LATEST NEWS ON INSOLVENCY LAW
LATEST CASE LAWS
The Supreme Court observed that the High Court has left the question of unjust enrichment open and no final adjudication/determination had taken place on unjust enrichment, and at this stage, present Special Leave Petition cannot be entertained....
Tata Steel Limited v. The State of Uttar Pradesh and Others
December 5, 2022
REED 2022 SC 12514
High Court in exercise of powers under Article 227 of the Constitution of India and in a writ petition filed by the Debts Recovery Tribunal Bar Association, has restrained the Judicial Member of the Tribunal from passing any adverse orders in any of the cases (OAs or SAs) pending before him of which he is the Presiding Officer.
Learned Senior Advocate, appearing on behalf of the original writ petitioner-Bar Association has fairly conceded that, let the concerned Judicial Member of the Tribunal proceed further with the hearing of the cases and decide the same on merits and the me...
M.M. Dhonchak v. Debts Recovery Tribunal Bar Association and Others
December 2, 2022
REED 2022 SC 12202
In the present case, the petitioner has filed the suit prior to the appointment of the Liquidator but after the appointment of the Liquidator, the petitioner has filed his claim of Rs.14,47,32,521/- against the respondent before the Liquidator in the form prescribed under the I&B Code, 2016.
The High Court noted that the NCLTs and the NCLATs are constituted under Sections 408 and 410 of the Companies Act, 2013 but without specifically defining the power and functions of the NCLT. Section 408 of the Companies Act states that the Central Government shall constitute a National Comp...
Alliance Broadband Services Private Limited v. Manthan Broadband Services Private Limited (In Liqn.)
December 19, 2022
REED 2022 Cal 12573
The Appellate Authority observed that the opportunity for the Resolution Professional and the CoC has to be a time-bound opportunity to make one more effort to revive the Corporate Debtor, as the liquidation being Company Appeal as the last resort....
Govind Prasad Todi and Another v. Satya Narayan Guddeti and Others