National Company Law Tribunal

26th Mar, 2019

Statutory dues of Income Tax, VAT etc. are Operational Debts under Insolvency and Bankruptcy Code, 2016

The National Company Law Appellate Tribunal has held that statutory dues of income tax, value added taxes etc. are ‘operational debts’ under the Insolvency and Bankruptcy Code 2016. The said ruling was held in […]

14th Sep, 2018

Section 7 (5) and 7 (6) of the Insolvency and Bankruptcy Code 2016 make it clear that for the purpose of admitting an application under Section 7 of the Code, ‘default’ has to be ascertained as on the date of the decision of the adjudicating authority and not at the time of filing of the application.

The said ratio was delivered by the National Company Law Appellate Tribunal in the matter of Core Hotels Ventures Private Limited and Anr. Vs. Bank of Baroda and Anr., Company Appeal (AT) (Insolvency) No. […]

27th Jun, 2017

INSIGHT TO NATIONAL COMPANY LAW TRIBUNAL #legalupdates

The National Company Law Tribunal (NCLT) was established U/s 408 of The Companies Act, 2013. It was constituted on 1st June 2016 i.e. fourteen years after its introduction by amendment in the Companies Act in […]

11th May, 2017

Provisions of Insolvency and Bankruptcy Code regarding time are not mandatory

NCLT in the matter of J K Jute Mills Company Limited Vs Surendera Trading Company; Company Appeal (AT) No. 9 of 2017 compared the prescription of time limit prescribed under Section 7, 9 and 10 […]

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