Power purchasing agreement cannot be terminated if power company goes into insolvency
Can a Power Purchasing Agreement (PPA) signed by a distribution company be terminated once the power generation company goes into...
Court Order
How a 30-year-old property deal involving a DLF subsidiary landed in insolvency tribunals in 2020
A dispute arising out of a property deal in 1989 landed up in insolvency tribunals in 2020. Is this a...
NCLAT dismisses insolvency proceedings after doubts over financial creditor
An insolvency application under Section 7 of the Insolvency and Bankruptcy Code (IBC) admitted by the National Company Law Tribunal...
Increased default limit for triggering insolvency not applicable retrospectively: NCLAT
The Central Government’s notification dated 24 March 2020 enhancing the minimum amount of default limit from Rs one lakh to...
Unpaid lease rentals qualify as operational debt under IBC, rules NCLAT
Should lease rentals dues arising from the ‘Leave and Licence Agreement’ be categorized as an operational debt under the Insolvency...
NCLT dismisses Customs Dept’s plea against Jyoti Structures resolution plan
The National Company Law Tribunal (NCLT) has dismissed the plea of customs department to revoke the resolution plan of Jyoti...
NCLAT dismisses plea to withdraw resolution plan for Astonfield Solar (Gujarat)
The big point of law that is being put to test under the Insolvency and Bankruptcy Code (IBC) is whether...
Suraksha ARC withdraws ‘approved’ resolution plan due to delay in legal processes
Suraksha Asset Reconstruction Ltd (Suraksha ARC), an asset reconstruction company, has withdrawn its resolution application for corporate debtor Wind World...
No justice for operational creditors under IBC framework
The National Company Law Appellate Tribunal (NCLAT) has admitted that operational creditors, who are aggrieved at the step-motherly treatment meted...
Loan converted into equity not to be termed as financial debt under IBC: NCLAT
The National Company Law Appellate Tribunal (NCLAT) has recently pronounced a judgment saying that once the debt is converted into...