Whether an unsuccessful resolution applicant can assail an approved resolution plan? Facts: An appeal was preferred by Mr. M.K. Rajagopalan, being an unsuccessful resolution applicant (“Appellant”) of Vasan Health Care Private Limited (“Corporate Debtor”) before the National Company Law Appellate Tribunal (“NCLAT”) being aggrieved by Order dated 03.02.2023 (“Impugned Order”) whereby the resolution plan submitted […]
ZEUS News Alert
Whether the Directors of the Corporate Debtor are discharged under Section 138 Negotiable Instruments Act, 1881 if the Resolution Plan has been approved by the NCLT? The question of law that came for adjudication before the Hon’ble Supreme Court was whether during the Corporate Insolvency Resolution process (“CIRP”) proceedings under Insolvency and Bankruptcy Code, 2016 […]
ZEUS News Alert
What constitutes a fraudulent transaction under Section 66 of the Insolvency and Bankruptcy Code, 2016? Brief Facts: An application was filed by the liquidator of a Corporate Debtor before the National Company Law Tribunal, Chennai (“NCLT”) praying that an entry of Rs. 21.37 Crore in the financial statements of FY 2018 be declared fraudulent and […]
ZEUS News Alert July 2022
Rare Township Private Limited Vs. IIRF India Realty VIII Ltd. The Hon’ble MahaRERA (Maharashtra Real Estate Regulatory Authority, Mumbai) recently passed an order in the case of Rare Township Pvt. Ltd. (‘Complainant’) v. IIRF Indian Realty VIII Ltd. (‘Respondent’) [Complaint No. CC006000000220888, decided on 30-06-2022], wherein MahaRERA, while dealing with an issue ‘as to […]