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
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...