Proceedings u/s 61 of IBC cannot be Instituted by Official Liquidator to Challenge Directions by IBBI: NCLAT [Read Order]
The Chennai bench of the National Company Law Appellate Tribunal dismissed an appeal filed by the Liquidator of the Corporate Debtor M/s RLS Alloys...
Failure to Implement Resolution Plan even after 5 years: Supreme Court Orders Liquidation of Jet Airways [Read Judgement]
In a significant ruling, the Supreme Court invoked its extraordinary powers under Article 142 of the Constitution to order the liquidation of Jet Airways in the circumstance that the resolution plan...
Petition u/s 7 of IBC has to be admitted when Debt And Default are Satisfied: NCLAT allows appeal of Canara Bank [Read Order]
In a ruling in favour of Canara Bank, the New Delhi bench of National Company Law Appellate Tribunal ( NCLAT ) held that a petition under section 7 of the Insolvency Bankruptcy Code ( IBC ), 2016 has...
NCLAT upholds Resolution Plan approved for Adico Forge Pvt Ltd which Fully Secured Workers Claim [Read Order]
The National Company Law Appellate Tribunal ( NCLAT ) upheld the Resolution Plan approved for Adico Forge Pvt Ltd which fully secured workers claim. The Corporate Insolvency Resolution Process ( CIRP...
CoC can Liquidate Corporate Debtor In Absence of Approved Resolution Plan Before Adjudicating Authority Within Statutory CIRP Period: NCLAT [Read Order]
The National Company Law Appellate Tribunal ( NCLAT ) held that as per section 33 of the Insolvency and Bankruptcy Code, 2016 ( IBC ) empowers the Committee of Creditors ( CoC ) to decide to...
Time-Period u/s 61 of IBC cannot be Extended on Ground of Limitation Act: NCLAT Rules against Hero Exports [Read Order]
In a ruling against Hero Exports , the Chennai bench of National Company Law Appellate Tribunal ( NCLAT ) held that the time period under section 61 of Insolvency Bankruptcy Code ( IBC ), 2016 cannot...
Supreme Court upholds NCLAT Order Approving Reduced Claim for Noida SEZ in Corporate Resolution Plan [Read Judgement]
The Supreme Court has rejected a petition by the Noida Special Economic Zone (NSEZ) contesting the National Company Law Appellate Tribunal’s (NCLAT) approval of a resolution plan that awarded Rs. 50...
