Urgent interim relief exception permits commercial suit without pre-institution mediation where immediate disclosure and asset protection are genuinel...
Portal order discrepancies invalidated rectification rejection, requiring fresh reasoned consideration after hearing and prompt communication of the o...
Belated claims in CIRP cannot be reopened after CoC approval merely because plan approval by the Adjudicating Authority is pending, and refusal to condone delay was upheld where the claimant was a commercial entity and its claim was not reflected in the corporate debtor's records. The SARFAESI sale certificate preserved liability only for encumbrances expressly listed in Annexure 1, so no enforceable liability survived in favour of a claimant whose name was absent from that list. An allotment of units made in adjustment of legal fees, without any disbursement by the claimant, did not satisfy the requirement of disbursement against consideration for the time value of money and was not financial debt.
Belated claims in CIRP cannot be reopened after CoC approval merely because plan approval by the Adjudicating Authority is pending, and refusal to condone delay was upheld where the claimant was a commercial entity and its claim was not reflected in the corporate debtor's records. The SARFAESI sale certificate preserved liability only for encumbrances expressly listed in Annexure 1, so no enforceable liability survived in favour of a claimant whose name was absent from that list. An allotment of units made in adjustment of legal fees, without any disbursement by the claimant, did not satisfy the requirement of disbursement against consideration for the time value of money and was not financial debt.
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