Tribunal & Appellate
-
NCLT can initiate CIRP if High Court has not appointed official Liquidator & passed winding up order
In Nuvoco Vistas Corporation Ltd. vs Maxout Infrastructures Pvt. Ltd. , NCLT held that it does not have any bar…
Read More » -
NCLAT mandates to comply with Company Act procedures while executing arbitral award
NCLAT, Delhi mandates necessary compliances under the Companies Act, 2013 while giving effect to the arbitral award. NCLAT further clarifies…
Read More » -
NCLT holds that non-completion of work cannot be considered as “a pre-existing dispute”
NCLT, Ahmedabad held that non-completion of work cannot be considered as pre-existing dispute. In addition, in order to prove that…
Read More » -
Whether advance payment towards the construction of the project by the individual can be treated as deposit under Companies Act, 2013?
Crux of the matter: Depositor lent Rs. 18 lakhs to the Company towards its real estate business for booking a…
Read More » -
“Tours on luxury train” fulfils the requirement of “services” u/s 5 (21) of IBC, states Operational Creditor to be illustrative definition
NCLT New Delhi, held that tours by luxurious train fulfil the requirement of word “services” u/s Section 5(21) of the…
Read More » -
NCLT treats Arbitral Proceeding or pendency of suit as “existence of dispute” & Arbitral award or Tribunal order as “record of Operational Debt”
NCLT Hyderabad clarified that “pendency of suit” or “Arbitral Proceeding” would be considered as an “existence of dispute” and the…
Read More » -
NCLT levied penalty for not obtaining prior approval for related party transactions
NCLT Ahmedabad has levied penalty of Rs. 50,000/- on Maheshwari Logistics Pvt Ltd (Petitioner) under Section 629A of Company Act…
Read More » -
Valuer’s Valuation report can be rejected by NCLT if it is patently illegal or fraud but not due to parties’ dissatisfaction
Dr. Syed Sabahat Azim (Petitioner) filed a petition u/s 399 of the Companies Act, 1956 wherein principal grievance was about…
Read More » -
Subscription money advanced for the purchase of share doesn’t fall within “financial debt”, NCLT rejects complaint against Affinity Beauty Salon
NCLT, New Delhi Principal Bench rejects the complaint against Affinity Beauty Salon Pvt. Ltd. (Corporate debtor) which was filed by…
Read More » -
NCLT held that majorities decision is questionable if cannons of law are violated
NCLT Hyderabad Bench had dismissed V. Suresh Babu (Petitioner) petition as he had approached the Tribunal with unclean hand. Moreover,…
Read More »