Rulings
NCLAT: Affirms NCLT-order directing Bhushan Steel’s ex-promoters to sell their shares as per approved-plan
HC: Upholds validity of SARFAESI Act provision requiring creditor to confirm borrower’s NPA classification
NCLAT: Rejects Operational Creditor’s appeal against approved Resolution Plan, observes no discrimination
SC: Quashes HC order denying termination of originally constituted Arbitral Tribunal, considering ‘ineligible’ members
NCLT: Inter Corporate Deposits are ‘financial debts’; Pre-existing dispute irrelevant in Sec. 7 insolvency-applications
HC: Rejects L&T’s retired employees association’s plea seeking MCA-investigation against L&T, cites lacking locus
HC: Arbitral jurisdiction can’t be challenged under CPC in execution proceedings, dismisses Bank’s plea
NCLAT: Upholds NCLT order approving companies’ scheme of amalgamation, considering stakeholders’ ‘100%’ consent
NCLAT: Directs ABG Shipyard’s Liquidator to reclassify creditor holding DRT decree as ‘secured’
NCLT: Can’t allow withdrawal of CIRP, merely basis settlement by one creditor
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