Big relief to Anil Ambani in Rs 920000000 case, NCLAT stays insolvency proceedings against…, after full payment to…

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Home Business Big relief to Anil Ambani in Rs 920000000 case, NCLAT stays insolvency proceedings against…, after full payment to… IDBI Trusteeship had moved NCLT against Anil Ambani’s Reliance Infrastructure, but now NCLAT stays insolvency proceedings against the company. Anil Ambani (File) Reliance Infrastructure Ltd announced on Friday that the appellate tribunal NCLAT has halted…

Paying “Advance” Against Property Is A Commercial Transaction, Qualifies As Financial Debt U/S 5(8)(f) IBC: NCLT New Delhi

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The National Company Law Tribunal, New Delhi Bench-IV, comprising Manni Sankariah Shanmuga Sundaram (Member-Judicial) and Atul Chaturvedi (Member-Technical), has admitted an application u/s 7 of the IBC seeking initiation of the CIRP against the corporate debtor. The tribunal held that the amount advanced against property can be treated as a “financial debt” u/s 5(8) of…

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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. 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…

[Reverse CIRP] NCLAT Closes CIRP Against Grand Reality Under Its Inherent Powers Upon Handover Of Flats To Homebuyers & Satisfaction Of Claims

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The National Company Law Appellate Tribunal (NCLAT), New Delhi bench comprising Justice Yogesh Khanna (Judicial Member) and Mr. Indevar Pandey (Technical Member) exercising its inherent powers under Rule 11 of the NCLAT Rules, 2016, has closed the Corporate Insolvency Resolution Process (“CIRP”) against Grand Reality Pvt. Ltd. through the ‘Reverse CIRP’ mechanism. The project was…