CIRP - Prohibition on recovery proceedings against the Corporate ...

Case Laws Insolvency and Bankruptcy

June 20, 2023

CIRP - Prohibition on recovery proceedings against the Corporate debtor - A conjoint reading of the proviso to Section 14 of the IB Code and the provisions of Section 33 of the IB Code, would show that where the resolution plan is rejected or not accepted, the Tribunal is required to pass an order requiring corporate debtor be liquidated in the manner laid down in the chapter and carry out such other actions as mandated therein. - HC

View Source

← Previous Next →

CIRP - Prohibition on recovery proceedings against the Corporate ...

Case Laws Insolvency and Bankruptcy

June 20, 2023

You may also like:

The Appellate Tribunal held that the Annual Mine Closure Cost (AMCC) deposited by the Corporate Debtor in an Escrow Account belongs to the Corporate Debtor and cannot be...

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

Rejection of the simultaneous claim by the Resolution Professional of the Corporate Debtor - Claim filed by the Applicant with respect to the corporate guarantee given...

CIRP - If there are two borrowers or if two corporate bodies fall within the ambit of corporate debtors, there is no reason why proceedings under Section 7 of the IBC...

Corporate insolvency resolution process (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

CIRP initiated against the Corporate Debtor terminated upon reaching full and final settlement with the Operational Creditor who filed Section 7 application. Quantum of...

CIRP proceedings - The attachment of the assets of the Corporate Debtor by the Economic Offences Wing will hamper the claim of the Creditors of the Corporate Debtor and...

The NCLAT held that the corporate debtor failed to substantiate a pre-existing dispute with the operational creditor regarding the unpaid operational debt. The corporate...

CIRP - bonafide nature of the transactions or not - recovery from the ex-directors of the corporate debtor - forensic and transaction audit of the corporate debtor was...

The NCLT had directed the release of an industrial promotion subsidy claim amount to the Corporate Debtor, which was sanctioned prior to the commencement of CIRP. The...

Initiation of CIRP - Failure to pay outstanding salary dues to the employees - Operational Creditor has not received his dues from the Corporate Debtor and the...

CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void...

Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing...

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

Approval of Resolution Plan - Right of the secured creditor over immovable asset of the Corporate Debtor - Unless the prohibition is imposed, all assets of the Corporate...

Quick Updates: