NCLAT: Lease and Rental dues do not constitute Operational Debt under the Insolvency and Bankruptcy Code
This declared by the NCLAT in the case of Ravindranath Reddy v. G. Kishan. In this case, an appeal before the National Company Law Appellate Tribunal (NCLAT) was filed by Mr. Ravindranath Reddy, the director of M/S Walnut Packaging...
NCLT Ahmedabad held Cross Border Demergers are impermissible under the Companies Act 2013
The NCLT Ahmedabad bench through an order declared the inapplicability of the provisions under the Companies Act over transitions pertaining to cross border demergers. Facts An application for sanctioning a Scheme of Arrangement (SOA) was made by The Sun Pharmaceutical Industries Ltd,...
Reverse Corporate Insolvency Resolution Procedure [Reverse CIRP]: A Novel Experiment Conducted By The NCLAT
The Insolvency and Bankruptcy Code, as mentioned in the objects and reasons, was enacted to provide effective resolution procedure for timely resolution of debtors, and to maximise the value of the debtor’s assets. To pursue these objects, it provides...
NCLAT: Is following the Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code a viable option when the defaulter is an Infrastructure and Real...
This question was addressed by the National Company Law Appellate Tribunal (NCLAT) in the case of in Flat Buyers Association v. Umang Realtech Pvt. Ltd. The case was concerned between the Flat Buyers Association of the Umang Realtech Pvt. Ltd.’s...
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