NATIONAL COMPANY LAW TRIBUNAL JUDGEMENTS

          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 Punjab National Bank Vs. Beta Infratech Private Limited And Ors, (2020) 07 NCLT CK 0083 NCLT allowed the application filed by the applicant, under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the "Code") for issuance of directions for liquidation of the Corporate Debtor. While allowing the application NCLT held that in the factual background and in the absence of any approved resolution plan and for want of time beyond statutory CIRP period; there is no other alternative left but to order in conformity with the decision of the Committee of Creditors, for liquidation of the corp...

           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 Powerscreen Media Private Limited And Ors Vs. Meru Minerals Private Limited, (2020) 07 NCLT CK 0074 NCLT allowed the application filed by the Petitioner Company, under Section 230 to 232 of the Companies Act, 2013 r/w the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 for the purpose of the approval of the Scheme of Amalgamation, as contemplated between the Companies and its Shareholders by way of Amalgamation of Transferor Companies with the Transferee Company. While allowing the application NCLT held that he First Motion Application stands allowed giving liberty to the Applicant Companies...

           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 Power Finance Corporation Limited Vs. South East U.P. Power Transmission Company Limited, (2020) 07 NCLT CK 0087 NCLT allowed the petition filed by the petitioner, under Section 7 of the Insolvency & Bankruptcy Code, 2016, (hereinafter referred to as the "Code"), praying for initiation of Corporate Insolvency Resolution Process of the Corporate debtor on grounds of its inability to liquidate its financial debt. While allowing the petition NCLT held that this Adjudicating Authority finds that as the corporate debtor was under obligation to pay the interest and principal amount in terms of Facility Agreement i...

           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 Piyush Patel Vs. Sunil Kumar Agarwal (Irp) And Ors, (2020) 07 NCLT CK 0069 NCLT allowed the application filed by the Applicant, under section 60(5) of the IB Code. While allowing the application NCLT held that "By relying on the Judgments of this Appellate Tribunal, we are of the view that the Appellant, who claims to be a Financial Creditor, however, claims made by it, is not a Financial Debt, it is reiterated that in the marketing agreements and subsequent correspondent exchanged between the Appellant and the Respondent, no way it is mentioned that the amount paid by the Appellant to be repayable along with in...