Initiation of CIRP - Admittedly, Distributorship Agreement ...

Appellant barred from Section 9 Insolvency proceedings due to dispute after Section 8 notice; must follow Distributorship Agreement remedies.

March 14, 2023

Case Laws Insolvency and Bankruptcy AT

Initiation of CIRP - Admittedly, Distributorship Agreement between the parties is not disputed and the Appellant has claims against the Corporate Debtor. Appellant is free to take recourse to the mechanism as provided in the Distributorship Agreement for realisation of its dues. But present is not a case, where Section 9 proceedings under I&B Code can be initiated, when dispute is raised in reply to the Section 8 notice. - AT

View Source

← Previous Next →

Initiation of CIRP - Admittedly, Distributorship Agreement ...

Appellant barred from Section 9 Insolvency proceedings due to dispute after Section 8 notice; must follow Distributorship Agreement remedies.

March 14, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

Once symbolic possession of the property is taken over by the appellant under the SARFAESI Act, 2002, the moratorium u/s 96 of the Insolvency and Bankruptcy Code...

Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

The circular issued by the Government of Tamil Nadu, Commercial Taxes Department, addresses the treatment of statutory dues under GST law for taxpayers whose proceedings...

The court upheld the validity of Clause 23A of the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies)...

CIRP Proceedings under IBC versus Tax Dues / Statutory Dues - The High court noted that NCLT should have been cautious before approving the Corporate Insolvency...

ITAT invalidated reassessment proceedings due to jurisdictional defects in notice issuance under s.148. ITO Ward 3(2), Bulandsahar transferred assessee's records to ITO...

Petitioners, Managing Director and Director of Ms. Kudos Chemie Pvt. Ltd., sought stay of proceedings u/s 138 of Negotiable Instruments Act, 1881, invoking Section 96 of...

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

Rejection of Section 10 application under IBC upheld as Appellant company filed it with unclean hands after evading Wilful Defaulter proceedings by Respondent Bank....

The High Court held that once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan...

Condonation of delay - substantial delay of 166 days before ITAT - The appellant argued that the delay in filing the appeal before the ITAT was due to the absence of...

Validity of “summary of the order” - the Commissioner of State Tax Department are directed to issue appropriate guidelines/circular/notification elaborating therein the...

HC ruled penalty proceedings under sections 271D and 271E require explicit satisfaction to be recorded by Assessing Officer during reassessment. Mere recording of...

Liquidation proceedings - settlement dues of Corporate Debtor - the Appellant having successfully met the dues of three statutory creditors, there is no reason to deny...

The High Court ruled that security interests over assets of a corporate debtor to secure amounts due under a judgment or decree must give way to the provisions of the...

Quick Updates: