03/01/2019

In case the AA do not pass any order in accordance with law on an early date, it will be open to the Appellant to bring this fact before Appellate Tribunal – Committee of Creditors of Essar Steel (India) Ltd. Through State Bank of India Vs. Satish Kumar Gupta & Ors. – NCLAT

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In case the AA do not pass any order in accordance with law on an early date, it will be open to the Appellant to bring this fact before Appellate Tribunal – Committee of Creditors of Essar Steel (India) Ltd. Through State Bank of India Vs. Satish Kumar Gupta & Ors. – NCLAT Read Post »

There may be many issues pleaded before the Tribunal but the Tribunal is not required to suo-moto go through all the issues if during the hearing the parties do not address rest of the issues- B. Govinda Ramesh Vs. Vinyasa Engineering Pvt. Ltd. & Ors.- NCLAT

There may be many issues pleaded before the Tribunal but the Tribunal is not required to suo-moto go through all the issues if during the hearing the parties do not address rest of the issues.

As learned counsel for the Appellant/Petitioner submits that all those issues were raised before the Tribunal, we are of the view that the Appellant/Petitioner may bring the same to the notice of the Tribunal by filing a petition for review alongwith certificate of the arguing counsel that he has argued on other issues. In such case, the Tribunal may decide the same in accordance with law. The appeal stands disposed of with aforesaid observation.

There may be many issues pleaded before the Tribunal but the Tribunal is not required to suo-moto go through all the issues if during the hearing the parties do not address rest of the issues- B. Govinda Ramesh Vs. Vinyasa Engineering Pvt. Ltd. & Ors.- NCLAT Read Post »

Adjudicating Authority has no jurisdiction to convert CIRP under Sections 7, 9 or 10 of the IBC as Fast Track CIRP proceeding under Section 55 of Code – Sanjay Kumar Ruia Vs. Catholic Syrian Bank Ltd. & Anr. – NCLAT New Delhi

The questions arise for consideration in this appeal are:

i. Whether in a CIRP triggered under Sections 7 or 9 or 10 of the Code, the Adjudicating Authority has power to convert the CIRP as a Fast Track CIRP under Section 55 of the Code?

ii. Whether ‘Committee of Creditors(CoC)’ had jurisdiction to replace the Resolution Professional after completion of 270 days? and;

iii. Whether Adjudicating Authority is empowered to decide the Resolution Cost, including the Resolution Fee payable to the Resolution Professional?

Adjudicating Authority has no jurisdiction to convert CIRP under Sections 7, 9 or 10 of the IBC as Fast Track CIRP proceeding under Section 55 of Code – Sanjay Kumar Ruia Vs. Catholic Syrian Bank Ltd. & Anr. – NCLAT New Delhi Read Post »

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