Rulings
NCLAT: Term-loan of collusive nature, not ‘financial debt’; Quashes insolvency proceedings against Mack Star
NCLT: Directs CoC, RP to consider ex-promoter’s resolution plan for MSME, subject to EMD
NCLT: Dismisses Haryana Excise Department’s belated application seeking claim admission, absent due diligence
SC: Rejects purported director’s appeal challenging Company name striking-off, absent locus standi
SC: Powers exercisable by CMM/DM u/s 14 of SARFAESI Act doesn’t involve adjudicatory process
IBBI: Suspends IP’s license for appointing related-party without disclosure, not maintaining confidentiality
NCLT: Financial Creditors’ prior CIRP-initiation application pending against MSME prevails over PPIRP petition
SC: Existence of ‘legally enforceable debt’ at time of cheque-encashment must to attract Sec. 138
NCLAT: Operational Creditor’s insolvency application ‘not entertainable’ due to non-fulfillment of Rs. 1 cr. threshold
NCLAT: Operational Creditor’s claim against Contingency Fund cannot be entertained after resolution-plan implementation