Supreme Court: Police May Freeze Bank Accounts under S.102 CrPC in Prevention of Corruption Cases  ||  SC: Arbitrator’s Mandate Ends on Time Expiry; Substituted Arbitrator Must Continue After Extension  ||  SC: Woman May Move Her Department’s ICC For Harassment by Employee of Another Workplace  ||  SC: Women’s Representation Requirement Applies to All Bar Associations in Gujarat  ||  SC: Contempt Power isn’t Judges’ Personal Shield nor a Tool to Silence Legitimate Criticism  ||  SC: Statutory Corporation Can Deduct under S.36(1)(viii) Only for Income from Long-Term Finance  ||  NCLT Kolkata: Costs for Compromise or Arrangement Scheme not Part of Liquidation Expenses  ||  NCLT Ahmedabad: Complaints Against Auditors or Company Secretaries Not Grounds for Company Probe  ||  SC: NCLT Can Forfeit Entire Deposit if Purchaser Defaults on Payment for Liquidation Assets  ||  Meghalaya HC: Non-Signatory or Non-Existent LLP Cannot Claim Arbitration via Group of Companies    

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 2025 - All Rights Reserved