CIRP Can be Initiated against Corporate Debtor even on Principal-Agent Relationship between CD and Client: NCLT
The Mumbai Bench of the National Company Law Tribunal ( NCLT ) held that the Corporate Insolvency Resolution Process ( CIRP ) can be initiated...
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...
Belated Submission of Claims to Liquidator due to Medical Difficulty of Officer in Charge: NCLT Condones 92 Days Delay [Read Order]
The Mumbai Bench of the National Company Law Tribunal (NCLT)condoned 92 days delay as the liquidators delayed to submit claims due to medical difficulty of officer in charge. The Department of...
Advance given by Real-Estate developer to Property Owner is Operational Debt under IBC: NCLT [Read Order]
The National Company Law Tribunal (NCLT), Mumbai on last Saturday ruled that the advance amount received by a property owner from the real-estate developer for a re-development project qualifies as...
![Advance given by Real-Estate developer to Property Owner is Operational Debt under IBC: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/01/real-estate-developer-property-owner-operational-debt-IBC-NCLT-Mumbai-NCLT-Taxscan.jpeg "Advance given by Real-Estate developer to Property Owner is Operational Debt under IBC: NCLT [Read Order]")