Expiry of Performance Bank Guarantee submitted by Successful Resolution Applicant not covered the Resolution Plan Implementation Schedule is non-compliance of the mandatory Regulation 36B(4A) of CIRP Regulations, 2016, NCLT rejects Resolution Plan in M/s Viceroy Hotels Ltd. – Dr. Govindarajula Venkata Narasimha Rao, RP of Viceroy Hotels Ltd. – NCLT Hyderabad Bench

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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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Documents which are required to be submitted for filing application u/s 7 of IBC to substantiate a loan must be in the nature of the Financial Contract and not in Oral Agreement- Prayag Polytech Private Limited Vs. Iworld Digital Solution Private Limited-NCLAT

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