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NCLAT Dismisses Appeal of Former Director in Fraudulent Trading Case Under Section 66 IBC. The Tribunal upheld the finding that the appellant siphoned funds and engaged in wrongful trading during liquidation of Easytech Global Private Limited....

The present appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by Mr. Gopal Kalra, the erstwhile director of M/s Easytech Global Private Limited (Corporate Debtor), ag...

Tribunals

NCLAT Allows Appeal by Financial Creditor in Insolvency Case — Loan Agreement and Default Proven, Adjudicating Authority Erred in Rejecting Application Under Section 7 of IBC, 2016. Loan advanced by NBFC to Corporate Debtor under Facility Agreement constitutes financial debt under Section 5(8) IBC, and Section 7 application filed within limitation period must be admitted....

The present appeal was filed by M/s Lok Sewak Leasing & Investment Pvt. Ltd., a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, under Section 61 of the Insolvency and B...

Tribunals

NCLAT Allows Appeal of Financial Creditor Against Classification as Unsecured Creditor in Liquidation Proceedings. The Tribunal remanded the matter for fresh consideration of whether the creditor's claim based on bill discounting facilities should be treated as secured or unsecured under the Insolvency and Bankruptcy Code, 2016....

The appeal was filed by Bizloan Private Limited, a financial creditor, against the order of the National Company Law Tribunal, Mumbai Bench, dated 19.12.2023, which classified the Appellant as an unse...

Tribunals

NCLAT Dismisses Appeal of Homebuyer Seeking Late Claim Filing in CIRP — Resolution Plan Approved Prior to Claim Filing Cannot Be Reopened. Homebuyer's claim filed after CoC approval of resolution plan was rightly rejected by RP as per IBC Regulations....

The case involves an appeal filed by Sonia Kapoor, an allottee of a unit (A-1-104) in a real estate project of Dream Procon Pvt. Ltd. (Corporate Debtor), against an order of the NCLT, New Delhi dated ...

Tribunals

NCLAT Dismisses Appeal as Time-Barred in Insolvency Case Due to Delay in Filing. Limitation Period Under Section 61(2) of I&B Code, 2016 Cannot Be Extended Merely Because Appellant Was Not a Party to Proceedings....

The appellant, Nalimela Jagadeeshwar Reddy, filed a Company Appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging an order dated 19.02.2025 passed by the National Company La...

Tribunals

NCLAT Dismisses Appeal Against Rejection of Application to Declare Assignment Agreement Null and Void for Insufficient Stamping — Appellant Had Already Sought Same Relief Before High Court, Rendering Appeal Infructuous....

The appellant, G. Yoganand, filed an application before the National Company Law Tribunal (NCLT), Hyderabad, in CP (IB) No. 359/95/HDB/2022, seeking a declaration that the Assignment Agreement dated 0...

Tribunals

NCLAT Dismisses Financial Creditor's Appeal Against Personal Guarantor Due to Prior Pending Section 95 Proceedings - Bar Under Section 96 IBC. The court held that a subsequent application under Section 95 of IBC is not maintainable when another application under Section 95 is already pending against the same personal guarantor....

The case involves an appeal by Indian Bank (Financial Creditor) against an order of the National Company Law Tribunal (NCLT), Chennai Bench, dated 06.01.2025 in CP(IB)80/2024. The NCLT had dismissed t...

Tribunals

NCLAT Dismisses Appeal Against NCLT Order Refusing Amendment in Section 7 IBC Proceedings — Amendment Sought After Completion of Pleadings and Prior to Admission Not Permitted as It Would Change Nature of Proceedings....

The case involves an appeal filed by Vasavai Power Services Pvt. Ltd. (Corporate Debtor) against an order of the National Company Law Tribunal (NCLT), Amaravati Bench, rejecting its application for am...

Tribunals

NCLAT Dismisses Appeal by Suspended Director Against Admission of Section 9 Application by Operational Creditor. Pre-existing Dispute Not Established as Operational Creditor's Claim for Refund of Advance Payment Was Not Disputed Prior to Demand Notice Under Section 8 of Insolvency and Bankruptcy Code, 2016....

The appeal was filed by Bhawani Prasad Mishra, a suspended director of B.S. Ispat Pvt. Ltd. (Corporate Debtor), challenging the order dated 26.03.2025 passed by the National Company Law Tribunal, Mumb...

Tribunals

NCLAT Dismisses Appeal by Personal Guarantor Against Withdrawal of Insolvency Petition by State Bank of India — Principles of Dominus Litis and Right to Withdraw Under Section 95 of IBC, 2016 Upheld. The Personal Guarantor has no locus standi to object to the withdrawal of a Section 95 petition by the Financial Creditor before admission....

The case involves an appeal filed by S. Srinivasan, a Personal Guarantor of M/s. Sri Venkatram Spinners Pvt. Ltd., against an order of the National Company Law Tribunal (NCLT), Chennai, dated 03.06.20...

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