Withdrawal of money by a Company director from the accounts of the company during the CIRP, the same will attract criminal proceedings against the Directors
The RERA Act at present is still a toothless tiger due to lack of execution process of RERA orders. The reliefs under RERA at the moment rest only in paper.
Whether the delay in delivering possession is due to the Corporate Debtor & in case the delay is not due to the Corporate Debtor, but force majeure, it cannot be alleged that the Corporate Debtor has defaulted in delivering the possession.
The pendency of actions under the SARFAESI Act or actions under the RDDBFI Act, 1993 does not create an obstruction for applying Section 7 of Insolvency and Bankruptcy Code 2016, especially given Section 238 of IBC.
A pre-existing dispute towards interest on the delayed payments before the issuance of the demand notice and that the alleged claim amount towards interest on loan alone, cannot be termed as an “Operational Debt”.
A claim was made in respect of the non-payment of pending salary and other settlement benefits such as leave encashment, Leave Travel Allowance, and bonus.
The IBBI has disclosed that work is in progress to amend the IBC to make it compliant with cross border insolvency processes.
A notice of dispute to a claim under the IBC (Section 9), 2016 is not admissible if made over a telephonic communication and not supported by phone records.
The matter is that in a situation where the Applicant is unable to prove the amount advanced as loan without proper documentations, such loan amount would not meet the requirements of a “Financial Debt”.
NCLAT, New Delhi Bench has held that claims towards rent of leasehold property do not fall within the definition of the operational debt under IBC.