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The democratic principles of the determinative role of majority opinion are enshrined in the IBC, and objections by a minority within a class, when the majority has approved a resolution plan, have no legal standing.
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The Air Quality Bulletins showed that there are various cities where the air quality index has dipped to ‘very poor’ or even to ‘severe’ stage.
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It is the duty of the auditor to conduct audit with professional skepticism and due diligence and report their opinions in an unbiased manner and the same was not done in this case.
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“The ‘Bank Guarantee’ is a ‘contract of Guarantee’ provided/furnished by the Bank, the “surety”, to perform the ‘promise’, or ‘discharge’ the liability, of the third person, being the Corporate Debtor herein, in case of his ‘default’.”
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The Adjudicating Authority erred in passing the impugned order, directing the imposition fine, overlooking the law of the land through the Insolvency and Bankruptcy Code, 2016.
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Securities and Exchange Board of India: In the instant matter, Mohammad Nasiruddin Ansari was alleged to have induced / influenced investors to
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“The use of firecrackers in cities/towns where air quality is ‘moderate’ or below was restricted to only green crackers only and for duration of not more than two hours and only for celebration of any specified festival or occasion”.
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The Commission stated that the treating doctor is the best judge in a case where multiple options/ tests are available in respect of a particular ailment.
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Limitation shall commence from the date when order is passed and shall not depend on the date when Appellant came to know of the order.
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Details of the Sewage Treatment Plants, drains discharging both treated waste water and untreated waste water, steps taken for utilization of the treated waste water for agriculture, etc. lacked in the status report.
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NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.
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NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.
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In the instant matter, the appellant claimed to be a Financial Creditor as their name was included in the balance sheet of the Corporate Debtor.
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The Liquidator should endeavor to sell the Corporate Debtor as a going concern in the Liquidation Proceeding, and the appellant may participate by submitting its plan.
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NCLT’s order did not contain specific findings regarding whether the entire loan amount had been paid and whether nothing remained due.
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NCLAT observed that the issue raised by the appellant, while attractive, no longer had relevance after the closure of the CIRP proceedings.
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“Complainant had levelled the very serious allegations vis-a-vis the quality of the cake, and that too on the same day when the cake was consumed. Thus, a heavy duty was cast upon the bakers, who claimed themselves to be equipped with appropriate laboratory facility, to get the sample of the cake tested”.
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The merchant banker responsible for providing fair opinion to the ABC was given clean chit of the allegations of insider trading for lack of substantial evidence.
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“Intentional exercise of a choice between the alternatives bars the persons making the choice from the benefit of the one not selected on the principle of ‘estoppel by election’.”
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NCDRC remarked that the argument of dissolution of joint venture agreement relieving obligations of one of the opposite parties was misconceived and could not be accepted.
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