When debt and default is proved, Adjudicating Authority has to admit application unless it is Incomplete: NCLAT upholds Section 7 Application [Read Order]
The Delhi bench of the National Company Law Appellate Tribunal(NCLAT) held that when debt and default is proved ,adjudicating authority (NCLT)has to...
Amount given by Financial Creditor as Investment for Joint Venture to Corporate Debtor is not Financial Debt under IBC: NCLT
The Guwahati Bench of the National Company Law Tribunal ruled that the amount given by financial creditor as investment for joint venture to corporate debtor is not financial debt under the...
NCLT have Jurisdiction to send back Resolution Plan for Modification: NCLAT allows to Prepare Addendum to Incorporate Necessary Modification
The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT ) held that National Company Law Tribunal (NCLT) have Jurisdiction to send back Resolution Plan for Modification under...
Insolvency Proceedings on Personal Guarantor of Corporate Debtor can be initiated when no CIRP is pending before NCLT: NCLAT [Read Order]
The Chennai bench of the National Company Law Appellate Tribunal (NCLAT) has held that Insolvency Proceedings on the Personal Guarantor of a Corporate Debtor can be initiated when no Corporate...
![Insolvency Proceedings on Personal Guarantor of Corporate Debtor can be initiated when no CIRP is pending before NCLT: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Insolvency-Proceedings-Personal-Guarantor-of-Corporate-Debtor-CIRP-Corporate-Debtor-NCLT-NCLAT-taxscan.jpg "Insolvency Proceedings on Personal Guarantor of Corporate Debtor can be initiated when no CIRP is pending before NCLT: NCLAT [Read Order]")
NCLAT directs to pay the Amount Deposited to the Court as per Consent Term to Financial Creditor [Read Order]
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) directed to pay the amount deposited to the court as per consent terms to the financial creditor. Bhagwandas R. Bhattad,...
Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]
The National Company Law Appellate Tribunal,( NCLT ) Principal Bench at New Delhi has held that no interferences can be made in the proceedings of the Adjudicating Authority and that the...
![Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Reliance-Commercial-Finance-Ltd-IRP-Corporate-Debtor-NCLAT-taxscan.jpg "Reliance Commercial Finance Ltd may revive IRP application if debt is not repaid by Corporate Debtor in 45 Days: NCLAT [Read Order]")
Principal Borrower need not be 'Corporate Person' for Insolvency Process to be initiated against Corporate Guarantor: Supreme Court [Read Judgment]
The Supreme Court ruled that the Insolvency Process Maintainable Against Corporate Guarantors even if the principal borrower is not a 'Corporate Person'. The respondent bank, Union Bank of India...
![Principal Borrower need not be Corporate Person for Insolvency Process to be initiated against Corporate Guarantor: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/03/Principal-borrower-corporate-person-insolvency-process-Corporate-Guarantor-Supreme-Court-taxscan.jpeg "Principal Borrower need not be Corporate Person for Insolvency Process to be initiated against Corporate Guarantor: Supreme Court [Read Judgment]")
Creditor not to become 'Financial Creditor', if a Corporate Debtor offered Security by pledging Shares, without discharging borrower's liability: Supreme Court [Judgment]
The Supreme Court held that a creditor will not become a 'financial creditor' under the Insolvency and Bankruptcy Code, if a corporate debtor offered security by pledging shares, without discharging...
![Creditor not to become Financial Creditor, if a Corporate Debtor offered Security by pledging Shares, without discharging borrowers liability: Supreme Court [Judgment]](https://www.taxscan.in/wp-content/uploads/2021/02/Creditor-Financial-Creditor-Corporate-Debtor-Shares-borrowers-liability-Supreme-Court-Taxscan.jpg "Creditor not to become Financial Creditor, if a Corporate Debtor offered Security by pledging Shares, without discharging borrowers liability: Supreme Court [Judgment]")