Initiation of CIRP - Going Concern - Even when a going concern ...

Insolvency and Bankruptcy

April 1, 2022

Initiation of CIRP - Going Concern - Even when a going concern is unable to discharge its debt, the Operational Creditor is entitled to invoke Section 9, hence, the Application filed by Operational Creditor under Section 9 cannot be said to be non-maintainable on the ground that Corporate Debtor is a going concern - there are no substance in any of the submission of the learned Counsel for the Appellant - AT

View Source

← Previous Next →

Initiation of CIRP - Going Concern - Even when a going concern ...

Insolvency and Bankruptcy

April 1, 2022

You may also like:

Wages/salaries of the workmen/employees during the CIRP period - There are disputed questions, whether in fact the IRP/RP managed the operations of the corporate debtor...

Initiation of CIRP - transaction of Financial Debt or not - Loan taken by the Corporate debtor from the sister concern was assigned by the said sister concern to the...

Initiation of CIRP - The Petitioner has approached this forum only for recovery. He has not made out any case that the Corporate Debtor is insolvent and unable to repay...

Initiation of CIRP - Insurance Company has made payment to the Operational Creditor of its claim - third party liability - Liability of Corporate debtor to discharge its...

Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as...

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...

Liquidation and appointment of Liquidator - Liquidator will ensure that ‘Corporate Debtor’ remains a going concern - directed to approach the Union of India through the...

Initiation of CIRP - Financial debt or not - application dismissed by the NCLT - The definition of debt and default which is the only thing required for the purpose of...

Admissibility of application - initiation of CIRP - Having made the payment prior to initiation of CIRP, we are of the view that the case of the Respondent/Applicant...

Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -...

Initiation of CIRP - Since Adjudicating Authority has not relied upon the “confirmation and undertaking” and has come to a conclusion that there is a debt and default...

Initiation of CIRP - The debt has been defined in Section 3(11) means a liability or obligation in respect of a claim which is due from any person and includes a...

Maintainability of application - initiation of CIRP - scope of the term goods or services under the code - The debt arising out of non-payment of lease rent does not...

Closure of liquidation process - sale of the Corporate Debtor as a going concern - It is no longer Res Integra that while approving a ‘Corporate Debtor’ sale as a ‘going...

Exemption form GST on the business transfer undertaken - transfer of a going concern - transfer of a going concern means transfer of a running business which is capable...

Quick Updates: