{"id":210517,"date":"2019-02-22T09:00:42","date_gmt":"2019-02-22T03:30:42","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=210517"},"modified":"2019-02-21T16:50:54","modified_gmt":"2019-02-21T11:20:54","slug":"2019-scc-vol-2-february-7-2019-part-1","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/22\/2019-scc-vol-2-february-7-2019-part-1\/","title":{"rendered":"2019 SCC Vol. 2 February 14, 2019 Part 1"},"content":{"rendered":"

Insolvency and Bankruptcy Code, 2016 \u2014 S. 29-A(c) \u2014 Ineligibility to be Resolution applicant: <\/strong>For the purpose of applying sub-section (c) of S. 29-A, the corporate debtor may be under the management of the person referred to in S. 29-A, the corporate debtor may be a person under the control of such person, or the corporate debtor may be a person of whom such person is a promoter. Further, the expression \u201cmanagement\u201d would refer to the de jure management of a corporate debtor and the expression \u201ccontrol\u201d, denotes only positive control, which means that the mere power to block special resolutions of a company cannot amount to control and \u201ccontrol\u201d, as contrasted with \u201cmanagement\u201d, means de facto control of actual management or policy decisions that can be or are in fact taken. Further, in the expression \u201cmanagement or control\u201d, the two words take colour from each other, and thus viewed, what is referred to in clauses (c) and (g) is de jure or de facto proactive or positive control, and not mere negative control. The provision ensures that if a person wishes to submit a resolution plan, and if such person or any person acting jointly or any person in concert with such person, happens to either manage, control, or be promoter of a corporate debtor declared as a nonperforming asset one year before the corporate insolvency resolution process begins, is ineligible to submit a resolution plan. Further, despite the fact that the relevant time for the ineligibility under clause (c) to attach is the time of submission of the resolution plan, antecedent facts reasonably proximate to this point of time can always be seen, to determine whether the persons referred to in S. 29-A are, in substance, seeking to avoid the consequences of the proviso to clause (c) before submitting a resolution plan. [Arcelormittal India Private Ltd. v. Satish Kumar Gupta, (2019) 2 SCC 1<\/a>]<\/p>\n

Telecom Regulatory Authority of India Act, 1997 \u2014 Ss. 11(1)(a) & (b) and 36 \u2014 Regulation of price of TV channels, promotional schemes, bundling i.e. clubbing of channels in a bouquet, etc. by TRAI \u2014 Permissibility of:<\/strong> The provisions of the TRAI Act have to be viewed in the light of protection of the interests of both service providers and consumers and no constricted meaning can be given to the provisions of TRAI Act. Copyright Act will operate within its own sphere, the broadcaster being given full flexibility to either individually or in the form of a society charge royalty or compensation for use of copyright. TRAI, while exercising its regulatory functions under the TRAI Act, does not at all, in substance, impinge upon these rights, but merely acts as a regulator in the public interest. TRAI Act, being a statute conceived in public interest, which is to serve the interest of both broadcasters and consumers, must prevail, to the extent of any inconsistency, over Copyright Act which is an Act which protects the property rights of broadcasters. To the extent royalties\/compensation payable to the broadcasters under the Copyright Act are regulated in public interest by TRAI under the TRAI Act, the former shall give way to the latter.[Star India Private Ltd. v. Department of Industrial Policy & Promotion, (2019) 2 SCC 104<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Insolvency and Bankruptcy Code, 2016 \u2014 S. 29-A(c) \u2014 Ineligibility to be Resolution applicant: For the purpose of applying sub-section (c) of <\/p>\n","protected":false},"author":8808,"featured_media":182154,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,16],"tags":[],"class_list":["post-210517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casesreported","category-supremecourtcases"],"yoast_head":"\n2019 SCC Vol. 2 February 14, 2019 Part 1 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/02\/22\/2019-scc-vol-2-february-7-2019-part-1\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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Series of amendments have been laid down in the said Bill. One of the significant insertions that have been brought in the Bill is Insertion of new Section 32 A After Section 32 of the principal Act,\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223553,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/24\/cabinet-approves-promulgation-of-the-insolvency-and-bankruptcy-code-amendment-ordinance-2019\/","url_meta":{"origin":210517,"position":1},"title":"Cabinet approves Promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019","author":"Bhumika Indulia","date":"December 24, 2019","format":false,"excerpt":"The Union Cabinet approved a proposal to promulgate an Ordinance to amend the Insolvency and Bankruptcy Code, 2016. The Amendment will remove certain ambiguities in the Insolvency and Bankruptcy Code, 2016 and ensure smooth implementation of the Code. Under the Amendments, the liability of a corporate debtor for an offence\u2026","rel":"","context":"In "Cabinet Decisions"","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":319373,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/04\/04\/nclat-affirms-nclts-order-that-holding-and-subsidiary-company-merely-shared-management-not-establish-liability-scc-times\/","url_meta":{"origin":210517,"position":2},"title":"\u2018Merely shared management not enough to establish liability\u2019; NCLAT finds claims against Corporate Debtor untenable","author":"Ritu","date":"April 4, 2024","format":false,"excerpt":"The NCLAT warned against manipulating the IBC for debt recovery purposes, as it would defeat the code\u2019s purpose of rehabilitating Corporate Debtors.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Appellate Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/03\/resolution-plan.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":223671,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/30\/president-promulgates-insolvency-and-bankruptcy-code-amendment-ordinance-2019\/","url_meta":{"origin":210517,"position":3},"title":"President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019","author":"Bhumika Indulia","date":"December 30, 2019","format":false,"excerpt":"President on 28-12-2019 promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 to amend the Insolvency and Bankruptcy Code, 2016. Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 was introduced in the House of People on 12-12-2019 though it could not be taken up for consideration. At present, though the\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":200117,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/08\/13\/directors-of-the-corporate-debtor-held-to-be-financial-creditor-against-the-same-company-in-light-of-outstanding-unsecured-debt-nclat\/","url_meta":{"origin":210517,"position":4},"title":"Directors of the \u2018Corporate Debtor\u2019 held to be \u2018Financial Creditor\u2019 against the same company in light of outstanding unsecured debt: NCLAT","author":"Bhumika Indulia","date":"August 13, 2018","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial), dismissed an appeal filed against the judgment of National Company Law Tribunal, New Delhi whereby Respondents 1 and 2 were held to be Financial Creditors. Factual matrix of\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":322814,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/05\/23\/nclt-dismisses-corporate-insolvency-resolution-proceedings-against-syska-led-lights-after-settlement-scc-times\/","url_meta":{"origin":210517,"position":5},"title":"NCLT approves withdrawal of insolvency resolution proceedings against Syska LED Lights after settlement","author":"Ritu","date":"May 23, 2024","format":false,"excerpt":"The NCLT directed the Resolution Professional to hand over control of Syska LED Lights Pvt. 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