Merely because another view is possible, the Court will not interdict the Arbitration Award, the Courts should only interfere if such Award “portrays perversity unpardonable” under Section 34 of the Arbitration Act – Pragya Electronics Pvt. Ltd. & Ors. Vs. Cosmo Ferrites Ltd. – Delhi High Court

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An Adjudicating Authority is subjectively satisfied as to the existence of Default and in the event of the Section 7 application being complete in all respects, then no other criteria can be looked into by the Adjudicating Authority for admitting an application under the Insolvency Code – Nishit B Patel Shareholder of Peacock Construction Pvt. Ltd. Vs. Good Value Financial Services Pvt. Ltd. – NCLAT New Delhi

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In computing the period of limitation for any suit, appeal, application or proceeding, the period from 15.03.2020 till 02.10.2021 shall stand excluded – In Re: Cognizance for Extension of Limitation – Supreme Court

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Financial Creditor desires to file an Application Initiating Insolvency Resolution Process against the Guarantors, the Financial Creditor needs to file proper application under Section 95 of IBC 2016 – Bank of Baroda (Erstwhile Dena Bank) Vs. Mr Tshering Pintso Bhutia, Guarantor – NCLT Guwahati Bench

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Adjudicating Authority, not being a Civil Court and it being enjoined upon it to conduct the CIRP in a time bound manner as delineated by the IBC, should not allow the pre-admission proceedings to be converted into an adversarial litigation – Mirambica Infrastructure Pvt. Ltd. Vs. Sanskrut Jewel Residency LLP & Ors. – NCLAT New Delhi

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