Rulings
NCLT: Dues arising out of money-suit decree doesn’t qualify as ‘operational debt’ under IBC
NCLT: Creating charge on Corporate Debtor’s property during CIRP, violates IBC moratorium
NCLAT: Single-member NCLT bench empowered to adjudicate share-capital reduction matter remanded by NCLAT
HC: Quashes Arbitral award virtually allowing a principal claim by way of ‘interim measure’
NCLAT: Upholds NCLT order dismissing Wave Megacity’s Sec. 10 application, citing fraudulent CIRP initiation
HC: Decretal-amount deposited in Trial Court by RCom before CIRP, unaffected by IBC moratorium
NCLAT: IBC liquidation-initiation provision not inconsistent with Sec. 11B of Central Excise Act
SC: Borrower required to deposit 50% debt due while filing SARFAESI-appeal before DRAT
SC: Onus on Borrowers to prove secured-properties are ‘agricultural land’ for availing exemption under SARFAESI
NCLT: Cancels Corporate-Debtor’s sale as “going concern”, directs Liquidator to conduct fresh auction