The Court work (Virtual hearing) and filing etc. in the NCLAT will remain suspended on 1st and 2nd December, 2020

F.No.10/23/2020-NCLATNATIONAL COMPANY LAW APPELLATE TRIBUNAL2nd & 3rd Floor of Mahanagar Doorsanchar Sadan (M.T.N.L. Building),9,CGO Complex, Lodhi Road, New Delhi — 110003 (Near Scope Complex)Tel No.: 011-24306829 Dated : 30th November, 2020 NOTICE Whereas two Hon'ble Members of the NCLAT, who…

Appellant (Operational Creditor) does not have any right to the goods or raw material lying in the premises of the Corporate Debtor even after the order of the CIRP and that the Resolution Professional is authorised under law to take possession of the moveable or immovable properties of the Corporate Debtor after commencement of the CIRP – MSTC Ltd. Vs. Supriyo Kumar Chaudhuri and Ors. – NCLAT New Delhi

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An approved Resolution Plan can deal with the related party claim and extinguish the same which shall ensure that the Successful Resolution Applicant can take over the Corporate Debtor on a clean slate – Facor Alloys Limited Vs. Mr Bhuvan Madan Resolution Professional of Ferro Alloys Corporation Limited  – NCLAT New Delhi

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The Corporate Guarantor is liable to be proceeded against by the lender or its assignee in the same manner as if it was the Principal Borrower/ Debtor – Mr. Piyush Periwal As Promoter and Shareholder of National Plywood Industries Ltd.) Vs. Stressed Assets Stabilization Fund (SASF) – NCLAT New Delhi

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