Margin Money is not included as Security Interest under the IBC and is not an asset of the Corporate Debtor: NCLAT Principal Bench
The Hon’ble Division Bench, National Company Law Appellate Tribunal, (NCLAT) Principal Bench-New Delhi, comprising of Justice Anant Bijay Singh, Member (Judicial) and Ms. Shreesha Merla, Member (Technical) in Punjab National Bank v. Supriyo Kumar Chaudhari and Ors.1
Limitation period for filing applications under I&B Code
The Hon’ble Supreme Court, in Tech Sharp Engineers Private Limited v. Sanghvi Movers Limited (Civil Appeal No. 296 of 2020), on September 19, 2022, held “a claim may not be barred by limitation, it is
Resolution Plan that fails to address Statutory Dues is bound to be rejected by the Adjudicating Authority: Supreme Court
The Hon’ble Division Bench, Supreme Court comprising of Justice Indira Banerjee, and Justice A.S. Bopanna, in State Tax Officer (1) v. Rainbow Papers Limited (Civil Appeal No. 1664 of 2020), on 6th September, 2022, held that a
LIABILITY OF A PERSONAL GUARANTOR SHALL NOT EXTINGUISH UPON SUBSEQUENT RENUNCIATION OF INDIAN CITIZENSHIP: NCLT KOLKATA BENCH
NCLT Kolkata Bench, comprising of Shri Rohit Kapoor, Member (Judicial) and Shri Harish Chander Suri, Member (Technical), in SBI v. Sudip Bijoy Dutta, Director of Ess Dee Aluminium Ltd.(Company Petition No. 54/KB/ 2021), on 16th June, 2022
The Holder of the Recovery Certificate would be a Financial Creditor and would be entitled to initiate CIRP: Supreme Court
A Supreme Court Bench comprising Justices L. Nageswara Rao, B.R. Gavai and A.S. Bopanna, in Kotak Mahindra Bank Limited v. A. Balakrishna and Anr (Civil Appeal No. 689 of 2021), affirmed the view taken in
NCLT HAS JURISDICTION OVER PERSONAL GUARANTORS EVEN IF NO CIRP/LIQUIDATION IS PENDING AGAINST CORPORATE DEBTOR : SUPREME COURT
Supreme Court bench comprising of Justice S Abdul Nazeer and Justice Vikram Nath held that NCLT has jurisdiction over proceeding against personal guarantors of corporate debtor under Insolvency and Bankruptcy Code (“I&B Code”) even if
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