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13556600Sections 61 & 9 Appeals and Appellate Authority Default in payment of listing fees Listing fees co -- The corporate debtor entered into Listing Agreement with BSE. The corporate debtor defaulted in making payment of listing fees as per Clause 38 of Listing Agreement. Therefore, BSE filed application under section 9 for initiating CIRP against corporate debtor. The corporate debtor|s defence was that listing fees, which was claimed by operational creditor, was not an operational debt but it was a |regulatory fee| payable in pursuance to regulation 14 of SEBI (LODR) Regulations, 2015. Thereafter, ......
2021 TaxPub(CL) 2452 (NCLAT-Del) BSE Ltd. v. Asahi Infrastructure & Projects Ltd. Against Appellant, NCLAT-Del, Company Appeal (AT) (Insolvency) No. 346 of 2019, 21-Dec-2021

13556500Sections 7, 31 & 62 Initiation of CIRP by financial creditor Approval of appellant|s resolution pla -- The Resolution Professional (RP) of corporate debtor invited Expression of Interest (EoI) from prospective resolution applicants. The four prospective resolution applicants submitted their respective resolution plan. The Committee of Creditors (CoC) approved the resolution plan submitted by appellant with 100% voting share, which was further approved by NCLT. The respondent-PPIPL, an unsuccessful resolution applicant, contended that it sought for one or two days| time to submit its revised resol......
2021 TaxPub(CL) 2451 (SC) Ngaitlang Dhar v. Panna Pragati Infrastructure (P) Ltd. & Ors. In favour of Appellant, SC, Civil Appeal Nos. 3665-3666 of 2020 & Civil Appeal Nos. 3742-3743 of 2020, 17-Dec-2021

13291100 2021 TaxPub(CL) 1948 (SC) Rajendra Narottamdas Sheth & Anr. v. Chandra Prakash Jain & Anr. SC, Civil Appeal No. 4222 of 2020, 30-Sep-2021

13213300Section 54A Corporate debtors eligible for pre-packaged insolvency resolution process Application to -- Corporate debtor filed an application under section 54A to initiate Pre-Packaged Insolvency Resolution Process of the corporate debtor on the ground that there was default in payment of debt to creditor. Further that, resolution to initiate the Pre-Packaged Insolvency Resolution Process (PPIRP) of the corporate debtor was also approved by members and creditors. Held: A Special Resolution by the members of the corporate debtor to initiate the Pre-Packaged Insolvency Resolution Process under sec......
2021 TaxPub(CL) 1753 (NCLT-Ahd) GCCL Infrastructure & Projects Ltd. In favour of Applicant, NCLT-Ahd, C.P. (IB) No. 116/54/NCLT/AHM/2021, 14-Sep-2021

13432800 2021 TaxPub(CL) 2294 (NCLAT-Del) Air Travel Enterprises India Ltd. v. Union Bank of India NCLAT-Del, Company Appeal (AT) (Insolvency) No. 993 of 2020, 09-Sep-2021

13409900 2021 TaxPub(CL) 2201 (NCLAT-Del) Ranjeet Singh v. Karan Motors (P) Ltd. Appeal Dismissed, NCLAT-Del, Company Appeal (AT) (Insolvency) Nos. 719, 721, 722, 723 & 728 of 2020, 18-Aug-2021

13333300 2021 TaxPub(CL) 2095 (NCLAT-Del) D.K. Mohanty v. Jai Balaji Industries Appeal Allowed, NCLAT-Del, Company Appeal (AT) (Insolvency) Nos. 888 & 889 of 2020, 17-Aug-2021

13333700Sections 53 & 36 Distribution of assets Value of corporate debtor|s assets is NIL Order for dissol -- NCLT passed an order for dissolution of corporate debtor. The appellants filed present appeal against said order on ground that respondent disbursed the entire amount as received from sale of assets of corporate debtor towards provisional expenses and some amount towards financial creditor. However, the EPF dues were outside the liquidation estate and such dues ought to have been paid in priority, in accordance with section 36(4) of the Code. Held: It was found that appellants though made their ......
2021 TaxPub(CL) 2099 (NCLAT-Chen) Central Board of Trustees, EPF v. The Liquidator (Gorur Narasimhamurthy Venkataraman) Against Appellant, NCLAT-Chen, Company Appeal (AT) (CH) (INS) No. 10 of 2021, 16-Aug-2021

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