CIRP - Seeking directions to be issued to the Directors of the ...

Case Laws Insolvency and Bankruptcy

May 11, 2022

CIRP - Seeking directions to be issued to the Directors of the Corporate Debtor/the Appellants herein to make good the losses caused on account of the fraudulent transactions entered into by them - The debts written off to defraud the Creditors, the cash transaction post their resignation evidencing their financial control in the affairs of the ‘Corporate Debtor’, clearly establish that they are ‘fraudulent transactions’ done with a wilful intention of financial gain at the cost of negatively effecting the Creditors - AT

View Source

← Previous Next →

CIRP - Seeking directions to be issued to the Directors of the ...

Case Laws Insolvency and Bankruptcy

May 11, 2022

You may also like:

Seeking to release the attachment of the tiles relating to the Corporate Debtor - Attachment of goods by the GST department before initiation of CIRP - The assets, which...

Inclusion of the Appellant in the Committee of Creditors (CoC) and also to provide voting rights to the Applicant/ Appellant - The appellant, a foreign financial lender,...

Ex-parte order - Principles of Natural Justice - When Corporate Debtor is a Company where there are more Directors rather than only one as can be seen from the Balance...

CIRP - Application by the RP to protect the assets of Corporate Debtor - When according to the applicant himself there was no asset of the corporate debtor, and the...

Seeking refund of money equivalent to the Bank Guarantees invoked - What does not belong to the ‘Corporate Debtor’ cannot be sought to be refunded back to the ‘Corporate...

The NCLT/NCLAT could have exercised jurisdiction under section 60(5)(c) of the IBC to stay the termination of the PPA by the appellant, since the appellant sought to...

Power of NCLT where CIRP stayed - Validity of Direction to the Resolution Professional to immediately handover the management of the Corporate Debtor to the...

Rejection of the simultaneous claim by the Resolution Professional of the Corporate Debtor - Claim filed by the Applicant with respect to the corporate guarantee given...

CIRP - bonafide nature of the transactions or not - recovery from the ex-directors of the corporate debtor - forensic and transaction audit of the corporate debtor was...

Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing...

CIRP - Belated claim pertaining to arbitral Award - The appellant is a commercial entity. That they were litigating against the Corporate Debtor is an undoubted fact. We...

Seeking withdrawal of the CIRP proceedings - in the Terms of Settlement dated 21.04.2022, in Clause 12, it was mentioned that because of the Settlement, the...

Challenge to direction that entire cost be paid by the Applicant/Appellant - Admission of CIRP set aside - Corporate Debtor was NBFC - NCLAT observed that, in a...

Initiation of CIRP - Failure to pay outstanding salary dues to the employees - Operational Creditor has not received his dues from the Corporate Debtor and the...

CIRP Proceedings - Resolution plan - seeking directing to form a consolidated ‘Committee of Creditor’ (CoC) of the Corporate Debtor alongwith ‘parent company’ and the...

Quick Updates: