Venus Garments: NCLAT Affirms Liquidator’s Authority to Evict Related-Party Tenants from Corporate Debtor’s Properties, ETCFO

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) said that a liquidator of a company can recover possession of a corporate debtor‘s assets from occupants directly through the NCLT, without resorting to rent-control proceedings. A two-member bench of the appellate tribunal has dismissed appeals by two Ludhiana-based firms — Duke Fashions and UV&W Products…

Alleged Collusion Between Financial Creditor and Corporate Debtor: NCLAT Directs NCLT to Consider Third-Party Plea [Read Order]

The Mumbai Bench of the National Company Law Appellate Tribunal (NCLAT) directed the National Company Law Tribunal (NCLT) to consider a third party intervention plea for alleged collusion between the financial creditor and the corporate debtor in a Section 7 insolvency proceedings. Sant Eknath Co-operative Sugar Factory Ltd. was not a party to the Section…