The case involves multiple civil appeals and a special leave petition arising from different orders of the National Company Law Appellate Tribunal (NCLAT) and the National Company Law Tribunal (NCLT). The central issue is whether simultaneous Corporate Insolvency Resolution Process (CIRP) proceedings can be initiated against a principal debtor and its corporate guarantor under the Insolvency and Bankruptcy Code, 2016 (IBC).
ICICI Bank filed an application under Section 7 of the IBC against ERA Infrastructure (India) Limited as the Corporate Debtor.
The NCLT rejected ICICI's application based on a prior NCLAT judgment in Vishnu Kumar Agarwal v. M/s Piramal Enterprises Ltd.
Bank of India filed an application under Section 7 of the IBC against RNA Corp. Pvt. Ltd., which was allowed by the NCLT.
International Finance Corporation granted a loan to Punj Lloyd Upstream Limited, with Punj Lloyd Limited as guarantor.
NCLT initiated CIRP against Marg Limited at the instance of ICICI, which was later allowed to be withdrawn due to a settlement.
NCLT initiated CIRP against Greengrow Commercial Pvt Ltd, which was challenged by its ex-director, Bijay Kumar Agarwal.
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NCLT, Principal Bench,…
CIRP initiated against…
The case involves multiple civil appeals and a special leave petition arising from different orders of the National Company Law Appellate Tribunal (NCLAT) and the National Company Law Tribunal (NCLT). The central issue is whether simultaneous Corporate Insolvency Resolution Process (CIRP) proceedings can be initiated against a principal debtor and its corporate guarantor under the Insolvency and Bankruptcy Code, 2016 (IBC).
ICICI Bank filed an application under Section 7 of the IBC against ERA Infrastructure (India) Limited as the Corporate Debtor.
The NCLT rejected ICICI's application based on a prior NCLAT judgment in Vishnu Kumar Agarwal v. M/s Piramal Enterprises Ltd.
Bank of India filed an application under Section 7 of the IBC against RNA Corp. Pvt. Ltd., which was allowed by the NCLT.
International Finance Corporation granted a loan to Punj Lloyd Upstream Limited, with Punj Lloyd Limited as guarantor.
NCLT initiated CIRP against Marg Limited at the instance of ICICI, which was later allowed to be withdrawn due to a settlement.
NCLT initiated CIRP against Greengrow Commercial Pvt Ltd, which was challenged by its ex-director, Bijay Kumar Agarwal.
…NCLT, Principal Bench,…
CIRP initiated against…