The National Company Law Appellate Tribunal (NCLAT<\/a>) has dismissed a petition filed by the insolvency regulator, which had challenged a bankruptcy court decision to reject lenders' plea to admit GTL Infrastructure<\/a> for insolvency proceedings. 这个NCLT秩序已经受到Canara银行在上诉法庭NCLAT之前,发布通知1月23日,2023年,和3月17日上市,2023年为听证会。NCLAT之前也不过,IBBI提出上诉控告GTL基础设施有限一样被调查者和Canara银行执行被申请人。 国家公司法上诉法庭(NCLAT)已经被提交的请愿书破产监管机构曾挑战破产法庭的决定拒绝债权人请求承认GTL基础设施破产程序。
The Insolvency and Bankruptcy Board of India's (IBBI<\/a>) petition was seen as an attempt towards course correction after various tribunals rejected applications to initiate insolvency proceedings against defaulters citing a Supreme Court order. The apex court had struck down a bankruptcy court decision to admit Vidarbha Industries Power for insolvency proceedings, saying that its receivables were enough to pay off the debt.
In the GTL Infra<\/a> case, the NCLAT said the IBBI was not an aggrieved party and dismissed its petition.
In November last year, the Mumbai bench of the National Company Law Tribunal (NCLT<\/a>) had dismissed Canara Bank<\/a>'s petition to admit GTL Ltd and its telecom infrastructure unit GTL Infra, citing the Vidarbha Industries order. The bankruptcy court said both cases were similar.
Canara Bank has separately challenged the NCLT's order. The appellate tribunal is hearing that as well.
Meanwhile, the IBBI appealed that as an insolvency regulator, it was responsible for enforcing various regulations of corporate insolvency resolution. \"Therefore, it becomes imperative for the appellant to file the instant appeal as the impugned order is based on an incorrect interpretation of the provisions of the Insolvency & Bankruptcy Code<\/a>, inter alia Section 7,\" the board said in its appeal, according to the order issued early this week.
The NCLAT said the IBBI had nothing to do with the litigation between two parties: the financial creditor and the corporate debtor. It asked how the IBBI could be an aggrieved person, especially when Canara Bank had already filed an appeal, and said its appeal was totally misconceived and non-maintainable.
Last year, the Supreme Court struck down the bankruptcy court order on Vidarbha Industries, saying that the power producer had won a ?1,730 crore award but was unable to pay lenders because that award was challenged.
Tribunals have the discretion to reject or admit a company despite proof of default, the apex court said. The mere existence of debt and default cannot be the only criteria to admit a company for corporate insolvency, it said.
At least 16 cases have been rejected by various courts citing the Vidarbha Industries case, leading to frustration among lenders keen to recover money from defaulters.
While dismissing Canara Bank's plea, the NCLT said that GTL Infra had claims pending from various telecom companies amounting to ?14,700 crore, which would be sufficient to pay its debt. The tribunal, however, ignored that the receivables include a ?13,394 crore claim from Aircel entities, which itself is undergoing insolvency proceedings, said bankers.
Canara Bank has approached the appellate tribunal through its counsels Bishwajit Dubey and Srideep Bhattacharyya. Senior advocate Arun Kathpalia and counsels Prasad Lotlikar and Rohan Rajdyaksha are representing GTL and GTL Infra.
<\/p><\/body>","next_sibling":[{"msid":97787191,"title":"India likely to invite more companies to set up semiconductor units","entity_type":"ARTICLE","link":"\/news\/india-likely-to-invite-more-companies-to-set-up-semiconductor-units\/97787191","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"97735952","title":"IBBI challenges NCLT's order rejecting admission of GTL Infra","entity_type":"IMAGES","seopath":"news\/india\/nclat-rejects-ibbis-plea-against-nclt-order-of-gtl-infrastructure\/ibbi-challenges-nclts-order-rejecting-admission-of-gtl-infra","category_name":"Appellate Tribunal dismisses IBBI plea in GTL Infra case","synopsis":"Representative Image","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-25046\/97735952.cms?width=150&height=112","link":"\/image\/india\/nclat-rejects-ibbis-plea-against-nclt-order-of-gtl-infrastructure\/ibbi-challenges-nclts-order-rejecting-admission-of-gtl-infra\/97735952"}],"msid":97787206,"entity_type":"ARTICLE","title":"Appellate Tribunal dismisses IBBI plea in GTL Infra case","synopsis":"This NCLT order has already been challenged by Canara Bank before the appellate tribunal NCLAT, which issued notices on January 23, 2023, and the matter is listed on March 17, 2023, for hearings. However, IBBI also filed an appeal before the NCLAT impleading GTL Infrastructure Limited as respondent and Canara Bank as Performa Respondent.","titleseo":"telecomnews\/appellate-tribunal-dismisses-ibbi-plea-in-gtl-infra-case","status":"ACTIVE","authors":[{"author_name":"Sangita Mehta","author_link":"\/author\/6893\/sangita-mehta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/6893.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":6893,"author_name":"Sangita Mehta","author_seo_name":"sangita-mehta","designation":"Journalist","agency":false}},{"author_name":"Maulik Vyas","author_link":"\/author\/479252993\/maulik-vyas","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252993.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":479252993,"author_name":"Maulik Vyas","author_seo_name":"maulik-vyas","designation":"Assistant Editor","agency":false}}],"analytics":{"comments":0,"views":1011,"shares":0,"engagementtimems":5055000},"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2023-02-10 07:25:50","lastupd":"2023-02-10 07:26:39","breadcrumbTags":["gtl infrastructure","nclat","nclt","ibbi","canara bank","ibc","gtl infrastructure limited","insolvency & bankruptcy code","gtl infrastructure","canara bank","gtl infra","Industry"],"secinfo":{"seolocation":"telecomnews\/appellate-tribunal-dismisses-ibbi-plea-in-gtl-infra-case"}}" data-authors="[" sangita mehta","maulik vyas"]" data-category-name="" data-category_id="" data-date="2023-02-10" data-index="article_1">
上诉法庭驳回了IBBI请求GTL下文
印度的破产和破产板(IBBI)的请愿书被视为企图对航向修正后各种法庭拒绝了应用程序启动破产诉讼违约者引用最高法院命令。apex法院驳回破产法庭决定承认,电力行业破产诉讼称其应收账款足以偿还债务。
去年11月,孟买的长椅上国家公司法法庭(NCLT)已经被Canara银行请愿书承认GTL有限公司和电信基础设施单位GTL下文,援引过去行业秩序。破产法庭说这两种情况下是相同的。
Canara银行单独挑战NCLT的秩序。上诉法庭也是听说。
同时,作为破产监管机构的IBBI上诉,这是负责执行各种规定的企业破产的决议。“因此,上诉人文件就必须即时吸引力作为打击顺序是基于一个错误的解释的规定破产和破产法,尤其第7节”,董事会在其上诉表示,根据订单本周初发布。
NCLAT说IBBI无关的两党之间的诉讼:金融债权人和公司的债务人。它问IBBI如何能是一个愤愤不平的人,特别是当Canara银行已经提起上诉,并表示其完全误解和non-maintainable的吸引力。
去年最高法院驳回破产法庭秩序,行业,电力企业获得了? 1730卢比的奖项,但无法偿还银行贷款,因为那个奖是挑战。
法庭的决定接受或拒绝承认公司尽管违约的证据,法院说。债务和违约的存在不能被承认的唯一标准企业破产的公司,它说。
至少16个病例被各种法院援引过去行业情况,导致贷款人失望渴望恢复违约者的钱。
而解雇Canara银行的请求,NCLT说GTL下文索赔等待各电信公司总计? 14700卢比,这足以偿还债务。法庭,但忽略了一个事实,即应收账款包括? 13394卢比的索赔Aircel实体,本身经历破产诉讼,银行家说。
Canara银行已经向上诉法庭通过其计谋Bishwajit Dubey Srideep Bhattacharyya。高级提倡阿伦Kathpalia和计谋Prasad Lotlikar Rohan Rajdyaksha代表GTL和GTL下文。
读到
The National Company Law Appellate Tribunal (NCLAT<\/a>) has dismissed a petition filed by the insolvency regulator, which had challenged a bankruptcy court decision to reject lenders' plea to admit GTL Infrastructure<\/a> for insolvency proceedings.
The Insolvency and Bankruptcy Board of India's (IBBI<\/a>) petition was seen as an attempt towards course correction after various tribunals rejected applications to initiate insolvency proceedings against defaulters citing a Supreme Court order. The apex court had struck down a bankruptcy court decision to admit Vidarbha Industries Power for insolvency proceedings, saying that its receivables were enough to pay off the debt.
In the GTL Infra<\/a> case, the NCLAT said the IBBI was not an aggrieved party and dismissed its petition.
In November last year, the Mumbai bench of the National Company Law Tribunal (NCLT<\/a>) had dismissed Canara Bank<\/a>'s petition to admit GTL Ltd and its telecom infrastructure unit GTL Infra, citing the Vidarbha Industries order. The bankruptcy court said both cases were similar.
Canara Bank has separately challenged the NCLT's order. The appellate tribunal is hearing that as well.
Meanwhile, the IBBI appealed that as an insolvency regulator, it was responsible for enforcing various regulations of corporate insolvency resolution. \"Therefore, it becomes imperative for the appellant to file the instant appeal as the impugned order is based on an incorrect interpretation of the provisions of the Insolvency & Bankruptcy Code<\/a>, inter alia Section 7,\" the board said in its appeal, according to the order issued early this week.
The NCLAT said the IBBI had nothing to do with the litigation between two parties: the financial creditor and the corporate debtor. It asked how the IBBI could be an aggrieved person, especially when Canara Bank had already filed an appeal, and said its appeal was totally misconceived and non-maintainable.
Last year, the Supreme Court struck down the bankruptcy court order on Vidarbha Industries, saying that the power producer had won a ?1,730 crore award but was unable to pay lenders because that award was challenged.
Tribunals have the discretion to reject or admit a company despite proof of default, the apex court said. The mere existence of debt and default cannot be the only criteria to admit a company for corporate insolvency, it said.
At least 16 cases have been rejected by various courts citing the Vidarbha Industries case, leading to frustration among lenders keen to recover money from defaulters.
While dismissing Canara Bank's plea, the NCLT said that GTL Infra had claims pending from various telecom companies amounting to ?14,700 crore, which would be sufficient to pay its debt. The tribunal, however, ignored that the receivables include a ?13,394 crore claim from Aircel entities, which itself is undergoing insolvency proceedings, said bankers.
Canara Bank has approached the appellate tribunal through its counsels Bishwajit Dubey and Srideep Bhattacharyya. Senior advocate Arun Kathpalia and counsels Prasad Lotlikar and Rohan Rajdyaksha are representing GTL and GTL Infra.
<\/p><\/body>","next_sibling":[{"msid":97787191,"title":"India likely to invite more companies to set up semiconductor units","entity_type":"ARTICLE","link":"\/news\/india-likely-to-invite-more-companies-to-set-up-semiconductor-units\/97787191","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"97735952","title":"IBBI challenges NCLT's order rejecting admission of GTL Infra","entity_type":"IMAGES","seopath":"news\/india\/nclat-rejects-ibbis-plea-against-nclt-order-of-gtl-infrastructure\/ibbi-challenges-nclts-order-rejecting-admission-of-gtl-infra","category_name":"Appellate Tribunal dismisses IBBI plea in GTL Infra case","synopsis":"Representative Image","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-25046\/97735952.cms?width=150&height=112","link":"\/image\/india\/nclat-rejects-ibbis-plea-against-nclt-order-of-gtl-infrastructure\/ibbi-challenges-nclts-order-rejecting-admission-of-gtl-infra\/97735952"}],"msid":97787206,"entity_type":"ARTICLE","title":"Appellate Tribunal dismisses IBBI plea in GTL Infra case","synopsis":"This NCLT order has already been challenged by Canara Bank before the appellate tribunal NCLAT, which issued notices on January 23, 2023, and the matter is listed on March 17, 2023, for hearings. However, IBBI also filed an appeal before the NCLAT impleading GTL Infrastructure Limited as respondent and Canara Bank as Performa Respondent.","titleseo":"telecomnews\/appellate-tribunal-dismisses-ibbi-plea-in-gtl-infra-case","status":"ACTIVE","authors":[{"author_name":"Sangita Mehta","author_link":"\/author\/6893\/sangita-mehta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/6893.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":6893,"author_name":"Sangita Mehta","author_seo_name":"sangita-mehta","designation":"Journalist","agency":false}},{"author_name":"Maulik Vyas","author_link":"\/author\/479252993\/maulik-vyas","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479252993.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":479252993,"author_name":"Maulik Vyas","author_seo_name":"maulik-vyas","designation":"Assistant Editor","agency":false}}],"analytics":{"comments":0,"views":1011,"shares":0,"engagementtimems":5055000},"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2023-02-10 07:25:50","lastupd":"2023-02-10 07:26:39","breadcrumbTags":["gtl infrastructure","nclat","nclt","ibbi","canara bank","ibc","gtl infrastructure limited","insolvency & bankruptcy code","gtl infrastructure","canara bank","gtl infra","Industry"],"secinfo":{"seolocation":"telecomnews\/appellate-tribunal-dismisses-ibbi-plea-in-gtl-infra-case"}}" data-news_link="//www.iser-br.com/news/appellate-tribunal-dismisses-ibbi-plea-in-gtl-infra-case/97787206">
评论
现在评论 阅读评论(1)所有评论
找到这个评论进攻?
下面选择你的理由并单击submit按钮。这将提醒我们的版主采取行动