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Resolution Plan does not discriminate based on Type of creditors to give preference to secured creditors both having first charge or having residual charges: NCLAT [Read Order]

Yogitha S. Yogesh

The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT) has held that the resolution plan does not discriminate based onType of...

Inadvertent Typographical Errors in NCLT Orders can be Corrected u/r 154 of NCLT Rules: NCLAT [Read...

Approval of Resolution Plan Cannot be rejected solely based on Withdrawal of Consent by One of Coc...

Supreme Court - JSW - Orders Liquidation - taxscan

Supreme Court Rejects Resolution Plan of JSW, Orders Liquidation

Mortgagee Bank cannot Seek Exclusion of Property from Resolution Plan Approved by Unit Holders...

Dissenting Financial Creditors are Entitled to Receive Payments on Pro-Rata Basis of Resolution Plan Value: NCLAT [Read Order]

The National Company Law Appellate Tribunal ( NCLAT ) Chennai bench ruled that, instead of receiving the liquidation value, dissident financial creditors should be paid on pro- Rata Basis of the...

Legal Action not initiatable over any claims that are not included in resolution plan: Bombay HC [Read Order]

The Bombay High Court dismissed an Interim Application filed by the Appellant seeking the release of the bank guarantees, holding that all claims which are not part of the Resolution Plan shall stand...

CESTAT Dismisses Customs Appeal on Approval of Resolution Plan by NCLT [Read Order]

The Chennai bench of the Customs, Excise And Service Tax Appellate Tribunal (CESTAT) disposed of the Customs appeal as it was abated on approval of resolution plan by National Company Law Tribunal...

Prior Approval of CCI Mandatory before CoC Examination on Resolution Plan Involving Combination: Supreme Court [Read Judgement]

The Supreme Court observed that a resolution plan under the Insolvency and Bankruptcy Code (IBC), 2016, containing a proposed combination should only be placed before the Committee of Creditors...

Prior Approval of CCI - Prior Approval - CCI - CCI Mandatory - CoC Examination - Resolution Plan - Resolution Plan Involving Combination - Supreme Court - taxscan

NCLAT upholds Rejection of Applications, Confirms Disputed Property as Part of Corporate Debtor’s Assets in CIRP [Read Order]

The Chennai Bench of National Company Law Appellate Tribunal ( NCLAT ) upheld the rejection of two applications filed by the appellant, confirming that a disputed property claimed by him would remain...

NCLAT - National Company Law Appellate Tribunal - Corporate Debtor - CIRP - TAXSCAN

All Liabilities of Corporate Debtor stand Extinguished after Approval of Resolution Plan: NCLT [Read Order]

The National Company Law Tribunal (NCLT) of Bengaluru bench has held that all claims including subject matter of ongoing arbitration proceedings will stand extinguished after the approval of the...

All liabilities of corporate debtor - All liabilities of corporate - NCLT - Resolution Plan - liabilities - corporate debtor - Vikas Telecom Private Limited - Synergy Property - Insolvency Bankruptcy Code - IBC - Taxscan

Approved Resolution Plan cannot be Withdrawn Unless the Breach of S. 30(2) of IBC: NCLAT [Read Order]

The National Company Law Appellate Tribunal ( NCLAT ) affirmed that the law is well settled that the Resolution Plan which is approved by the CoC cannot be allowed to be withdrawn and any clause...