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NCLT JUDGEMENT ON SECTION 133, 230, 232, 232(3)(I) OF THE COMPANIES ACT, 2013

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          NAME MOBILE NO. E-MAIL I’D RANJEET   KUMAR 8383098478 ,  9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 ,  9355723300 jai.thakur@courtkutchehry.com RAJEEV   RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK   MISHRA 9718327746 sales@courtkutchehry.com RAVI   KUMAR ravi.singh@courtkutchehry.com Sarvlok Vintrade Pvt. Ltd. And Ors Vs. Yuthika Sales Pvt. Ltd, (2020) 06 NCLT CK 0021 NCLT allowed the petition filed by the petitioner under Section 230 to 232 of the Companies Act, 2013 read with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 for the Sanction of the proposed Scheme of Amalgamation. While allowing the petition NCLT held that we have gone through the report of the Ld. Regional Director (Northern Region), Ministry of Corporate Affairs, New Delhi, the Official Liquidator, New Delhi and the Income Tax Department and after perusing the same, we are of the view that the sanction o...
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NCLT JUDGEMENT ON SECTION 133, 230, 230(3), 230(5), 230(9), 231, 232 OF THE COMPANIES ACT, 2013

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          NAME MOBILE NO. E-MAIL I’D RANJEET   KUMAR 8383098478 ,  9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 ,  9355723300 jai.thakur@courtkutchehry.com RAJEEV   RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK   MISHRA 9718327746 sales@courtkutchehry.com RAVI   KUMAR ravi.singh@courtkutchehry.com Raag Technologies And Services Private Limited Vs. Rangan Manufacturing Services Private Limited, (2020) 07 NCLT CK 0125 NCLT allowed the application filed by the applicant, under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (hereinafter referred to as 'the Act') read with The Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (hereinafter referred to as 'the rules') for approval of the Scheme of Arrangement. While allowing the application NCLT held that taking into consideration the applications filed by the Demerged Company and Resulting Companies in relation to the...
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NCLT JUDGEMENT ON SECTION 3(11), 3(6), 5(7), 5(8), 5(8)(A), 5(8)(B), 5(8)(C), 5(8)(D), 5(8)(E), 5(8)(F), 5(8)(G), 5(8)(H), 5(8)(I), 7 OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016, SECTION 62(A)(1), 68, 179, 186 OF THE COMPANIES ACT, 2013, SECTION 12 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 AND SECTION 25 OF THE EVIDENCE ACT, 1872

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          NAME MOBILE NO. E-MAIL I’D RANJEET   KUMAR 8383098478 ,  9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 ,  9355723300 jai.thakur@courtkutchehry.com RAJEEV   RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK   MISHRA 9718327746 sales@courtkutchehry.com RAVI   KUMAR ravi.singh@courtkutchehry.com Pankaj Piyush Trade And Investment Limited Vs. Kamal Ideal Infratech Private Limited, (2020) 06 NCLT CK 0023 NCLT dismissed the petition filed by the petitioner, under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for brevity 'code') praying for initiation of Corporate Insolvency Resolution Process of the Corporate Debtor on grounds of its inability to liquidate its financial debt. While dismissing the petition NCLT held that In the light of the aforesaid provisions, when we shall consider the case of Petitioner then we find that the applicant has not enclosed the resolution passed by the Corporate Debtor com...
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NCLT JUDGEMENT ON SECTION 72(A) OF THE INCOME-TAX ACT, 1961 AND SECTION 230, 231, 232, 232(4) OFN THE COMPANIES ACT, 2013

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           NAME MOBILE NO. E-MAIL I’D RANJEET   KUMAR 8383098478 ,  9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 ,  9355723300 jai.thakur@courtkutchehry.com RAJEEV   RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK   MISHRA 9718327746 sales@courtkutchehry.com RAVI   KUMAR ravi.singh@courtkutchehry.com Open Technologies India Pvt. Ltd Vs. ESQ Management Solutions India Pvt. Ltd, (2020) 06 NCLT CK 0026 NCLT allowed the petition filed by the petitioner, Transferor and Transferee Companies under Section 230-232 of Companies Act, 2013 for the purpose of the approval of the scheme of amalgamation, as contemplated between the companies and its shareholders and creditors by way of Amalgamation. While allowing the petition NCLT held that in view of the foregoing, upon considering the approval accorded by the Members and Creditors of all Companies to the proposed Scheme, and no sustainable objections having been raise...
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NCLT JUDGEMENT ON RULE 4 OF THE INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY) RULES, 2016, RULE 11 OF THE NATIONAL COMPANY LAW TRIBUNAL RULES, 2016, SECTION 7, 9, 14, 19, 29, 29(A), 30, 30(1), 30(2), 30(2)(B), 30(2)(D), 30(2)(E), 30(2)(F), 30(6), 31, 31(1), 31(2), 31(3), 31(4), 43, 45, 53, 53(1), 60(5), 60(5)(C), 60(6), 74(3), 238 SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT, SECTION 13(2) OF THE INTEREST ACT, 2002, SECTION 65(A), 65(A)(3) OF THE TRANSFER OF PROPERTY ACT, 1882, REGULATION 42, 44 OF THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (LIQUIDATION PROCESS) REGULATIONS, 2016 AND REGULATION 35(A), 36, 36(B), 38, 39, 39(4) OF THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016

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          NAME MOBILE NO. E-MAIL I’D RANJEET   KUMAR 8383098478 ,  9667769795 rk@courtkutchehry.com JAI THAKUR 8130703334 ,  9355723300 jai.thakur@courtkutchehry.com RAJEEV   RANJAN 9334553249 rajiv.ranjan@courtkutchehry.com ASHOK   MISHRA 9718327746 sales@courtkutchehry.com RAVI   KUMAR ravi.singh@courtkutchehry.com Corporation Bank And Ors Vs. Amtek Auto Limited And Ors, (2020) 07 NCLT CK 0075 NCLT dismissed the application filed by the applicant for modifications as may be considered necessary by the Resolution Applicants in the Resolution Plan. While dismissing the application NCLT held that Clause 2.5.2 of the Resolution Plan dated 17.01.2020 read with addendum dated 07.02.2020 clearly shows that the "execution of a long term lease (subsisting for 20 years or more) for the ACE Complex land with acceptable terms" is not a condition precedent for approval of the plan, but the same is an "effective date condition precedent. The...
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