{"id":241400,"date":"2020-12-28T15:15:34","date_gmt":"2020-12-28T09:45:34","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=241400"},"modified":"2020-12-28T14:24:25","modified_gmt":"2020-12-28T08:54:25","slug":"2020-scc-vol-8-part-2","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/28\/2020-scc-vol-8-part-2\/","title":{"rendered":"2020 SCC Vol. 8 Part 2"},"content":{"rendered":"

Insolvency and Bankruptcy Code, 2016 \u2014 S. 43 \u2014 Preferential nature of transactions \u2014 Determination\/Identification of: <\/strong>Satisfaction of three fold requirements i.e. (I) Twin requirements of S. 43(2); (II) \u201cRelevant time\u201d requirement of S. 43(4); and (III) Non-satisfaction of\/being outside the ambit of exclusions carved out in S. 43(3), is necessary for \u201cpreferential transaction\u201d to be considered as offending and thereby subject to consequences provided therefore. Intention to enter into preferential transaction is irrelevant in view of deeming provision. Exclusion from the purview of preferential transaction is not permissible where transferee alone is acting in the ordinary course of its business or financial affairs. Jaypee Infratech Ltd. [Interim Resolution Professional v. Axis Bank Ltd., (2020) 8 SCC 401<\/a>]<\/p>\n

Mines and Minerals \u2014 Illegal mining: <\/strong>Directions and conditions for condonation of delay in payment of compensation and interest as per directions in (2017) 9 SCC 499<\/a>, resumption of mining and sale of undisposed stock, issued. [Common Cause v. Union Of India, (2020) 8 SCC 399<\/a>]<\/p>\n

Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 \u2014 S. 24(2) \u2014 Deemed lapse of 1894 Act acquisition proceedings under \u2014 When occasioned \u2014 Law clarified:<\/strong> Deemed lapse of proceedings initiated under 1894 Act is occasioned where award under S. 11 of the 1894 Act has been made five years or more prior to date of commencement of the 2013 Act, and the two conditions specified in S. 24(2) are cumulatively <\/em>satisfied i.e. (A) possession of the acquired land has not been taken, and <\/em>(B) compensation has not been paid. Even if one of these two conditions is not satisfied, the 1894 Act acquisition proceedings shall not lapse. Word \u201cor\u201d used in S. 24(2) between the abovesaid two conditions in S. 24(2) has to be read as \u201cnor\u201d or as \u201cand\u201d. This is because where two negative conditions or two prohibitions are coupled by the word \u201cor\u201d, the said \u201cor\u201d has to be read as \u201cand\u201d or \u201cnor\u201d. If possession taken, but compensation not paid then there would be no lapse. If compensation paid, but possession not taken then also there would be no lapse. [Indore Development Authority (Lapse 5J) v. Manoharlal, (2020) 8 SCC 129<\/a>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Insolvency and Bankruptcy Code, 2016 \u2014 S. 43 \u2014 Preferential nature of transactions \u2014 Determination\/Identification of: Satisfaction of three fold requirements i.e. <\/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":[4751,44639,26884,29785,11411],"class_list":["post-241400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casesreported","category-supremecourtcases","tag-scc","tag-2020-scc-vol-8-part-2","tag-cases-reported","tag-law","tag-supreme-court-cases"],"yoast_head":"\n2020 SCC Vol. 8 Part 2 | 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\" 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The preferential allotment was undertaken for an amount aggregating to INR 3908 crores.\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Indiabulls Real Estate Limited","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/06\/Indiabulls-Real-Estate-Limited.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/06\/Indiabulls-Real-Estate-Limited.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/06\/Indiabulls-Real-Estate-Limited.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/06\/Indiabulls-Real-Estate-Limited.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":379840,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/03\/31\/cam-advises-nhit-fifth-fundraise-institutional-placement-preferential-allotment\/","url_meta":{"origin":241400,"position":2},"title":"CAM acted as counsel to the lead managers on NHIT\u2019s fifth fundraise comprising a \u20b924,688 Mn institutional placement and a \u20b96,172 Mn preferential allotment","author":"Editor","date":"March 31, 2026","format":false,"excerpt":"The transaction strengthens National Highways Infra Trust\u2019s role in advancing India\u2019s National Monetisation Pipeline and infrastructure investment landscape.","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"CAM NHIT Preferential Allotment Advisory","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CAM-NHIT-Preferential-Allotment-Advisory.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CAM-NHIT-Preferential-Allotment-Advisory.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CAM-NHIT-Preferential-Allotment-Advisory.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CAM-NHIT-Preferential-Allotment-Advisory.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":270644,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/26\/gauhati-high-court-cousin-not-a-family-member-cannot-be-considered-for-preferential-appointment-under-assam-public-services-preferential-appointment-rules-1999\/","url_meta":{"origin":241400,"position":3},"title":"Gauhati High Court| \u2018Cousin\u2019 not a family member; cannot be considered for Preferential Appointment under Assam Public Services (Preferential Appointment) Rules, 1999","author":"Editor","date":"July 26, 2022","format":false,"excerpt":"Gauhati High Court: The single Bench of Michael Zothankhuma, J., disposed of the writ petition and held that a cousin cannot be included within the definition of \u2018member of family\u2019 under the provisions of Assam Public Services (Preferential Appointment) Rules, 1999 (hereinafter as APS Rules, 1999). A writ petition was\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\/2022\/07\/gauhati_high_court-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/gauhati_high_court-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/gauhati_high_court-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/gauhati_high_court-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/07\/gauhati_high_court-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":297649,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/26\/preference-and-exclusion-transfers-made-ordinary-course-of-business-under-ibc-2016\/","url_meta":{"origin":241400,"position":4},"title":"Preference and the Exclusion of Transfers Made in the \u201cOrdinary Course of Business\u201d Under the Insolvency and Bankruptcy Code, 2016","author":"Bhumika Indulia","date":"July 26, 2023","format":false,"excerpt":"by Sriram Venkatavaradan and Saai Sudharsan Sathiyamoorthy\u2020","rel":"","context":"In "OP. ED."","block_context":{"text":"OP. ED.","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/"},"img":{"alt_text":"ordinary course of business","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/ordinary-course-of-business.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/ordinary-course-of-business.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/ordinary-course-of-business.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/07\/ordinary-course-of-business.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":348725,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/05\/26\/single-homebuyer-cant-challenge-coc-approved-resolution-plan-nclat-upholds-cocs-commercial-wisdom-scc-times\/","url_meta":{"origin":241400,"position":5},"title":"\u2018Single Homebuyer can\u2019t challenge CoC approved Resolution Plan\u2019; NCLAT upholds CoC\u2019s commercial wisdom","author":"Ritu","date":"May 26, 2025","format":false,"excerpt":"The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.\u201d","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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/241400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=241400"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/241400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/182154"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=241400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=241400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=241400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}