Initiation of CIRP - Evidentiary value of respondent’s MOA as ...

Case Laws Insolvency and Bankruptcy

February 7, 2022

Initiation of CIRP - Evidentiary value of respondent’s MOA as amended - Section 13 of CA 2013 provides for the procedure which has to be followed when the MOA is to be amended. In cases where the object clause is amended, it requires the Registrar to register the Special Resolution filed by the company. However, the respondent has provided no proof that: (i) the purported resolution dated 1 September 2014 was a Special Resolution; (ii) it was filed before the Registrar; and (iii) that the Registrar ultimately did register it. Thus, in terms of Section 13(10) of CA 2013, the purported amendment to the MOA would not have any legal effect. - SC

View Source

← Previous Next →

Initiation of CIRP - Evidentiary value of respondent’s MOA as ...

Case Laws Insolvency and Bankruptcy

February 7, 2022

You may also like:

Exemption to Government Companies under section 462 of CA, 2013 - Notification

Exemption to Private Companies under section 462 of CA, 2013 - Notification

Exemption to Section 8 Companies under section 462 of CA, 2013 - Notification

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

Transfer of applications - Sanction of a scheme of compromise - the Scheme was sanctioned by this Court and several applications were dealt with thereafter under Section...

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...

Suspension of initiation of CIRP - On the basic principle of statutory interpretation, the provision of Section 10A is capable of only one meaning that is suspension of...

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...

Initiation of CIRP - Insufficiently stamped documents - admissible evidence or not - The decision of the Adjudicating Authority that Corporate Debtor has committed...

Maintainability of application - initiation of CIRP - Corporate Debtor failed to make repayment of its debt - Whether the debt is beyond 3 years from the date of...

Professional Misconduct - Chartered Accountant (CA) - Significant failures to adhere to Standards on Auditing (SAs), gross negligence, and lack of professional...

Constitutional Validity of Section 327(7) of the Companies Act, 2013 - statutory claims of the “workmen’s dues” - Overriding effect of the provisions of IBC - As...

The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

CESTAT (Appellate Tribunal) addressed whether appeals continue post initiation of Corporate Insolvency Resolution Process (CIRP) and approval of Resolution plan u/s...

Reduction in value of goods in subsequent MoA – At time of import, price was available on basis of MoA of agreement and there is no material placed by appellant for...

Quick Updates: