J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC  ||  Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment  ||  Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues  ||  SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted  ||  Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules  ||  Supreme Court: Post-Award Property Purchasers Cannot Resist Execution of an Arbitral Award  ||  SC: Telecom Spectrum is a Community Resource and its Ownership Cannot be Decided under the IBC  ||  SC: Police Failure to Invoke IPC Provisions Led to Contractor’s Acquittal in Cement Stockpiling Case  ||  SC: Bank’s Internal Classification of Debt as NPA Does Not Determine Limitation under the IBC  ||  Bombay HC: Clarifies Procedure for Executing Foreign Decrees    

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 :        

Disclaimer | Copyright 2026 - All Rights Reserved