In this post we will talk about class action suit under Section 245 of the Companies Act and the procedure to file a case for the same. Class Action Suit in NCLT What is NCLT? National Company Law tribunal is a quasi judicial body constituted under Company act of 2013. It has the powers to … Read more
A petition was filed under rule 7 of the Insolvency and Bankruptcy Code for initiating corporate Insolvency resolution process. Petitioner was involved in manufacturing of pulp, paper, duplex board etc.The corporate applicant was declared Non- Performing Asset (NPA) after the sanctioning of loan on 31.3.2011. State Bank of India had issued a notice on 28.5.2011 … Read more
This is a case digest on the NCLT Chandigarh Bench of Bank of India versus Little Bee International Private Limited in CA No.1215 of 2019 Under Section 33 (1) & (2) of the Insolvency and Bankruptcy Code, 2016. As per COC report, the liquidator will dissolve the company Regulation 32A of the Insolvency and Bankruptcy … Read more
UNITED BANK OF INDIA/ Financial Creditor filed this application to adjudicating authority under Section 7 of Insolvency & Bankruptcy Code read with Rule 4 of Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for Initiating Corporate Insolvency Resolution Process (CIRP) as against M/s. Jotisriram Himaghar Private Limited/ Corporate Debtor. FACTS OF THE CASE: … Read more
In this case, we will cover and give an overview of the case Corporate Bank Vs Firestar International Limited and it will give you a brief yet precise outline regarding all the major facts and issues involved in this particular case which basically revolves around claiming and repayment of dues. The judgement is based on … Read more
Today, in this piece, we will practically and legally examine the validity of scrapping off a company’s name from the Register of Companies by the Registrar of Companies (ROC). We look at this scenario in light of the judgement passed by the National Company Appellate Tribunal (NCLAT) in the case of Tweak the Future Innovations … Read more
This is a case digest of judgment filed under Section 9 NCLT Petition under Insolvency & Banking Code wherein the Interim Resolution Professional were appointed and unable to pay its debts and therefore the CIRP procedure may be initiated against the Respondent / Corporate Debtor by the Petitioner. The Adjudicating Authority hereby declares moratorium for … Read more
This post is a judgment digest of NCLT Chandigarh Insolvency case against SRS Ltd filed by SBI wherein application under Sec 7 of IBC Code, 2016 was admitted and IRP (Interim Resolution Professional Appointed). Similarly through this post one can grasp Insolvency Case Procedure Steps in NCLT Chandigarh Bench. Now its better you read the … Read more
Insolvency is the state at which an individual or a corporate entity is unable to repay its debts or financial obligations from their assets. It usually arises from poor cash management, a reduction in cash inflow, or an increase in expenses. Bankruptcy on the other hand is adetermined insolvency made by a court of law … Read more
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