Under Section 61 of IBC, the power to condone delay vested with NCLAT is 15 days only, when the delay is beyond 15 days, NCLAT cannot exercise its jurisdiction to condone delay – IL & FS Financial Services Ltd. Vs. Empower India Ltd. – NCLAT New Delhi

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High Court can entertain Writ Petition if IBBI’s order effects the work of an Insolvency Professional in its territorial jurisdiction – Partha Sarathy Sarkar Vs. Insolvency & Bankruptcy Board of India (IBBI) – Bombay High Court

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Successful Bidder is granted certain reliefs, concessions, and waivers which would be essential and necessary for smooth transition and to run the business of the Corporate Debtor as a going concern – Dekon Enterprises Pvt. Ltd. Vs. Anil Anchalia, Liquidator – NCLT Kolkata Bench

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If the contract contains a specific clause which expressly bars payment of interest, then it is not open for the arbitrator to grant pendente lite interest and when there is an express statutory permission for the parties to contract out of receiving interest and they have done so without any vitiation of free consent, it is not open for the Arbitrator to grant pendent lite interest – Garg Builders Vs. Bharat Heavy Electricals Ltd. – Supreme Court

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