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NCLAT Holds Adjudicating Authority Lacks Jurisdiction Over Customs Liability Disputes Under IBC Framework
The NCLAT held that the Adjudicating Authority lacks jurisdiction to adjudicate customs liability disputes under the framework of the...
3 days ago2 min read
NCLAT Rules Interest-Free Maintenance Security (IFMS) Not a Financial Debt: Rejects Section 7 IBC Plea
The NCLAT ruled that Interest-Free Maintenance Security (IFMS) is not a financial debt and rejected the Section 7 plea under the IBC. The...
4 days ago3 min read
Supreme Court Upholds NCLAT’s Rejection of Delayed Appeal in Company Restoration Case: Condonation Beyond Statutory Limit Not Permissible
The Supreme Court upheld the NCLAT’s rejection of a delayed appeal in a company restoration case, ruling that condonation of delay beyond...
4 days ago3 min read
IBC Application Under Section 9 Not Maintainable for Unagreed Interest Claims Based Solely on Invoice Clause
NCLAT held that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not maintainable when the claim pertains...
5 days ago3 min read
NCLAT Upholds Resolution Plan Approved Within CIRP Timeline; Dissenting Unsecured Creditors Bound by CoC’s Commercial Wisdom
The NCLAT upheld the resolution plan approved within the CIRP timeline, ruling that dissenting unsecured creditors are bound by the...
5 days ago3 min read
Supreme Court Sets Aside CIRP Admission on Settlement; Affirms Corporate Debtor’s Obligation to Pay CIRP Costs
The Supreme Court set aside the admission of the Corporate Insolvency Resolution Process (CIRP) in light of a settlement between the...
5 days ago3 min read
NCLAT Upholds CIRP Extension: Dissenting Creditor Cannot Undermine CoC’s Commercial Wisdom and Revival Efforts
The NCLAT upheld the CIRP extension, holding that a dissenting creditor cannot override the commercial wisdom of the Committee of...
6 days ago3 min read
Essential Supply Protection under Section 14(2) IBC: Electricity Disconnection Prohibited During CIRP Moratorium Despite Non-Payment
NCLAT held that under Section 14(2) of the IBC, electricity as an essential supply cannot be disconnected during the CIRP moratorium...
7 days ago3 min read
Limitations on Condonation: NCLAT Clarifies Inapplicability of Holiday Exclusion to Discretionary Period under Section 61(2) IBC
The NCLAT clarified that the exclusion of holidays under the Limitation Act does not apply to the discretionary 15-day condonation period...
Jun 54 min read
Calcutta High Court Upholds Employee’s Right to Full Gratuity Despite CIRP Approval; Declares Gratuity Outside Liquidation Estate Under IBC
The Calcutta High Court upheld the employee’s right to receive full gratuity despite the approval of the Resolution Plan under CIRP,...
Jun 53 min read
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