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Fraudulent Journal Entry Cannot Override Hypothecation and Asset Ownership in CIRP—Machinery Forms Part of Corporate Debtor’s Assets
NCLAT held that a fraudulent journal entry cannot override hypothecation and asset ownership in CIRP, ruling that the machinery in...
Feb 143 min read
Limitation Period Governs the Maintainability of a Section 95 IBC Petition
NCLAT held that the limitation period governed the maintainability of a Section 95 IBC petition. The National Company Law Appellate...
Feb 133 min read
Mere Procedural Lapses in the Service of Demand Notice Do Not Extinguish Personal Guarantor's Liability
NCLAT held that mere procedural lapses in the service of the Demand Notice do not extinguish the liability of the Personal Guarantor. The...
Feb 133 min read
Section 7 Application Must Be Decided Before a Delayed Section 54C Filing, but NCLAT Upholds PPIRP Resolution as a Fait Accompli
NCLAT held that a Section 7 application must be decided before a delayed Section 54C filing but upheld the PPIRP resolution as a fait...
Feb 115 min read
Security Deposit with Profit-Sharing Arrangement Constitutes Financial Debt under the Insolvency and Bankruptcy Code
NCLT held that the security deposit with a profit-sharing arrangement constituted financial debt, thereby justifying the initiation of...
Feb 93 min read
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