Airport Authority of India being a statutory body created under Airport Authority of India Act, 1944, does not come under the definition of ‘Corporate Person’ u/s 3(7) of IBC | A single application against two different Corporate Debtors is not maintainable | Issues pertaining to non-payment for services rendered cannot be addressed through the initiation of insolvency proceedings under IBC – Akash Electrotek Engineers Pvt. Ltd. v. NCC Ltd. – NCLT Hyderabad Bench

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Whether the amount under an Arbitration Award which has been passed post initiation of liquidation proceedings can be treated as an “asset held in trust” for the applicant based on the agreement – Span Engineers – NCLT Hyderabad Bench

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The absence of any pre-established ‘convention’ for charging interest in cases of delayed payments became irrelevant when payments against the invoices were not received at all, and an acknowledged default of the principal amount happened – Kunal Concehm Pvt. Ltd. Vs. CA Sai Ramesh Kanuparthi – NCLT Hyderabad Bench

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