NCLAT

Legal RoundUpTribunals/Regulatory Bodies/Commissions Monthly Roundup

17 Reports to Read: Medical Negligence, Zee Insider Trading, Membership Subscription charges for CENVAT Credit and more | Tribunals and Commissions Roundup of February 2022

Appellate Tribunal for Electricity (APTEL) State commission disallows benefit of increase in the tariff based on the change in law provision; Tribunal

Case BriefsTribunals/Commissions/Regulatory Bodies

Can application filed under S. 95(1) read with S. 60(1) IBC be rejected on ground that no Corporate Insolvency Resolution Process was pending against Corporate Debtor? NCLAT addresses

 If CIRP or Liquidation Proceeding of a Corporate Debtor is pending before a NCLT, application relating to Insolvency Process of Corporate or

Case BriefsTribunals/Commissions/Regulatory Bodies

If granting exclusion of time would help Corporate Debtor from liquidation, should NCLAT allow such exclusion? Here’s what NCLAT says

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice M. Venugopal (Judicial Member) and Dr Ashok Kumar Mishra (Technical

Case BriefsTribunals/Commissions/Regulatory Bodies

If a case was filed under IBC, can penalty be imposed under Companies Act? NCLAT addresses

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Dr Alok Srivastava (Technical Member) held

Op EdsOP. ED.

India Spawns the Pre-Packaged Insolvency for MSMEs in Motion— The Insolvency and Bankruptcy Code (Amendment) Act, 2021

by Swarnendu Chatterjee*and  G. Vidya Kamath**

Case BriefsTribunals/Commissions/Regulatory Bodies

Once Adjudicating Authority approves Resolution Plan, does it still remains a confidential document? Read what NCLAT says

National Company Law Appellate Tribunal (NCLAT): Justice Ashok Bhushan (Chairperson) and Dr Ashok Kumar Mishra (Technical Member) expressed that, once Resolution Plain

Case BriefsTribunals/Commissions/Regulatory Bodies

Dominant position and Predatory Pricing or Win-Win for riders and drivers? NCLAT upholds CCI’s decision

National Company Law Appellate Tribunal (NCLAT):  The Coram of Justice Jarat Kumar Jain (Judicial Member) and Dr Alok Srivastava (Technical Member) held

Case BriefsSupreme Court

Corporate Insolvency, Claims against Corporate Debtor and Period of Limitation; SC assesses impact of COVID-19 pandemic

Supreme Court: In a case relating to Corporate Insolvency, the Division Bench comprising of Indira Banerjee* and J.K. Maheshwari, JJ., quashed the

Op EdsOP. ED.

Payment of Stamp Duty vis-à-vis  Resolution Plan under Insolvency and Bankruptcy Code, 2016

by Swarnendu Chatterjee† and Simran Bais††

Case BriefsTribunals/Commissions/Regulatory Bodies

Is approval with 90% vote of CoC required before allowing withdrawal of CIRP application even where CoC was not yet constituted? NCLAT clarifies law on S. 12-A IBC

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Jarat Kumar Jain (Judicial Member) and

Case BriefsTribunals/Commissions/Regulatory Bodies

Insolvency for Individuals & Partnership Firms | Is it proper for NCLT to record finding regarding default when RP is yet to consider it and submit report? NCLAT discusses Ss. 95, 97, 99 IBC

National Company Law Appellate Tribunal, New Delhi (NCLAT): Coram of Justice Ashok Bhushan (Chairperson) and Justice Jarat Kumar Jain, Judicial Member and

Akaant MittalExperts Corner

Whether a Decree or an Arbitral Award or a Settlement Deed can form the Basis of a Financial or Operational Debt under IB Code

by Akaant Kumar Mittal†

Cite as: 2022 SCC OnLine Blog Exp 1

Case BriefsSupreme Court

“NCLT can encourage settlements, it cannot direct it by acting as courts of equity” SC holds NCLT has limited powers to either admit or reject an application u/s 7(5) of IBC

Supreme Court: The Division Bench comprising of Dr Dhananjaya Y Chandrachud* and A S Bopanna, JJ., held that the powers of NCLT

Op EdsOP. ED.

Hunch to Preserve the Telecom Sector Becomes a Window to Sabotage Concluded Resolution Processes

by Anurag Tripathi* and Naman Singh Bagga**

Case BriefsSupreme Court

“Any deviation would defeat the object and purpose of providing such time limit under IBC”; Supreme Court directs to speed up insolvency process of Amtek Auto  

Supreme Court: The Division Bench of M.R. Shah* and Sanjiv Khanna, JJ., directed to speed up the insolvency resolution process of Amtek

Case BriefsSupreme Court

Can NCLT entertain an arbitrable dispute? SC sets the yardsticks of residuary powers of NCLT under IBC

“The residuary jurisdiction of the NCLT cannot be invoked if the termination of a contract is based on grounds unrelated to the insolvency of the Corporate Debtor.”

Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT | Existence of Dispute prior to issuance of Demand Notice-NCLT and NCLAT in rhythm, rejects appeal

National Company Law Appellate Tribunal (NCLAT): The Coram of Ashok Bhushan, J (Chairperson), Jarat Kumar Jain, J (Judicial) and Dr Ashok Kumar

Op EdsOP. ED.

Decoding the Conundrum around the Retrospective Effect of Section 29-A IBC through the Evolution of the Famous Wig Associates Judgment

by Shuchi Sejwar† and Sanjana Sachdeva[*]

Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT| Finds raising a late ‘pre-existing dispute’, spurious and to avoid action under IBC| Denies to stay CIRP

National Company Law Appellate Tribunal (NCLAT) -The Coram of Justice Jarat Kumar Jain and Alok Srivastava, Technical Member while deciding an appeal

Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT | ‘Unhesitatingly’ decides the ‘unsustainability’| Nominee Director reminded of the not so nominal duties| Held: ‘Controlling by votes’ is ‘Controlling interest’  

National Company Law Appellate Tribunal-The Coram of Justice M. Venugopal, Acting Chairperson and Kanthi Narahari, Technical Member while concurring with the adjudicating