The newly re-constituted NCLT Bench cannot sit in judgement as an Appellate Authority in respect of a subject matter, in which an order was reserved by the erstwhile Bench – Mr. Abhijit Guhathakurta Monitoring Agency of the Corporate Debtor Vs. Royale Partners Investment Fund Ltd. – NCLAT

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If the admitted application was rejected by the Appellant Tribunal, CIRP cost will be borne by the members of CoC – M/s. Kotak Resources Vs. Dharmendra Dhelaria & Ors. – NCLAT

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NCLAT set aside AA order and held that the filing of Application in pursuance thereof under Section 12A of IBC seeking withdrawal of the Petition before the AA is arbitrary and against conscience of legal jurisprudence – Mr. Sandip Patel Vs. Central Bank of India – NCLAT

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A writing to be an acknowledgement of liability must involve an admission of subsisting Jural relationship between the parties and a conscious affirmation of an intention of continuing such relationship in regard to an existing liability – Mr. R.R. Gopaljee Vs. Indian Overseas Bank – NCLAT

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No past and unclaimed liabilities on Successful Resolution Applicant after approved Resolution Plan – State of Haryana through Excise & Taxation Officer-cum-Assessing Authority Mewat Vs. Uttam Strips Ltd. – NCLAT

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It is not necessary to file an application only by RP or Liquidator to decide whether a transaction fall under section 50 or not. The Adjudicating Authority u/s 60(5) has jurisdiction to entertain or dispose of any Application or proceeding by or against the Corporate Debtor or Corporate persons – Smt. Anamika Singh Vs. Shinhan Bank – NCLAT

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Since the Respondent does not have a requisite 60% value in Secured Interest, therefore, the Respondent does not have right to realize its security interest as per provision Section 13(9) of the SARFAESI Act, because it would be detrimental to the Liquidation process and the interest of the remaining ten Secured Creditors – Mr Srikanth Dwarakanath Liquidator of Surana Power Limited Vs. Bharat Heavy Electricals Limited – NCLAT

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WhatsApp Bulletin-23