NCLAT held that Section 12 of the Limitation Act, 1963 cannot be invoked as Section 238 of IBC has an overriding effect. The application for condonation of delay was dismissed.
High Court in this case has granted Interim relief for Pending the hearing and final disposal of the present Writ Petition, stay the operation and effect of the Order passed on February 28, 2022 passed by the IBBI for suspending the registration of Mr. Vishwanath Shridhara Prabhu as a registered valuer till he is acquitted of the charges.
Case Synopsis by Adv. Jaydeep Mehta Judgement of NCLAT Ex-Promoter’s settlement proposal cannot be entertained after resolution plan approval by CoC Case Citation: (2023) ibclaw.in 23 NCLAT Synopsys of the case is as follows; 1. NCLAT dismisses an appeal filed…
HCs have “seriously erred in directing to adjust/appropriate the amount realised by auction sale of the secured properties/deposited by the auction purchasers while considering the 50% of the amount as pre-deposit to be deposited by the borrower, while preferring an appeal before the DRAT.
NCLAT quashes an order of NCLT, Kolkata. Synopsis of the judgement is as follows: