29/01/2020

The Adjudicating Authority cannot go into the serious disputes which require adducing of evidence – Anjani Gases Vs. B.P. Projects Pvt. Ltd – NCLAT

NCLAT has held that it is very clear that the IBC is a summary procedure fully time bound as specified in the Act. The Adjudicating Authority cannot go into the serious disputes which require adducing of evidence. From the facts and records, it is emphatically clear that there is serious dispute between the parties which are prior to issuance of Demand Notice. Neither the Adjudicating Authority nor this Appellate Tribunal sitting in a summary jurisdiction can go into those issues which otherwise required regular trial. Accordingly, there is pre-existing dispute between the parties which cannot be adjudicated in a summary proceeding as held by the Hon’ble Supreme Court in the matter of Mobilex.

The Adjudicating Authority cannot go into the serious disputes which require adducing of evidence – Anjani Gases Vs. B.P. Projects Pvt. Ltd – NCLAT Read Post »

Preferential Shareholders has no locus standi to file application for redemption of shares under Section 55(3) of the Companies Act, 2013 or under Section 245 of the Companies Act, 2013 – Bank of Baroda Vs. Aban Offshore Ltd. – NCLAT New Delhi

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Preferential Shareholders has no locus standi to file application for redemption of shares under Section 55(3) of the Companies Act, 2013 or under Section 245 of the Companies Act, 2013 – Bank of Baroda Vs. Aban Offshore Ltd. – NCLAT New Delhi Read Post »

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