NCLT Archives | Page 9 of 13

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

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

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

by Shivam Singhal†

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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.”

Case Briefs Tribunals/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

Case Briefs High Courts

Kar HC | Interplay between IBC and Companies Act regarding winding up petitions; Court decides in matter of transfer of company petition to NCLT

Karnataka High Court: S. Sunil Dutt Yadav, J., decided in the matter of a petition which was filed praying to transfer a

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Decoding Winding up by Special Resolution under the Companies Act, 2013

by Saai Sudharsan Sathiyamoorthy and Chandramouli Prabhakar*

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT | Debt acknowledged in emails, CIRP initiated resultantly-Appoints IRPM and declares moratorium

National Company Law Tribunal, New Delhi Bench, New Delhi –The Coram of P.S.N Prasad, Judicial Member and Narender Kumar Bhola, Technical Member

Case Briefs Tribunals/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