Allotment of Shares at Concessional Price is Oppressive Act qua Existing Members to whom no such Allotment made: NCLT [Read Order]
The Mumbai Bench of the National Company Law Tribunal (NCLT) observed that the allotment of shares at the concessional price is oppressive act qua...
Official Liquidator must follow Ethical Principles and Fairness While Discharging Duties under IBC: Delhi HC [Read Order]
The Delhi High Court has held that official liquidators must follow ethical principles and fairness to discharge their duties under the Insolvency and Bankruptcy Code ( IBC ), 2016. Sundaresh Bhat...
"Connected Person” under Explanation-I of Section 29A(J) of IBC relates to Resolution Applicant, not Corporate Debtor: NCLT [Read Order]
The Hyderabad Bench of the National Company Law Tribunal ( NCLT ) held that the term "Connected Person” under Explanation-I of Section 29A(J) of the Insolvency and Bankruptcy Code, 2016 ( IBC )...
Scheme of Arrangement on Demerger of Hotel by ITC: NCLT directs by to Convene Meeting of Shareholders on June 6 [Read Order]
The National Company Law Tribunal ( NCLT ) has directed the ITC company to convene a meeting of shareholders on June 6, 2024 to consider and approve the proposed demerger of its hotel business. ...
NCLT not Empowered to Set Aside Arbitral Award passed during Moratorium Period u/s 14 of IBC: NCLT [Read Order]
The Kolkata Bench of the National Company Law Tribunal ( NCLT ) held that the NCLT is not empowered to set aside arbitral award passed during moratorium period under Section 14 of the Insolvency and...
Absence of claim not Forming Part of Resolution Plan: Gujarat HC quashes Demand Notice and Assessment Order [Read Order]
The Gujarat High Court quashed demand notice and assessment order in the absence of claim not forming part of resolution plan. It is the case the petitioner that as per clause 12.3 (viii) of the...
