Cases Reported in Comp Cas| Latest Cases on Company Law

Corporate Laws — Company Law — Winding up and Liquidation — Premises taken by company in liquidation on monthly rent basis — Application by landlord to hand over premises — Held, premises not required for purpose of winding up and liquidation process — Direction to hand over premises [Jaikishan Narang, HUF, In re, (2025) 255 Comp Cas 1]

Constitutional Law — Writs — Maintainability — Securities Appellate Tribunal dismissing appeal on ground of limitation — Writ petition against dismissal — Tribunal refusing to condone delay in its discretionary power — Held, nothing to suggest violation of principles of natural justice or non-compliance of statutory requirements in any manner — Petition not maintainable [Bikash Kumar v. SEBI, (2025) 255 Comp Cas 49]

Insolvency and Bankruptcy Laws — Moratorium — Offences and prosecution — Dishonour of cheque — Corporate debtor undergoing corporate insolvency resolution process covered by moratorium — Held, proceedings against corporate debtor to be deferred till moratorium lifted — Moratorium not applicable to natural persons [Carnival Films (P) Ltd. v. State of Kerala, (2025) 255 Comp Cas 179]

Corporate Laws — Company Law — Winding up and Liquidation — Prohibitory order by RBI restraining alienation of property and assets by company without written assent — Purchasers claiming rights in shares sold by company — Original share certificates along with transfer deeds in possession of purchasers — Matter remanded to find when transfer of respective shares and to whom consideration for these shares paid [CRB Capital Markets Ltd. v. Anoop Jain, (2025) 255 Comp Cas 188]

Insolvency and bankruptcy laws — Moratorium — Effect of — Writ — Insolvency resolution — Initiation of reassessment proceeding under Income Tax Act, 1961 — Held, failure to provide assessee with complete access to third party statements and materials relied on — Direction not to initiate proceedings during moratorium [McNally Bharat Engineering Co. Ltd. v. Union of India, (2025) 255 Comp Cas 346]

Debt, financial and monetary laws — Banks — Banking business — Deposit — Enforcement of security interest — Mortgage — Appeal by borrower against order of Tribunal — Pre-deposit — Held, no reason to restrict determination of debt as claimed, only on basis of notice — Directions given [Prime Downtown Estates (P) Ltd. v. Omkara Assets Reconstruction Co. (P) Ltd., (2025) 255 Comp Cas 501]

Debt, financial and monetary laws — Deposit Insurance and Credit Guarantee — Export Credit Guarantee — Bank — Time limit for submission of export documents — Export credit not disqualified if export documents prove timely exports despite delayed submission — Held, delay in submission of export documents not fatal — Vital aspect being materialisation of exports within stipulated period — Bank to rectify reversal of subvention pertaining to first lot [Jindal Cocoa LLP v. RBI, (2025) 255 Comp Cas 520]

Debt, financial and monetary laws — Debt, Debt Recovery and Relief — Debt— Enforcement of security interest — Demand notice issued to borrower and its guarantors, recalling outstanding dues — Application dismissed for non-prosecution by order of Chief Metropolitan Magistrate — Held, bank was not diligently pursuing its remedies — Secured assets allowed to be pilfered away by bank without any timely checks —Petition dismissed [SBI v. P.P. Jewellers (P) Ltd., (2025) 255 Comp Cas 635]

Corporate Laws — Company Law — Offences and prosecutions — Failure to hold annual general meeting and file financial statement within prescribed time — Extension of time — Held, not tantamount to extension of time for holding annual general meeting — Delay in holding meeting — Penalty calculated for delay not from date of meeting but with effect from original date for filing documents [Ramakant & Co. (P) Ltd. v. Union of India, (2025) 255 Comp Cas 753]