Immunity to corporate debtors and their assets, upon approval of ...

Insolvency and Bankruptcy

March 4, 2024

Immunity to corporate debtors and their assets, upon approval of a resolution plan - jurisdiction of NCLT to release the attached properties by invoking Section 32A of the IBC, 2016? - Teh High Court held that the NCLT was within its jurisdiction to direct the ED to release the attached properties, based on the provisions of Section 32A, as it aims to ensure that the approved resolution plan can be effectively implemented. - The court emphasized that once a resolution plan is approved under Section 31 of the IBC, 2016, and meets the criteria for immunity under Section 32A, the attached properties must be released to aid in the revival of the corporate debtor.

View Source

← Previous Next →

Immunity to corporate debtors and their assets, upon approval of ...

Insolvency and Bankruptcy

March 4, 2024

You may also like:

Approval of resolution plan - during the CIRP of ACIL, no valuer was appointed to determine the fair value of the shares held by the the Corporate Debtor. Therefore, the...

Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on...

Validity of approval of resolution plan of corporate debtor - the Resolution plan as approved by the CoC using its commercial wisdom and subsequent approval by the...

Eligibility of ex-promoter/Corporate Debtor u/s 29A read with Section 240A of the IBC to submit a resolution plan claiming the benefits of MSME - rejection of Resolution...

Initiation of CIRP - Guarantor - Extinguishment of debt - The NCLAT upheld the NCLT's decision, finding that ECL did not act as a guarantor for ESL's debts based on the...

Locus Standi of shareholder of the Corporate Debtor to challenge the Resolution Plan - Seeking for forensic audit of the Books of Accounts of the Corporate Debtor, and...

Approval of Resolution Plan - Right of the secured creditor over immovable asset of the Corporate Debtor - Unless the prohibition is imposed, all assets of the Corporate...

CIRP - Physical inspection of plant and machinery of the Corporate Debtor - After approval of the Resolution Plan, Monitoring Committee under the statutory scheme is to...

immunity from Attachment of assets after approval of Resolution Plan - The attachment of assets of the ‘Corporate Debtor’ by the Directorate of Enforcement pursuant to...

Approval of the resolution plan - ascertaining the liquidation value of the Corporate Debtor - The Appellant did not raise any objection regarding assessment of the...

Fresh claim after approval of Resolution Plan - Consequence of Award in the arbitration proceedings - The view of the Supreme Court as crystallized in Essar is that...

Seeking approval of the Resolution Plan - The Resolution Applicant cannot be saddled with any previous claim against the Corporate Debtor prior to initiation of its CIRP....

Approval of Resolution Plan - provision for the payment of Provident Fund dues not made - After approval of the Resolution Plan under Section 31, the claims as provided...

Refusal to entertain the belated claims of Homebuyers as Financial Creditors of the Corporate Debtor - The argument of the Respondents that since CoC has approved the...

Scope of Approval of resolution plan - Allegations of undervaluation of the Corporate Debtor's assets. - Appellant's Locus to Challenge

Quick Updates: