Jul 312 minDespite the Company’s Earlier Strike-off, the NCLAT Confirms the Validity of the Resolution PlanDespite the company’s earlier strike-off, the NCLAT confirmed the validity of the Resolution Plan. The NCLAT reiterated that even...
Jul 302 minCIRP Costs cannot Include Costs Associated with Terminated Projects that do not Contribute to the Ongoing Viability of the Corporate DebtorNCLAT held that the CIRP costs cannot include costs associated with terminated projects that do not contribute to the ongoing viability...
Jul 302 minNCLAT Determines Commissioner of State Tax Department's Claims are Appropriately Classified as UnsecuredNCLAT determines that the Commissioner of State Tax Department's claims are appropriately classified as unsecured. The National Company...
Jul 292 minFailure of a One Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of the IBCNCLAT held that failure of a One-Time Settlement (OTS) cannot reset the default date and does not preclude proceedings under Section 7 of...
Jul 292 minRelated parties do not have a legal right to be treated on par with unrelated financial creditors in a resolution planNCLAT held that the related parties do not have a legal right to be treated on par with unrelated financial creditors in a resolution...