In the case of K. Kishan v. Vijay Nirman Company Pvt Ltd (CIVIL APPEAL NO. 21824 OF 2017) it was held by the Hon’ble Supreme Court that when objections are pending under Section 34 or Section 37 of the Arbitration and Conciliation Act it will be held that the amount is disputed debt. The facts...
In the case of Vijay Kumar Jain vs Standard Chartered Bank and others(Civil Appeal No.8430 Of 2018) the main issue before the Hon’ble Supreme Court is whether erstwhile board of directors of the Corporate Debtor should be given confidential documents like resolution plan. Standard Chartered Bank Ltd. and DBS Bank Ltd. who were the financial...
In the case of Uttara Foods and Feeds Private Limited v. Mona Pharmachem (CIVIL APPEAL NO. 18520 OF 2017 (Arising out of SLP(C) No. 26824 of 2017)) the Hon’ble Supreme Court recommended that competent authorities amend the relevant rules to include inherent powers of the tribunals. The facts of the case were that Mona Pharmachem...
In the case of Transmission Corporation of Andhra Pradesh Ltd. v. Equipment Conductors & Cables Ltd.( CIVIL APPEAL NO. 9597 OF 2018) the Hon’ble Supreme Court dismissed the order of the NCLAT since there was no debt payable in law. The facts of the case were that the Appellant i.e. Transmission Corporation of Andhra Pradesh...
In the case of Mr. Umesh Aggarwal v. RICOH India Ltd. (Company Appeal (AT) (Insolvency) No. 621 of 2018) the NCLAT gave clarifications regarding Section 10 of the Insolvency and Bankruptcy Code, 2016. The facts of the case were that the Respondent, i.e. the Corporate Debtor filed an application under Section 10 of the Insolvency...
In the case of Pr. Commissioner of Income Tax v. Monnet Ispat and Energy Ltd (Petition(s) for Special Leave to Appeal (C) No(s). 6483/2018) the main issue before the Hon’ble Supreme Court was that whether moratorium will be applicable to the proceedings of Income Tax Appellant Tribunal. In this an application under Section 7 of...
In the case of Karpara Project Engineering Private Limited v BGR Energy Systems Ltd. ( Company Appeal (AT) (Insolvency) No. 622 of 2018) the main issue before the NCLAT was whether dispute was unwarranted and spurious due to which it cannot be accepted as existence of dispute. The facts of the case were that the...
In the case of Cheran Properties Ltd. Vs. Kasturi and Sons Ltd. and Ors.( Civil Appeal Nos. 10025-10026 of 2017) the issue before the Hon’ble Supreme Court was whether an Arbitration Award can be enforced by the NCLT. Sporting Pastime Limited (SPIL) was a fully owned subsidiary of Kasturi & Sons Limited (KSL). It entered...
In the case of Capri Global Capital Limited Vs. Value Infracon India Pvt. Ltd.(Through its Resolution Professional Mr. Sanjay Kumar Singh) & Anr.( Company Appeal (AT) (Insolvency) No. 29 of 2019) the main issue before the NCLAT was whether the financial creditor can claim voting rights against the total loan amount of the contract or...
In the case of Canbank Factors Ltd. Vs. Dharmendra Kumar (Company Appeal (AT) (Insolvency) No. 789 of 2018) the NCLAT held any kind of debt cannot be recovered during the moratorium period. On 28th February 2018 Corporate Insolvency Resolution Process (CIRP) was initiated against M/s IAP Company Pvt. Ltd. and moratorium was passed. However, it...
