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Moratorium Under IBC Continues Despite Interim Stay; NCLAT Orders Reversal of Lenders' Appropriations During CIRP Stay Period
The NCLAT held that the moratorium under the IBC remains in effect despite an interim stay, ordering lenders to reverse appropriations...
Nov 3, 20243 min read
NCLAT Sets Aside NCLT’s Rejection, Holds that Established Debt and Default Compel Admission of IBC Petition under Section 7
The NCLAT set aside the NCLT’s rejection and held that once debt and default are established, the admission of an IBC petition under...
Nov 3, 20242 min read
NCLT Approves Resolution Plan for Shamik Enterprises, Extinguishing Prior Liabilities and Transferring Control to Vivaa Tradecom
The NCLT approved the resolution plan for Shamik Enterprises, extinguishing prior liabilities and transferring control to Vivaa Tradecom....
Oct 30, 20243 min read
Withdrawal of Appeal and Release of Fixed Deposit: NCLAT Dismisses Challenge to Section 7 Admission in Insolvency Proceedings
The NCLAT dismissed the challenge to the admission of the Section 7 application in insolvency proceedings, allowing the withdrawal of the...
Oct 30, 20242 min read
NCLAT Sets Aside CIRP Admission Order Following Settlement Between Parties in Tattva & Mittal Lifespaces Pvt. Ltd. Case
The NCLAT set aside the Corporate Insolvency Resolution Process (CIRP) admission order following a settlement between the parties in the...
Oct 30, 20242 min read
Revival of Limitation Period: NCLAT Restores CIRP Application Following Payment by Corporate Debtor
The NCLAT restored the application for the Corporate Insolvency Resolution Process (CIRP) after determining that the payment made by the...
Oct 30, 20242 min read
Approval of Resolution Plan Proposing Nil Payment to Operational Creditors Held Valid Under Section 30(2)(b) of the IBC
NCLAT upheld the approval of the Resolution Plan proposing nil payment to operational creditors as valid under Section 30(2)(b) of the...
Oct 30, 20242 min read
Post-Liquidation Interest and Damages Claims Inadmissible: NCLAT Upholds Liquidator's Rejection of Subsequent Assessments
NCLAT upheld the liquidator’s rejection of claims for interest and damages assessed after the liquidation commencement date, ruling that...
Oct 30, 20243 min read
A Resolution Plan, Once Approved by the CoC and Offering More Than Liquidation Value, Cannot Be Rejected by the NCLT
A resolution plan, once approved unanimously by the CoC and offering more than liquidation value, cannot be rejected by the NCLT. The...
Oct 29, 20243 min read
NCLT Validates CoC's Decision and Clears Path for Corporate Revival under IBC Framework
The NCLT validated the CoC's decision and cleared the path for corporate revival under the IBC framework. The National Company Law...
Oct 29, 20243 min read
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