Back
judgement
Subject : Corporate Insolvency
The article reports on four appeals filed by the Suspended Director of the Corporate Debtor - Asian Hotels (West) Ltd. and shareholders of Corporate Debtor challenging the order passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi Bench IV admitting Section 7 application filed by the Financial Creditor as well as orders passed in two Interlocutory Applications. These appeals, arising out of the same proceedings, were heard together and decided by a common judgment. The article provides a detailed account of the events leading to the appeals, including the financial assistance availed by the Corporate Debtor from Yes Bank, the default committed by the Corporate Debtor, and the subsequent legal actions taken by both parties. It also highlights the various orders passed by the Adjudicating Authority and the interim orders issued by the Tribunal during the pendency of the appeals. The article concludes with a discussion on the main question to be considered in the appeals, which is whether the decision of the CoC to reject the proposal under Section 12A dated 11.08.2023 as revised on 04.10.2023 is arbitrary and unsustainable.
Section 7 application - Financial Creditor - Corporate Debtor - Committee of Creditors (CoC) - Resolution Professional - Insolvency and Bankruptcy Code (IBC)
Vague 'Bad Work' Can't Presume Penetrative Sexual Assault Under POCSO Section 4 Without Evidence: Patna High Court
28 Apr 2026
Limiting Crop Damage Compensation to Specific Wild Animals Excluding Birds Violates Article 14: Bombay HC
28 Apr 2026
Appeal Limitation in 1991 Police Rules Yields to Uttarakhand Police Act 2007 on Inconsistency: Uttarakhand HC
28 Apr 2026
Nashik Court Reserves Verdict on Khan's TCS Bail Plea
29 Apr 2026
Delhi Court Grants Bail to I-PAC Director in PMLA Case
30 Apr 2026
No Historic Record of Saraswati Temple Demolition, Muslim Body Tells MP High Court in Bhojshala Dispute
30 Apr 2026
No Absolute Bar on Simultaneous Parole/Furlough for Co-Accused Under Delhi Prisons Rules: Delhi High Court
30 Apr 2026
Rejection of Jurisdiction Plea under Section 16 Arbitration Act Not Challengeable under Section 34 Till Final Award: Supreme Court
30 Apr 2026
'Living Separately' Under Section 13B HMA Means Cessation Of Marital Obligations, Regardless Of Residence: Patna High Court
30 Apr 2026
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
