E-auction of assets corporate debtors - who can participate - ...

Case Laws Insolvency and Bankruptcy

September 11, 2023

E-auction of assets corporate debtors - who can participate - Scope of the term related party / relative - The expressions ‘related party’ and ‘relative’ contained in the definition sections must be read noscitur a sociis with the categories of person mentioned in Explanation I. So read, it would include only persons who are connected with the business activity of the resolution applicant. - it is clearly manifest that the disqualification sought to be attached to the appellant is without any substance as the related party had ceased to be in the helm of affairs of the corporate debtor more than a decade ago. - SC

View Source

← Previous Next →

E-auction of assets corporate debtors - who can participate - ...

Case Laws Insolvency and Bankruptcy

September 11, 2023

You may also like:

CIRP - Liquidation of corporate debtor - Refusal to approve the private sale - The Tribunal acknowledged the procedural challenges presented by the liquidator’s...

Seeking to release the attachment of the tiles relating to the Corporate Debtor - Attachment of goods by the GST department before initiation of CIRP - The assets, which...

Validity of deed of assignment - Related Party - if the Assignor of a debt is a Related Party of the Corporate Debtor, as per the ratio laid down by the Hon'ble NCLAT,...

Inclusion of name of applicant in the CoC - related party or not - the Applicant is stepping into the shoes of the Assignor and thereby takes over the right of the...

CIRP - Relating parties - As on the date of it becoming a part of the CoC, Respondent No. 2 was purely a Financial Creditor of the Corporate Debtor and hence, it cannot...

CIRP - bonafide nature of the transactions or not - recovery from the ex-directors of the corporate debtor - forensic and transaction audit of the corporate debtor was...

Seeking withdrawal of the CIRP proceedings - in the Terms of Settlement dated 21.04.2022, in Clause 12, it was mentioned that because of the Settlement, the...

Approval of Resolution Plan - Right of the secured creditor over immovable asset of the Corporate Debtor - Unless the prohibition is imposed, all assets of the Corporate...

Preferential Transactions - The expression “financial affairs of the Corporate Debtor” cannot be given an extended meaning as contended by Learned Counsel for the...

IBC - Invoking Bank Guarantee - Corporate Debtor has issued bank guarantee for ensuring the price of goods. The bank guarantee is irrevocable and unconditional and...

Difficulty faced by the Successful Auction Purchaser of Corporate Debtor as Going Concern - Scope of E-Auction documents, conditions and agreements - Discharge of past...

CIRP proceedings - The attachment of the assets of the Corporate Debtor by the Economic Offences Wing will hamper the claim of the Creditors of the Corporate Debtor and...

Initiation of CIRP - Corporate Debtor unable to repay the amount - Non Performing Asset - Right of the Bank - In absence of any specific order of taking over the...

CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

CIRP - Removal of the Leasehold Land from the pull of Assets of the Corporate Debtor - right to terminate the Lease Deed - the Appellant has never initiated any...

Quick Updates: