AdjudicatingAuthority definition
AdjudicatingAuthority or “NCLT” means the New Delhi Bench of the National Company Law Tribunal. “Affiliate” with respect to any Person shall mean any other Person which, directly or indirectly:(a) Controls such Person; or(b) is Controlled by such Person; or(c) is Controlled by the same Person who, directly or indirectly Controls such Person. “Applicable Laws” means, all applicable laws, regulations, rules, guidelines, circulars, re- enactments, revisions, applications and adaptations thereto, judgments, decrees, injunctions, writs and orders of any court, tribunal, arbitrator or governmental agency or authority, rules, regulations, orders and interpretations of any governmental authority, court or statutory or other body applicable for such transactions including but not limited to the IBC, CIRP Regulations, Companies Act, 1956 / 2013 (as applicable), Competition Act, 2002 , Foreign Exchange Management Act, 1999, , whether in effect as of the date of this RFRP or thereafter and each as amended from time to time. “Approved Resolution Plan” means the Resolution Plan, as approved by the CoC in accordance with Section 30 (4) of the Code and as approved by the Adjudicating Authority in terms of Section 31 of IBC. “Associate Company” has the meaning given to it in the Companies Act, 2013. “Authorized Signatory” in respect of a Prospective Resolution Applicant means a person or persons duly authorized by such Prospective Resolution Applicant (to execute the Resolution Plan (and all ancillary documentation, undertakings, letters, certificates, acceptances, clarifications, guarantees or any other deeds or document as may be required), including all amendments and variations thereto and authorized to negotiate the Resolution Plan and provide representations, information, responses, clarifications to the Resolution Professional or the CoC or the Adjudicating Authority, and generally deal with the Resolution Professional, CoC and Adjudicating Authority with respect to the Resolution Plan. “Business Days” means the days when banks are open for business in New Delhi “ Cash” shall have the meaning set out in Paragraph 3.1.6 (a). “CIRP” means the corporate insolvency resolution process under the provisions of the IBC. “CIRP Period” means the period commencing from the insolvency commencement date of the company and expiring on the date of order of the Adjudicating Authority, either approving the resolution plan for the Company or liquidating the Company. “CIRPRegulations” means the Insolvency ...