Calcutta HC: On approval of the resolution plan in terms of Section 31 of the IBC, the dues includin...g the statutory dues of the Government or local authority, if not part of the resolution plan, gets extinguished and no proceedings in respect thereof for a period prior to the date of approval under Section 31 would continue show more

Calcutta HC: The fact that the petitioner has chosen to stand outside the winding-up proceeding does... not mean that the petitioner is not a party within the meaning of Section 434 (1) (c) of the Act or is disentitled from making this application. The jurisdictional change brought about in the amended Section 434 (1) (c) makes it clear that it is now obligatory for the Court (in the absence of any irreversible or exceptional circumstances) to transfer the proceedings to the NCLT show more

P&H High Court: In view of settled legal position, it is not the function of this Court to sit i...n judgment over a matter of economic policy though, the Court might feel that a different policy would have been fairer or wiser or more scientific or more logical when such policy is not patently arbitrary, discriminatory or mala fide show more

Rajasthan High Court: All demands raised by the Department for the date prior to the taking over of ...the sick unit under the Resolution Plan have been disposed of, the appeals pending before the Tax Board became infructuous as the liability of the successful Resolution Applicant, i.e. the petitioner herein, qua the Commercial Taxes Department stood extinguished beyond what has been quantified by the Tribunal show more

Gujarat High Court: Undecided claim of the operational creditors stands extinguished by the scheme o...f rehabilitation/revival approved by the committee of the creditors which came to be approved by the Hon’ble Supreme Court show more

High Court, Bombay - The proceedings under section 138 of the NI Act would not fall within the purvi...ew of section 14 of the IBC Code show more

High Court, New Delhi - Disqualification of the director u/s 164(2) preceding the statutory amendmen...t to Section 164(2)(a) w.e.f. 07.05.2018 is not validshow more

When a statutory forum is created by law for redressal of grievances, a writ petition should not be ...entertained ignoring the statutory dispensation. Companies Act is a complete code hence statutory mechanism under it cannot be bypassed. Filing of company petition under Section 241(2) is not dependent on filing of the chargesheet in the complaintshow more

The Calcutta High Court quashed a criminal case against a company for non-issuance of duplicate shar...e certificate and cheating. The Hon’ble Court observed that when the shares were issued against a consideration, loss or misplacement of such shares by the Opposite Party is considered to be a "subsequent event" and cannot be contemplated by the company at the time of issuance of the shares.show more

The Delhi High Court observed that a jurisdictional objection under Section 16 of the Arbitration an...d Conciliation Act by its very nature would be one which has to be raised at inception. The Court also observed that under the scheme of the Act, such an objection has to be raised with a "sense of urgency". The Hon’ble Court observed that “such dispensation would be favoured especially in order to ensure that parties to whom the arbitral proceedings may not even be applicable are not entangled to long drawn arbitral proceedings with substantial costs being incurred."show more

In the given case the Central enactment was based on State Law. Other contradicting case law relatin...g to rubber plantations have been made in the past which were included in agricultural activity. Hence, there is ambiguity on whether plantations can be considered under agriculture land and excluded from SARFAESI Act. However, this case has been challenged in the Supreme Court of India and hopefully the order shall clear most of the ambiguity about this matter.show more

Indian Trading Company Case Law has a contrary view and there were many contradicting views for this... matter. However, this case law has brought some light on the same and states that all the orders terminating the arbitration proceedings won’t be considered as awards and the same can be challenged further.show more