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Home Highlights July 2023 Year 2023 This

Validity of admission of application for initiation of CIRP - ...

Insolvency and Bankruptcy

July 22, 2023

Validity of admission of application for initiation of CIRP - Prayer for intervention in the Appeal - One Time Settlement (OTS) proposal submitted by the Corporate Debtor before the UCO Bank - The impugned order admitting Section 7 Application was an order, which cannot be faulted in law - In event of a settlement accepted by the Bank, the Bank is permitted to file an application through IRP to close the CIRP. - AT

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  1. Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

  2. Corporate Insolvency Resolution Process - The presence of an arbitration clause in the share purchase agreement would not cause any impediment with regard to initiation...

  3. Corporate Insolvency Resolution Process - mala fide intention - the corporate applicant filed the application with mala fide intention and with ulterior motive for...

  4. Corporate Insolvency Resolution Process - consortium finance - Application by lead banker - no bar for the applicant to approach this Hon'ble Tribunal for initiating...

  5. Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a...

  6. Initiation of insolvency resolution of a personal guarantor of the Corporate debtors - The law doesn't envisage that the insolvency resolution of the personal guarantor...

  7. Admission of section 7 application - financial debt owed by the Corporate Debtor or not - Home Buyers - The application was filed by respondents, who were allottees in a...

  8. External Commercial Borrowings (ECB) Policy – ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process

  9. Maintainability of application - initiation of CIRP - While a written contract cannot be treated as a pre-requisite to proving the existence of financial debt, the...

  10. Approval of resolution plan - Amendments in the Regulation 39 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons)...

 

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