17/10/2017

Right to apply under IB Code accrues only on or after 1st December, 2016 and not before the said date- Black Pearl Hotels Pvt. Ltd. (Operational Creditor) Vs. Planet M Retail Ltd.- NCLAT

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Right to apply under IB Code accrues only on or after 1st December, 2016 and not before the said date- Black Pearl Hotels Pvt. Ltd. (Operational Creditor) Vs. Planet M Retail Ltd.- NCLAT Read Post »

NCLT cannot be made to conduct the proceedings by way of a detailed trial to ascertain the amount of debt claimed is as claimed or not as is done by a Civil Court taking a detailed examination of documents supported by oral examination of witnesses when the plaintiff approaches it byway of a suit – UT Worldwide (India) Pvt Ltd. Vs. Integrated Caps Pvt. Ltd. – NCLT New Delhi Bench

NCLT dealt with the nature of proceedings under the Code. It observed that it is exercising only a summary jurisdiction and cannot be made to conduct the proceedings by way of a detailed trial to ascertain the amount of debt claimed is as claimed or not as is done by a Civil Court taking a detailed examination of documents supported by oral examination of witnesses when the plaintiff approaches it byway of a suit.

NCLT cannot be made to conduct the proceedings by way of a detailed trial to ascertain the amount of debt claimed is as claimed or not as is done by a Civil Court taking a detailed examination of documents supported by oral examination of witnesses when the plaintiff approaches it byway of a suit – UT Worldwide (India) Pvt Ltd. Vs. Integrated Caps Pvt. Ltd. – NCLT New Delhi Bench Read Post »

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