An Application was filed by a Claimant, Smt. Sabita A. Biswas, before the Hon’ble NCLT, Cuttack, in the matter of ASREC (India) Limited v. RK Jain Construction (India) Pvt.Ltd., seeking directions against the Resolution Professional to admit the claims of the Applicant/Claimant, to deliver the possession of the premises described in the claim form and […]

In a recent judgment of the division bench of the Hon’ble Calcutta High Court in Joy Kali Oil Industries Pvt. Ltd. v. Union Of India and Ors., the Appellant filed an appeal on the grounds that the Executive Magistrate is not the District Magistrate as contemplated under Section 14 of the SARFAESI Act and the order of the District Magistrate (“DM”) delegating his […]

The above issue became relevant due to conflicting judgments made by various National Company Law Tribunals (“NCLTs“) regarding the question of whether a petition for Corporate Insolvency Resolution Process (“CIRP“) filed against a Corporate Debtor that was withdrawn in accordance with Section 12A of the I&B Code can be revived in the event the Corporate Debtor […]