NCLAT Upholds the Operational Creditor's Claim Despite the Corporate Debtor's Allegations of Fabricated Invoices and Involvement of a Shell Company
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![NCLAT Upholds the Operational Creditor's Claim Despite the Corporate Debtor's Allegations of Fabricated Invoices and Involvement of a Shell Company](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
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![Committee of Creditors (CoC) Lacks Jurisdiction to Substitute or Modify the Successful Resolution Applicant’s Post-Plan Approval](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- Aug 1
- 3 min
Committee of Creditors (CoC) Lacks Jurisdiction to Substitute or Modify the Successful Resolution Applicant’s Post-Plan Approval
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![Despite the Company’s Earlier Strike-off, the NCLAT Confirms the Validity of the Resolution Plan](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- Jul 31
- 2 min
Despite the Company’s Earlier Strike-off, the NCLAT Confirms the Validity of the Resolution Plan
![CIRP Costs cannot Include Costs Associated with Terminated Projects that do not Contribute to the Ongoing Viability of the Corporate Debtor](https://static.wixstatic.com/media/d515a3_246cc421f2d94dcb9ce2d67be9ea9aa5~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_246cc421f2d94dcb9ce2d67be9ea9aa5~mv2.webp)
- Jul 30
- 2 min
CIRP Costs cannot Include Costs Associated with Terminated Projects that do not Contribute to the Ongoing Viability of the Corporate Debtor
![](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
![NCLAT Determines Commissioner of State Tax Department's Claims are Appropriately Classified as Unsecured](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- Jul 30
- 2 min
NCLAT Determines Commissioner of State Tax Department's Claims are Appropriately Classified as Unsecured
![](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
![Failure of a One Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of the IBC](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- Jul 29
- 2 min
Failure of a One Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of the IBC
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![Related parties do not have a legal right to be treated on par with unrelated financial creditors in a resolution plan](https://static.wixstatic.com/media/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_0aac6e7a36ec461e9d747ca6eae09211~mv2.webp)
- Jul 29
- 2 min
Related parties do not have a legal right to be treated on par with unrelated financial creditors in a resolution plan
![Approval of a resolution plan for a guarantor does not automatically discharge the underlying debt of the principal borrower](https://static.wixstatic.com/media/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.png/v1/fill/w_209,h_209,fp_0.50_0.50,q_95,enc_auto/d515a3_f4ac4d7b133149e9b7279d836b198a5b~mv2.webp)
- Jul 26
- 3 min
Approval of a resolution plan for a guarantor does not automatically discharge the underlying debt of the principal borrower
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![Whether Section 33(5) of the Insolvency and Bankruptcy Code Mandates Prior Approval for a Liquidator to Initiate Proceedings: Mandatory or Directory?](https://static.wixstatic.com/media/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_c1b9b022c9eb40c9b10f3364a50edae9~mv2.webp)
- Jul 25
- 2 min
Whether Section 33(5) of the Insolvency and Bankruptcy Code Mandates Prior Approval for a Liquidator to Initiate Proceedings: Mandatory or Directory?
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![Service benefits such as Gratuity, LTC, and EL Encashment do not constitute operational debts under the Insolvency and Bankruptcy Code, 2016](https://static.wixstatic.com/media/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.jpg/v1/fill/w_209,h_209,fp_0.50_0.50,q_90,enc_auto/d515a3_63b77778a10e48b1ae6c01dcf466a4d9~mv2.webp)
- Jul 24
- 2 min
Service benefits such as Gratuity, LTC, and EL Encashment do not constitute operational debts under the Insolvency and Bankruptcy Code, 2016