A class action suit in India can be filed against a company, its directors, auditors, or advisors under Section 245 of the Companies Act, 2013, before the National Company Law Tribunal (NCLT) when affairs are managed in a manner prejudicial to the interests of members or depositors. The NCLT has recently admitted a significant ₹2,500-crore class action … Read more
The Corporate Insolvency Resolution Process (CIRP) is a time-bound legal mechanism under India’s Insolvency and Bankruptcy Code (IBC) for resolving financially distressed companies, aiming to revive them through restructuring or orderly liquidation to repay creditors. Initiated by creditors or the company itself via the National Company Law Tribunal (NCLT), it involves appointing a Resolution Professional … Read more
The National Company Law Tribunal (NCLT) oversees liquidation proceedings in India as the adjudicating authority under the Insolvency and Bankruptcy Code, 2016 (IBC). Liquidation is the final step in winding up a company’s affairs when revival is not possible, involving the sale of assets and distribution of proceeds to stakeholders. This is a case digest … Read more
An Application for Initiation of Corporate Insolvency Resolution Process (CIRP) is a formal request filed with the National Company Law Tribunal (NCLT) by a creditor or the corporate debtor itself, under India’s Insolvency and Bankruptcy Code (IBC), to resolve a company’s debt issues, typically using specific forms (like Form 1, 2, 3, 4 for financial … 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
To revive a struck-off company from the NCLT (National Company Law Tribunal), you must file a petition (Form NCLT-9) within 20 years, proving the strike-off was unjustified by showing ongoing business/assets and submitting required documents like MOA, financials, and ROC notice, followed by NCLT hearings and compliance with directions for overdue filings. The process involves … Read more
A Section 9 NCLT Petition under India’s Insolvency and Bankruptcy Code (IBC) is filed by an Operational Creditor (OC) against a Corporate Debtor (CD) to initiate Corporate Insolvency Resolution Process (CIRP) for unpaid operational debt, requiring a prior demand notice under Section 8; if the CD doesn’t pay or dispute within 10 days, the OC … 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
Post covers PROCEDURE FOR INSOLVENCY IN CHANDIGARH NCLT BENCH wherein the creditor recovers money from the defaulter under IBC, 2016. The insolvency procedure in India is primarily governed by the Insolvency and Bankruptcy Code, 2016 (IBC), and the specific process varies depending on whether the debtor is a company or an individual/partnership firm. Corporate Insolvency … Read more
RESTORATION OF NAME STRUCK OFF COMPANY is done by NCLT Lawyers Chandigarh under Companies Act. A company can be struck off by the NCLT for various reasons enumerated under section 248 and section 164 of the Companies act, 2013. Such a case where a company has been struck off by the NCLT, there exists a … Read more
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