26/02/2019

Whether the RP has jurisdiction to reject the claim of Operational Creditors in its entirety, without going into the evidence – Mr. Navneet Kumar Gupta(RP of Monnet Power Company Ltd) Vs. Bharat Heavy Electricals Ltd. -NCLAT

The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench held that the Resolution Professional wrongly disallowed the substantial claim in its entirety and directed the ‘Resolution Professional’ to re-examine the claim on the basis of the accounts and evidence of Operational Creditors and if the evidences corroborated the claim, the same should also be taken into account while finalising the total claim of Operational Creditors.

Whether the RP has jurisdiction to reject the claim of Operational Creditors in its entirety, without going into the evidence – Mr. Navneet Kumar Gupta(RP of Monnet Power Company Ltd) Vs. Bharat Heavy Electricals Ltd. -NCLAT Read Post »

Rent payment issue in the matter of Sarla Tantia Vs. Ramaanil Hotels & Resorts Pvt. Ltd. – NCLAT

The Adjudicating Authority was not supposed to conduct a roving enquiry though it could have been within its rights to go for a limited exercise of sifting the material available before it for separating the grain from the chaff and to reject the spurious defense.

Rent payment issue in the matter of Sarla Tantia Vs. Ramaanil Hotels & Resorts Pvt. Ltd. – NCLAT Read Post »

If the members of the Corporate Debtor or the Creditors approach the company through the liquidator for compromise or arrangement by making proposal of payment to all the creditor(s), the Liquidator on behalf of the company will move an application under Section 230 of the Companies Act, 2013 before the NCLT, in terms of the observations as made in S.C. Sekaran – Ms. Lima Rose Vs. M/s. Air Carnival Pvt. Ltd. & Ors. – NCLAT New Delhi

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If the members of the Corporate Debtor or the Creditors approach the company through the liquidator for compromise or arrangement by making proposal of payment to all the creditor(s), the Liquidator on behalf of the company will move an application under Section 230 of the Companies Act, 2013 before the NCLT, in terms of the observations as made in S.C. Sekaran – Ms. Lima Rose Vs. M/s. Air Carnival Pvt. Ltd. & Ors. – NCLAT New Delhi Read Post »

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