Adjudicating Authority by adopting a process of taking two bids cannot conclude the sale of a Corporate Debtor without giving an opportunity to Liquidator to take steps for private sale – State Bank of India Vs. Bhuvee Stenovate Pvt. Ltd. & Ors. – NCLAT New Delhi

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NCLT directs Successful Resolution Applicant to make necessary payments under the provisions of EPF and MP Act, 1952 after the approval of Resolution Plan – Employees Provident Fund Organisation Vs. Sh. Darshan Singh Anand The IRP – NCLT Chandigarh Bench

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Benefit under Section 10A of IBC can be claimed by a Corporate Debtor only when there is clear default during the prohibited period – Vishal Agarwal Erstwhile Director of Gagan I-Land Township Pvt. Ltd. Vs. ICICI Prudential Real Estate AIF-I & Anr. – NCLAT New Delhi

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Legal Representatives (LRs) including widow of deceased Promoter/Director of Corporate Debtor should be impleaded as a party in application under Section 43, 45, 50 & 66 of the IBC for avoidance of transactions – Arvind Garg Liquidator of Carnation Auto India Pvt. Ltd. Vs. Jagdish Khattar & Ors. – NCLAT New Delhi

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When there are specific remedies available to RP/Corporate Debtor to recover the dues of the CD, RP cannot short-circuit and bring a claim before this Adjudicating Authority taking advantage of Section 19(2) of the IBC, 2016 – Mr. Bhim Sain Goyal RP Vs. Myntra Designs Pvt. Ltd. – NCLT New Delhi Bench Court-II

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There is no provision in IBC for revaluation, much less if a plan has already been received and its value is known to the CoC, as the CoC has to take a commercial call on the matter considering various Pros and Cons in terms of the recovery of their claims in an absolute sense and not on relative term – Kannan Tiruvengadam RP for EMC Ltd. – NCLT Kolkata Bench

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