Companies Act
-
NCLT in exceptional circumstances doesn’t allow MSME to regain control of the Corporate Debtor
NCLT dismisses appeal against order of Adjudicating Authority approving Resolution Plan of Corporate Debtor; says that it is open to…
Read More » -
NCLAT orders appellant to constitute CSR Committee finding its net profit exceeding the prescribed threshold
NCLAT holds appellant liable to constitute CSR committee of the Board in terms of Section 135(1) as the net profit…
Read More » -
Family settlement has to be treated differently as compared to any other commercial settlement however interest & welfare of company is paramount, holds NCLT
NCLT passes an order formalising division arrived at the family settlements; says the welfare and interest of the company is…
Read More » -
NCLT holds that IBC does not permit related parties being Financial Creditors to participate in CoC, hence transactions between related parties & outsiders cannot be equated
NCLT approves Resolution Plan; says any transactions between the related parties cannot be equated to transactions with outsiders on an…
Read More » -
NCLT clarifies that Insolvency & Bankruptcy Code is not a substitute to a recovery forum, dismisses petition for CIRP
NCLT dismisses petition for CIRP finding that the debt and default are in dispute as well as suffer a bar…
Read More » -
HC states that RDBA, SARFAESI Act, Insolvency Code and PMLA must co-exist and construed and enforced in harmony, without one being in derogation of the other in the matter of Deputy Director Directorate of Enforcement Delhi vs. Axis Bank
Delhi HC observes that assets which are subject matter of the appeals are not “tainted property” as they were acquired…
Read More » -
NCLT orders reinstatement of the name of respondent company in the ROC, sets aside ROC order for non-compliance
NCLT sets aside the order of the ROC, West Bengal to strike off the name of Respondent Company due to…
Read More » -
NCLT allows SBI to opt out of Liquidation process but prohibits sale of assets to disqualified persons.
NCLT grants permission to Secured Creditors to opt out of the Liquidation process but imposes a bar on the secured…
Read More » -
NCLT is not the appropriate forum for disputes relating to breach of contract
Adjudicating Authority of the NCLT holds that it is not the appropriate forum for deciding matters pertaining to a breach…
Read More » -
NCLT dismisses case for lack of evidence in support of forfeiture of shares
NCLT dismisses case for lack of evidence in support of forfeiture of shares being invalid and illegal. Fine no evidence…
Read More »