made against the appellant, a

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether Adjudicating Authority is competent to pass order under Section 66 of IBC during subsistence of moratorium under Section 14 of IBC? NCLAT answers

National Company Law Appellate Tribunal : While deciding an issue as to whether the adjudicating authority is competent to pass

Case Briefs High Courts

Delhi High Court set aside arbitral award as it suffers from patent illegalities, and fraud and conflicts with the Public Policy of India

Delhi High Court: In a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (‘the Act’) for

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Rejection of Resolution Plan by the NCLT due to Non-Serious, Casual and Non-Diligent Conduct of Resolution Appellant is Good in Law

“The CIRP is a time bound process where timeline has been prescribed for each step. The CIRP cannot be allowed to continue for indefinite period.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Time taken for preparation of the certified copy of the order/judgment excluded for limitation under Section 61 of the Insolvency & Bankruptcy Code, 2016

National Company Law Appellate Tribunal: Dismissing a time-barred appeal, the Principal Bench of National Company Appellate Tribunal comprising of Ashok Bhushan, J.

Appointments & Transfers News

NCLT | Harish Chander Suri appointed as Technical Member in National Company Law Tribunal

S.O. 1474(E) — In exercise of the powers conferred by Section 408 of the Companies Act, 2013 (18 of 2013), the Central

Case Briefs Tribunals/Commissions/Regulatory Bodies

Corporate Insolvency Resolution Process to be ordered only upon the existence of default, not merely debt

National Company Law Appellate Tribunal (NCLAT): The NCLAT has held that initiation of Corporate Insolvency Resolution Process (“CIRP”) must be ordered only

Case Briefs Tribunals/Commissions/Regulatory Bodies

Dispute among stakeholders in corporate debtor company is not ‘dispute’ as contemplated under Section 5(6) of Insolvency and Bankruptcy Code

National Company Law Appellate Tribunal: The NCLAT has held in an appeal against a common order passed by the NCLT’s Allahabad Bench