The National Company Law Appellate Tribunal (NCLAT), Principal Bench in New Delhi, has dismissed a plea filed by the SREI Multiple Asset Investment Trust (SMAIT), which sought to be impleaded in an ongoing insolvency appeal tied to a hefty ₹1300 crore CorporateInsolvency Resolution Process (CIRP) cost dispute. The Trust, which claimed to have held a…
The recent Supreme Court ruling in JSW Steel Ltd. v. Pratishtha Thakur Haritwal & Ors. has sent shockwaves through India’s corporate and legal landscapes. The Court’s decision to quash demand notices issued against JSW Steel by government authorities marks a pivotal moment in enforcing the finality of insolvency resolution plans under the Insolvency and Bankruptcy…
The National Company Law Appellate Tribunal (NCLAT) has upheld the National Company Law Tribunal’s (NCLT) decision dismissing an insolvency application filed under Section 9 of the Insolvencyand Bankruptcy Code, 2016 (IBC) by Morex Corporation Limited against Jindal Poly Films Ltd. The appellate tribunal found the existence of a genuine pre-existing dispute between the parties regarding…
Popular mattress retailer files Chapter 7 bankruptcy liquidation TheStreet Read the original article here
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Then, in June this year, the firm announced a further 2624 customers had received $50m in Bitcoin and Dogecoin. It was also preparing to launch distributions to affected customers to qualifying account holders in Cardano, Tether, Tron and Litecoin currencies. Cryptopia, founded by Adam Clark and Rob Dawson, owed IRD more than $19m and a…
Control over the Ally Fashion business has been returned to the company’s director, David Dai, following a lengthy appeal process that ended with creditors accepting a deed of company arrangement (DOCA). Four months ago, the Federal Court of Australia forced Ally Fashion into liquidation following an application by a landlord for rent arrears. The court…
The Insolvency and Bankruptcy Board of India (IBBI) has dismissed two RTI appeals filed by appellant, who had sought detailed clarifications on provisions of the Insolvency and Bankruptcy Code (IBC) relating to ongoing insolvency proceedings. Jitendar Sood had approached the IBBI with two separate appeals, both arising from responses received from the Central Public Information…
The Mumbai Bench of the National Company Law Tribunal (NCLT) has admitted a Section 7 insolvency application filed by DSM Projects Private Limited against A.N. Enterprises Infrastructure Services Private Limited over a default exceeding ₹98 crore. The case arose from a loan agreement dated September 6, 2017, under which DSM Projects disbursed ₹63 crore to…