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Reliance on Free Certified Copy Cannot Arrest Limitation Period: Appeal Dismissed for Delay Beyond Statutory Limit under IBC
The NCLAT ruled that reliance on a free certified copy cannot arrest the limitation period, resulting in the dismissal of the appeal for...
Oct 18, 20242 min read
Appeal Filed by Corporate Debtor Through Director Declared Non-Maintainable Following Initiation of CIRP Under Section 7 of IBC
NCLAT declared the appeal filed by the Corporate Debtor through its director as non-maintainable following the initiation of CIRP under...
Oct 18, 20242 min read
Lease Cancelled Prior to CIRP Cannot Form Part of Resolution Plan, and 'Holding-Over' Tenancy Requires Lessor's Assent: NCLAT
NCLAT ruled that a lease cancelled prior to the commencement of CIRP could not form part of the resolution plan, and 'holding-over'...
Oct 17, 20243 min read
Priority of Provident Fund Claims in Insolvency Resolution Process: Affirming Statutory Obligations Under the IBC
NCLAT upheld the priority of provident fund claims in corporate insolvency, thereby securing employee rights. The National Company Law...
Oct 17, 20243 min read
Pre-existing Disputes on Rent, Possession, and Forged Invoices Bar Initiation of CIRP under Section 9 of the Insolvency and Bankruptcy Code
NCLAT held that pre-existing disputes regarding rent, possession, and alleged forged invoices bar the initiation of the Corporate...
Oct 16, 20243 min read
NCLAT Upholds NCLT's Dismissal of CIRP Application Due to Lack of Evidence of Financial Debt and Default
The NCLAT upheld the NCLT's dismissal of the Corporate Insolvency Resolution Process (CIRP) application due to the lack of evidence...
Oct 16, 20243 min read
IBC is a Resolution Mechanism, Not a Recovery Tool; Claim for Interest Based on Unsigned Invoices Without Consent Rejected
NCLAT rejected the claim for interest based on unsigned invoices without the respondent's consent, affirming that the IBC serves as a...
Oct 16, 20243 min read
NCLAT Affirms Rejection of Section 9 Application for CIRP Due to Lack of Privity of Contract and Time-Barred Claims
The NCLAT affirmed the rejection of the Section 9 application for the Corporate Insolvency Resolution Process (CIRP) due to the lack of...
Oct 16, 20243 min read
Challenges to CoC Constitution and Claim Admission Must Be Raised Before NCLT Under Section 60(5) of IBC: NCLAT
The NCLAT held that challenges regarding the constitution of the Committee of Creditors and the admission of claims must be raised before...
Oct 16, 20243 min read
Counterclaims Cannot be Set Off Against Financial Debt in Section 7 Petitions; NCLAT Reverses NCLT's Order
Counterclaims cannot be set off against financial debt in Section 7 petitions under the IBC, and the NCLAT has reversed the NCLT’s order....
Oct 16, 20243 min read
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