
No embargo on Operational Creditor to file application u/S 9 IBC, even if agreement has an arbitration clause: NCLAT
The scope and objective of the Code is ‘Resolution’, and not a ‘Recovery Mode / Forum’.
Continue readingThe scope and objective of the Code is ‘Resolution’, and not a ‘Recovery Mode / Forum’.
Continue reading“…penalty @1% of the turnover for each year of continuance of the cartel would be appropriate penalty in keeping with the extent and seriousness proportionality of the anti-competitive behavior of Geep Industries.”.
Continue readingNational Green Tribunal said that the State has to take precautions to prevent such incidents in future, apart from paying compensation with liberty to recover the same from the entity.
Continue readingThe National Company Law Appellate Tribunal held that no pre-existing dispute regarding quality of supplied goods exist as the same was not raised before consumption of the goods.
Continue readingNCLAT held that the application preferred by the appellants in the second appeal under S. 7 IBC has rightly been held to be not maintainable and was rightly relegated to avail their remedy of filing the application under S. 9 IBC in relation to invoice discounting of the receivables by the seller.
Continue readingIf the business entity involved in hazardous activities fails to pay compensation, the State is liable to pay for the failure to ensure safety. Citizens are entitled to safety from hazards of business activities having potential for incidents which may cause death and injuries.
Continue readingNCLAT held that that the allocation of meagre amount in Resolution Plan to Creditors can be questioned when the plan value earmarked for them is less than the liquidation value but same is not the case in instant matter.
Continue readingIt is a trite law that the reasons, as recorded for reopening the reassessment, are to be examined on a standalone basis to determine the validity of proceedings under section 147 IT Act.
Continue readingNational Company Law Appellate Tribunal observed that as per S. 61(2) every appeal must be filed within 30 days before the Appellate Tribunal and the Appellate Tribunal has the jurisdiction to extend the period of 15 days if it is satisfied that there is a sufficient cause for not filing the appeal within the prescribed time.
Continue readingNGT said that though basic liability is of violator of law, where law violator is not made to pay compensation, the State is liable to pay compensation as per its duty as a welfare State
Continue readingSecurities Appellate Tribunal: In the instant appeal filed against the ex parte ad-interim order passed by the Whole Time Members (WTM) of
Continue readingThe Tribunal while upholding the impugned order passed by CCI dated 20-10-2022, set aside 4 key directions issued in paragraphs 617.3, 617.9, 617.10 and 617.7.
Continue readingThe Tribunal observed that the act of filling in 2 applications for one and the same post in more than one Unit cannot be accepted to be an inadvertent or innocent act.
Continue readingThe NCLAT held that even after completion of challenge mechanism under CIRP Regulation 39(1A)(b), the CoC retains its jurisdiction to negotiate with one or other Resolution Applicants, or to annul the Resolution Process and embark on to re-issue RFRP.
Continue readingITAT held that the second proviso to Clause (i) of Section 40(a) just like second proviso to clause (ia) of Section 40(a) was inserted to remove an anomaly and were therefore curative and declaratory in nature. Hence, it had to be given retrospective effect.
Continue readingNCLAT observed that allowing present appeal holding the Successful Resolution Applicant ineligible would automatically make the resolution plan redundant.
Continue readingITAT noted that an identical issue was subject matter of consideration of the Tribunal in assessee’s own case, hence following the precedent, the Tribunal directed that the payment received in this case cannot be treated as FTS under Article 12 (5) of India Netherlands DTAA.
Continue readingThe NCLAT held that there is no law which allows a third party or shareholders to settle the claims of Financial Creditor on behalf of the Corporate Debtor, M/s McDowell Holdings Limited.
Continue readingIn another case of delayed possession of flats by builder in Gurugram, NCDRC directed the builder to compensate the homebuyers for delay and differences of brochure and builder homebuyer agreement.
Continue readingAccepting the exceptionally challenging nature of treatment of high voltage burns, NCDRC held the doctor liable to the extent of performing LD Flap surgery, otherwise recommended to be performed by plastic surgeons.
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