Mr. Justice Yogesh Khanna

Section 231 of the Companies Act, 2013 does not permit the Tribunal to make substantial modifications to a Scheme which has been approved by its Members – CMS Info Systems Ltd. Vs. Bharatiya Kamgar Karamchari Mahasangh and Ors. – NCLAT New Delhi

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Section 231 of the Companies Act, 2013 does not permit the Tribunal to make substantial modifications to a Scheme which has been approved by its Members – CMS Info Systems Ltd. Vs. Bharatiya Kamgar Karamchari Mahasangh and Ors. – NCLAT New Delhi Read Post »

The outstanding being of more than 2 years prior to CIRP commencement date will not fall under the purview of Section 43 of the IBC – Sidharth Bharatbhushan Jain and Ors. Vs. State Bank of India and Ors. – NCLAT New Delhi

Hon’ble NCLAT referring Anuj Jain, IRP for Jaypee Infratech Ltd. v. Axis Bank Ltd and Ors. (2020) ibclaw.in 06 SC held that the outstanding being of more than 2 years prior to CIRP commencement date, the relief under Section 43 of the Code would not be available. The respondent, however, shall be at liberty to take alternative action(s) as may be allowed under the Law (inclusive of Section 66 of the Code).

The outstanding being of more than 2 years prior to CIRP commencement date will not fall under the purview of Section 43 of the IBC – Sidharth Bharatbhushan Jain and Ors. Vs. State Bank of India and Ors. – NCLAT New Delhi Read Post »

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