National Company Law Appellate Tribunal

7th Dec, 2018

Dispute raised for first time in reply about quality of goods will not constitute preexisting dispute about operational debt under Insolvency and Bankruptcy Code, 2016

The National Company Law Appellate Tribunal has held that a dispute raised for the first time in reply to demand notice or in response to Adjudicating Authority regarding quality of goods will not amount to […]
18th Oct, 2018

Territorial jurisdiction for instituting proceeding before NCLT will be as per the registered office of the corporate debtor.

The Ld. National Company Law Appellant Tribunal while interpreting Sub-section (1) of Section 60 of the Insolvency and Bankruptcy Code, 2016 (I&B Code 2016), held that NCLT where the registered office of the corporate debtor […]
11th Oct, 2018

An application by Operational Creditor can be made either in individual capacity or joint capacity.

The Ld. National Company Law Appellant Tribunal further observed that where workmen/employees are ‘Operational Creditors’, the application may be made either by an ‘Operational Creditor’ in an individual capacity or as a joint capacity by […]
20th Sep, 2018

No decision of Committee of Creditors can be made effective without getting minimum 75% of voting share.

As per Section 21 (8) of the Insolvency and Bankruptcy Code 2016, all decisions of the ‘committee of creditors’ are required to be taken by a vote of not less than 75% of the voting […]
19th Sep, 2018

Petition filed under Section 7 of I&B Code 2016 cannot be defeated upon the ground of appointment of arbitrator.

The ground for appointment of arbitrator cannot be taken as a ground in defeating an application under Section 7 of the Insolvency and Bankruptcy Code 2016 though it is permissible to take such a ground […]
17th Sep, 2018

Under Companies Act 2013, the Tribunal can pass interim orders with respect to the conduct of the company’s affairs.

It was held by the National Company Law Appellate Tribunal that under Section 241 read with Section 242 of the Companies Act 2013, the Tribunal is empowered to pass interim order in a petition for […]