NCLAT

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While hearing an appeal challenging an impugned order passed by the Adjudicating Authority dismissing a S. 7 IBC application on the ground that the appellant was not able to establish debt and default, the Tribunal held that it is clear from the facts and circumstances the definition of debt and default is rightly established by the appellant and the Adjudicating Authority has committed a patent error while passing the impugned order.

Case BriefsSupreme Court

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.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

While deciding the present matter dealing with mistake in demand notice, NCLT held that “the Corporate Debtor has not and would not be prejudiced by fact that Operational Creditor has mentioned the wrong date of default due to its inadvertence.”

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APPELLATE TRIBUNAL FOR ELECTRICITY (ATE) Bureau of Energy Efficiency takes suo motu verification test on a sample refrigerator of Whirlpool India and

Delhi High Court
Case BriefsHigh Courts

The Delhi High Court held that adjudication of an avoidance application was independent of the resolution of the corporate debtor and could survive Corporate Insolvency Resolution Process (CIRP) and a Resolution Professional would not be functus officio with respect to adjudication of avoidance application.

Case BriefsSupreme Court

The Supreme Court had reservation to express its opinion on the merits of the case which would otherwise affect the proceedings pending before NCLAT and stated that the findings of the CCI at the interlocutory stage was neither without jurisdiction nor suffered from any error which would necessitate interference in the appeal.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

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.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal observed that once the CoC has decided to vote on the resolution plans after closure of challenge process, the Adjudicating Authority cannot direct the CoC to consider any revised plan submitted thereafter.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter an appeal was preferred against the order of NCLT admitting S. 7 IBC application or repayment of financial debt. Upholding the order of the NCLT, the Tribunal held that even if there is no proof of loan agreement other materials on record can prove the financial debt.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

In the instant matter, an appeal was filed challenging NCLT's order directing the CoC to reconsider its decision. Upholding the NCLT's order, the Tribunal held that when the CoC's decision for liquidation is in accordance with IBC, then only NCLT's obligation to direct liquidation will arise.