Home Highlights March 2015 Year 2015 This

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1. The Delhi High Court considered the winding up of an unregistered foreign company for non-payment of outstanding dues u/s 433(e) and (f) read with Sections 434 and 439...

2. Initiation of CIRP - Period of limitation - It is now well settled that the provisions of the Limitation Act are applicable to proceedings under the IBC as far as may be...

3. Validity of Winding up order - Antrix, which initiated the proceedings for winding up, is neither a financial creditor nor an operational creditor nor a corporate...

4. Winding up of the respondent company seeked - It is well settled that proceeding for winding up, is not a proceeding for the recovery of outstanding dues. Nor for that...

5. Winding up - It is well settled that the proceedings of winding up is not a recovery proceeding. Once it is demonstrated that the debt is subject to a bona fide dispute,...

6. Seeking for an order of winding up of the respondent-company - As pointed out that striking of the name of the company should not come in the way of passing an order of...

7. Winding up petition - inability to pay debts - The disputes to the debt due as raised in the reply to the winding up petition are a mere after thought and without...

8. Application for winding up - Default in repayment of debt - respondent has admitted its liability to pay the bills - the mere pendency of arbitration proceedings does...

9. Classification of goods - rate of GST - HSN Code - used/running Wind Turbine Generator (WTG) / Wind Mill with accessories for sale purpose - entire unit of wind mill is...

10. Court ordered dissolution of company and discharged Official Liquidator as Liquidator u/s 481 of Companies Act, 1956 as Official Liquidator could not proceed further...

11. The legality and validity of the termination of arbitral proceedings u/s 32(2)(c) of the Arbitration and Conciliation Act, 1996 - The Supreme Court found no evidence of...

12. Winding up petition - time limitation - recovery of dues - A suit for recovery based upon a cause of action that is within limitation cannot in any manner impact the...

13. Depreciation on wind electric generations - wind mill generator is nothing but wind mill equipment on which depreciation is allowable @ 100% as per the statutory provision - AT

14. The NCLAT held that Section 238 of the IBC gives overriding effect to proceedings u/s 7, despite Section 10 of CPC. Proceedings u/s 7 must proceed, as the Code's...

15. Seeking winding up of respondent company - Failure to pay outstanding dues - section 434 of the Companies Act, 1956 - The court noted the substantial unpaid amount...