Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
NCLAT addressed a Section 7 IBC petition involving a real estate developer's insolvency proceedings. The Appellate Tribunal held that the petition was not time-barred due to continuing default and debt acknowledgment. Homebuyers were deemed valid financial creditors, satisfying the statutory threshold for initiating Corporate Insolvency Resolution Process (CIRP). The tribunal rejected allegations of fraudulent intent, finding no substantial evidence to support such claims. The Corporate Debtor's objections regarding limitation, threshold, and malicious intent were comprehensively dismissed. The appeal was ultimately rejected, confirming the Adjudicating Authority's order to admit the insolvency petition and commence resolution proceedings against the developer.
NCLAT addressed a Section 7 IBC petition involving a real estate developer's insolvency proceedings. The Appellate Tribunal held that the petition was not time-barred due to continuing default and debt acknowledgment. Homebuyers were deemed valid financial creditors, satisfying the statutory threshold for initiating Corporate Insolvency Resolution Process (CIRP). The tribunal rejected allegations of fraudulent intent, finding no substantial evidence to support such claims. The Corporate Debtor's objections regarding limitation, threshold, and malicious intent were comprehensively dismissed. The appeal was ultimately rejected, confirming the Adjudicating Authority's order to admit the insolvency petition and commence resolution proceedings against the developer.
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