NCLAT Sets Aside ₹28.64 Cr CIRP Against Land-Holding Firm

Home/Corporate Laws/Parallel Insolvency of Land-Holding Company Incompatible with Supreme Court-Restored Plan: NCLAT Sets Aside ₹28.64 Cr CIRP Corporate LawsLaw Report NCLAT sets aside ETIPL insolvency because Supreme Court lifted the corporate veil, making parallel CIRP incompatible. Get the day’s tax rulings in your inbox × The case number, coram and counsel for this order are…

NCLT Bengaluru Says Govt. Companies Subject To IBC, Admits CIRP Against Karnataka Food Corporation

The Bengaluru Bench of the National Company Law Tribunal (NCLT) on 12 October held that a government company incorporated under the Companies Act cannot claim exemption from insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), merely because it performs public welfare functions. A Bench comprising Judicial Member Sunil Kumar Aggarwal and Technical Member…