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Appellate tribunal NCLAT has upheld the decision of the National Company Law Tribunal (NCLT) to recall a previous ruling for an insolvency case against real estate firm Logix Infrastructure after finding the debt claim as “fraudulent” and “malicious”. A two-member NCLAT bench said the plea for CIRP (Corporate Insolvency Resolution Process) against Logix Infrastructure, which…
NCLAT upholds order recalling insolvency case against Logix Infra MSN Read the original article here
To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…
In a recent case, the Cuttack bench of the National Company Law Tribunal(NCLT) admitted the application of IDBI Bank filed under section 7 of the Insolvency and Bankruptcy Code,2016 (IBC) as the Corporate Debtor acknowledged the one-time Settlement (OTS) on due debt within period of limitation. IDBI Bank Limited, the applicant, filed the application through…
NCLAT upholds NCLT order recalling insolvency case against Logix Infra, citing fraudulent debt claim and collusion between parties. New Delhi, Sep 13 (PTI) Appellate tribunal NCLAT has upheld the decision of the National Company Law Tribunal (NCLT) to recall a previous ruling for an insolvency case against real estate firm Logix Infrastructure after finding the…
Starleaton went into liquidation yesterday, with creditors informed in a statement titled ‘General Update on the Deed of Company Arrangement’ issued by Simon Cathro and Andrew Blundell from Cathro & Partners. Here’s a timeline of movements since the company entered into voluntary administration in January last year: 19 January 2024: Starleaton surprises the industry entering…
How People Are Using ChatGPT for Financial Advice The New York Times Read the original article here
The case involved four consolidated appeals relating to two real estate companies – Gayatri Infra Planner Private Limited and Antriksh Infratech Pvt. Ltd. Appellant Mansi Brar Fernandes had entered into a Memorandum of Understanding dated April 6, 2016, paying Rs. 35 lakh for four flats with a buyback clause that would return Rs. 1 crore…
Abu Dhabi: A man’s bid to be declared insolvent over debts of nearly Dh1.5 million has been dismissed by the Abu Dhabi Civil Family Court after judges ruled he failed to provide sufficient evidence of losing his assets. Court records show the petitioner sought insolvency proceedings, claiming he had ceased commercial activity, was unemployed, and…