Home Highlights August 2019 Year 2019 This

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1. Initiation of CIRP - Since the learned counsel for the Respondent conveyed the willingness of Respondent to settle the claim in question, we are inclined to give one...

2. CIRP - the Appellant has not received a single Claim from the date of initiation of the Corporate Debtor into CIRP. As the CoC itself is not constituted and in the light...

3. Circular clarifies that insurance companies are not liable to pay GST on salvage/wreck value deducted from claim settlement amount, as salvage remains property of...

4. 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...

5. CIRP initiated against the Corporate Debtor terminated upon reaching full and final settlement with the Operational Creditor who filed Section 7 application. Quantum of...

6. Initiation of CIRP - Section 7 (5) of the Code uses the term "may", which gives this Adjudicating Authority the option to weigh the pros and cons of initiating a CIRP...

7. Initiation of CIRP or liquidation of company - there is hardly any possibility of any Resolution plan likely to be received during first stage of CIRP, if initiated, and...

8. Rejection of the simultaneous claim by the Resolution Professional of the Corporate Debtor - Claim filed by the Applicant with respect to the corporate guarantee given...

9. Liquidation of company - It must be borne in mind that the IBC treats the CIRP and Liquidation process as two separate stages and the proof of claim is to be filed...

10. CIRP - Renewal of Bank Guarantee for customs duty exemption - When there is no guarantee with respect to the MPP status of the Non-Operational Units and since there are...

11. Initiation of CIRP - Relevant date of default - The Tribunal noted the appellant’s arguments about defaults prior to the RBI’s COVID-19 moratorium guidelines but also...

12. Withdrawal of the CIRP against the Principal Borrower - bar for the Respondent/Lender in initiating fresh CIRP against the Guarantor or not - , this Tribunal holds that...

13. Refund of amount which had been adjusted during CIRP by the Appellant Bank from Fixed Deposits - Once CIRP was initiated and Section 14 of IBC applied such adjustment by...

14. Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection...

15. The National Company Law Appellate Tribunal, Principal Bench, New Delhi addressed issues regarding debt default, impact of One Time Settlement (OTS) Agreement, and...