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 Pvt. Ltd (Corporate Debtor) against the order of the National Company
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, before the National Company Law Tribunal (NCLT), Ahmedabad. The
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 a comprehensive procedure, named the Corporate Insolvency Resolution Procedure (CIRP) to
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 Winter Hill – 77 Gurgaon Project and the Umang Realtech Pvt.
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