Section 35 of the IBC, 2016 is analogous to Sections 167, 168, 169 and 170 of the UK Insolvency Act, 1986
NCLAT Chennai Section 35 of the IBC, 2016 is analogous to Sections 167, 168, 169 and 170 of the UK Insolvency Act, 1986 Coram: Mr. Justice Venugopal M. (Judicial Member), Mr. Justice Sharad Kumar Sharma (Judicial Member) and Mr. Jatindranath Swain (Technical Member) Case Citation: (2024) ibclaw.in 293 NCLAT Hon’ble NCLAT held that: (i) A […]
Whether Adjudicating Authority under IBC, has jurisdiction to direct Lessee to vacate and deliver possession of Corporate Debtor’s property to Liquidator? – Mr. Krishna Mohan Gollamudi Vs. Bhagyanagar Hotels Pvt. Ltd. – 20.12.2023
Read here complete summary: https://ibclaw.in/mr-krishna-mohan-gollamudi-vs-bhagyanagar-hotels-pvt-ltd-nclt-hyderabad/
The topical expediency or arbitrariness does not replace the commercial wisdom – PFC Projects Ltd. and Ors. v. V. Venkatachalam, RP of KSK Water Infrastructures Pvt. Ltd. and Ors. – 24.12.2023
Read here complete summary: https://ibclaw.in/pfc-projects-ltd-and-ors-v-v-venkatachalam-rp-of-ksk-water-infrastructures-pvt-ltd-and-ors-nclt-hyderabad-bench/?utm_source=mailpoet&utm_medium=email&utm_campaign=the-last-newsletter-total-posts-from-our-blog_2/
RBI Master Circular on Wilful Defaulters does not contain any requirement that the order passed by First Level Committee should disclose the constitution of the First Level Committee | Decision of First Level Committee does not attain finality till it is confirmed by Review Committee – Telangana High Court
Quorum: Chief Justice Alok Aradhe and Shri Justice Anil Kumar Jukanti Case Citation: (2024) ibclaw.in 130 HC The batch of 3 Writ Appeals were preferred by the suspended Board of Directors of M/s. Ind Bharath Power (Madras) Limited challenging the order passed by the Ld. Single Judge Bench upholding the decision/order of the First Level […]
NCLT allows Promoters of MSME to submit Resolution Plan at belated stage – NCLT Hyderabad Bench
Justice Telaprolu Rajani and Shri Charan Singh Case Citation: (2023) ibclaw.in 379 NCLT For brief about the decision/expert summary of the case, full judgment and original judgment PDF, visit HERE.
Whether inter se ranking of the charges among Secured Financial Creditors existing before initiation of CIRP will be recognized while distributing the sale proceeds in liquidation under Section 53(1) of IBC, 2016 – NCLT Hyderabad Bench
Judicial Member: Shri Justice Venkata Ramakrishna Badarinath Nandula Technical Member: Shri Charan Singh Case Citation: (2023) ibclaw.in 329 NCLT For brief about the decision/expert summary of the case, full judgment and original judgment PDF, visit HERE.
Corporate Debtor failed to refund or allot the shares against the money deposited towards purchase of shares, the said amount stand converted into debt – NCLT Hyderabad Bench
Shri Venkata Ramakrishna Badarinath Nandula and Shri Charan Singh Case Citation: (2023) ibclaw.in 266 NCLT The Adjudicating Authority held that a sum of Rs. one crore has been deposited by the Financial Creditor with the Corporate Debtor even though towards purchase of shares as the shares were not allotted, it was agreed by the Corporate […]
Guarantor Cannot Enjoy ‘Right Of Subrogation’ Even After CIRP Against Principal Debtor Gets Concluded: NCLT Hyderabad
The National Company Law Tribunal (“NCLT”), Hyderabad Bench, comprising of Dr. N. Venkata Ramakrishna Badarinath (Judicial Member) Shri Veera Brahma Rao Arekapudi (Technical Member), while adjudicating a petition filed in State Bank of India v Shri. Ghanshyam Surajbali Kurmi, has held that a guarantor cannot enjoy a right of subrogation even after the Corporate… Read […]
NCLT | Can a Financial Creditor initiate Insolvency Resolution Process against a Personal Guarantor?
National Company Law Tribunal, Hyderabad: The Bench of N. Venkata Ramakrishna Badarinath, Judicial Member, and Veera Brahma Rao Arekapud, Technical Member held that a guarantor cannot enjoy the right of subrogation enunciated in the Contract Act, 1872, when the payment made by the guarantor regards the debt for which the guarantee was provided. The company […]
Ind Barath Power Infra Ltd. Vs. India Infrastructure Finance Co. Ltd. – NCLT Hyderabad Bench
Read the full article HERE.
