Jurisdiction of NCLT to levy fine u/s 235A of IBC - When the ...

NCLT Can't Impose Fines for Moratorium Breaches; Offenses Require Section 236 Procedure Under IBC.

February 7, 2022

Case Laws Insolvency and Bankruptcy AT

Jurisdiction of NCLT to levy fine u/s 235A of IBC - When the allegation of Resolution Professional was that Appellant has contravened the Moratorium there was allegation of commission of an offences on which punishment could have been awarded after following the procedure under Section 236. An act which is termed as offence within specific provision of Chapter VII of Part-II could not have been indirectly dealt with by the Adjudicating Authority by imposing a fine - AT

View Source

← Previous Next →

Jurisdiction of NCLT to levy fine u/s 235A of IBC - When the ...

NCLT Can't Impose Fines for Moratorium Breaches; Offenses Require Section 236 Procedure Under IBC.

February 7, 2022

Case Laws Insolvency and Bankruptcy AT

You may also like:

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...

Interim-moratorium u/s 96 IBC applies to proceedings against petitioner u/s 138 NI Act. HC set aside revisional court order, allowed petition directing stay on Section...

Compounding of offence under Section 266G of the Companies Act, 1956 - on facts, the nature of offence which the company has charged does not invite with imprisonment or...

Validity of demand of duty as per precondition of re-export for violation of Advance Authorization Scheme - Petitioner was before NCLT in CIRP and moratorium was...

The SC held that penalties imposed by the NCDRC are regulatory in nature and do not constitute "debt" under the IBC. The moratorium under Section 96 of IBC does not...

Whether Tribunal (NCLT) can impose the compounding fees u/s 441(1) of the Act, less than minimum prescribed for the offence u/s 165 (1) read with Section 165(6)? - the...

Compounding of offences - default in holding Annual General Meeting the company (AGM) - NCLAT has mainatined the order of NCLT where the said fine was reduced to the...

NCLAT overturned NCLT's perjury conviction and fine against appellants for incorrect Form 18 declaration to ROC during company-to-LLP conversion. While appellants...

Offences triable by Special Court - offences other than the Companies Act i.e. under the IBC Act - The Supreme Court held that the IBC is a complete code in itself and...

Maintainability of revenue appeal against the order of CIT(A) granting relief to assessee - When NCLT has declared moratorium u/s 14 of IBC Code in the case of assessee,...

CIRP - Home Buyers - Moratorium against the company has been ordered - The Supreme Court's decision in this case clarifies that the moratorium u/s 14 of IBC does not...

The impact of imposing penalty and purpose of reduced penalty not fulfilled - deterring the appellant from repeating the offence - Continued violation of policy...

Dishonour of Cheque - Quantum of sentence / Fine - The sentence is optional, either it may be imprisonment for two years or fine which may be twice amount of the cheque...

Dishonor of Cheque - insufficiency of funds - Proceedings under IBC versus offence under the NI Act - for the period of moratorium, since no Section 138/141 proceeding...

Under the Insolvency and Bankruptcy Code (IBC), the Corporate Insolvency Resolution Process (CIRP) was initiated against the first petitioner-company, and a moratorium...

Quick Updates: