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NCLAT Holds Interest-Free Loan as Financial Debt; Overrules Section 186 of the Companies Act Defence to Uphold CIRP Initiation
The NCLAT held that an interest-free loan qualifies as a financial debt and overruled the defence based on Section 186 of the Companies...
Jul 173 min read
IBC Is Not a Recovery Forum: CIRP Application Rejected Where Amount Claimed Was Paid in Full, Additional Interest Dismissed
The National Company Law Tribunal (NCLT) held that the Insolvency and Bankruptcy Code (IBC) is not a recovery forum, and rejected the...
Jul 163 min read
Successful Auction Purchaser Not Liable for Unfiled Pre-Liquidation Claims: NCLAT Rules in Purchaser’s Favour
The National Company Law Appellate Tribunal (NCLAT) held that a successful auction purchaser is not liable for claims that existed prior...
Jul 153 min read
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