Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
NCLT admitted SIDBI’s insolvency application against a media company based on NeSL’s deemed-authenticated record showing ₹2.52 crore default in financial debt.
NCLT has ordered liquidation of a corporate debtor after 91.75% of the Committee of Creditors (CoC) approved the move, declining to appoint the Resolution Professional (RP) as liquidator under amended IBC provisions.
NCLAT dismissed applications seeking recall of its order rejecting impleadment, finding no fraud, and imposed exemplary costs of ₹5 lakh for misuse of legal process.
NCLT admitted SIDBI’s insolvency application against a media company, relying on National E-Governance Services Ltd (NeSL) record as deemed authenticated proof of ₹2.52 crore financial debt.
NCLT directed liquidation of a corporate debtor after approval by 91.75% of the Committee of Creditors (CoC), declining to appoint the Resolution Professional (RP) as liquidator under amended IBC provisions.
NCLAT dismissed recall applications challenging rejection of impleadment, holding no proven fraud or error. ₹5 lakh exemplary costs imposed for abuse of process.
NCLT admitted SIDBI’s insolvency application against a media company based on NeSL data showing ₹2.52 crore default. The deemed authentic NeSL record was pivotal in establishing financial debt under IBC.
NCLT rejected the appointment of a Resolution Professional as liquidator in the same case, enforcing the bar under amended Section 34(4) of the IBC to prevent conflict of interest.
NCLAT upheld the rejection of a ₹7 crore resolution plan for failing to address the cause of default and violating mandatory IBC requirements, reinforcing creditor protection and statutory compliance.
NCLAT dismissed applications seeking recall of an order rejecting impleadment, holding that review is impermissible absent proven fraud. The tribunal imposed ₹5 lakh exemplary costs for misusing judicial process.
NCLT admitted SIDBI’s insolvency petition against a media company based on NeSL’s deemed-authenticated record showing ₹2.52 crore default. The tribunal found financial debt established under IBC.
NCLAT dismissed applications for recall of its earlier order rejecting impleadment, ruling that review is impermissible absent proven fraud. The tribunal imposed exemplary costs of ₹5 lakh to deter frivolous litigation.