Supreme Court: Seeks CBSE Reply on Gulf Students’ Plea || Bombay HC: Anticipatory Bail Rejected in Film Role Rape || Delhi HC: Fresh Bar Council Polls Denied Over Allegations || Delhi HC: Seeks Responses on CBSE OSM Evaluation Dispute || Kerala HC: Persons With Down Syndrome Get Protection and Guardianship under National Trust Act, 1999 || J&K&L HC: Contractual Staff Cannot Claim Payment Beyond Contract Period Without Proving Work || J&K&L HC: Revisional Powers U/S 15 Must be Exercised in Reasonable Time, Not After 20-Year Delay || MP High Court: Revoking Building Permission Without Fraud Proof Violates Right to Property || Madras HC: Centre’s Consent For Remission is Needed only When Sentence under Central Act is Ongoing || Delhi HC: Private School Employees Entitled to Child Care Leave Equivalent to Government Employees

NCLAT Dismisses PepsiCo Plea for Release of Machinery from Oceanic Tropical - (18 Nov 2019)

INSOLVENCY

National Company Law Appellate Tribunal has dismissed the plea of beverages giant Pepsico India Holdings seeking release of its machinery from Oceanic Tropical Fruits, which is under the insolvency process. Further the Tribunal observed that Pepsico India Holding cannot derive advantage of its own agreement with Oceanic Tropical Fruits over the Insolvency & Bankruptcy Code, 2016 which has provision of termination in case of bankruptcy or liquidation or similar situation to get the assets back.

Tags : NCLT PEPSICO

Share :