Advance paid by Speculative Buyer in Real Estate not Financial Debt under IBC: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) observed that advance paid by speculative buyer in real estate not...
Non-Acceptance of Goods by Corporate Debtor does not equate to Operational Debt u/s 5(21) of IBC: NCLT [Read Order]
The National Company Law Tribunal ( NCLT ) has held that the non-acceptance of the goods by the Corporate Debtor cannot be equated with default in respect of an operational debt. Section 5 (21) of...
Moratorium u/s 14 of IBC imposed legal 'Embargo' not only on Financial Creditors but on any other person for Sale of Assets in CIRP: NCLT [Read Order]
The Hyderabad bench of the National Company Law Tribunal ( NCLT ) has held that a Moratorium under section 14 of the Insolvency Bankruptcy Code ( IBC ),2016 imposed a legal 'Embargo' not only on...
Revival of Corporate Debtor is Primary Goal of Resolution Plan and going concern Sale: NCLT [Read Order]
The Kolkata Bench of the National Company Law Tribunal ( NCLT ) held that the primary goal of the Resolution Plan as well as the sale of a Corporate Debtor as a going concern remains the same as that...
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]")