The National Company Law Tribunal (NCLT) Kochi bench of Madhu Sinha (Member Technical) and Vinay Goel (Member Judicial) has held that past liabilities incurred before the execution of the Agreement of Guarantee cannot be included in it unless an explicit clause covering such liabilities are explicitly incorporated in the Agreement. The present petitions have been…
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Nanogirl Labs: Business failure ‘devastating’, say founders Stuff Read the original article here
A COMPANY involved in a fatal parachute jump on the Blackdown Hills above Wellington has closed without notice and said it was to be compulsorily liquidated by the Official Receiver. A parachute used in a tandem jump at Dunkeswell Aerodrome by skydiving instructor Adam Harrison, aged 30, and mother of four Belinda Taylor, aged 48,…
Indian Institute of Corporate Affairs( IICA ) Launches 7th Batch of Postgraduate Insolvency Programme with Legal Luminaries PIB Read the original article here
The National Company Law Appellate Tribunal held that a claim filed during liquidation must be dealt with as per the waterfall mechanism under Section 53 of the Insolvency and Bankruptcy Code, 2016, and the NCLT cannot direct a Liquidator to make payment to any claimant directly. Justice Ashok Bhushan and Arun Baroka said: “We are…
The National Company Law Tribunal (NCLT) Indore bench of Shammi Khan (Judicial Member) and Sanjeev Kumar Sharma (Technical Member)has held that the Adjudicating Authority is not empowered to adjudicate disputes relating to auction sale of the property which does not form part of the Corporate Debtor’s assets. The present application has been filed under section…
Disability employment provider Bedford to go into voluntary administration MSN Read the original article here
Australia’s second largest disability employer to go into administration MSN Read the original article here
The National Company Law Tribunal (NCLT) Kochi bench of Smt. Madhu Sinha (Technical Member) and Shri. Vinay Goel (Judicial Member) has held that mere possession over assets of the Corporate Debtor under section 13(8) the SARFAESI Act does not confer any title on the Creditor. A title over the property passes to the purchaser only…