A Resolution Plan passed by a CoC, which is comprised of related parties of the Corporate Debtor, is void ab initio as it violates Section 21(2) read with Section 30(2)(e) of IBC, 2016 – M/s. Punjabi Accessoriezz Pvt. Ltd. Vs. M/s. Kredo Beauty Pvt. Ltd. – NCLT New Delhi Bench Court-II

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Failure to hold auction on the first attempt whether the secured creditor is required to give 30 days Notice to conduct auction on second and subsequent attempts also? – M/s Vinayak Steels Ltd. Vs. M/s Om Vishnu Pipes Pvt. Ltd. – Telangana High Court

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Under Section 53(1)(b)(ii) of IBC, the debts owed to a secured creditor, which would include the State under the Gujarat Value Added Tax, 2003, are to rank equally with other specified debts including debts on account of workman’s dues for a period of 24 months preceding the liquidation commencement date – State Tax Officer (1) Vs. Rainbow Papers Ltd. – Supreme Court

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The Corporate Debtor who is a Co-Operative Society registered/incorporated under the Maharashtra State Co-Operative Societies Act, 1960, does not come under the purview of the Code and therefore the CIRP cannot be initiated against the Corporate Debtor – The Solapur Dist. Central Co-Operative Bank Ltd. Vs. Sangola Taluka Sahakari Sakhar Karkhana Ltd. – NCLT Mumbai Bench

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