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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
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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