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NCLT Dismisses WLFC’s Insolvency Petition Against SpiceJet
The National Company Law Tribunal (NCLT) dismissed an application filed by Willis Lease Finance Corporation (WLFC) under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) for initiating Corporate Insolvency Resolution Process (CIRP) agains…
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Insolvency and Bankruptcy Guide
Insolvency and Bankruptcy Guide
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S. Ashokkumar, Sr. counsel for M.Deivanandam for the Petitioner. L. Muralikrish…
S. Ashokkumar, Sr. counsel for M.Deivanandam for the Petitioner. L. Muralikrishnan, Spl.Public Prosecutor (Income Tax) for the Respondent.
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Ashutosh S Dave, Jyotindrasinh J Vala, M.S. Namrata A Doshi for the Petitioner.…
Ashutosh S Dave, Jyotindrasinh J Vala, M.S. Namrata A Doshi for the Petitioner. M R Bhatt & Co. for the Respondent.
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Debashis Chowdhury, Adv. in ITAT/231/2017; Sucharita Biswas, Adv., Asok Bhowmic…
Debashis Chowdhury, Adv. in ITAT/231/2017; Sucharita Biswas, Adv., Asok Bhowmick, Adv. in ITAT/362/2017 for the Petitioner. J.P. Khaitan, Sr. Adv., Pratyush Jhunjhunwala, Adv., Swapna Das, Adv. for the Respondent.
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Tilak Mitra, Adv. for the Petitioner. J.P. Khaitan, Sr. Adv., Pratyush Jhunjhun…
Tilak Mitra, Adv. for the Petitioner. J.P. Khaitan, Sr. Adv., Pratyush Jhunjhunwala, Adv., Swapna Das, Adv., Siddhartha Das, Adv. for the Respondent.
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Debasish Chowdhury, Adv., Madhu Jana, Adv. for the Petitioner.J. P. Khaitan, Sr…
Debasish Chowdhury, Adv., Madhu Jana, Adv. for the Petitioner.J. P. Khaitan, Sr. Adv., Nilanjana Banerjee [Paul], Adv. for the Respondent.
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Debasish Chowdhury, Adv. Sucharita Biswas, Adv. P. K. Bhowmik, Asok Bhowmik, Ad…
Debasish Chowdhury, Adv. Sucharita Biswas, Adv. P. K. Bhowmik, Asok Bhowmik, Advs.for the Petitioner. J.P. Khaitan, Swapna Das, Siddhartha Das for the Respondent.
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Where the driving force is not the desire to earn profits but, the object of pr…
Held In a writ petition being India Trade Promotion Organization vs. Director General of Income Tax (Exemptions) & Others in WP(C) 1872/2013, the predecessor Division Bench issued a Mandamus to the appellant herein to grant approval to the respon…
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For relevant consideration as to who is the proper person with whom the amount …
Held Scope of Section 451 is with regard to the interim custody of the article or asset produced before the Magistrate during the course of investigation in a crime. It is a well settled position of law that while deciding the question of releasi…
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In the matter of Amit Wadhwani Vs. M/s Global Advertisers & Anr. Company Appeal…
The Respondent also sought to rely upon certain tabulated statements in the Petition an impression is sought to be created as if the same were part of the invoices/ written confirmation. That was not the case. The said statements were not provided w…
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In the matter of Shri Tradco India Pvt. Ltd. & Anr. Vs. State Bank of India Com…
The second observation of the Adjudicating Authority in the second line of paragraph 3 amply protect the interests of the Corporate Debtor. The Bench has clearly mentioned that if specific document is sought by the Corporate Debtor from the Financi…
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In the matter of Hari Vitthal Mission Vs. Ravi Sethia, Resolution Professional …
Insolvency & Bankruptcy,Dec. 10, 2022The Application having already been fixed for hearing, we seen no reason to entertain this Appeal. We only request the Adjudicating Authority to hear and decide the application as early as possible. With these observations this Appeal is disposed of.
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In the matter of Ashok Tiwari Vs. DBS Bank India Ltd. (DBIL) & Anr. Company App…
Insolvency & Bankruptcy,Dec. 10, 2022Looking to the facts of the present case, we observe that for a period of two weeks, further steps in the ‘Corporate Insolvency Resolution Process’ be not taken and further steps in the ‘CIRP’ shall be taken in accordance with the Order of the NCLT in the aforesaid application.
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In the matter of Amit Rajput Vs. M/s Reckon Industries Limited & Anr. Company A…
Insolvency & Bankruptcy,Dec. 10, 2022The above Agreement which is agreement relied by both the parties unequivocally contains the acknowledgement of Corporate Debtor towards liability to refund the amount of Rs.3.5 crore to the Financial Creditor and the Agreement mentions the mechanism to return the amount. The Agreement Clause 3.3 also mentions giving an IDBI cheque of Rs.3.5 crore to the Financial Creditor which raise clear presumption of owing debt by the Corporate Debtor to the…
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In the matter of Avantha Holdings Limited & Anr. Vs. Mr. Abhilash Lal & Ors. Co…
Insolvency & Bankruptcy,Dec. 10, 2022The Resolution Professional in CoC meeting dated 24.01.2020 apprised the CoC about two quotations received from the Resolution Applicants. The Resolution Professional presented both the Resolution Plans before the CoC. The CoC decided to seek revised plan and/ or clarification from the Resolution Applicants. The Resolution Professional also informed the CoC that he has received objection regarding eligibility of the NTPC.
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In the matter of Union of India Vs. Infrastructure Leasing and Financial Servic…
Insolvency & Bankruptcy,Dec. 10, 2022Following the approval of the ITPCL Restructuring Plan, direct that the said Restructuring Plan be binding on all stakeholders of Respondent No.2 (including Group, Operational and CAPEX Creditors) and that any claim, entitlement or contingent liability (disclosed or undisclosed) of any nature (statutory, contractual or otherwise), and whether existing at or relating to a period prior to the Cut-off date which is specifically not provided/contempla…
In the matter of Sanjeev Mahajan Vs. India Bank (Erstwhile Allahabad Bank) & An…
The object of the IBC is to revive the Corporate Debtor and the Bank on the same amount is ready to assign the debt to ARCs. What is the reason for not accepting the same amount from the Appellant has not been explained by the Bank. The Appellant is still willing to settle and pay the dues but due to obstinate attitude of the Bank, Corporate Debtor is not able to settle the matter and revive its business.
Insolvency & Bankruptcy,Dec. 10, 2022-
In the matter of The Regional Provident Fund Commissioner Vs. Mr.Arunava Sikdar…
Insolvency & Bankruptcy,Dec. 10, 2022Suffice it, for this ‘Tribunal’ to point out that the Petitioner / Appellant has not subjectively satisfied the conscience of this ‘Tribunal’ to condone the delay in issue. Looking at from any angle, the ‘Condone Delay Application’ in IA/404/2022 in the Instant Company Appeal (AT)(CH)(Ins) No.179/2022 is ‘devoid of merits’ and it fails.
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In the matter of V. Venkata Sivakumar Vs. R. Prabhu Company Appeal (AT)(CH)(INS…
Insolvency & Bankruptcy,Dec. 10, 2022The ‘Adjudicating Authority’ (National Company Law Tribunal, Division Bench – II, Chennai) the 12th Respondent was restrained from proceeding with lifting any kind of ‘machinery’ or ‘scrap’ till the disposal of the present ‘Application’ and the said order is a ‘fair’, ‘just’ ‘valid’ and a ‘balanced’ one, based on the ‘fact circumstances’ of the ‘Case’.
In the matter of Himanshu Singh Vs. Small Industries Development Bank of India …
Insolvency & Bankruptcy,Dec. 10, 2022It is represented on behalf of both sides that Form FA 3 was filed by the Interim Resolution Professional before the Adjudicating Authority through an Interlocutory Application and hence, till the disposal of the said Interlocutory Application by the Adjudicating Authority the implementation of the impugned order shall remain stayed.
In the matter of M.D. Enterprises Vs. S.P.Y. AGRO Industries Ltd Comp App (AT)(…
Viewed in that perspective, this ‘Appellate Tribunal’ without delving deep into the merits of the matter, nor expressing any opinion in one way or the other, at this stage, simpliciter, directing the ‘Adjudicating Authority’ (National Company Law Tribunal, Hyderabad Bench, Court No.II) to take up the Company Petition (IB) No.304/9/HDB/2020.
Insolvency & Bankruptcy,Dec. 10, 2022-
Insolvency & Bankruptcy , Dec. 10. 2022In the matter of Sushil Kumar Aggarwal Vs. Prayag Polytech Pvt. Ltd. & Anr. Com…
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Insolvency & Bankruptcy , Dec. 10. 2022In the matter of Jayashree Mohan Vs. Pathukasahasram Raghunathan Raman Comp App…
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Insolvency & Bankruptcy , Dec. 10. 2022
In the matter of Utsav Carriers Pvt. Ltd. & Ors. Vs. Vicky Garg & Anr. I.A. No.…
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Insolvency & Bankruptcy , Dec. 10. 2022
In the matter of Sree Vinayaka Buildwell Projects Private Limited Vs. NHDPL Sou…
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Insolvency & Bankruptcy , Dec. 10. 2022
In the matter of S. Amarendran RP of Sabari Realtors P Ltd Company Appeal (AT)(…
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