CIRP proceedings - Fraudulent activity on the part of Corporate ...

Corporate Debtor's Fraud in CIRP Uncovered via Emails; Ineligible for Further Payments Due to Purchase Order Violations.

June 14, 2021

Case Laws Insolvency and Bankruptcy Tri

CIRP proceedings - Fraudulent activity on the part of Corporate Debtor - the e-mail communications being exchanged between the parties, it is seen that the Corporate Debtor has acted in violation of the terms and conditions of the purchase order and as such the Corporate Debtor is not entitled for any further payment to be made by the Respondent in this regard as claimed in the Application. - Tri

View Source

← Previous Next →

CIRP proceedings - Fraudulent activity on the part of Corporate ...

Corporate Debtor's Fraud in CIRP Uncovered via Emails; Ineligible for Further Payments Due to Purchase Order Violations.

June 14, 2021

Case Laws Insolvency and Bankruptcy Tri

You may also like:

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...

Corporate insolvency resolution process (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

Non-payment of arrears dues of GST for the period prior to commencement of CIRP - net GST liability from the date of commencement of CIRP - Revenue directed to allow the...

The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

The Appellate Tribunal held that the Annual Mine Closure Cost (AMCC) deposited by the Corporate Debtor in an Escrow Account belongs to the Corporate Debtor and cannot be...

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...

NCLAT set aside the NCLT's order admitting the Corporate Debtor into CIRP. Though the application was filed within the limitation period (within three years of the last...

CIRP initiated against the Corporate Debtor terminated upon reaching full and final settlement with the Operational Creditor who filed Section 7 application. Quantum of...

The NCLT had directed the release of an industrial promotion subsidy claim amount to the Corporate Debtor, which was sanctioned prior to the commencement of CIRP. The...

CIRP - dues of EPF - The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the...

NCLAT upheld NCLT's decision to admit Corporate Debtor into CIRP under Section 7 of IBC, 2016. The Corporate Debtor's challenge regarding improper notice service was...

The NCLAT dismissed the appeal and upheld the Adjudicating Authority's order admitting the Operational Creditor's application for initiating CIRP against the Corporate...

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

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...

The NCLAT dismissed the appeal and upheld the NCLT order, ruling that u/s 14 of the IBC, 2016, a security deposit lying with a third party cannot be adjusted against...

Quick Updates: