Rulings
NCLT: Upholds CoC’s decision to not pay suspended directors for their services during CIRP
HC: Quashes order acquitting accused persons in cheque-dishonor case; Remits matter for retrial
IBBI: Penalizes IP for wrongful payment of pre-CIRP dues in Siva Industries’ insolvency process
NCLAT: Sets aside NCLT order rejecting insolvency initiation, given due and payable financial debt
HC: Affirms Trial Court order adjudicating auction-purchasers’ suit, absent action under SARFAESI Act
NCLAT: Upholds NCLT-order directing forfeiture of Successful Resolution Applicant’s entire Performance Bank Guarantee
HC: Denies bail to Bhushan Power’s ex-employees arrested by SFIO in Rs. 5,435-cr. fraud-case
NCLAT: Sets aside NCLT order reducing Financial Creditor’s admitted claim in Jet Airways’ resolution
HC: Promoter challenging Sec.148 notice on struck-off Co., later restored, abuse of law; Imposes cost
NCLAT: Cannot invoke Rule 11 of NCLAT Rules unless there is settlement between parties
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