Meat works sold after liquidation

Liquidation

A meat works in Gore, previously home to a Japanese Wagyu beef operation which went into liquidation late last year, has been sold. The works went up for sale in February just a matter of weeks after companies associated with the operation went into liquidation. Black Origin Meat Processors (Gore) Ltd was put into liquidation…

Adjudicating Authority Cannot Suo Moto Amend Date Of Default In Insolvency Application Unless Amendment Application Is Filed: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that the Adjudicating Authority cannot suo moto amend the date of default mentioned in the insolvency application unless an amendment application is filed; otherwise, it would…

Liquidation Order U/S 33 Of IBC Cannot Be Set Aside When Third Party Has Taken Possession Of Property After Sale Conducted By Liquidator: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Jatindranath Swain (Technical Member) has held that the order passed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (Code), directing the liquidation of the corporate debtor, cannot be set aside once the Successful Auction Purchaser…

NCLT rejects insolvency plea against Zomato

Liquidation

Nona Lifestyle had entered into a business relationship with Zomato to supply uniforms for its employees and delivery partners, including merchandise for the ICC World Cup 2023. The company had planned a campaign during the World Cup.  As per the petition, Zomato placed multiple orders for various apparel items, including rider t-shirts, trousers and World…