WebApr 20, 2024 · Once NCLT initiates CIRP against a debt-ridden firm, it appoints an Interim Resolution Professional (IRP) after suspending the board of the firm. Article 18 of IBC mandates that it is the duty of the IRP to constitute the committee based on all the claims received against the corporate debtor and the determination of the financial position of … WebMay 31, 2024 · 31 May 2024 2:35 PM GMT. Linkedin. The Supreme Court on Monday directed the Central government to complete the process of reappointment of members of NCLT and NCLAT at the earliest, and not later ...
nclat: Supertech Insolvency: Lender asks better settlement plan ...
WebNAME OF THE PARTIES: Shuchindra Narendra Gadre v/s. Sparold Technologies Pvt. Ltd. & Ors. SECTION OF THE COMPANIES ACT: 169, 241-242 OF COMPANIES ACT, 2013. _____ ORDER 36. MA 566/2024 MA 1494/2024 IN CP 04/2024 Both sides present. Even though the Respondents were directed to fission business
NCLT orders insolvency proceedings against Supertech Ltd over …
WebApr 25, 2024 · The NCLT order will not impact the construction at all ongoing projects or operation of the company and "we are committed to giving delivery of units to allottees," it said. When contacted, Arora said, "there are around 11-12 housing projects in the Supertech Ltd against which insolvency proceedings have been initiated. WebJan 21, 2024 · The NCLT should have taken a purposive way of interpreting provisions on cross-border merger rather than literally interpreting it. In doing so, it fails to recognize the objective behind the law which is to lay down a forward-looking law that recognizes the realities of India Inc and facilitate cross-border mergers and amalgamations. WebMar 25, 2024 · Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and … fission cea