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The Supreme Court has held that under the Insolvency and Bankruptcy Code, 2016 (“IBC”), once the Resolution Plan stands approved by the National Company Law Tribunal (NCLT), the Electricity Department...
The matter was listed for hearing on Tuesday before the insolvency tribunal, however, it has now been adjourned to September 26. The NCLT said the Supreme Court on the plea filed by Torrent has 'abundantly' made it clear that it would be kept in abeyance until the parties have had an opportunity to obtain circulation and interim orders of stay in the proceedings.
The Supreme Court on Monday said that admitting claims after the Resolution Plan has been accepted by the Committee of Creditors (COC) under Insolvency and Bankruptcy Code, 2016 (IBC) even though the...
Article 299 - No immunity from statute merely because a contract is entered in the President's name. Glock Asia-Pacific Ltd. v. Union of India, 2023 LiveLaw (SC) 459 : AIR 2023 SC 2777 : 2023 INSC...
Some banks are opposed to taking up the resolution plan submitted by SpaceMantra as it is too close to the liquidation value, while some others are inclined to accept the only offer on the table. Voting was supposed to end on Thursday but has now probably been extended until September 15, people familiar with the process said.