NCLT Archives

Legal RoundUp Tribunals/Regulatory Bodies/Commissions Monthly Roundup

18 Reports to Read: Dental Negligence, Shareholders right to remove Directors, Logix & Supertech insolvent and more|Tribunals and Commissions Roundup of March 2022

18 Reports to Read Competition Commission of India (CCI) Star India providing bouquet of channels at lesser prices resulting significant loss in

Case Briefs Tribunals/Commissions/Regulatory Bodies

Logix Insolvent? NCLT initiates insolvency proceedings against Logix City Developers

National Company Law Tribunal: The Coram of Bachu Venkat Balaram Das (Judicial Member) and Narender Kumar Bhola (Technical Member) initiates insolvency proceedings

Case Briefs Tribunals/Commissions/Regulatory Bodies

National Company Law Tribunal orders insolvency proceedings against Supertech: Indebted and defaulted repayment of loan

National Company Law Tribunal, New Delhi: The Coram of P.N. Prasad, Judicial Member and Rahul Bhatnagar, Technical Member, declared insolvency proceedings against

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Reduction of Capital’ is a ‘Domestic Affair’ of a particular company in which, ordinary, a Tribunal will not interfere because of the reason that it is a ‘majority decision’ which prevails: NCLAT

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Venugopal. M, Judicial Member and Kanthi Narahari, Technical Member, held

Case Briefs High Courts

If an advertisement for petition filed under S. 433 of Companies Act, 1956 is not published, will entire matter be transferred to NCLT? Meghalaya HC explains

Meghalaya High Court: Sanjib Banerjee, CJ, addressed a petition wherein a creditor’s winding-up petition was instituted under Section 433 of the Companies

Case Briefs District Court

Non-Disclosure of fact that a petition under S. 213 Companies Act is pending before NCLT, would amount to concealment of facts? Dwarka Courts answers

Dwarka Courts, New Delhi: Noting the complaint to be a complete abuse of process of law or in a manner sort of

Case Briefs High Courts

Can partners in dispute of an LLP or any other business entity carrying out business in different parts of country, file suit in any place where business is carried out? Del HC explains

Delhi High Court: Amit Bansal, J., expressed that an LLP or any other business entity can carry out business in different parts

Legal RoundUp Tribunals/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 Briefs High Courts

MEP Infra v. SDMC | Bom HC denies grant of interim relief to MEP Infra

Bombay High Court: The Division Bench of Milind N. Jadhav and S.J. Kathawalla, JJ., refused to grant any ad-interim order in favour

Case Briefs Tribunals/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

Op Eds OP. ED.

To File or not to File: Understanding the Jurisdictional Dilemma in Personal Guarantor’s Insolvency Resolution Process

by Shivam Singhal†

Op Eds OP. 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 Briefs Tribunals/Commissions/Regulatory Bodies

In case of an application being filed under S.7 of IBC, will insufficiency of stamp duty be looked into? NCLT decides

National Company Law Tribunal, Mumbai: The Coram of H.V. Subba Rao, Judicial Member addressed the relevancy of insufficiency of stamp duty under

Case Briefs Tribunals/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 Briefs Supreme 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

Case Briefs Tribunals/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 Briefs Supreme 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

Case Briefs Tribunals/Commissions/Regulatory Bodies

Attachment of Bank Accounts of a Corporate Debtor: Is it violative of S. 14 of IBC during pendency of Corporate Insolvency Resolution Process? NCLT explains

National Company Law Tribunal, Mumbai Bench: The Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member directed that

Case Briefs Supreme 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 Briefs Supreme 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.”