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“Geo tagging of all trees to be made mandatory so that accurate records of their location, type and number can be maintained. Geo tag data should be published and be made available and reported to the office of Chief Conservator of Forest.”
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The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.”
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The NGT acknowledged that “the OA raises substantial issue relating to compliance of environmental norms.”
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“Zee and Essel undertook to ensure that SNL would fulfil its obligations and assured that the outstanding amount would be paid. To treat the said LOCs as guarantees would amount to adding words which were not written.”
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“Once a Secured Creditor relinquishes its security interest to the liquidation estate, it cannot seek priority among other Secured Creditors on the basis of the charge and is only entitled to receive proceeds from the sale of assets in the manner specified under Section 53 of the IBC.”
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The CCI directed Google to submit annual compliance reports for five years and implement the Settlement Proposal per its submitted timeline.
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“There shall be liberty to the appellant to file a fresh Section 7 application for any default on the part of the corporate debtor subsequent to 10A period.”
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The applicants filed an application contending that Matheran hill station and an Eco-Sensitive Zone was facing serious environmental degradation due to the excessive use of horses for tourism and goods transportation.
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National Green Tribunal directed for necessary plantation to maintain the ecology in the area.
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“There is no mandatory requirement for factorising the date of uploading of the balance sheet on the MCA portal for computing the period of limitation.”
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The NCLT gave the first right to buy shares to the petitioners and then the Deccan Group. If neither party purchased the other’s shares, the NCLT would consider winding up the company under Section 242(1)(b) of the Companies Act.
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The NCLT acknowledged the impact of force majeure events, particularly the unprecedented rise in coal prices and operational disruptions caused by the COVID-19 pandemic on Corporate Debtor.
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The NGT acknowledged that the matter raises serious environmental and public health concerns.
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“The present one is a case where material facts have not been disclosed by the Applicant Company, violating Section 230 (2)(a) of the Companies Act, 2013, which in our considered opinion is bound to prejudice the public interest at large.”
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“If the Corporate Debtor operates as a manufacturing facility, then electricity may be treated as critical service by the insolvency professional and the dues for such services must be paid.”
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The DCDRC noted that in the new era, time is considered money, and no one has the right gain benefit out of other’s time and money.
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“Any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 IBC.”
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“The importer has an obligation to self-assess duty but has no obligation under law to anticipate what view regarding classification of goods may be taken by the proper officer or may be taken by DRI or some other investigating agency at any time in future and file Bills of Entry conforming to such anticipated views of the proper officer or DRI or some other investigating agency.”
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SCDRC sternly took note of illegal constructions and illegal encroachments done by the opposite parties, thereby hindering the privacy and security of Allahabad High Court (Lucknow Bench) premises and residents of Experion Capital.
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“The essence of the IBC lies in resolving insolvency matters through a process driven approach, and any deviation from its prescribed scope would undermine the legislative intent of the Code.”
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