NCLAT’s Authoritative Interpretation of Prior Approval under Section 33(5) of the I&B Code
Introduction On May 31, 2024, the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, delivered a significant judgment in the matter of Slimline Realty Pvt. Ltd. v. Mr. Jigar Bhatt. The ruling, encapsulated
Treatment of EPFO Dues (7A, 7Q and 14B of EPF Act) in Liquidation: Exclusion under IBC Section 36(4)(a)(iii) and Non-Applicability of Section 53(1)
Introduction: In the case of Mr. Anuj Bajpai vs. Employee Provident Fund Organisation & Ors.[i], Liquidator submitted that Contribution under Section 7A should have been treated in accordance with Section 36(4) of the Code and,
Application Under Section 95 Of IBC Cannot Be Rejected Solely On The Grounds Of Non Stamping Or Insufficient Stamping Of Deed Of Guarantee When The Default Had Been Satisfactorily Established.
Introduction In the case of State Bank of India v. Mamta Kishore Apparao[i], the Hon’ble NCLT held that the defect as to insufficient/non-stamping of Guarantee Deeds is a curable defect and thus cannot be a
Provisions of Section 60(5) of the Code can be invoked to realise the amount of admitted dues in relation to services provided by the Corporate Debtor.
In the case of Vineet K. Chaudhary Vs. NTPC Ltd., the Hon’ble NCLT Mumbai Bench held that provisions of section 60(5) of IBC 2016, can be invoked for recovery of admitted dues payable to the
Financial Creditor Can Change Default Date via Rejoinder Affidavit Under Section 95 Application against Personal Guarantor
Introduction: In the case of Sanjeeb Ranjeet Das v. Punjab National Bank and Anr.[i], The Hon’ble NCLAT held that a Financial Creditor through a rejoinder affidavit in the application filed under Section 95 of The
Allottee who are part of Monthly Assured Return Plan agreement under a real estate project, cannot be considered a distinct class
In the case of Rita Malhotra and Anr. Vs Orris Infrastructure Pvt. Ltd., the National Company Appellate Tribunal vide order dated 02.07.2024 held that the appellants do not cease to be an “allottee” merely because
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