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High Court Affirms Appellant’s Liability to Bear Official Liquidator’s Security Expenses in Company Winding-Up
Delhi High Court held that a company under winding up is liable to bear the Official Liquidator’s security expenses, as directors’ verified statements and undertakings are binding.
3 hours ago3 min read
Recall Amounting to Review Not Permissible After Dissolution: Applications Dismissed for Non-Prosecution Cannot Be Revived Under IBC
NCLAT Chennai held that applications dismissed for non-prosecution cannot be revived after dissolution, as recall would amount to an impermissible review under the IBC.
5 hours ago3 min read
Ownership Under SARFAESI Transfers Only on Sale Certificate: Section 96 IBC Interim Moratorium Bars Completion of Auction Sale
The Bombay High Court held that ownership under SARFAESI transfers only upon issuance of a sale certificate, and an interim moratorium under Section 96 IBC bars completion of an auction sale.
6 hours ago5 min read
Consequential IBC Appeal Held Not Maintainable After Withdrawal of Foundational Challenge and Plan Approval
The NCLAT, Chennai Bench, held that a consequential appeal under the IBC is not maintainable once the foundational challenge is withdrawn and the resolution plan stands approved with the appellant’s participation.
15 hours ago4 min read
NCLT Has Exclusive Jurisdiction to Decide Possession and Lease Validity of Corporate Debtor’s Assets Under Section 60(5) IBC
The Gujarat High Court held that the NCLT has exclusive jurisdiction under Section 60(5)(c) IBC to decide disputes relating to possession and validity of lease or licence arrangements forming part of a corporate debtor’s assets.
2 days ago4 min read
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