Kesoram Industries appeal against the National Company Law Appellate Tribunal s Kolkata ruling rejected its claim of being a financial creditor of Birla Tyres Ltd. The tribunal ruled that Kesoram failed to prove the transaction was a deposit or loan, and therefore, the adjudicating authority did not commit any error in rejecting the appellant s application.
Sabka Vishwas Scheme: Supreme Court Grants Relief To Company Which Missed Deadline Due To IBC MoratoriumThe Supreme Court Bench comprising of Justices M R Shah and Justice B V Nagarathna has remarked.
Nominal Index [Citations: 2023 LiveLaw (SC) 844-944]Pankaj Bansal v. Union of India, Basant Bansal v. Union of India 2023 LiveLaw (SC) 844Aditya Khaitan & Ors. V. IL and FS Financial Services Limited.
Nominal Index [Citations: 2023 LiveLaw (SC) 895-918]Chain Singh v. State of Chattisgarh 2023 LiveLaw (SC) 895M/S Triveni Glass Limited v Commissioner of Trade Tax UP 2023 LiveLaw (SC) 896Mathews J..
Manufacturing and real estate sectors in India have seen varying outcomes in insolvency cases. Manufacturing accounted for 38% of admitted cases but 48% of resolved ones, while real estate represented 21% of admitted cases but only 15% of resolved cases, according to data from the Insolvency and Bankruptcy Board of India.