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Pending Challenge to CoC Constitution Not a Bar on RP Appointment u/s 27: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT) Principal Bench at New Delhi, has held that a pending challenge to the constitution of the...

NCLAT sets aside Dismissal of S. 95 IBC Pleas Filed by Canara Bank against Personal Guarantors[Read...

Guarantors Misused Moratorium to Stall SARFAESI Recovery: NCLAT Upholds Dismissal of Repeat S. 94...

Section 7 IBC Threshold of 100 or 10% Allottees Applies at Filing Stage: NCLAT allows Homebuyers’...

90% Unsecured Creditor Consent Sufficient To Dispense with Meetings u/s 230(9): NCLAT [Read Order]

NCLT Has Exclusive Jurisdiction Over Debt and Fraud, No Need for Civil Court once IBC is Invoked: Delhi HC [Read Judgment]

In a recent ruling, the Delhi High Court held that once insolvency proceedings are initiated under the Insolvency and Bankruptcy Code, 2016, the National Company Law Tribunal has exclusive...

Parallel Proceedings under Income Tax not Permissible when NCLT approves Resolution Plan: ITAT [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi, held that once a Resolution Plan is approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy...

NCLT Holds CGST Superintendent Guilty of Contempt on Account of Non‑Compliance with Refund Directions During Moratorium [Read Order]

The National Company Law Tribunal (NCLT), Indore Bench, has held that a Central Goods andServices Tax (CGST) Superintendent was guilty of contempt as he did not comply with the refund directions...

Restricting NCLT’s Contempt Powers Would Reduce IBC to a "Paper Tiger": Bombay HC Holds Contempt Plea Not Maintainable [Read Order]

The BombayHigh Court held a conempt plea not maintainable before it and said that restricting NCLT’s contempt powers would reduce IBC to a "Paper Tiger". The petitioner, S.G. Mittal...

Limitation Act Applies to "Courts" and not to Quasi-Judicial Bodies, Unless Expressly Empowered: Supreme Court [Read Order]

The SupremeCourt has ruled that limiation act only applies to “courts” and not to quasi-judicial bodies unless they are expressly empowered in that regard. The issue arose from a long-pending...

Non-disclosure of Secured Creditors in Capital Reduction Petition: NCLT Imposes 5 lakh Penalty on Lifestyle [Read Order]

The National Company Law Tribunal (NCLT), Bangalore bench has slapped a penalty of Rs 5,00,000 on Lifestyle International Private Ltd for the non-disclosure of secured creditors in a capital ...

Workers Not Entitled to Wages for Period Not Worked During CIRP: NCLAT upholds Layoff Notice, Approved Resolution Plan Binding on All Stakeholders [Read Order]

The Principal Bench of National Company Law Appellate Tribunal (NCLAT) at New Delhi, held that workers are entitled to wages during CIRP only if the corporate debtor is a going concern and they...