Insolvency and Bankruptcy Code

Blog, Insolvency and Bankruptcy Code, News

May 8, 2023

Penal Interest Aaid as Liquidated Damages for Breach of Contract can’t be Termed as a Financial Debt: NCLAT

Case Details: Budhpur Buildcon (P.) … Continue reading “Penal Interest Aaid as Liquidated Damages for Breach of Contract can’t be Termed as a Financial Debt: NCLAT”

Blog, Insolvency and Bankruptcy Code, News

May 3, 2023

NCLAT Revives CIRP against CD as its Directors Failed to Pay Instalments as per the Settlement Agreement

Case Details: Sojitz India (P.) … Continue reading “NCLAT Revives CIRP against CD as its Directors Failed to Pay Instalments as per the Settlement Agreement”

Blog, Insolvency and Bankruptcy Code, News

May 2, 2023

Shortfall Undertaking Executed by Corporate Debtor Proves Existence of Debt

Case Details: IL & FS … Continue reading “Shortfall Undertaking Executed by Corporate Debtor Proves Existence of Debt”

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May 1, 2023

SC refers the matter with dues over Rs. 1 lakh to NCLAT for accurate determination of respondent’s claim

Case Details: Compack Enterprises India … Continue reading “SC refers the matter with dues over Rs. 1 lakh to NCLAT for accurate determination of respondent’s claim”

Blog, Insolvency and Bankruptcy Code, News

April 29, 2023

NCLT Justified in Allowing Replacement of Existing RP for Smooth Liquidation of CD: NCLAT

Case Details: Dr. K.V. Srinivas, … Continue reading “NCLT Justified in Allowing Replacement of Existing RP for Smooth Liquidation of CD: NCLAT”

Blog, Insolvency and Bankruptcy Code, News

April 29, 2023

CoC-approved Plan Violating Sec 30(2) by Admitting only 35.13% of PF and Gratuity Claims of Workmen

Case Details: Mrs. C.G. Vijyalakshmi … Continue reading “CoC-approved Plan Violating Sec 30(2) by Admitting only 35.13% of PF and Gratuity Claims of Workmen”

Blog, Insolvency and Bankruptcy Code, News

April 26, 2023

NCLT’s Order Rejecting to Replace RP Approved by CoC Set Aside: NCLAT

Case Details: Venus India Asset-Finance … Continue reading “NCLT’s Order Rejecting to Replace RP Approved by CoC Set Aside: NCLAT”

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April 25, 2023

No Illegality in NCLT’s Order Approving RP where Appellant’s Claim was Based on Pending Arbitration: NCLAT

Case Details: Shapporji Pallonji and … Continue reading “No Illegality in NCLT’s Order Approving RP where Appellant’s Claim was Based on Pending Arbitration: NCLAT”

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April 21, 2023

NCLT Orders Admittance of FC’s Claim as Debt u/s 5(8) for Corporate Guarantee

Case Details: AVJ Heights Apartment … Continue reading “NCLT Orders Admittance of FC’s Claim as Debt u/s 5(8) for Corporate Guarantee”

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April 20, 2023

NCLT can Replace the Liquidator if he isn’t Holding a Valid Authorisation for Assignment

Case Details: CA V. Venkata … Continue reading “NCLT can Replace the Liquidator if he isn’t Holding a Valid Authorisation for Assignment”