Timelines under Regulation 35A for Avoidance Applications are Directory, Not Mandatory: Delhi High Court Rules in TATA Steel BSL Case [Read Order]
The Delhi High Court recently ruled in a case that the timelines given under Regulation 35A of the ( Insolvency Resolution Process for Corporate...
Adjudicating Authority Must Exercise Revisional Jurisdiction to Assess Correctness of COC's Actions: Madras HC [Read Order]
In a recent case, the Madras High Court held that though the Adjudicating Authority may not substitute the commercial wisdom of the Committee of Creditors ( CoC ), however, it must exercise...
Corporate Entity Starts in Clean State on Rejuvenation on Approval of Resolution Plan by NCLT: Calcutta HC [Read Order]
The Calcutta High Court held that after the insolvency proceeding is over and the resolution plan is duly approved by the National Company Law Tribunal ( NCLT ), the corporate entity starts with a...
Adjudicating Authority not Empowered to Substitute its own Assumption with CoC's Commercial Wisdom: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the adjudicating authority not empowered to substitute its own assumption with the Committee of Creditors (...
Adjudicating Authority empowered to Extend Payment Timelines under Resolution Plan without Express Concurrence of CoC: NCLAT [Read Order]
The National Company Law Appellate Tribunal ( NCLAT ), New Delhi Bench observed that the adjudicating authority empowered to extend payment timelines under the resolution plan without express...
RP Failed to Examine issue of Reconstitution of CoC: NCLAT directs NCLT to decide after Considering Reply [Raed Order]
In a recent case, the National Company Law Appellate Tribunal ( NCLAT ) directed the National Company Law Tribunal ( NCLT ) to decide after considering the reply since the Resolution Professional (...
Amount on Fabrication and Erection work claimed by Sub Contractor Failed to meet CIRP Cost Definition: NCLAT Sets aside NCLT Order
The Principal Bench of the National Company Law Appellate Tribunal ( NCLAT ) set aside the National Company Law Tribunal ( NCLT ) as the amount of fabrication and erection work claimed by...
Belated Claims by Creditors not to be Considered as IBC Proceedings are Time Bound: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) held that the belated claims by creditors not to be considered as the nature proceedings under the Insolvency and Bankruptcy...
