Cases Reported in Comp Cas| Latest Cases on Company Laws
Explore the latest cases reported in SCC’s Company Cases (Comp Cas) Volume on Insolvency Resolution, Winding up and Liquidation, Moratorium, Dissolution of Company, and much more.
winding up
Bombay High Court| Claim cannot be rejected simply because prior permission of Liquidator was not taken for rendering emergency services
Bombay High Court observed that the ship was guarded by the applicant on the guidance of Board of Trustees of the Port of Mumbai and there is no reason why the Official Liquidator shall later drag its feet in disbursing the amount as per the invoice which has been already declared genuine.
Calcutta High Court | ROC can initiate multiple/ parallel proceedings upon discovery of additional material warranting inquiry under Section 206 of Companies Act
Calcutta High Court | While dismissing a writ petition challenging the capacity of Registrar of Companies (ROC) to initiate multiple/
Kar HC | Interplay between IBC and Companies Act regarding winding up petitions; Court decides in matter of transfer of company petition to NCLT
Karnataka High Court: S. Sunil Dutt Yadav, J., decided in the matter of a petition which was filed praying to transfer a
Decoding Winding up by Special Resolution under the Companies Act, 2013
by Saai Sudharsan Sathiyamoorthy and Chandramouli Prabhakar*
Consent by majority of unit holders necessary when trustees decide to wind up Mutual Fund Scheme; SEBI (Mutual Funds) Regulations not arbitrary; Reg. 53 is ‘grey area’: SC in sequel to Franklin Templeton matter
Supreme Court: In a sequel to its earlier order directing winding up of six mutual fund schemes of Franklin Templeton Mutual Fund,
Application under S. 7 or S. 9 IBC is an independent proceeding unaffected by winding up proceedings that may be filed qua the same company; Supreme Court
Supreme Court: The Division Bench of Rohinton Fali Nariman* and B.R. Gavai, JJ., addressed the instant appeal involving the question that whether
E-voting for winding up of Franklin Templeton’s 6 units valid; Consent of unitholders is consent by majority of unitholders who participated in the poll: Supreme Court
Supreme Court: In the case relating to winding up of six schemes of the Franklin Templeton Mutual Fund, the bench of SA
Winding Up v. The Insolvency and Bankruptcy Code, 2016
by Amir Arsiwala* & Ishan J Ravindranath**
Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC
Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.
Companies (Winding Up) Rules, 2020 — Notified by Ministry of Corporate Affairs [Read Notification]
Ministry of Corporate Affairs notifies — Companies (Winding-Up) Rules, 2020 through Notification No. G.S.R. 46(E). The notification has been divided into 6
Central Govt. orders winding up of Adarsh Credit Cooperative Society Ltd., Ahmedabad and appoints a liquidator
The Central Registrar of Cooperative Societies, Department of Agriculture, Cooperation and Farmers’ Welfare, Ministry of Agriculture and Farmers’ Welfare, Government of India
SC| Secured creditor can file winding up petition even after obtaining a recovery certificate from DRT
Supreme Court: In a case dealing with companies defaulting a loan of Rs. 48 Crores including interest from Kotak Mahindra Bank, the
NCLT not to entertain application under Section 9 I&B Code before expiry of 10 days from date of giving notice under Section 8(1): NCLAT
National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial)
Winding up of ‘Collective Investment Scheme’ ordered for contravention of Section 12(1b) SEBI Act
Securities and Exchange Board of India (SEBI): The whole time member of SEBI, G.Mahalingam in accordance to the interim order given earlier
No pecuniary liability arises in cases of breach of contract until the courts determine that there exists an entitlement to damages
Hyderabad High Court: While deciding the instant appeal under Section 483 of the Companies Act, 1956 read with Clause 15 of the
Pending winding up petitions of companies which have not been served before High Court shall stand transferred to National Company Law Tribunal
Bombay High Court: In a case dealing with petitions pending admission before the High Court filed under the Companies Act, 1956 where
No proceedings against the assets of the company can be taken before any decision is taken by the BIFR
Supreme Court : While dealing with the issue relating to jurisdiction of BIFR in winding up proceedings, the Court held that winding