Supreme Court: Imminent Death Not Required For a Statement to Qualify as Dying Declaration  ||  SC: HC Cannot Grant Pre-Arrest Bail Without Quashing FIR; Accused Must Approach Sessions Court First  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: GST Exemption on Residential Lease Applies When Building is Sub-Leased for Hostel/PG Use  ||  Rajasthan High Court: Universities Cannot Retain Students’ Original Documents for Pending Fees  ||  NCLT: Damages from Contractual Disputes Cannot Form Basis for Initiating Insolvency Proceedings  ||  Del HC: Pre-SCN Consultation is Unnecessary in Large-Scale GST Fraud Cases with Complex Transactions  ||  Calcutta HC: Unilaterally Appointed Arbitrator Violates Natural Justice and Sets Aside the Award  ||  Raj HC Upholds Padmesh Mishra’s AAG Appointment, Noting Advocacy Skill isn’t Tied to Experience    

NCLAT Dismisses DBS Bank's Plea Challenging Distribution of Funds from Ruchi Soya Resolution Plan - (21 Nov 2019)

INSOLVENCY

National Company Law Appellate Tribunal has dismissed the plea of Singapore-based DBS Bank, a dissenting financial creditor of Ruchi Soya challenging the distribution of proceeds from the bid submitted by Patanjali Ayurveda. The Tribunal said that a secured creditor cannot dissent with the resolution plan just to get more funds than other creditors and claim preference over other creditors.

Tags : NCLAT   RUCHI SOYA  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved