Search Results for Tag : NCLAT New Delhi
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NCLAT: If Liquidation Cost Not Paid as Per Regulations, Security Interest Shall Stand Relinquished(11.12.2024)
NCLAT New Delhi bench has held that if the secured creditor does not pay the liquidation costs as per Regulation 21A(3) of the Liquidation Regulations.....
Tags : NCLAT New Delhi, Security Interest, Liquidation Cost
NCLAT: Secured Creditor to Pay Liquidator's Fees Under Regulations if Option u/s 52 IBC Exercised(13.12.2024)
NCLAT New Delhi bench has held that if the secured creditor opts to realise its security interest under Section 52 of the Insolvency and Bankruptcy Co.....
Tags : NCLAT New Delhi, Secured Creditor, Liquidation Regulations
NCLAT: Can’t Bar Petition u/s 7 of IBC for Default Committed Prior to S.10A Period(13.12.2024)
NCLAT New Delhi bench has held that a petition under section 7 of Insolvency and Bankruptcy Code, 2016 cannot be barred for any default which has been.....
Tags : NCLAT New Delhi, Corporate Debtor, IBC
NCLAT: If Settlement Fails, Deposit for One Time Settlement Proposal Remains Corp. Debtor's Asset(16.12.2024)
NCLAT New Delhi bench has held that the amount deposited by the Corporate Debtor with the bank in pursuance of One Time Settlement shall remain the co.....
Tags : NCLAT New Delhi, One Time Settlement, Corporate Debtor
NCLAT: Can’t Challenge Non-Admission of Claim by RP for the First Time in Appeal(19.12.2024)
NCLAT New Delhi bench has held that if non - admission of claim by Resolution Professional is not challenged before the Adjudicating Authority then th.....
Tags : NCLAT New Delhi, Non-Admission, Resolution Professional
NCLAT: Can’t Extend CIRP beyond 330 Days u/s 12(3) of IBC Unless Exceptional Circumstances Present(19.12.2024)
NCLAT New Delhi bench has held that, under Section 12(3) of Insolvency and Bankruptcy Code, 2016 the maximum timeline prescribed for CIRP is 330 days .....
Tags : NCLAT New Delhi, Exceptional Circumstances, CIRP
NCLAT: Can Replace Authorised Representative by Following Procedure Provided under CIRP Regulations(20.01.2025)
NCLAT New Delhi bench has held that an application before the Adjudicating Authority to replace the Authorised Representative cannot be entertained be.....
Tags : NCLAT New Delhi, Authorised Representative, Regulation 16(3A)
NCLAT: Can Recall Admission Order of Application U/S 7 of IBC if Malicious Intent is Proved(20.01.2025)
NCLAT New Delhi bench has held that the Adjudicating Authority has jurisdiction under the Insolvency and Bankruptcy Code, 2016(IBC) to recall admissio.....
Tags : NCLAT New Delhi, Adjudicating Authority, IBC
Gujarat High Court, 4% Reservation, Persons With Disabilities(22.01.2025)
NCLAT New Delhi bench has held that adjudicating authority can decide issue of maintainability of application under section 7 of Insolvency and Bankru.....
Tags : NCLAT New Delhi, Adjudicating Authority, Substantive Issues
NCLAT: Cannot Treat Claims Arising u/s 11E of Central Excise Act as Secured Debt(27.01.2025)
NCLAT New Delhi Bench has held that claims that arise under Section 11E of the Central Excise Act, 1944 cannot be treated as a secured debt.
Tags : NCLAT New Delhi, Secured Debt, Section 11E
NCLAT: Can’t Condone Delay Beyond 15 Days in Filing Appeal(27.01.2025)
NCLAT New Delhi bench has held that as per proviso under Section 61(2) of the Insolvency and Bankruptcy Code, 2016 delay in filing appeal beyond 15 da.....
Tags : NCLAT New Delhi, 15 Days, Section 61(2)
NCLAT: App. u/s 95 IBC is Maintainable against Personal Guarantor Even if No CIRP Process Initiated(27.01.2025)
NCLAT New Delhi bench has held that an application under section 95 of the Insolvency and Bankruptcy Code (IBC) is maintainable against the personal g.....
Tags : NCLAT New Delhi, Personal Guarantor, CIRP Process
NCLAT Grants Partial Relief to Whatsapp by Staying Ban on its Data-Sharing Policy(27.01.2025)
NCLAT New Delhi bench has granted relief to Whatsapp by staying an order passed by Competition Commission of India banning Whatsapp from sharing user .....
Tags : NCLAT New Delhi, Data-Sharing Policy, Whatsapp
NCLAT: Can’t Question Consideration and Subsequent Rejection of RP by CoC Submitted after Due Date(19.03.2025)
NCLAT New Delhi bench has held that there cannot be any questioning of the consideration and subsequent rejection of a Resolution Plan (RP) by the Com.....
Tags : NCLAT New Delhi, Consideration, Subsequent Rejection
NCLAT: Can’t Admit Application u/s 9 of IBC When Debt is Discharged after Receipt of Demand Notice(21.03.2025)
NCLAT New Delhi bench has held that application under Section 9 of the Insolvency and Bankruptcy Code, 2016 cannot be admitted if the corporate debtor.....
Tags : NCLAT New Delhi, Section 9, Corporate Debtor
NCLAT: Can’t Consider Allottee Financial Creditor When Allotted Unit Cancelled at their Request(21.03.2025)
NCLAT New Delhi has held that there cannot be a consideration of an allottee of a unit as a financial creditor if the allotted unit has been cancelled.....
Tags : NCLAT New Delhi, Financial Creditor, Allotted Unit
NCLAT: Time Extension for Payment of Sale Consid. Beyond 90 Days Can Only be Done by Adj. Authority(21.03.2025)
NCLAT New Delhi bench has held that only the adjudicating authority can extend the time for payment of sale consideration beyond 90 days under Schedul.....
Tags : NCLAT New Delhi, Adjudicating Authority, Sale Consideration
NCLAT: Post-Submission, CoC Can’t Remit Approved Resolution Plan(21.03.2025)
NCLAT New Delhi bench has held that Committee of Creditors (CoC) cannot remit Resolution Plan for fresh consideration once it has been approved by CoC.....
Tags : NCLAT New Delhi, Committee of Creditors, Adjudicating Authority
NCLAT: Can’t Terminate Lease Hold Rights in Favor of CD During Moratorium Period(24.03.2025)
NCLAT New Delhi bench has held that there cannot be a termination of lease hold rights in favour of Corporate Debtor during the moratorium period unde.....
Tags : NCLAT New Delhi, Lease Hold Rights, Section 14
NCLAT: To Reject Application u/s 9 of IBC Reflection of Genuine Pre Existing Dispute Sufficient(24.03.2025)
NCLAT New Delhi Bench has held that for rejection of an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), reflection of a.....
Tags : NCLAT New Delhi, Pre Existing Dispute, Section 9
NCLAT: Can’t Interfere with Approval of RP Permitting Creditor to Take Action against Guarantees(20.02.2025)
NCLAT New Delhi bench has held that there cannot be interference with approval of a resolution plan containing a clause that creditors can take approp.....
Tags : NCLAT New Delhi, Resolution Plan, Creditors
NCLAT: No Requirement of Fresh Form G When EoI Permits Extension of Timeline(21.02.2025)
NCLAT New Delhi bench has held that there is no requirement of issuance of fresh Form G in case of modification in Invitation of Expression of Interes.....
Tags : NCLAT New Delhi, Extension of Timeline, Fresh Form G
NCLAT: One Lone Homebuyer Cannot Challenge Approval of Resolution Plan(24.02.2025)
NCLAT New Delhi bench has held that one lone homebuyer cannot challenge the approval of Resolution Plan and has to go with the majority decision of th.....
Tags : NCLAT New Delhi, One Lone Homebuyer, Resolution Plan
NCLAT: Cannot Seek Relief u/s 60(5) of IBC when Remedy u/s 42 is Not Exhausted(24.02.2025)
NCLAT New Delhi bench has held that relief against rejection of claims by the liquidator cannot be claimed under section 60(5) of the Insolvency and B.....
Tags : NCLAT New Delhi, Section 60(5), Section 42
NCLAT: Injecting Funds in CD for Profits Would Come within Definition of Financial Debt(24.02.2025)
NCLAT New Delhi bench has held that infusion of funds in the Corporate Debtor (CD) with the purpose of generating profits would come within the defini.....
Tags : NCLAT New Delhi, Financial Debt, Corporate Debtor
NCLAT: Beneficiaries of Personal Guarantee Can Initiate PIRP against Personal Guarantor(25.02.2025)
NCLAT New Delhi bench has held that Personal Insolvency Resolution Process (PIRP) can be initiated by beneficiaries of personal guarantee against Pers.....
Tags : NCLAT New Delhi, Personal Guarantee, Personal Guarantor
NCLAT: In Case of Personal Guarantor, Date of Default Depends on Contract of Guarantee’s Terms(20.12.2024)
NCLAT New Delhi bench has held that liability of a Guarantor arises from the contract of guarantee and hence the date of default in the case of the gu.....
Tags : NCLAT New Delhi, Personal Guarantor, Date of Default
NCLAT: Resolution Plan Approved by Committee of Creditors is Binding on All Stakeholders(20.12.2024)
NCLAT New Delhi bench has held that Resolution Plan approved by the Committee of Creditors (CoC) shall be binding on all the stakeholders including th.....
Tags : NCLAT New Delhi, Committee of Creditors, Resolution Plan
NCLAT: If Ownership Uncertain, Non-Impleadment of Owner as Party in App. u/s 19 of IBC Not Malafide(23.12.2024)
NCLAT New Delhi bench has held that if there is uncertainty over the ownership of the premises then non-impleadment of owner in an application under S.....
Tags : NCLAT New Delhi, Non-Impleadment, Malafide
NCLAT: Submission of Status Report in Cr. Proceeding Won’t Have Bearing While Deciding App u/s 7 IBC(26.12.2024)
NCLAT New Delhi bench has held that while deciding an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 submission of status rep.....
Tags : NCLAT New Delhi, Status Report, Criminal Proceeding
NCLAT: RP Can Withdraw Application u/s 12A of IBC Before it is Heard or Allowed(26.12.2024)
NCLAT New Delhi bench has held that a Resolution Professional can withdraw a CIRP withdrawal application under Section 12 of the Insolvency and Bankru.....
Tags : NCLAT New Delhi, Resolution Professional, CIRP
NCLAT: If Resolution Applicant’s Plan Rejected by CoC, RA Can Participate in Fresh Invitation(06.01.2025)
NCLAT New Delhi bench has held that if CoC disapproves resolution plan including revised plan submitted by the resolution applicant, the same resoluti.....
Tags : NCLAT New Delhi, Resolution Applicant, Freshly Issued Invitation
NCLAT: Cannot Extend Period of Moratorium u/s 101 of IBC beyond 180 Days(27.01.2025)
NCLAT New Delhi bench has held that when statute provides a date for cessation of the Moratorium it cannot be extended by the Adjudicating Authority o.....
Tags : NCLAT New Delhi, Moratorium, 180 Days
NCLAT: Can Recall Orders u/s 11 of NCLT Rules if Obtained through Fraud(27.01.2025)
NCLAT New Delhi bench has held that an Adjudicating Authority can always exercise its inherent jurisdiction and recall orders obtained through fraud u.....
Tags : NCLAT New Delhi, Adjudicating Authority, Inherent Jurisdiction
NCLAT Dismisses Appeal against Order Rejecting Application u/s 9 of IBC against Hindustan Unilever(30.01.2025)
NCLAT New Delhi bench has dismissed an appeal filed against an order that rejected an application under section 9 of the Insolvency and Bankruptcy Cod.....
Tags : NCLAT New Delhi, Hindustan Unilever, IBC
NCLAT: Withdrawal of Liquidation App. Permitted When CoC file App. for Extension of CIRP Time Period(30.01.2025)
NCLAT New Delhi bench has observed that when the CoC has already taken decision to file an application for extension of CIRP time period and granted p.....
Tags : NCLAT New Delhi, Adjudicating Authority, Time Period
NCLAT: Must Distribute Liquidation Proceeds amongst Secured Creditors on Basis of Admitted Claims(30.01.2025)
NCLAT New Delhi bench has held that liquidation proceeds must be distributed to secured creditors on the basis of secured claims as per Section 53 of .....
Tags : NCLAT New Delhi, Secured Creditors, Liquidation Proceeds
NCLAT: Creditors Not Party to Trusteeship Deed are Not Barred from Enforcing Personal Guarantee(31.01.2025)
NCLAT New Delhi bench has held that even if creditors are not party to the trusteeship deed signed between a trust and the personal guarantors on thei.....
Tags : NCLAT New Delhi, Trusteeship Deed, Personal Guarantors
NCLAT: If Tribunal Closed on Last Day of Filing Appeal, it can be Filed on the Day Tribunal Reopens(25.02.2025)
NCLAT New Delhi bench has held that, if on the last day of filing an appeal under section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) the Tri.....
Tags : NCLAT New Delhi, Filing Appeal, Tribunal Reopens
NCLAT: NCLT Empowered to Decide if SRA Liable to Pay Pre-CIRP Electricity Dues u/s 60(5) Of IBC(27.02.2025)
NCLAT New Delhi bench has held that NCLT has the authority to decide whether Successful Resolution Applicant is liable to pay Pre-CIRP electricity due.....
Tags : NCLAT New Delhi, Successful Resolution Applicant, Electricity Dues
NCLAT: Cannot Disconnect Electricity Supply During Moratorium Period as Per Section 14(2) of IBC(27.02.2025)
NCLAT New Delhi bench has held that during moratorium period under section 14 of the Insolvency and Bankruptcy Code, 2016 (Code), electricity being an.....
Tags : NCLAT New Delhi, Electricity Supply, CIRP Period
NCLAT: When CD Doesn’t Unequivocally Admit Debt, Application u/s 9 Must Not be Entertained(28.02.2025)
NCLAT New Delhi bench has held that when the debt is not unequivocally admitted by the Corporate Debtor (CD), application under Section 9 of the Insol.....
Tags : NCLAT New Delhi, Section 9, Corporate Debtor
NCLAT: Cannot Consider Serving Demand Notice to Personal Guarantor as Invocation of Guarantee(03.03.2025)
NCLAT New Delhi bench has held that notice under Rule 7 of Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution .....
Tags : NCLAT New Delhi, Demand Notice, Personal Guarantor
NCLAT: Can’t Question Order Approving RP When Application Seeking Approval Filed within Time(03.03.2025)
NCLAT New Delhi bench has held that when an order approving the Resolution Plan (RP) is passed by the Adjudicating Authority after expiry of 330 days .....
Tags : NCLAT New Delhi, Resolution Plan, Adjudicating Authority
NCLAT: Security to Become Part of Liquidation Estate if Creditor Fails to Deposit Amount in 90 Days(24.03.2025)
NCLAT New Delhi bench has held that security shall become part of the liquidation estate if there is failure on part of a secured creditor to deposit .....
Tags : NCLAT New Delhi, Liquidation Estate, 90 Days
NCLAT: Fresh Limitation Period Commences from Date when CD Signs Balance Sheet(27.03.2025)
NCLAT New Delhi bench has held that for the purpose of filing an application under section 7 of the Insolvency and Bankruptcy Code, 2016 fresh period .....
Tags : NCLAT New Delhi, Fresh Limitation Period, Corporate Debtor
NCLAT: Can’t Recall Order Passed after Considering Materials Important for Determination of Issue(27.03.2025)
NCLAT New Delhi bench has held that if an order has been passed by Adjudicating Authority after consideration of all the necessary materials that are .....
Tags : NCLAT New Delhi, Adjudicating Authority, Determination of Issue
NCLAT: Must Admit Application u/s 7 When CD’s OTS Proposal is Rejected(27.03.2025)
NCLAT New Delhi bench has held that an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 must be admitted when a One-Time Settle.....
Tags : NCLAT New Delhi, Application, OTS Proposal
NCLAT Partially Upholds CCI’s Decision that Google Leveraged its Dominance in Play Store Ecosystem(01.04.2025)
NCLAT New Delhi bench has partially upheld the Competition Commission of India’s decision that Google leveraged its dominance in the Play Store ecosys.....
Tags : NCLAT New Delhi, Play Store, Google Play
NCLAT: Unless Amendment Application Filed, Authority Can’t Suo Motu Amend Date of Default(04.04.2025)
NCLAT New Delhi bench has held that unless an amendment application is filed, the adjudicating authority cannot suo moto amend the date of default men.....
Tags : NCLAT New Delhi, Amendment Application, Suo Motu
NCLAT: Corporate Debtor’s Last Payment within Limitation Period Amounts to Acknowledgement(06.01.2025)
NCLAT New Delhi bench has held that Corporate Debtor’s act of making last payment within the limitation period amounts to acknowledgement under Sectio.....
Tags : NCLAT New Delhi, Limitation Period, Last Payment
NCLAT: Corporate Debtor’s Last Payment within Limitation Period Amounts to Acknowledgement(06.01.2025)
NCLAT New Delhi bench has held that Corporate Debtor’s act of making last payment within the limitation period amounts to acknowledgement under Sectio.....
Tags : NCLAT New Delhi, Limitation Period, Last Payment
NCLAT Upholds Canara Bank’s Claims for Loans Advanced to CD on behalf of Homebuyers(14.01.2025)
NCLAT New Delhi bench has upheld the claims of Canara Bank for loans advanced to the corporate debtor (CD) on behalf of the Homebuyers for the reason .....
Tags : NCLAT New Delhi, Canara Bank, Corporate Debtor
NCLAT: Claims Subsequent to Cut-off Date to be Dealt as Per RP by Adjudicating Authority(14.01.2025)
NCLAT New Delhi bench has held that claims that are filed subsequent to cut off date shall be dealt in accordance with the Resolution Plan approved by.....
Tags : NCLAT New Delhi, Adjudicating Authority, Cut-off Date
NCLAT: While Dismissing Appeal for Non-Prosecu., Adj. Authority Can’t Direct Dismissal on Merits Too(14.01.2025)
NCLAT New Delhi bench has held that when an adjudicating authority dismisses an appeal on ground of non- prosecution, it cannot add a direction that a.....
Tags : NCLAT New Delhi, Adjudicating Authority, Non-Prosecution
NCLAT: Adjudicating Authority Can’t Decide Workers' Claims for Layoff Period Dues under ID Act(14.01.2025)
NCLAT New Delhi bench has held that it is not within the domain of the Adjudicating Authority to decide whether the workers are entitled to claim thei.....
Tags : NCLAT New Delhi, Adjudicating Authority, Layoff Period
NCLAT: For Calculating Limitation Period, Period from 15.3.2020 to 28.2.2022 shall stand excluded(14.01.2025)
NCLAT New Delhi bench has held that for the purpose of calculating the limitation period while filing an application under Section 9 of the IBC, perio.....
Tags : NCLAT New Delhi, Limitation Period, Supreme Court Judgement
NCLAT: Can’t Set Aside Liquidation Order u/s 33 IBC When 3rd Party has Taken Possession of Property(04.04.2025)
NCLAT New Delhi bench has held that liquidation order passed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 cannot be set aside once .....
Tags : NCLAT New Delhi, Liquidation Order, Possession of Property
NCLAT: Committee of Creditors Within its Right to Resolve to Liquidate Go Airlines(07.04.2025)
NCLAT New Delhi bench has held that in absence of any compliant resolution plan, Committee of Creditors (CoC), acting in accordance with Section 33(2).....
Tags : NCLAT New Delhi, Go Airlines, Corporate Debtor
NCLAT: Can’t Preclude Financial Creditors from Filing Applic. in Case of Settlement Agreement Breach(07.04.2025)
NCLAT New Delhi bench has held that merely because financial creditors have entered into a settlement agreement with the corporate debtor that was sub.....
Tags : NCLAT New Delhi, Settlement Agreement, IBC
NCLAT: Adjudicating Authority Must Conduct Independent Assessment under IBC(07.04.2025)
NCLAT New Delhi bench has held that while considering the report of the Resolution Professional submitted under Section 99 of the Insolvency and Bankr.....
Tags : NCLAT New Delhi, Independent Assessment, Adjudicating Authority
NCLAT: Assets Reflecting in Corporate Debtor’s Balance Sheet form Part of Liquidation Estate(07.04.2025)
NCLAT New Delhi bench has held that assets reflecting in the Corporate Debtor’s balance sheet form part of the liquidation estate under Section 36 of .....
Tags : NCLAT New Delhi, Corporate Debtor, Balance Sheet
NCLAT: Can File Appeal against NCLT Order Initiating Insolvency Process against Personal Guarantors(07.04.2025)
NCLAT New Delhi bench has held that personal guarantors can file appeal under Section 61 of Insolvency and Bankruptcy Code, 2016 against NCLT’s order .....
Tags : NCLAT New Delhi, Insolvency Process, Personal Guarantors
NCLAT: In Absence of Express Agreement between Parties Authority Can’t Assume Appl. of Interest(21.04.2025)
NCLAT New Delhi bench has held that unless there is a specific contract between the parties the Adjudicating Authority cannot presume the applicabilit.....
Tags : NCLAT New Delhi, Express Agreement, Adjudicating Authority
NCLAT: Can’t Automatically Change Date of Default Pleaded U/S 7 of IBC on Basis of Arbitral Award(21.04.2025)
NCLAT New Delhi bench has held that there cannot be change in the date of default mentioned in Part IV of the application under Section 7 of the Insol.....
Tags : NCLAT New Delhi, Date of Default, Arbitral Award
NCLAT: Can’t Entertain Petition u/s 7 of IBC during Moratorium Period Under Restructuring Proposal(21.04.2025)
NCLAT New Delhi bench has held that debenture holders cannot be permitted to file an application under Section 7 of the Insolvency and Bankruptcy Code.....
Tags : NCLAT New Delhi, Moratorium Period, Restructuring Proposal
NCLAT: Can’t Use Section 94 of IBC to Hinder Recovery Process under SARFAESI Act(28.04.2025)
NCLAT New Delhi bench has held that Section 94 of the Insolvency and Bankruptcy Code, 2016 cannot be misused to obstruct legitimate recovery under SAR.....
Tags : NCLAT New Delhi, Recovery Process, SARFAESI Act
NCLAT: Adjudica. Authority Can’t Ignore Sufficient Material to Show Dispute u/s 9(5)(ii)(d) of IBC(30.04.2025)
NCLAT New Delhi bench has held that if there is sufficient material to show existence of a dispute under Section 9(5)(ii)(d) of the Insolvency and Ban.....
Tags : NCLAT New Delhi, Sufficient Material, Adjudicating Authority
NCLAT: Can’t Maintain Joint Application if Individuals Claims do Not Meet Threshold Limit(05.05.2025)
NCLAT New Delhi bench has held that a joint application filed by operational creditors under Section 9 of the Insolvency and Bankruptcy Code, 2016 sha.....
Tags : NCLAT New Delhi, Joint Application, Operational Creditor
NCLAT: Cannot Consider Interest Free Maintenance Fee Deposited by Allottees as Financial Debt(03.03.2025)
NCLAT New Delhi bench has held that the payment of interest free maintenance fee to be made by allottees to the corporate debtor under the Conveyance .....
Tags : NCLAT New Delhi, Maintenance Fee, Financial Debt
NCLAT: No Jurisdiction on NCLT to Convict Person for Offence under Section 68 of IBC(03.03.2025)
NCLAT New Delhi bench has held that the in view of Section 236(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), National Company Law Tribunal (NC.....
Tags : NCLAT New Delhi, NCLT, Section 68
NCLAT: Approval of RP Can’t be Questioned by OC When Provided with More than Liquidation Value(07.03.2025)
NCLAT New Delhi bench has held that Operational Creditors cannot question Resolution Plan approved by the Adjudicating Authority when they are provide.....
Tags : NCLAT New Delhi, Operational Creditors, Resolution Plan
NCLAT: Expecting SRA to Accept Belated Claims would tantamount to subjecting SRA to Uncertainty(10.03.2025)
NCLAT New Delhi bench while dismissing appeals filed after an inordinate delay under Section 61 of IBC, 2016, has observed that to expect belated clai.....
Tags : NCLAT New Delhi, Belated Claims, Successful Resolution Applicant
NCLAT: Resolution Plan of Corporate Debtor to be Proceeded Strictly(10.03.2025)
NCLAT New Delhi bench while dismissing an appeal filed by the suspended directors of the Supertech Township Projects Ltd, has stated that resolution p.....
Tags : NCLAT New Delhi, Resolution Plan, Corporate Debtor
NCLAT: Can’t Lay Down Straight Jacket Formula for Adjudication of Application u/s 12A of IBC(10.03.2025)
NCLAT New Delhi bench has held that for adjudication of application under Section 12A of Insolvency and Bankruptcy Code, 2016 by the Adjudicating Auth.....
Tags : NCLAT New Delhi, Straight Jacket Formula, Adjudication of Application
NCLAT: When Revival Not Viable Option, Decision to Liquidate Corporate Debtor can’t be Faulted(31.01.2025)
NCLAT New Delhi bench has held that when revival of corporate debtor is not a viable option, then the decision taken by Committee of Creditors to liqu.....
Tags : NCLAT New Delhi, Corporate Debtor, Viable Option
NCLAT: Can’t Interfere with CoC’s Commercial Wisdom to Distribute Amount Based on Security Interest(03.02.2025)
NCLAT New Delhi has observed that if the provisions of Insolvency and Bankruptcy Code, 2016 are complied with then there cannot be interference in the.....
Tags : NCLAT New Delhi, Commercial Wisdom, Security Interest
NCLAT: Can’t Condone Delay of 115 Days in Refiling Appeal on Frivolous Grounds(07.02.2025)
NCLAT New Delhi bench while refusing to condone delay of 115 days in refilling appeal, has observed that condoning delay on frivolous grounds would be.....
Tags : NCLAT New Delhi, Refiling Appeal, Frivolous Grounds
NCLAT: Upon Approval of Resolution Plan, Claims not Included in RP Stand Extinguished(10.02.2025)
NCLAT New Delhi bench has restated that all claims which are not included in Resolution Plan stand extinguished upon approval of the plan.
Tags : NCLAT New Delhi, Claims, Resolution Plan
NCLAT: Resolution Professional Can’t Admit Claims Based On Uninvoked Guarantee(10.02.2025)
NCLAT New Delhi bench has held that any claim based on uninvoked guarantee given by the corporate debtor cannot be admitted by the Resolution Professi.....
Tags : NCLAT New Delhi, Uninvoked Guarantee, Resolution Professional
NCLAT: When S. 54C App. is Filed 14 Days after S.7 Application, the Latter should be Decided First(12.02.2025)
NCLAT New Delhi bench has held that as per section 11A(3) of IBC, application under Section 7 must be decided first when application under section 54C.....
Tags : NCLAT New Delhi, Section 54C, IBC
NCLAT: Project Management Committee Constituted under Agreement Doesn’t Absolve CD from Obligations(12.02.2025)
NCLAT New Delhi bench has held that if a Project Management Committee comprising members of financial creditors and corporate debtor has been constitu.....
Tags : NCLAT New Delhi, Project Management Committee, Corporate Debtor
NCLAT: Court Must Adopt Lenient Approach While Condoning Delay in Refiling(09.04.2025)
NCLAT New Delhi bench has held that the court must adopt a lenient approach while condoning the delay in refiling an appeal. However, sufficient cause.....
Tags : NCLAT New Delhi, Lenient Approach, Condoning Delay
NCLAT: Under Section 99 of IBC Ten-Day Time Period is Directory Not Mandatory(09.04.2025)
NCLAT New Delhi bench has held that under Section 99 of the Insolvency and Bankruptcy Code, 2016 the ten day period within which the Resolution Profes.....
Tags : NCLAT New Delhi, Section 99, Resolution Professional
NCLAT: Serving Notice on E-Mail Provided in Section 7 Petition is Sufficient Compliance(09.04.2025)
NCLAT New Delhi bench has held that serving notice on the e-mail address provided in petition under Section 7 of the Insolvency and Bankruptcy Code, 2.....
Tags : NCLAT New Delhi, Serving Notice, Sufficient Compliance
NCLAT: Can’t Entertain Petition u/s 7 on Basis of Guarantee Invoked During Prohibited Period(09.04.2025)
NCLAT New Delhi bench has held that an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 cannot be maintained if guarantee is in.....
Tags : NCLAT New Delhi, Guarantee, Prohibited Period
NCLAT: No Requirement of Opportunity of Being Heard at Stage of Report Submission u/s 99 of IBC(10.04.2025)
NCLAT New Delhi bench has held that there is no requirement of the opportunity of being heard at the stage when a report under Section 99 of the Insol.....
Tags : NCLAT New Delhi, Section 99, Recommendatory
NCLAT: Acknowledgment of Debt in Writing Extends Limitation Period for Initiating CIRP(14.04.2025)
NCLAT New Delhi bench has held that written acknowledgment of debt extends the period of limitation for initiating the CIRP under Section 9 of the IBC.....
Tags : NCLAT New Delhi, Acknowledgment of Debt, CIRP
NCLAT: Can’t Submit Claim after Approval of RP if Creditor was Aware of Initiation of CIRP(05.05.2025)
NCLAT New Delhi bench has held that a creditor cannot submit a claim after the Resolution Plan has been approved by the Committee of Creditors if the .....
Tags : NCLAT New Delhi, CIRP, Resolution Plan
NCLAT Dismisses Appeal by a Contractor against DLF(06.05.2025)
NCLAT New Delhi bench has dismissed an appeal filed by a contractor against DLF u/s 61 of IBC, 2016 claiming a debt and stated that multiple exchanges.....
Tags : NCLAT New Delhi, Corporate Debtor, Operational Creditor
NCLAT: Assignee’s Name Absent in Balance Sheets Doesn’t Negate Applicability of Limitation Act(06.05.2025)
NCLAT New Delhi bench has held that absence of assignee’s name to whom debt was assigned, from the balance sheets does not negate the applicability of.....
Tags : NCLAT New Delhi, Balance Sheets, Section 18
NCLAT: Can’t Reject App. for Approval of RP Solely on Basis of Withdrawal of Consent by CoC Members(09.05.2025)
NCLAT New Delhi bench has held that there cannot be rejection of an application seeking approval of a Resolution Plan (RP) merely on the basis of with.....
Tags : NCLAT New Delhi, Resolution Plan, Committee of Creditors
NCLAT: Under IBC there is No Provision Mandating RP to Share Valuation Report(09.05.2025)
NCLAT New Delhi bench has held that under the Insolvency and Bankruptcy Code, 2016 there is no provision that makes it mandatory for the Resolution Pr.....
Tags : NCLAT New Delhi, Corporate Debtor, Resolution Professional
NCLAT: To Satisfy Requirement of S.8 Service of Demand Notice on Registered E-Mail of CD Sufficient(12.05.2025)
NCLAT New Delhi bench has held that to meet the requirements of Section 8 of the Insolvency and Bankruptcy Code, 2016 issuance of a demand notice to t.....
Tags : NCLAT New Delhi, Section 8, Demand Notice
NCLAT: CoC Can’t Consider Other Plan Once RP is Approved by CoC & Submitted to Authority(13.02.2025)
NCLAT New Delhi bench has held that Committee of Creditors (CoC) cannot consider any other plan once it has approved the Resolution Plan (RP) and subm.....
Tags : NCLAT New Delhi, Resolution Plan, Adjudicating Authority
NCLAT: Can’t Change Related Party Status Estb. through Agreement by Sending Notice against Terms(18.02.2025)
NCLAT New Delhi bench has held that by sending a termination notice against the expressed terms of the agreement, related party status established thr.....
Tags : NCLAT New Delhi, Related Party Status, Termination Notice
NCLAT: Even if No Reply is Given to Demand Notice, CD Not Barred from Contesting App. u/s 9(18.02.2025)
NCLAT New Delhi bench has held that Corporate Debtor cannot be barred from contesting the application filed under section 9 of IBC even if no reply wa.....
Tags : NCLAT New Delhi, Corporate Debtor, Operational Creditor
NCLAT: If No Lease Deed is Shown by 3rd Party, Machinery Hypothecated by CD Remains Its Asset(18.02.2025)
NCLAT New Delhi bench has held that if no lease deed is shown under which third party is claiming to be the owner of the machinery hypothecated by Cor.....
Tags : NCLAT New Delhi, Corporate Debtor, Lease Deed
NCLAT: Non-Registration of Charge not Sine Qua Non for Creditor to be Treated as ‘Secured Creditor’(18.02.2025)
NCLAT New Delhi bench has held that non-registration of “charge” as per Section 77 of Companies Act, 2013 is not a sine qua non for a Creditor to be t.....
Tags : NCLAT New Delhi, Sine Qua Non, Secured Creditor
NCLAT: Can’t Categorize Security Deposit Without Intention of Commercial Effect of Borrowing, as FD(18.02.2025)
NCLAT New Delhi bench has held that the security amount deposited under a Memorandum of Understanding (MoU) without any intention of commercial effect.....
Tags : NCLAT New Delhi, Memorandum of Understanding, Commercial Effect
NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings(19.05.2025)
NCLAT New Delhi bench has held that an individual member is not precluded from independently initiating insolvency proceedings under Section 7 of the .....
Tags : NCLAT New Delhi, Section 7, Consortium Lenders, Corporate Debtor
NCLAT: NCLT Can Direct Forwarding a Copy of its Order to Relevant Statutory Authorities(20.05.2025)
NCLAT New Delhi bench has held that the National Company Law Tribunal (NCLT) while exercising its inherent jurisdiction under Rule 11 of the NCLT Rule.....
Tags : NCLAT New Delhi, Relevant Statutory Authorities, Rule 11
NCLAT: IRP Has Authority to Take Possession of Assets Owned by Corporate Debtor(20.05.2025)
NCLAT New Delhi bench has held that Interim Resolution Professional (IRP) has the authority to take possession of assets owned by the Corporate Debtor.....
Tags : NCLAT New Delhi, Corporate Debtor, Possession of Assets
NCLAT: Application u/s 9 of IBC to be Rejected if Plausibility of Pre-Existing Dispute Established(29.11.2024)
NCLAT New Delhi Bench has held that once plausibility of a pre-existing dispute is established, application under Section 9 of Insolvency and Bankrupt.....
Tags : NCLAT New Delhi, Pre-Existing Dispute, Adjudicating Authority
NCLAT: Amount Belonging to Corpo. Debtor Can be Recovered by Liquidator by Filing Application u/s 60(02.12.2024)
NCLAT New Delhi bench has held that amount belonging to the Corporate Debtor can be recovered by Liquidator by filing an application under Section 60(.....
Tags : NCLAT New Delhi, Corporate Debtor, Liquidator
NCLAT: Can Set Aside Fraudulent Initiation of CIRP while hearing appeal u/s 61 of IBC(02.12.2024)
NCLAT New Delhi bench has held that while hearing an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, NCLAT can set aside fraudule.....
Tags : NCLAT New Delhi, CIRP, Section 61
NCLAT: Authority Can’t Pass Adverse Remarks against RP Performing Duties as Per CoC’s Instruction(05.12.2024)
NCLAT New Delhi bench has held that the Adjudicating Authority cannot pass adverse remarks against the Resolution Professional who is performing dutie.....
Tags : NCLAT New Delhi, Adverse Remarks, Committee of Creditors
NCLAT: Can Seek Eviction of Tenant from Corporate Debtor's Property under Tenancy Law(14.01.2025)
NCLAT New Delhi bench has held that eviction of tenant from corporate debtor’s property can be sought under Tenancy law and Adjudicating Authority can.....
Tags : NCLAT New Delhi, Corporate Debtor, Adjudicating Authority
NCLAT: Recovery Proceedings before DRT doesn’t Prohibit Financial Creditors from Filing App. u/s 7(17.01.2025)
NCLAT New Delhi bench has held that if recovery proceedings have been initiated before the Debt Recovery Tribunal (DRT) it does not prohibit Financial.....
Tags : NCLAT New Delhi, Financial Creditors, Recovery Proceedings
NCLAT: Can File App. u/s 7 of IBC when Entire Liability Not Discharged after Selling Pledged Shares(17.01.2025)
NCLAT New Delhi bench has held that an application under section 7 of the Insolvency and Bankruptcy Code, 2016 can be filed when the entire liability .....
Tags : NCLAT New Delhi, Pledged Shares, Section 7
NCLAT: For Filing Appeal, Limitation Period Begins from Pronouncement Date if Substa. Order Passed(14.04.2025)
NCLAT New Delhi bench has held that if substantive order is passed on the date of pronouncement then limitation period for filing appeal shall begin f.....
Tags : NCLAT New Delhi, Substantive Order, Limitation Period
NCLAT: Bank in Whose Favor Mortgage Rights Were Created Over Property of CD Can’t Seek Exclusion(14.04.2025)
NCLAT New Delhi bench has held that a bank cannot seek exclusion of a property of the Corporate Debtor from the Resolution Plan where mortgage rights .....
Tags : NCLAT New Delhi, Resolution Plan, Mortgage Rights
NCLAT: Conversion of Partner's Dues Into Loan Can’t become Financial Debt(14.04.2025)
NCLAT New Delhi bench has held that conversion of dues of partner against the partnership firm do not qualify as financial debt under Section 5(8) of .....
Tags : NCLAT New Delhi, Financial Debt, Partner's Dues
NCLAT: Existence of Financial Debt Essential for Initiating Proceedings under Section 7 of IBC(11.03.2025)
NCLAT New Delhi bench while dismissing a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, has stated that for initiating pr.....
Tags : NCLAT New Delhi, Financial Debt, Section 7
NCLAT: OC Can Trigger CIRP Process Only When there is an Undisputed Debt(17.03.2025)
NCLAT New Delhi bench has held that Operational Creditor (OC) can trigger CIRP Process only when there is existence of an undisputed debt and default .....
Tags : NCLAT New Delhi, Operational Creditor, Undisputed Debt
NCLAT: Can Correct Inadvertent Typographical Errors in Orders Passed by NCLT under NCLT Rules(12.05.2025)
NCLAT New Delhi bench has held that correction of inadvertent typographical errors in the orders passed by the National Company Law Tribunal (NCLT) ca.....
Tags : NCLAT New Delhi, Typographical Errors, Rule 154
NCLAT: In Absence of Contractual Clause Interest for Delayed Payments Can’t Form Part of OD(12.05.2025)
NCLAT New Delhi bench has held that interest on the unilateral invoices for the delayed payment cannot form part of the operational debt in absence of.....
Tags : NCLAT New Delhi, Contractual Clause, Delayed Payments