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In a significant ruling, the National Company Law Appellate Tribunal (NCLAT), Chennai, has invoked its supervisory power of Tribunal under section 231 and granted a final 60-day extension to implement the arrangement scheme under sections 230-232 of the Insolvency and Bankruptcy Code (IBC) 2016. The Tribunal quashed the cancellation of the Scheme of Arrangement earlier…
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The Calcutta High Court has quashed a ₹4.28 crore Goods and Services Tax (GST) demand raised for the financial year 2019–20 against a corporate debtor (CD) sold in liquidation as a going concern, reaffirming the IBC’s “clean slate” principle. The company, M/s Rabirun Vinimay Pvt. Ltd., after failing to achieve resolution under the Corporate Insolvency…
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Indian Masterminds Stories New Delhi: NTPC Limited has announced that the National Company Law Tribunal (NCLT), Delhi Bench, has approved the Resolution Plan jointly submitted by NTPC and Maharashtra State Power Generation Company Limited (MAHAGENCO) for the revival of Sinnar Thermal Power Limited (STPL). The approval marks a significant step forward in the Corporate Insolvency…
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To use this website, cookies must be enabled in your browser. 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 making requests to websites without cookies that had previously been set. This appears to be a…
To use this website, cookies must be enabled in your browser. 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 making requests to websites without cookies that had previously been set. This appears to be a…