Initiation of CIRP - Requirement of mandatory service of notice ...

Winding up petitions under 2013 Act amendments don't require Section 8 notice for Section 9 insolvency applications.

February 23, 2023

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - Requirement of mandatory service of notice u/s 8 - After the transfer of winding up proceedings as per Rules 2016 read with amendments made in Section 434 of the Act, 2013 as applicable to the Code by Act 26 of 2018, if the winding up petition has been filed on the ground that the Company is unable to pay its debt, for treating the application under Section 9 of the Code, notice under Section 8 of the Code is not necessary or mandatory and a petition under Section 9 shall be maintainable without service of notice under Section 8 of the Code. - AT

View Source

← Previous Next →

Initiation of CIRP - Requirement of mandatory service of notice ...

Winding up petitions under 2013 Act amendments don't require Section 8 notice for Section 9 insolvency applications.

February 23, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

Winding up petition - Jurisdiction of High Court - This Court possesses the jurisdiction to hear out the winding up petition being CP 1 of 2016 along with all connected...

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...

Winding up petition - non reply to statutory notice - commercial insolvency - as each of the companies are unable to discharge their debts, are commercially insolvent...

Validity of order of NCLT admitting the application for CIRP - Although, pendency of winding-up petition before the High Court may not preclude filing of Section 7...

The High Court rejected the appellants' application for release of the amounts deposited by the respondent company. The appellants' contention that their petition was...

Validity of application filed u/s 10 of the I&B Code - petition filed without approval of shareholder - under Article 127(xii), the Board of Directors have been...

Winding up petition - respondent is unable to pay its debts - The disputed facts and the allegations of fraud, forgery and fabrication cannot be considered in the...

Winding up petition - recovery of debt - An effort was made to mislead the Company Judge - The petition for winding up shall stand admitted - HC

Petition for Winding up – Demurrage Charges - Winding up petition was not a legitimate means to seek enforcement of a debt which was genuinely and bona fide disputed by...

Winding up petition - whether a secured creditor was within its right to maintain a petition for winding up without giving up its security - Held yes - HC

Corporate insolvency process - Admission of winding up petition - Prior admission stage of pendency of winding up proceeding against corporate debtor under the Companies...

No bar on NCLT to trigger an Insolvency Resolution Process on an application filed under sections 7,9 & 10 if a winding up petition is pending unless an official...

Winding up petition must fail - it makes no difference that the petitioning-creditor has a pending application before the Debt Recovery Tribunal - HC

The High Court dismissed the petition filed by the petitioner seeking removal of his removal as Liquidator due to incomplete qualifications. The petitioner's application...

Transfer of pending application for winding up of the respondent company to the NCLT under IBC - The decision reflects the principle that winding up petitions pending...

Quick Updates: