Share Allotment at Concessional Price is Oppressive Act against Existing Members: NCLT [Read Order]
The Mumbai bench of the National Company Law Tribunal Mumbai held that share allotment made at a concessional price is an oppressive act against...
SRA cannot seek Substitution with another Resolution Applicant when Resolution Plan is Approved by CoC and NCLT: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the Successful Resolution Applicant ( SRA ) cannot seek substitution with another resolution applicant when...
Profits during CIRP can be allocated to Financial Creditors when RFRP and Resolution Plan are Silent: NCLT [Read Order]
The Mumbai Bench of the National Company Law Tribunal ( NCLT ) observed that the profits during corporate insolvency resolution process ( CIRP ) can be allocated to financial creditors when request...
Settlement in Section 7 or Dropping of Sec. 66 Proceedings does not Automatically End Proceedings under Section 43: NCLT [Read Order]
The Mumbai bench of the National Company Law Tribunal ( NCLT ) has held that settlement in Section 7 or dropping of Sec. 66 of the Insolvency and Bankruptcy Code, 2016 proceedings do not...
![Settlement in Section 7 or Dropping of Sec. 66 Proceedings does not Automatically End Proceedings under Section 43: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/NCLT-NCLT-Mumbai-National-Company-Law-Tribunal-Insolvency-and-Bankruptcy-Code-IBC-TAXSCAN.jpg "Settlement in Section 7 or Dropping of Sec. 66 Proceedings does not Automatically End Proceedings under Section 43: NCLT [Read Order]")
Date of Default of Corporate Guarantor is Independent of Principal Borrower's Date of Default: NCLT [Read Order]
The Mumbai Bench of the National Company Law Tribunal ( NCLT ) ruled that the date of default of corporate guarantor is independent of the principal borrower's date of default. The Company...
![Date of Default of Corporate Guarantor is Independent of Principal Borrowers Date of Default: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/02/NCLT-NCLT-Mumbai-Corporate-Guarantor-Date-of-loan-agreements-Borrower-Principal-Borrower-TAXSCAN.jpg "Date of Default of Corporate Guarantor is Independent of Principal Borrowers Date of Default: NCLT [Read Order]")
CIRP cannot be initiated by Financial Creditor against Successful Resolution applicant on Default of Payment on Resolution Plan: NCLT
The Mumbai Bench of the National Company Law Tribunal (NCLT) ruled that the Corporate Insolvency Resolution Process (CIRP) cannot be initiated by Financial Creditor against Successful Resolution...
