The ‘Principle of stare decisis’ is fully applicable on judgments delivered by the NCLT as well as NCLAT. Both NCLT and NCLAT are bound by doctrine of stare decisis – Rajeev R. Jain Suspended Director Vs. AASAN Corporate Solutions Pvt. Ltd. – NCLAT New Delhi

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Whether the Successful Bidder can withdraw from the Bid after payment of the EMD and seek for refund of the amount paid on the ground that the offer made by the Bidder was a ‘conditional offer’ – M/s. Visisth Services Ltd. Vs. Mr. S. V. Ramani, Liquidator of United Chloro-Paraffins Pvt. Ltd. – NCLAT New Delhi

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The IRP has to be appointed on the date of Insolvency Commencement Date – Anil Tayal IRP for M/s. Nice Projects Ltd. Vs. COC of M/s. Nice Projects Ltd. – NCLAT New Delhi

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Whether for taking benefit of judgment of the Hon’ble Supreme Court passed in Suo Motu WP-03/2020 extending period of limitation due to COVID19, an Applicant has to file an Application for condonation under Section 5 of the Limitation Act, 1963 and satisfy the Court/ Tribunal that sufficient cause has been made out for condonation of delay? or the judgment shall operate as automatic extension of the limitation? – M/s. Essjay Ericsson Pvt. Ltd. Vs. M/s. Frontline (NCR) Business Solutions Pvt. Ltd. – NCLAT New Delhi

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Subsequent to initiation of CIRP, any action taken by Land Owner to enforce their Security Interest over their Security Deposits or Maintenance Advance by making any deduction from the same, would be in violation of Moratorium under Section 14 of the Code – Nimitaya Infotech Pvt. Ltd. And Ors. Vs. Cox & Kings Ltd. (Through its Resolution Professional, Mr. Ashutosh Agarwala) – NCLAT New Delhi

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Whether the time limit of 330 days provided in Section 12 of IBC is mandatory? – West Bengal Financial Corporation Vs. Bijoy Murmuria RP of the Dimension Steel & Alloys Pvt. Ltd. – NCLAT New Delhi

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Adjudicating Authority is not competent to recall the order of initiation of CIRP – Mr. Vineet Khosla Shareholder and (ex) Director Margra Industries Ltd. Vs. M/S Edelweiss Asset Reconstruction Company Ltd. – NCLAT New Delhi

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The existence of debt has to be clearly stated in section 7 application for which a detailed format is provided in the IBC – Mr. Kalpesh Dineshbhai Patel Director of Kingston Paptech Pvt. Ltd. Vs. Krishna Paper Trading Co. – NCLAT New Delhi

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