Companies Act
Power to Lift the Corporate Veil during Execution of Arbitral Awards
by John Vithayathil*
The Stakeholder Conundrum: Navigating the Efficacy of ESG Litigation in India
by Yash Arjariya* and Sarah Unhelkar**
Protection of minority shareholder rights | NCLT lays down structured buy-out mechanism to resolve deadlock between shareholders
The NCLT gave the first right to buy shares to the petitioners and then the Deccan Group. If neither party purchased the other’s shares, the NCLT would consider winding up the company under Section 242(1)(b) of the Companies Act.
Supreme Court’s Ruling in China Development Bank Creates Further Confusion on Third-Party Securities
by Prachi Johri* and Rishi Thakur**
Corporate Whistleblowing: Are We There Yet?
by Prachi Dutta*
NCLAT upholds Central government’s takeover of Delhi Gymkhana Club; directs conduct of elections for management restoration
The NCLAT noted that the NCLT had not delegated its jurisdiction to the 15-member committee but tasked the committee to act under the NCLT’s oversight, ensuring compliance with its guidance and observations.
2024 SCC Vol. 8 Part 5
Cap of stamp duty of Rs 25 lakhs on increase in share capital under the Bombay Stamp Act, 1958
Section 245 — The Road Less Travelled
by Urvashi Misra* and Anant Narayan Misra**
Govt introduces e-adjudication Platform vide Companies (Adjudication of Penalties) Amendment Rules, 2024
MCA directs that all proceedings from 16-9-2024 will be done electronically.
Inter-Corporate Loans and Deposits: Treatment of Such Debts in Case of Default
by Sidharth Sethi† and Shreya Sircar††
Absence of specific waiver provision indicates Legislative Intent to strictly follow Section 43 of LLP Act: NCLT
“A provision vesting “inherent powers” on a Court or Tribunal are to be used sparingly and should not be used to imply and read in substantive powers where the statue itself does not prescribe such powers.”
Procedural orders directing consolidation of related petitions not appealable under Section 421 of Companies Act: NCLAT
The NCLAT criticized the appellants for unnecessarily burdening the Tribunal with excessive documentation, voluminous records and citations of little value, thereby wasting Tribunal’s resources and acting contrary to professional ethics.
NCLT restrains Byju’s from utilising funds collected on second rights issue until disposal of mismanagement petition
The NCLT ordered the respondents to maintain the status quo regarding existing shareholders and their shareholding.
2024 SCC Vol. 4 Part 5
Arbitration and Conciliation Act, 1996 — Ss. 34 and 37 r/w Ss. 2(4) and 16 — Jurisdiction of arbitrator to adjudicate under
‘Proceedings still at a nascent stage’; Delhi High Court transfers case for winding up of company to NCLT
The Delhi High Court said that the winding up proceedings which have not progressed to an advanced stage before the High Courts, ought to be transferred to the NCLT.