As outlined in our previous briefing note on the Corporate Insolvency and Governance Act 2020, a new restructuring tool was introduced in June 2020 in the form of the Part A1 free-standing moratorium (the "Moratorium").
Facts
Facts
Welcome to the sixth edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.
The National Company Law Appellate Tribunal (NCLAT) vide its order dated 3 January 2022 in Jayanthi Ravi v Chemizol Additives Pvt Ltd ruled that the advance extended by a director to the company which is recorded as a loan in the minutes of the meeting of the board of directors would be classified as financial debt under the Insolvency and Bankruptcy Code, 2016 (IBC).
INTRODUCTION
A three-judge Bench of the Supreme Court of India (SC) in V. Nagarajan v. SKS Ispat and Power Ltd. & Others (judgment dated 22 October 2021 in Civil Appeal No. 3327 of 2020) dismissed an appeal against an order passed by the National Company Law Appellate Tribunal (NCLAT) which had dismissed an appeal against an order passed by the National Company Law Tribunal Chennai (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC) as barred by limitation.
Facts
The High Court has dismissed a challenge to Caffe Nero's company voluntary arrangement (CVA) in Young v Nero Holdings Limited. The Applicant in the proceedings, Mr Young, was a landlord of premises let to the First Respondent, Nero Holdings Limited (the Company) and challenged the Company's CVA under s 6(1)(a) and (b) of the Insolvency Act 1986 (the Act).
Introduction:
Aggrieved by the order of the National Company Law Appellate Tribunal (NCLAT) refusing to condone a delay of 44 (forty-four) days in filing an appeal against the order passed by the National Company Law Tribunal (NCLT), the Appellant (i.e., National Spot Exchange Limited) preferred an appeal before the Hon’ble Supreme Court of India.