Initiation of CIRP - The debt has been defined in Section 3(11) ...

Corporate Insolvency Resolution Process: Retention Money Classified as Debt and Default u/s 3(11) Definition.

August 22, 2020

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - The debt has been defined in Section 3(11) means a liability or obligation in respect of a claim which is due from any person and includes a Financial Debt and Operational Debt - In view of the definition of debt and default, the retention money, which is part of the main bill, comes under the definition of debt and default. - AT

View Source

← Previous Next →

Initiation of CIRP - The debt has been defined in Section 3(11) ...

Corporate Insolvency Resolution Process: Retention Money Classified as Debt and Default u/s 3(11) Definition.

August 22, 2020

Case Laws Insolvency and Bankruptcy AT

You may also like:

The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the...

Initiation of insolvency resolution of a personal guarantor of the Corporate debtors - The law doesn't envisage that the insolvency resolution of the personal guarantor...

Initiation of Corporate Insolvency Resolution Process - financial creditor - If there were any doubt in the nature of transaction, same got cleared as even according to...

Corporate Insolvency Resolution Process - The presence of an arbitration clause in the share purchase agreement would not cause any impediment with regard to initiation...

Corporate Debtors failed to deliver housing units to allottees within stipulated time despite receiving payments. NCLAT rejected Corporate Debtors' contentions regarding...

External Commercial Borrowings (ECB) Policy – ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process

Corporate Insolvency Resolution Process (CIRP) against guarantor - corporate debtor admittedly being corporate guarantor to the money borrowed by the principal borrowers...

The Appellant (SIDBI) had established a clear case of continuous defaults by the Respondent (Sambandh Finserve Private Limited) in loan repayment post the suspension...

Admission of section 7 application - financial debt owed by the Corporate Debtor or not - Home Buyers - The application was filed by respondents, who were allottees in a...

CIRP Proceedings against the Personal Guarantors - the ‘Adjudicating Authority’ / ‘Tribunal’, has ‘jurisdiction’, to ‘entertain’/’initiate’, the ‘Insolvency Proceedings’...

Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

Corporate debtor defaulted in repaying financial debt owed to financial creditor. NCLAT dismissed appeal, upholding orders of adjudicating authority. Transaction...

Initiation of the process against two ‘Corporate Guarantors’ simultaneously for the same set of debt and default - for same set of debt, claim cannot be filed by same...

The Appellate Tribunal dismissed the appeal filed by the Petitioners seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate...

Initiation of Corporate Insolvency Resolution Process - default in making repayment - the Operational Creditor becomes entitled to retention money of 25% or 20% only if...

Quick Updates: