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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...

Workers Not Entitled to Wages for Period Not Worked During CIRP: NCLAT upholds Layoff Notice,...

NCLAT Rejects Appeal to Revive Belated Claim Post-Resolution Plan Approval Due to Contradictory...

Kerala HC Rules NCLT’s Rejection of Resolution Plan Appealable Under Section 61 of IBC [Read Order]

Pre-IBC GST Dues Stand Extinguished After Final NCLT Approval of Resolution Plan: Delhi HC in...

NCLT Sanctions Over Rs. 12.80 Crore Payout in Sterling Healthcare Resolution Plan [Read Order]

The National Company Law Tribunal (NCLT), Mumbai Bench, has approved a resolution plan for Sterling Healthcare Limited, sanctioning a total payout of over Rs. 12.80 crore to its creditors. The plan,...

NCLT Upholds CoC Decision, dismisses Applications Challenging Unijules Resolution Plan [Read Order]

The National Company Law Tribunal (NCLT), Mumbai Bench, has upheld the decision of the Committee of Creditors (CoC) and dismissed applications filed by an unsuccessful resolution applicant and a...

Tribunal Ignores MCA's Clarification and Breached Fair Process: NCLAT Sets Aside NCLT Order Declaring Promoters Ineligible u/s 29A [Read Order]

In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has set aside the order of the National Company Law Tribunal (NCLT), New Delhi Bench. The...

ITR Refund Adjustment to Old Tax Dues of Company in Resolution Process: Supreme Court to Hear SLP against Orissa HC Ruling [Read Order]

The Supreme Court is to hear a special leave petition filed by the petitioner against the Orissa High Court ruling that upheld the adjustment of a ₹6.00 crore income tax refund against old tax...

NCLAT Quashes NCLT Order Invalidating Resolution Plan, Rules Amrapali Fincap’s Objections u/s 29A Unfounded [Read Order]

The National Company Law Appellate Tribunal (NCLAT) quashed the order of the National Company Law Tribunal (NCLT), New Delhi Bench, observing that the NCLT had erred in holding the successful ...

Resolution Plan Below CoC’s Commercial Expectations: NCLT Approves Liquidation After Failed CIRP [Read Order]

The Hyderabad bench of the National Company Law Tribunal (NCLT), ordered the liquidation of SAPF Estates Private Limited after the Corporate Insolvency Resolution Process (CIRP) failed to secure a...

Excise Dues Extinguished Under Approved Resolution Plan: CESTAT Rejects Revenue’s Recovery Appeal Against Bhatia Coke Energy Limited [Read Order]

The Chennai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that excise dues not included in an approved insolvency resolution plan stand extinguished and no recovery...