DoH to continue as valid but prohibited actions u/s 14 cannot be ...

Appellants classified as financial creditors can claim despite moratorium; prohibited actions under IBC invalid.

December 23, 2024

Case Laws IBC SC

DoH to continue as valid but prohibited actions u/s 14 cannot be done. Appellants classified as financial creditors u/s 5(7) of IBC entitled to claim despite moratorium. Cause of action irrelevant for claim definition. CoC approval of resolution plan subject to pending applications. NCLAT order set aside, NCLT order upholding appellants' claims restored.

View Source

← Previous Next →

DoH to continue as valid but prohibited actions u/s 14 cannot be ...

Appellants classified as financial creditors can claim despite moratorium; prohibited actions under IBC invalid.

December 23, 2024

Case Laws IBC SC

You may also like:

The Appellate Tribunal affirmed the decision to exclude the Appellant and other unsecured Financial Creditors from the Committee of Creditors (CoC). The key issues were...

The High Court held that u/s 14(1) of the Insolvency and Bankruptcy Code (IBC), while a moratorium prohibits institution or continuation of suits against the corporate...

Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

Rejection of Section 7 Application filed by the Appellant (homebuyers) on the ground of non-compliance of Section 7, sub-section (1), 2nd Proviso - decree-holder is...

The Appellant, a related party unsecured financial creditor, challenged the resolution plan approved by the Committee of Creditors (CoC) and the Adjudicating Authority,...

Power of Resolution Professional to decide or reject the claim of one or other 'Financial Creditor' or 'Operational Creditor' - once resolution plan has been approved by...

Approval of resolution plan - Rejection of the claim of the appellant as Financial Creditors - payment of Earnest Money - The disbursement was not in consideration for...

CIRP proceedings - on the basis of parity being deployed by the RP in admitting claims of both category of financial creditors, there remains no reason to be aggrieved....

Initiation of CIRP - The Appellant, who is a speculative investor, cannot claim status and benefits as financial creditor under Explanation (i) of Section 5(8)(f) of the...

Power of RP to admit the Claims suo-motu - There is no such provision that the IRP shall admit the Claim without filing a Claim either in Form-B or in Form-C. - the IRP...

The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim...

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...

Financial Debt or not - related parties - Approval of Resolution Plan - The basic element of the Financial Debt that such disbursement should be for consideration of...

The National Company Law Appellate Tribunal, Principal Bench, New Delhi, addressed the issue of treatment of VAT/Sales Tax dues as secured or unsecured claims in a...

Classification of a security deposit made by the appellant for a lease deed with the corporate debtor, as either a financial debt or an operational debt under the...

Quick Updates: