Amid the lockdown, the President of India, Mr. Ram Nath Kovind passed the much- awaited amendment ordinance to suspend and implement certain provisions for the time being due to the COVID-19 disruption which stopped the functioning of many markets and has made companies insolvent therefore the current amendments came into force to save these companies and help them to revive. The
Demand notice to be issued to the Corporate Debtor by the Operational Creditor demanding payment of amount involved. The Corporate Debtor, within a period of ten days of the receipt of the demand notice shall notify the Operational Creditor of the existence of a dispute if any or show proof of repayment. After the expiry of the aforementioned ten days
Introduction The article will deal with the ingredients of order 37 of Civil Procedure Code. Further, cases and explanation will be given as to what will constitute a summary suit and what does not fall under the ambit. It is to be noted that, a summary suit cannot be constituted by any court without the official notification given by the
In the matter of Nupower Renewables Private Ltd. vs. Cape Infrastructure Private Ltd. (07.07.2017 – NCLT – Chennai) : MANU/NC/0983/2017: The Application has been filed by the Applicant u/s. 9 of the Insolvency and Bankruptcy Code, 2016 claiming the advance amount paid by the Applicant to the Respondent along with interest. Two main issues were discussed as follows: Whether the
