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Sale as 'Going Concern' in Liquidation is Akin to CIRP, Grants 'Clean Slate' from Past Liabilities: NCLT Kolkata
NCLT CleanSlateDoctrine Insolvency
NCLT Kolkata Grants 'Clean Slate' to Buyer in Going Concern Sale, Extinguishes Past Liabilities of Corporate Debtor Kolkata, India– The National Company Law Tribunal (NCLT), Kolkata Bench, has delivered a significant order reinforcing the "clean slate" doctrine for companies acquired as a 'go...
Selective Capital Reduction Permissible 'In Any Manner' Under S.66 of Companies Act If Fair & Non-Prejudicial to Creditors: NCLT Mumbai
#NCLT #CapitalReduction #CompaniesAct2013
NCLT Mumbai Approves Upwards Fintech's Selective Share Capital Reduction, Citing Fairness and Shareholder Approval Mumbai, India- The National Company Law Tribunal (NCLT), Mumbai Bench, comprising Judicial Member Mohan Prasad Tiwari and Technical Member Charanjeet Singh Gulati, has approved t...
Mortgage to Secure Group Company's Loan Isn't 'Financial Debt' Under IBC Sec 5(8) Without an Explicit Guarantee: NCLT
#IBC #NCLT #FinancialDebt
NCLT Rejects ARCIL's ₹1,279 Crore Claim as 'Financial Debt', Upholds Distinction Between Mortgage and Guarantee Mumbai | September 9, 2025– The National Company Law Tribunal (NCLT), Mumbai Bench, has delivered a significant ruling clarifying the scope of 'financial debt' under the Insolvency ...
Del Credere Agent Who Paid Principal For Corporate Debtor’s Default Can Initiate CIRP U/S 9 IBC: NCLT Kolkata
#NCLT #IBC2016 #DelCredereAgent
NCLT Admits Insolvency Plea by Del Credere Agent, Cites Right to Recover Dues Paid on Behalf of Debtor Kolkata:The National Company Law Tribunal (NCLT), Kolkata Bench, comprisingSmt. Bidisha Banerjee (Judicial Member)andCmde. Siddharth Mishra (Technical Member), has admitted a petition to ini...
Mortgage vs. Guarantee: Covenants in Loan Agreements are Crucial to Establish 'Financial Debt' under IBC S.5(8): NCLT Mumbai
#NCLT #Insolvency #FinancialDebt
NCLT Mumbai Clarifies When a Mortgage Becomes a Guarantee, Partially Admits ARCIL's ₹751 Crore Claim In a nuanced ruling, the National Company Law Tribunal (NCLT) Mumbai Bench dissected several loan and mortgage agreements to distinguish between a simple third-party security and a contract of...
Application based on rectified default is defective; cannot initiate CIRP on incorrect default date: NCLT Mumbai
#NCLT #IBC2016 #Insolvency
NCLT Mumbai Dismisses Insolvency Plea Against Gensol EV, Cites Incorrect Default Date Mumbai:The National Company Law Tribunal (NCLT), Mumbai Bench, has dismissed a petition filed by Vivriti Capital Limited to initiate insolvency proceedings against Gensol Electric Vehicles Private Limited, r...
Uninvoked Guarantee Constitutes a 'Claim'; Resolution Professional Cannot Unilaterally Reject an Admitted Claim: NCLT Mumbai
Insolvency CorporateGuarantee NCLT
NCLT Mumbai Rules Claim on Uninvoked Guarantee Admissible, Curbs Resolution Professional's Power to Reverse Decisions Mumbai:In a significant ruling, the National Company Law Tribunal (NCLT), Mumbai Bench, has held that a claim arising from an uninvoked corporate guarantee is admissible in an...
Petition under S. 241/242 Companies Act Barred by Estoppel & Res Sub Judice Due to Parallel High Court Proceedings: NCLT New Delhi
OppressionAndMismanagement NCLT CompanyLaw
NCLT Dismisses Oppression Petition Against M.G. Buildmart, Cites Parallel Proceedings in High Court New Delhi:The National Company Law Tribunal (NCLT), New Delhi Bench, has dismissed a petition alleging oppression and mismanagement in the affairs of M.G. Buildmart Pvt. Ltd., ruling it non-mai...
NCLT Orders Meetings for Cultfit Group's Complex Restructuring Scheme Under Sections 230-232 of Companies Act
#NCLT #CorporateRestructuring #Cultfit
NCLT Greenlights Next Step in Cultfit's Corporate Overhaul, Orders Creditor and Shareholder Meetings CHENNAI:The National Company Law Tribunal (NCLT), Chennai Bench, has allowed an application filed by Cultfit Healthcare Private Limited and its associated companies, paving the way for a compl...
NCLT Greenlights Merger of Loss-Making IT Firms Enhops and Proarch, Citing Long-Term Synergies Despite Financial Setbacks
NCLT MergersAndAcquisitions CorporateLaw
NCLT Sanctions Merger of Enhops Solutions and Proarch IT, Citing Strategic Rationale Despite Both Firms Being Loss-Making Hyderabad, Telangana– The National Company Law Tribunal (NCLT), Hyderabad Bench, has officially sanctioned the scheme of amalgamation between Enhops Solutions Private Limi...
