{"id":362627,"date":"2025-10-05T11:00:43","date_gmt":"2025-10-05T05:30:43","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=362627"},"modified":"2025-10-04T17:52:54","modified_gmt":"2025-10-04T12:22:54","slug":"latest-cases-company-laws-comp-cas-5","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/10\/05\/latest-cases-company-laws-comp-cas-5\/","title":{"rendered":"Cases Reported in Comp Cas| Latest Cases on Company Laws"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">Stay informed about the latest case laws on Company Law with this comprehensive overview as we delve into the latest cases reported in the Company Cases (Comp Cas), focusing on critical issues such as Resolution plan, Moratorium, winding up and liquidation, Directors, Notice and Banking business.<\/p>\n<p style=\"text-align: center; font-weight: bold;\">(2025) 253 Comp Cas<\/p>\n<div style=\"background-color: #e6eeff; border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Corporate Laws &#8212; Company Law &#8212; Directors<\/span> &#8212; Serious Fraud Investigation &#8212; Look out circular against erstwhile promoter-director of company under investigation by Serious Fraud Investigation Office &#8212; Failure to come to court with clean hands and that by itself disentitling him to grant of any discretionary relief &#8212; <span style=\"font-style: italic;\">Held<\/span>, paramount to National interest and interests of stakeholders who have been deprived of their hard earned investments in company and other companies to be safeguard &#8212; Denial by special judge to suspend look out circular and permission to go abroad to be affirmed [<span style=\"font-style: italic;\">Shivinder Mohan Singh v. SFIO<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/khpskJ23\" target=\"_blank\">(2025) 253 Comp Cas 379<\/a>]<\/p>\n<\/div>\n<div style=\"border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Corporate Laws &#8212; Company Law &#8212;Winding up and Liquidation<\/span> &#8212; Proof of claims to be filed before liquidator &#8212; Application to release amount &#8212; Allegations that incompetent and unprofessional advice given to it by erstwhile counsel &#8212; <span style=\"font-style: italic;\">Held<\/span>, failure by creditor to comply with formalities and eventually waiving rights in lieu of placing a claim before official liquidator &#8212; Amount deposited should be utilised for satisfying claims of secured creditors &#8212; Creditor at liberty to submit claim before liquidator [<span style=\"font-style: italic;\">Usha Jain v. Vigneshwara Developwell (P) Ltd<\/span>., <a href=\"http:\/\/www.scconline.com\/DocumentLink\/5cq5bJdO\" target=\"_blank\">(2025) 253 Comp Cas 485<\/a>]<\/p>\n<\/div>\n<div style=\"background-color: #e6eeff; border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Insolvency and Bankruptcy Laws &#8212; Corporate Insolvency<\/span> &#8212; Liquidation &#8212; Recovery of statutory dues &#8212; Acquisition of corporate debtor as going concern &#8212; No legal proceedings can be instituted by or against corporate debtor after liquidation order &#8212; Claim of Department extinguished upon approval of acquisition of corporate debtor as going concern and issuance of sale certificate &#8212; <span style=\"font-style: italic;\">Held<\/span>, direction to concerned authority to remove charge on corporate debtor&#8217;s property from revenue records [<span style=\"font-style: italic;\">Su-Kam Power System Ltd. v. State of H.P<\/span>., <a href=\"http:\/\/www.scconline.com\/DocumentLink\/34cp6VnJ\" target=\"_blank\">(2025) 253 Comp Cas 511<\/a>]<\/p>\n<\/div>\n<div style=\"border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Corporate Laws &#8212; Company Law &#8212; Offences and prosecution<\/span> &#8212; Wrongful withholding of company&#8217;s property &#8212; Petition to quash proceedings &#8212; <span style=\"font-style: italic;\">Held<\/span>, Trial Court to decide case on its merits &#8212; Order of rejection of discharge from case by Magistrate Court &#8212; Proper [<span style=\"font-style: italic;\">Meeta Bansal v. State of W.B<\/span>., <a href=\"http:\/\/www.scconline.com\/DocumentLink\/vV4Vv84o\" target=\"_blank\">(2025) 253 Comp Cas 697<\/a>]<\/p>\n<\/div>\n<div style=\"background-color: #e6eeff; border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Corporate Laws &#8212; Company Law &#8212; Notice<\/span> &#8212; Show-cause notice &#8212; Transaction in securities &#8212; Securities and Exchange Board of India &#8212; Writ &#8212; Res judicata &#8212; Challenging on ground that delay and laches in issuance of show-cause notice &#8212; <span style=\"font-style: italic;\">Held<\/span>, no case made out showing delay or laches &#8212; Writ petition dismissed <span style=\"font-style: italic;\">[Nalwa Sons Investments Ltd. v. SEBI<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/l739jU19\" target=\"_blank\">(2025) 253 Comp Cas 776<\/a>]<\/p>\n<\/div>\n<p style=\"text-align: center; font-weight: bold;\">(2025) 252 Comp Cas<\/p>\n<div style=\"border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Insolvency and bankruptcy laws &#8212; Corporate Insolvency<\/span> &#8212; Moratorium &#8212; Effect &#8212; Prevention of money-laundering &#8212; Provisional attachment of property &#8212; Power to attach or confiscate ceases only on approval of resolution plan or on initiation of liquidation proceedings &#8212; <span style=\"font-style: italic;\">Held<\/span>, orders of provisional attachment and confirmation under Act not interfered with &#8212; Resolution professional can seek release of provisionally attached property in accordance with law [<span style=\"font-style: italic;\">Rajiv Chakraborty v. Enforcement Directorate<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/x58raV47\" target=\"_blank\">(2024) 252 Comp Cas 12<\/a>]<\/p>\n<\/div>\n<div style=\"background-color: #e6eeff; border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Insolvency and bankruptcy laws &#8212; Corporate Insolvency<\/span>&#8212; Assets of corporate debtor &#8212; Assets sold during liquidation proceedings &#8212;<span style=\"font-style: italic;\">Held<\/span>, no material to form &#8220;reason to believe&#8221; that properties acquired by auction purchaser were proceeds of crime &#8212; Provisional attachment order passed on mere suspicion set aside [<span style=\"font-style: italic;\">Welspun Steel Resources (P) Ltd. v. Union of India<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/2yYlK16n\" target=\"_blank\">(2024) 252 Comp Cas 130<\/a>]<\/p>\n<\/div>\n<div style=\"border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Insolvency and bankruptcy laws &#8212; Corporate Insolvency<\/span> &#8212; Insolvency resolution &#8212; Proceedings initiated against personal guarantor &#8212; Writ to quash demand notice &#8212; <span style=\"font-style: italic;\">Held<\/span>, not maintainable [<span style=\"font-style: italic;\">Vineet Saraf v. Rural Electrification Corpn. Ltd<\/span>., <a href=\"http:\/\/www.scconline.com\/DocumentLink\/SE6f3LMM\" target=\"_blank\">(2024) 252 Comp Cas 499<\/a>]<\/p>\n<\/div>\n<div style=\"background-color: #e6eeff; border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Insolvency and bankruptcy laws &#8212; Corporate Insolvency<\/span> &#8212; Insolvency resolution &#8212; Overriding effect of Code &#8212; Attachment of assets sold during liquidation proceedings &#8212; Protection granted under Sections 33(5) and 32A(2) of Code would override power of Adjudicating Authority under Act to attach properties &#8212; <span style=\"font-style: italic;\">Held<\/span>, orders passed without jurisdiction to be set aside [<span style=\"font-style: italic;\">AM Mining India (P) Ltd. v. Union of India<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/L33luk1w\" target=\"_blank\">(2024) 252 Comp Cas 557<\/a>]<\/p>\n<\/div>\n<div style=\"border-bottom: 1px solid black; border-bottom-style: dashed;\">\n<p style=\"margin-bottom: 3%;\"><span style=\"font-weight: bold;\">Debt, financial and monetary laws &#8212; Banking business &#8212; Banker and customer<\/span> &#8212; Declaration as wilful defaulter &#8212; Show-cause notice and decision of wilful defaulter identification committee solely relying on transaction audit report &#8212; Review committee mechanical grouping list of borrowers and affirming of wilful defaulter declaration ignoring natural justice and master circular &#8212; <span style=\"font-style: italic;\">Held<\/span>, failure by review committee to pass reasoned order &#8212; Decisions of both committees declaring borrowers as wilful defaulters to be reversed [<span style=\"font-style: italic;\">Vishambhar Saran v. Central Bank of India<\/span>, <a href=\"http:\/\/www.scconline.com\/DocumentLink\/F5HfV5Jf\" target=\"_blank\">(2024) 252 Comp Cas 798<\/a>]<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">Explore the latest cases reported in SCC&#8217;s Company Cases (Comp Cas) Volume on Resolution plan, Moratorium, Winding up and Liquidation, Directors, Notice, Banking business and much more.<\/p>\n","protected":false},"author":67523,"featured_media":362628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,83894],"tags":[15991,71958,83948,61437,31367,56040,22074,3659,30228,88554],"class_list":["post-362627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casesreported","category-company-law-cases","tag-banking-business","tag-cases-reported-in-hcc","tag-comp-cas","tag-company-laws","tag-directors","tag-high-court-cases","tag-moratorium","tag-notice","tag-resolution-plan","tag-winding-up-and-liquidation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Comp Cas: Latest Cases on Company Laws | SCC Times<\/title>\n<meta name=\"description\" content=\"Explore the latest Cases reported 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