Validity of admission of application for initiation of CIRP - ...

Court Upholds Validity of CIRP Initiation; UCO Bank May Accept Settlement to Close Process u/s 7.

July 22, 2023

Case Laws Insolvency and Bankruptcy AT

Validity of admission of application for initiation of CIRP - Prayer for intervention in the Appeal - One Time Settlement (OTS) proposal submitted by the Corporate Debtor before the UCO Bank - The impugned order admitting Section 7 Application was an order, which cannot be faulted in law - In event of a settlement accepted by the Bank, the Bank is permitted to file an application through IRP to close the CIRP. - AT

View Source

← Previous Next →

Validity of admission of application for initiation of CIRP - ...

Court Upholds Validity of CIRP Initiation; UCO Bank May Accept Settlement to Close Process u/s 7.

July 22, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

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...

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

Admission of Section 7 Application - CIRP - The case involved an appeal by a suspended director of a corporate debtor against the admission of a Section 7 application by...

Threshold limit for triggering CIRP - Validity of Section 7 of the Insolvency and Bankruptcy Code, 2016 - Initiation of CIRP by Financial Creditors - The statute i.e.,...

The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the...

Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

NCLAT dismissed the corporate debtor's appeal against admission of a Section 7 application filed by Punjab & Sind Bank. Despite the appellant submitting three...

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...

Initiation of CIRP - pre-admission stage - home buyers and creditors - corporate debtor has initiated the process of settlement with the financial creditors - whether,...

Conduct of IRP - Validity of order whereby application for initiation of CIRP was accepted - Settlement between the Corporate Debtor and the Operational Creditor - IRP...

The High Court rejected the petition challenging SEBI's decision to not accept the settlement applications. The petitioner's documents were deficient, and it failed to...

Initiation of CIRP - Maintainability of joint application u/s 7 - The three appellants being part of one Common Real Estate Project and the Applicants of Section 7...

Settlement in a cheque dishonor case u/s 138 NI Act recorded by the court after satisfying its voluntariness is legally binding. Upon breach, the court must initiate...

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

Seeking closure (withdrawal) of CIRP proceedings - Settlement of dispute between the parties - The present is a case where Committee of Creditors has not yet been...

Quick Updates: