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Contingent Rights Under Property-Linked Agreements Do Not Create Enforceable Claims in CIRP: NCLAT
The NCLAT, New Delhi clarified that insolvency proceedings cannot be invoked to enforce contingent or inchoate rights arising from unregistered redevelopment agreements, defective guarantees, or assignments lacking crystallised obligations.
Feb 112 min read
West Bengal Housing Infrastructure Development Corporation Limited v. Kshitiz Chhawchharia, Liquidator, REEDLAW 2025 NCLAT Del 10564
The NCLAT held that leasehold rights vested in a Corporate Debtor constitute intangible assets forming part of the liquidation estate under the IBC and may be validly controlled and sold by the Liquidator despite ownership of land vesting with the lessor.
Feb 91 min read
Leasehold Rights Transferred by Amalgamation Constitute Liquidation Estate Assets under IBC
The NCLAT held that leasehold rights vested in a Corporate Debtor constitute intangible assets forming part of the liquidation estate under the IBC and may be validly controlled and sold by the Liquidator despite ownership of land vesting with the lessor.
Feb 93 min read
Vinita Agarwala and Others v. Power Pack Steel Industries Private Limited, REEDLAW 2026 NCLAT Del 02502
The NCLAT held that violation of deposit provisions under the Companies Act does not render an interest-bearing loan unenforceable or bar insolvency proceedings under Section 7 of the IBC.
Feb 81 min read
Violation of Companies Act Deposit Provisions Cannot Defeat Section 7 IBC Proceedings Where Financial Debt Is Established
The NCLAT held that violation of deposit provisions under the Companies Act does not render an interest-bearing loan unenforceable or bar insolvency proceedings under Section 7 of the IBC.
Feb 83 min read
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