Rulings
NCLAT: Creditor cannot allege default on Debtor’s part absent fulfilment of buyback agreement obligations
HC: Regulations requiring IPs to obtain ‘authorisation for assignment’ from IPA, not unconstitutional
NCLAT: Reiterates, ‘rent arrears’ not ‘operational debt’; Follows observations in Ravindranath Reddy case
HC: Sets aside MCA order rejecting Nidhi Company’s application without hearing, directs reconsideration
IBBI: Bars IP for failing to take-over Corporate Debtor’s assets, pushing it into liquidation
SC: Directs Franklin Templeton to call unit holders’ meeting within one week
NCLT: Stalls Corporate Debtor’s attempt to avail IBC moratorium benefits, dismisses insolvency application
NCLT: Admits insolvency petition, excuses ‘rectifiable defects’; Rejects Corporate Debtor’s ‘force majeure’ defence
NCLT: Allows CA involved in Geetanjali Gems fraud to withdraw additional amount for son’s education
HC: Upholds RBI order cancelling NBFC-registration; Personal hearing an ‘empty formality’ given delayed compliance
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