The document contains summaries of three separate cases before the National Company Law Appellate Tribunal (NCLAT). The first case, Company Appeal (AT) Insolvency No. 294 of 2018, involves Gail (India) Ltd. as the appellant and M/s. Neycer India Ltd. as the respondent. The case originated from a petition filed by Neycer India Ltd. before the Board for Industrial and Financial Reconstruction (BIFR), which was later abolished. The second case, Company Appeal (AT) (Insolvency) No. 329 of 2018 and Company Appeal (AT) (Insolvency) No. 529 of 2018, involves an internal dispute between State Bank of India and Punjab National Bank regarding the distribution of proceeds from the sale of assets of a corporate debtor. The third case, Company Appeal (AT) No. 29 of 2019, involves
…Case 1: M/s. Neycer India Ltd. filed a petition before the BIFR, which sanctioned a revival scheme. The BIFR was later abolished. The Central Government issued a notification attempting to apply the IBC to schemes sanctioned under the Sick Industrial Companies Act. Gail (India) Ltd. argued before the Adjudicating Authority that the application was not maintainable, but this was rejected. Case 2: State Bank of India and Punjab National Bank are in dispute over Rs. 300 crores collected from the sale of assets of a corporate debtor before the initiation of the Corporate Insolvency Resolution Process. Punjab National Bank claims that State Bank of India encashed the amount and did not distribute the shares to other banks. Case 3: The Union of India, Ministry of Corporate
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The Respondent- ‘M/s. Neycer India Ltd.' filed…
The Appellant- ‘M/s. Gail (India) Ltd.' took…
The document contains summaries of three separate cases before the National Company Law Appellate Tribunal (NCLAT). The first case, Company Appeal (AT) Insolvency No. 294 of 2018, involves Gail (India) Ltd. as the appellant and M/s. Neycer India Ltd. as the respondent. The case originated from a petition filed by Neycer India Ltd. before the Board for Industrial and Financial Reconstruction (BIFR), which was later abolished. The second case, Company Appeal (AT) (Insolvency) No. 329 of 2018 and Company Appeal (AT) (Insolvency) No. 529 of 2018, involves an internal dispute between State Bank of India and Punjab National Bank regarding the distribution of proceeds from the sale of assets of a corporate debtor. The third case, Company Appeal (AT) No. 29 of 2019, involves
…Case 1: M/s. Neycer India Ltd. filed a petition before the BIFR, which sanctioned a revival scheme. The BIFR was later abolished. The Central Government issued a notification attempting to apply the IBC to schemes sanctioned under the Sick Industrial Companies Act. Gail (India) Ltd. argued before the Adjudicating Authority that the application was not maintainable, but this was rejected. Case 2: State Bank of India and Punjab National Bank are in dispute over Rs. 300 crores collected from the sale of assets of a corporate debtor before the initiation of the Corporate Insolvency Resolution Process. Punjab National Bank claims that State Bank of India encashed the amount and did not distribute the shares to other banks. Case 3: The Union of India, Ministry of Corporate
…The Respondent- ‘M/s. Neycer India Ltd.' filed…
The Appellant- ‘M/s. Gail (India) Ltd.' took…