CIRP - Jurisdiction and constitution of single member bench of ...

Single NCLT Member Lacks Authority to Approve Resolution Plans Without Proper Notification Under Insolvency Code.

January 2, 2024

Case Laws Insolvency and Bankruptcy AT

CIRP - Jurisdiction and constitution of single member bench of NCLT - Approval of resolution plan - Until and unless a notification is issued under the first proviso to Section 419(3) of the Code the single judicial member cannot take upon itself the jurisdiction to entertain an application such like the one in hand and decide the same, therefore, the impugned order has been passed by an authority having no jurisdiction. - AT

View Source

← Previous Next →

CIRP - Jurisdiction and constitution of single member bench of ...

Single NCLT Member Lacks Authority to Approve Resolution Plans Without Proper Notification Under Insolvency Code.

January 2, 2024

Case Laws Insolvency and Bankruptcy AT

You may also like:

Entertainment of claims made by creditors after approval of Resolution Plan - A stakeholder cannot afford to sleep over his claims and fail to submit it on time and come...

The High Court held that the Execution Application filed by the Applicant against the Respondent does not survive due to the approved Resolution Plan under the...

NCLAT ruled on NCLT's authority to modify resolution plans under IBC. Court held NCLT's powers do not extend to examining CoC's commercial wisdom or conducting...

Resolution plan approved by Committee of Creditors (CoC) with 97.54% vote share. Commercial wisdom of CoC in approving resolution plan not to be lightly interfered with....

Validity of Assessment Order u/s 143(3) once the Resolution Plan is approved under the Code - CIRP proceedings under IBC - The resolution plan approved by the NCLT is...

Company insolvent. NCLT approved Resolution Plan vide order 20.06.2022, upheld by NCLAT dismissing respondent-Authority's appeal on 21.05.2024. Per Ghanashyam Mishra...

Rejection of Approval Plan - When Appellant has submitted the Resolution Plan which was approved on 08.11.2018, he cannot just say that he was not aware of the...

Recovery of excise duty, which got extinguished on approval of resolution plan - Section 31(1) of the IBC, 2016 mandates that the resolution plan approved by the NCLT...

Immunity to corporate debtors and their assets, upon approval of a resolution plan - jurisdiction of NCLT to release the attached properties by invoking Section 32A of...

The summary focuses on the approval of a resolution plan by the Committee of Creditors (CoC) and the limited scope of judicial review by the adjudicating authority. The...

The NCLAT rejected the intervention application filed by the Appellant for approval of the Resolution Plan u/s 30 of the I&B Code. The Appellant was an unsuccessful...

The appellant's claim for Rs. 9.21 crores, arising from the termination of an agreement due to non-renewal of a performance bank guarantee, was not considered by the...

The Appellate Tribunal dismissed the appeal, holding that there was no infirmity in the Adjudicating Authority's order rejecting the application to set aside the...

ITAT partly allowed assessee's appeals and remanded matter to AO to take necessary steps u/s 156A regarding penalty u/s 271(1)(c) against dissolved company. NCLT had...

NCLAT dismissed an appeal challenging the rejection of a new resolution plan submission. The tribunal held that once a resolution plan is approved by the Committee of...

Quick Updates: