Initiation of CIRP - Section 10(4)(b) of IBC, 2016 contemplates ...

Case Laws Insolvency and Bankruptcy

December 14, 2020

Initiation of CIRP - Section 10(4)(b) of IBC, 2016 contemplates that this Adjudicating Authority has the right to reject the Application if it is incomplete. As already stated supra, inspite of opportunity being granted, the Form - VI as filed by the Applicant is incomplete in all respects. Further, this Adjudicating Authority also cannot pass an order of CIRP as against M/s. Prithviraj Spinning Mills Private Limited since the name of the Company is not in existence as on date. - Tri

View Source

← Previous Next →

Initiation of CIRP - Section 10(4)(b) of IBC, 2016 contemplates ...

Case Laws Insolvency and Bankruptcy

December 14, 2020

You may also like:

Ownership of leasehold rights over the subject plot - demand for enhanced land cost was raised much before initiation of CIRP - The tribunal held that the demand for...

Initiation of CIRP - since the affidavit not having been notarized is only a procedural irregularity and it is a curable defect. This irregularity can be rectified by...

Jurisdiction of the Adjudicating Authority (NCLT) to adjudicate upon a closure notice issued prior to the initiation of the Corporate Insolvency Resolution Process...

Initiation of CIRP - Period of Limitation - Exclusion of certain period - NCLT rejected the application - The Adjudicating Authority has committed error in rejecting the...

Initiation of CIRP - NCLT rejected the application of appellant u/s 9 - Period of limitation - The Ld. Adjudicating Authority has taken note of the fact that the Demand...

Initiation of CIRP - It is clear that Respondent ‘Eastern Embroidery Collections Private Limited’ was the Corporate Guarantor of the Principal Borrower ‘Eastern...

Stay of liquidation application - the legislature has consciously not provided any ground to challenge the "commercial wisdom" of the individual financial creditor or...

Once the application of Part II is taken away for debts more than ₹ 1 Crore, there is no further jurisdiction available under the Statute to the NCLT to act as an...

Initiation of CIRP - If IBC is purely used for the purpose of Debt Recovery, particularly when the amounts due are small, and the Company is a solvent entity and is a...

Maintainability of an application for initiation of Corporate Insolvency Resolution Process (CIRP) u/s 9 of the Insolvency and Bankruptcy Code (IBC). The key points are:...

Initiation of CIRP - The Adjudicating Authority (NCLT’s) couched with the powers to be exercisable as enshrined in the I&B Code, 2016. For the purpose of entertaining...

The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax...

Adjudicating Authority under FEMA - The High Court clarified that the Adjudicating Authority is not a persona designata, but a designation empowered by the Act. The...

Refusal to stay the proceedings initiated by the Respondent, Axis Bank Limited against the Appellant - The title “Insolvency and Bankruptcy Code” makes it amply clear...

Seeking withdrawal of application for initiation of CIRP - On a bare reading of the provision of section 7(5) clauses (a) and (b) it is amply clear that the Adjudicating...

Quick Updates: