In the matter of: SU-KAM Power Systems Ltd. Vs. Mr. Kunwer Sachdev & Anr. CS (COMM)1155/2018 FACTS: The Suit was filed by the plaintiff company through its resolution professional under Order XIIIA of CPC for obtaining summary judgement against the defendant. The suit was filed for declaration, permanent injunction, damages and incidental reliefs. It was […]
The Ministry of Corporate Affairs (MCA) has notifies the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudication Authority) Rules 2019 (Rules) to provide a generic framework for insolvency and liquidation proceedings of systemically important Financial Service Providers (FSPs) other than Banks. These rules fill the legislative lacuna […]
Asset Reconstruction Company (I) Limited (ARCIL) Vs. Koteswara Rao Karuchola & Ors. (NCLAT, NEW DELHI) Company Appeal (AT) (Insolvency) No. 633 of 2018 ISSUE: The issue before the Court was whether a Company against which Money Laundering case has been initiated can be allowed to be the member of the Committee of Creditors. FACTS: A […]