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1 - 10 of 17 (0.76 seconds)Section 5 in The Maharashtra Stamp Act, 1958 [Entire Act]
The Indian Partnership Act, 1932
Swiss Ribbons Pvt. Ltd. vs Union Of India on 25 January, 2019
"50. A conjoint reading of the statutory provisions with the enunciation of this
Court in Swiss Ribbons [Swiss Ribbons (P) Ltd. v. Union of India, (2019) 4 SCC
17] , leaves nothing to doubt that in the scheme of the IBC, what is intended
by the expression "financial creditor" is a person who has direct engagement
in the functioning of the corporate debtor; who is involved right from the
beginning while assessing the viability of the corporate debtor; who would
engage in restructuring of the loan as well as in reorganisation of the corporate
debtor's business when there is financial stress. In other words, the financial
creditor, by its own direct involvement in a functional existence of corporate
debtor, acquires unique position, who could be entrusted with the task of
ensuring the sustenance and growth of the corporate debtor, akin to that of a
guardian. In the context of insolvency resolution process, this class of
stakeholders, namely, financial creditors, is entrusted by the legislature with
such a role that it would look forward to ensure that the corporate debtor is
rejuvenated and gets back to its wheels with reasonable capacity of repaying
its debts and to attend on its other obligations. Protection of the rights of all
other stakeholders, including other creditors, would obviously be concomitant
of such resurgence of the corporate debtor."
Section 7 in The Maharashtra Stamp Act, 1958 [Entire Act]
Section 13 in The Maharashtra Stamp Act, 1958 [Entire Act]
Section 3 in The Indian Partnership Act, 1932 [Entire Act]
The Maharashtra Stamp Act, 1958
Section 8 in The Indian Partnership Act, 1932 [Entire Act]
Paschimanchal Vidyut Vitran Nigam Ltd. vs Raman Ispat Private Limited on 17 July, 2023
"1. The appellant Paschimanchal Vidyut Vitran Nigam Ltd. (hereinafter
"PVVNL") is aggrieved by an order [Paschimanchal Vidyut Vitran Nigam
Company Appeal (AT) (Insolvency) No.1664 of 2024 38
Ltd. v. Raman Ispat (P) Ltd., 2019 SCC OnLine NCLAT 883] of the National
Company Law Appellate Tribunal (hereinafter "NCLAT") which rejected its
appeal against an order [Raman Ispat (P) Ltd. v. Paschimanchal Vidyut Vitran
Nigam Ltd., 2018 SCC OnLine NCLT 25732] of the National Company Law
Tribunal, Allahabad (hereinafter "NCLT"/"adjudicating authority"), which
allowed an application directing the District Magistrate and Tahsildar,
Muzaffarnagar to immediately release property (which was previously attached
at the request of the appellant) in favour of the liquidator of the respondent
Raman Ispat Pvt. Ltd. (hereinafter "corporate debtor") for enabling its sale, and
after realisation of its value, for distributing the proceeds in accordance with
the provisions of the Insolvency and Bankruptcy Code, 2016 (hereinafter
"IBC"/"Code").