Author: IBC Laws EditorSV

Once a property is part of liquidation estate of Corporate Debtor under liquidation, the provisions of IBC are applicable regarding the assets which were in the ownership of the Corporate Debtor and Section 238 of the IBC prohibited the applicability of any other law which was inconsistent with the IBC – Adinath Jewellery Exports Vs. Mr. Brijendra Kumar Mishra, Liquidator of Shrenuj & Co. Ltd. – NCLAT New Delhi

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NCLAT set aside the order in which CIRP application u/s 9 was rejected on ground that interest cannot be included in the claim and the principal amount being less than 1 crore since no agreement for the interest amount- Bhotika Trade & Services Pvt. Ltd. Vs. Avinash EM Projects Pvt. Ltd. – NCLAT New Delhi

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NCLAT allows to hear the appeal against the approval of Resolution Plan of Suraksha Realty Ltd. in case of Jaypee Infratech Ltd. on additional farmers compensation claim issue – Yamuna Expressway Industrial Development Authority Vs. Monitoring Committee of Jaypee Infratech Ltd. – NCLAT New Delhi

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When the projects proponent defaults in completing a project, it is always open for the banks to approach the NCLT under the Insolvency and Bankruptcy Code, 2016 – Court on its own motion Vs. Govt of NCT of Delhi and Ors. – Delhi High Court

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Unless there is a specific bar under the contract, it is always open for Arbitrator/Arbitral Tribunal to award pendente lite interest – Indian Railway Construction Company Ltd. Vs. M/s National Buildings Construction Corporation Ltd. – Supreme Court

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MCA extends the date for submission of comments/suggestions through e- Consultation Platform and the email till 15th May, 2022 – Notice dated 10.05.2022

Posted by on in Companies Act News

Ministry of Corporate Affairs Notice inviting comments on the Report of the Company Law Committee (2022) Dated: 21st April, 2022 In continuation to the Notice dated 12th April, 2022 inviting comments/ suggestions on the Company Law Committee Report (2022) through…

Read More MCA extends the date for submission of comments/suggestions through e- Consultation Platform and the email till 15th May, 2022 – Notice dated 10.05.2022

Whether the Surat Municipal Corporation can claim any first charge or precedence over a property which is subject matter of e-auction under Liquidation Process, for the purpose of recovering the arrears towards the liability of property tax – M/s. Alpesh Gems Vs. Surat Municipal Corporation – Gujarat High Court

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It is the duty of suspended directors to sign the Financial Statements of the Corporate Debtor during ongoing CIRP – Mr. Mukund Choudhary Vs. Mr. Subhash Kumar Kundra (RP for CLC Industries Ltd.) – NCLAT New Delhi

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