Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Rejection of section 9 application - initiation of CIRP - ...


Section 9 CIRP Application Rejection Upheld: Adjudicating Authority Lacks Power for Detailed Investigations Under IBC.

May 1, 2023

Case Laws     Insolvency and Bankruptcy     AT

Rejection of section 9 application - initiation of CIRP - Enquiry into such allegations and counter-allegations would entail detailed investigation and the legislative intent of the IBC does not clothe the Adjudicating Authority with such powers of investigation. Thus the Adjudicating Authority has not committed any error by restraining itself from entering into any sort of roving enquiry on this issue. - AT

View Source

 


 

You may also like:

  1. Initiation of CIRP - Period of Limitation - Exclusion of certain period - NCLT rejected the application - The Adjudicating Authority has committed error in rejecting the...

  2. The NCLAT upheld the Adjudicating Authority's rejection of the appellant's prayer to recall the admission order. Regarding withdrawal of CIRP u/s 12A of the IBC, the...

  3. The Appellate Tribunal upheld the Adjudicating Authority's rejection of the Section 9 application filed by the Operational Creditor. The key points are: The Operational...

  4. Appellate Tribunal set aside Adjudicating Authority's order rejecting Section 9 application as defective without issuing notice to rectify defects within seven days as...

  5. The case involves a Section 9 application to determine if payment for ten invoices by the Operational Creditor was time-barred and if a preexisting dispute existed. The...

  6. The NCLAT, an Appellate Tribunal, addressed the issue of maintainability of a section 9 application due to non-fulfillment of the prescribed threshold of Rs.1 crore and...

  7. CIRP - Admissibility of two additional documents - The Appellate Tribunal analyzed the timing of the documents in question. It noted that the arbitration petition and...

  8. Maintainability of section 9 application - Operational credit or not? - In the CIRP what amount Operational Creditor i.e. Appellant is entitled or receives are different...

  9. While permitting withdrawal of Section 9 Application, Adjudicating Authority did not grant liberty to the Appellant to reapproach the Adjudicating Authority in the event...

  10. Initiation of CIRP - NCLT rejected the application of appellant u/s 9 - Period of limitation - The Ld. Adjudicating Authority has taken note of the fact that the Demand...

  11. Initiation of CIRP - Cut of date for deferring IBC provisions due to COVID-19 - Financial Distress or not - The date of the initiation of the CIRP is the date on which a...

  12. Rejection of an application filed u/s 10 of the Insolvency and Bankruptcy Code (IBC) by the Appellant, where the State Bank of India (SBI) had initiated proceedings u/s...

  13. Section 7 application filed by the Financial Creditor was erroneously rejected by the Adjudicating Authority despite debt and default by the Corporate Debtor. The...

  14. Initiation of CIRP - The Adjudicating Authority (NCLT’s) couched with the powers to be exercisable as enshrined in the I&B Code, 2016. For the purpose of entertaining...

  15. Initiation of CIRP - It is well settled that in Section 9 proceedings the Adjudicating Authority is not to enter into final adjudication with regard to existence of...

 

Quick Updates:Latest Updates