IV. Consumer Protection Act, 2019: An analysis

Background The Consumer Protection Act, 1986 (“Erstwhile Act”), was enacted with the sole aim of protecting the interests of the consumers and providing for the establishment of Consumer Councils and authorities for the settlement of consumer disputes and related matters. In today’s digital era, we have a myriad of goods and services that can be […]

NCLAT: IBC has no bar for the ‘Promoter’ to file ‘resolution application’, even if otherwise not eligible in terms of Section 29A

The National Company Law Appellate Tribunal (“NCLAT”) in the case of Sreeram E. Techno School Private Limitedv. Beans and More Hospitality Private Limited Through R.P. Prabhjit Singh Soni (decided on September 11, 2019) upheld the order dated July 19, 2019 passed by the NCLT, III bench, Delhi (“Adjudicating Authority”) under Section 30(6) of the Insolvency […]

NCLAT: Decree holder cannot be classified as a financial creditor for the purpose of initiating Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016

The National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has in its judgment dated August 14, 2020 (“Judgment”) in the matter of Sushil Ansal v. Ashok Tripathi and Others [Company Appeal (AT) (Insolvency) No. 452 of 2020], held that a decree holder cannot be classified as a financial creditor for the purpose of initiating Corporate […]

NCLAT: The occurrence of a default, and not the inability to pay debt is relevant for admitting or rejecting an application for initiation of CIRP under the IBC

The National Company Law Appellate Tribunal (“NCLAT”) in the case of Monotrone Leasing Private Limited v. PM Cold Storage Private Limited (decided on July 6, 2020) has held that the inability to pay-off debts and committing default are different aspects which are required to be adjudged on equally different parameters, and that ascertaining commission of […]

Supreme Court: The appellant’s plea on limitation was illusory; the date of execution of sale deed was deliberately excluded to overcome limitation and mislead the court

The Supreme Court of India (“SC”) by its judgement in Dahiben v. Arvindbhai Kalyanji Bhanusali through Legal Representative and Others [Civil appeal no. 9519 of 2019] (decided on July 9, 2020) upheld the order of the Gujarat High Court (“GHC”) affirming the decision of the trial court which had allowed the application of respondent nos. […]