Initiation of CIRP u/s 7 - NCLT / NCLAT admitted the application ...

NCLT and NCLAT Admit CIRP Application u/s 7; Limitation Argument Rejected, Debt Acknowledged by One-Time Settlement Request.

October 20, 2023

Case Laws Insolvency and Bankruptcy SC

Initiation of CIRP u/s 7 - NCLT / NCLAT admitted the application - time limitation - A request for one time settlement (OTC) was made - The NCLT treated this letter to be an acknowledgement of debt - The argument of the appellant about maintainability of the application out of which this appeal arises on the ground of the application being barred under limitation, is not satisfying. The application with respect to the two recovery certificates issued in the year 2017 is maintainable. - SC

View Source

← Previous Next →

Initiation of CIRP u/s 7 - NCLT / NCLAT admitted the application ...

NCLT and NCLAT Admit CIRP Application u/s 7; Limitation Argument Rejected, Debt Acknowledged by One-Time Settlement Request.

October 20, 2023

Case Laws Insolvency and Bankruptcy SC

You may also like:

Maintainability of application u/s 7 - time limitation - The Appellate Tribunal referenced recent Supreme Court judgments, affirming that a liability arising from a...

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

Initiation of CIRP - NCLT admitted the application - Power of NCLT to refuse the application - Refusal of banks to extend the Bank Guarantees of the Corporate debtor - ,...

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...

Initiation of CIRP - NCLT rejected the application u/s 7 - The Corporate Debtor had accepted before the AA that it is not in a position to repay `debt’ because of...

Initiation of CIRP - pre-existing dispute or not - NCLT rejected the application - NCLAT allowed the application admitting the additional evidences - the impugned order...

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...

NCLAT dismissed the contempt application against adjudicating authority. It held no contempt was committed in admitting section 7 application against corporate debtor's...

Admissibility of Section 7 application - Application is within the period of Limitation or not -The entire correspondence and the OTS proposals between the parties from...

Section 7 application rejected as barred by Section 10A of IBC. Supreme Court held no bar in amending pleadings or filing additional documents u/s 7, but present case...

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...

Corporate debtor filed a reply to the financial creditor's Section 7 application in December 2023, but moved an application u/s 8 for reference to arbitration only on...

Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

Initiation of CIRP u/s 7 of the IBC - financial debt or not - Period of limitation - Advance paid subject to execution of the share purchase agreement - NCLT rejected...

Validity of order of NCLT admitting the application for CIRP - Although, pendency of winding-up petition before the High Court may not preclude filing of Section 7...

Quick Updates: