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Principal borrower is not required to be “corporate person” as in the present case, proprietorship concern, for the lender to initiate such proceedings against guarantor who is a corporate person.…
Application under S. 9 by an employee against employer company is admissible when there is non-payment of salary by the employer/corporate debtor. It was clear that there is an acknowledgement…
Party ineligible under S. 29-A IBC to submit a resolution plan under IBC is not eligible to file an application for compromise and arrangement in terms of Ss. 230 to…
Art. 137 of the Limitation Act gets attracted to applications filed under Ss. 7 and 9 IBC. The right to sue accrues when a default occurs, and if that default…
Held, is applicable to applications preferred under S. 7 IBC once it is shown that all conditions for application of S. 14 of the Limitation Act are satisfied in the…
Held, Considering the text of S. 60(5)(c) and the interpretation of similar provisions in other insolvency related statutes, NCLT has jurisdiction to adjudicate disputes, which arise solely from or which…
It was brought to the notice that there are 39 members at present for a sanctioned strength of 63 and the depletion of the strength of the members will adversely…
Held, Subclause (7) of Regulation 36-B inserted with effect from 4-7-2018, dealing with the request for resolution plans unambiguously postulates that the resolution professional may, with the approval of the…
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