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Facts: Vasan Healthcare Pvt Ltd (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP). Thereafter, the resolution plan submitted by ASG Hospital Pvt Limited (Respondent No.2) was approved by the Committee of Creditors (CoC) and subsequently by the National Company Law Tribunal (Adjudicating Authority) vide an order dated 3rd February, 2023 (Impugned Order).
Facts: An Engineering, Procurement and Construction Contract was entered into between M/s. Oasis Project Ltd (Petitioner) and National Highway and Infrastructure Development Corporation Limited (Respondent). Thereafter, disputes arose between the parties pursuant to notice of termination of the contract dated 17th August, 2022 by the Petitioner and the notice for intention to terminate the contract dated 16th November, 2022 issued by the Respondent.
Facts Decision In an appeal filed in Siti Networks Ltd v Assets Care and Reconstruction Enterprises Ltd & Anr, the National Company Law Appellate Tribunal (NCLAT) bench of Delhi held that neither the Insolvency and Bankruptcy Code (IBC) 2016 nor any other regulation prohibited an assignee from continuing a proceeding. Facts On 6 September 2016, Housing Development Finance Corporation Limited (the financial creditor) sanctioned a loan to Siti Networks Ltd (the corporate debtor).
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