09/12/2024

A Director of a contemnor-company guilty for contempt for disobeying various undertakings given to the bank – Lechamps (Sea) Pte Ltd. Vs. Ashish Gupta and Anr. – Delhi High Court

/ 18 minutes of reading

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A Director of a contemnor-company guilty for contempt for disobeying various undertakings given to the bank – Lechamps (Sea) Pte Ltd. Vs. Ashish Gupta and Anr. – Delhi High Court Read Post »

Whether NCLT is empowered to allow the parties to amend the pleadings before the final orders in CIRP proceedings are passed? | Whether the Date of Default can be changed after filing the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC)? – Puneet P. Bhatia Vs. ASREC (India) Ltd. and Anr. – NCLAT New Delhi

/ 39 minutes of reading

The Hon’ble NCLAT on the question, whether the NCLT can allow amendments to the date of default in applications filed under Section 7 of the Insolvency and Bankruptcy Code (IBC)?, held that as per the provisions of the Code, the NCLT is empowered to allow the parties to amend the pleadings before the final orders in CIRP proceedings are passed. This would however be subject to the procedure laid down in the code, as confirmed by Dena Bank v. C. Shivakumar Reddy and Anr. (2021) ibclaw.in 69 SC.

Whether NCLT is empowered to allow the parties to amend the pleadings before the final orders in CIRP proceedings are passed? | Whether the Date of Default can be changed after filing the petition under Section 7 of the Insolvency and Bankruptcy Code (IBC)? – Puneet P. Bhatia Vs. ASREC (India) Ltd. and Anr. – NCLAT New Delhi Read Post »

Unless there is allotment in favour of the allotee in a real estate insolvency, he cannot be treated to be a financial creditor in a class – Bhagwan Dass Arora Vs. Ashish Singh RP of Piyush Colonisers Ltd. – NCLAT New Delhi

/ 6 minutes of reading

Hon’ble NCLAT held that be as it may even if the amount was invested by the appellant for the future projects unless there is allotment in favour of the appellant he cannot be treated to be a financial creditor in a class. His amount has already been admitted by the RP as a financial creditor.

Unless there is allotment in favour of the allotee in a real estate insolvency, he cannot be treated to be a financial creditor in a class – Bhagwan Dass Arora Vs. Ashish Singh RP of Piyush Colonisers Ltd. – NCLAT New Delhi Read Post »

On account of non-payment of liquidation costs, security interest of the Secured Creditor stood relinquished in terms of Liquidation Regulation 21A (2) &(3)? – Suraksha Asset Reconstruction Ltd. Vs. Varsha Bagri, Liquidator of Bharat NRE Coke Ltd. – NCLAT New Delhi

/ 22 minutes of reading

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On account of non-payment of liquidation costs, security interest of the Secured Creditor stood relinquished in terms of Liquidation Regulation 21A (2) &(3)? – Suraksha Asset Reconstruction Ltd. Vs. Varsha Bagri, Liquidator of Bharat NRE Coke Ltd. – NCLAT New Delhi Read Post »

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