Judgment in Mr. M. Ravindranath Reddy as well as judgment in Promila Taneja’s case does not lay down the correct law on categorisation of License Fee under Operational Debt in IBC. The claim of Licensor for payment of license fee for use of Demised Premises for business purposes is an Operational Debt within the meaning of Section 5(21) of the IBC – Jaipur Trade Expocentre Pvt. Ltd. Vs. M/s Metro Jet Airways Training Pvt. Ltd. – NCLAT New Delhi

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The date on which NPA classification is declared is relevant or the date with effect from such classification is made to be effective is relevant for the purpose of 29A(c) – Avantha Holdings Ltd. Vs. Mr. Abhilash Lal, RP for Jhabua Power Ltd. – NCLAT New Delhi

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Although settlement has to be encouraged in the IBC but no direction can be issued to the Financial Creditor to positively grant the benefit of OTS to a borrower – Sanjeev Mahajan Vs. India Bank (Erstwhile Allahabad Bank) & Anr. – NCLAT New Delhi

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CG appoints Smt. Anita Shah Akella, Joint Secretary, MCA as ex-officio member in the IBBI to represent the said Ministry in said Board. – MCA Notification No. S.O. 3069(E) dated 05.07.2022

MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 5th July, 2022 S.O. 3068(E).—In exercise of the powers conferred by clause (b) of sub-section (1) of section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby rescinds…

Whether on the administrative side the Acting President can pass an order exercising its jurisdiction under Rule 16(d) of the NCLT Rules, 2016 – Sonia Khosla & Anr. Vs. Montreaux Resorts (P) Ltd. & Ors. – NCLAT New Delhi

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Indian Oil Corporation Ltd. Vs. Manjeet Cotton Pvt. Ltd. & Ors. – NCLAT New Delhi

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Punjab National Bank & Ors. Vs. Piyush Colonisers Ltd. Through RP Ashish Singh – NCLAT New Delhi

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Sukhinder Singh & Anr. Vs. Mr. Sumat Kumar Gupta, RP of International Mega Food Park Ltd. & Ors. – NCLAT New Delhi

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Dinesh Kumar & Ors. Vs. Birendra Kumar Tripathi Liquidator for Prism Infracon Ltd. & Ors. – NCLAT New Delhi

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Shri Tradco India Pvt. Ltd. & Anr. Vs. State Bank of India – NCLAT New Delhi

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