N.C.L.T. & N.C.L.A.T. JUDICIAL PRONOUNCEMENT ON I.B.C. & COMPANIES ACT

NATIONAL COMPANY LAW TRIBUNAL (I.B.C.) LANDMARK CASE CASE NO.5 NATIONAL COMPANY LAW TRIBUNAL, DIVISION BENCH, CHENNAI  C.P. 670/IB/2017  IN THE MATTER OF:   M/s Stanbic Bank Ghana Limited                                    …Petitioner  Vs.  Raj kumar Impex Pvt. Ltd.                                              …Respondent  Order dated 27.04.2018 Case Heading: No Bar in taking cognizance of the Foreign Decree as English Commercial-Court is recognized under Section-13 and 44A of CPC The Creditor had sanctioned loan to the subsidiary of the Debtor-company, to which it was a guarantor. However, the Principal-borrower failed to repay the loan and a decree was also passed by the English-court against the Debtor-company. Rela...

NATIONAL COMPANY LAW TRIBUNAL (I.B.C.) LANDMARK CASE CASE: 3 NATIONAL  COMPANY LAW TRIBUNAL, PRINCIPAL BENCH, DELHI M.A.544/2017 in (CP No. 1032/I&BC/MB/MAH/2017) IN THE MATTER OF: Pratik Ramesh Chirania                             …Petitioner                                             Vs. Trinity Auto Components Ltd.                 …Respondent                               Order dated 22.01.2018 Case Filing Purpose: Application has been filed under Section 30(1) & (6) and an Order under Section 31, Under Section 60(5) of I&B Code, 2016...

NATIOANL COMPANY LAW TRIBUNAL, PRINCIPAL BENCH C.P. (IB) No.156 (PB) of 2017 IN THE MATTER OF: Reliance Commercial Finance Limited                                …Petitioner Vs. Ved Cellulose Limited                                                      …Respondent Order dated 30.06.2017 Facts of the Case: 1.    Petitioner approached to the NCLT against the Respondent by invoking the provision of Section 7 of IBC, 2016 for a debt. The debt was originally payable to Reliance capital Finance Limited(“ RCFL ”) by virtue of an order dated 09.12.2016 passed by Hon’ble Bombay High Court duly sanctioning a ...