NCLT Ahmedabad Approves GAIL India’s Resolution Plan For JBF Petrochemicals

NCLT Ahmedabad has approved a 2079 crore resolution plan of GAIL (India) Limited (“GAIL”) for JBF Petrochemicals under section 31 (1) of the Insolvency and Bankruptcy Code, 2016 (“IBC”). This is the second instance of a state-owned company acquiring a private sector bankrupt company , with the first being Indian Oil Corporation acquiring Mercator under IBC. JBF Petrochemicals...

Corporate Debtor Not Being A Going Concern, Termination Of Essential Raw Material Supply Doesn’t Erode Value Of Assets: NCLT Ahmedabad

The National Company Law Tribunal (“NCLT”), Ahmedabad Bench, comprising of Dr. Madan B. Gosavi (Judicial Member) and Shri Ajai Das Mehrotra (Technical Member), while adjudicating a petition filed in Sundaresh Bhat v Mangalore Refinery and Petrochemicals Limited, has held that Section 14 of IBC seeks to preserve the ‘going concern’ status ‘if’ the Corporate Debtor is...

Habeas Plea Claims Alleged Khalistani Sympathiser Detained Illegally By State Police, High Court Issues Notice To Punjab Govt

The Punjab and Haryana High Court on Sunday issued notice to the Punjab Government on a habeas corpus plea moved before it seeking the production/release of alleged separatist leader and chief of 'Waris Punjab De' organization, Amritpal Singh.The bench of Justice NS Shekhawat issued this notice on a plea moved by one Imaan Singh Khara, legal advisor of 'Waris Punjab De', claiming that Singh...

Length Of Delay Immaterial, Reason Stated For Condonation Matter: NCLT Hyderabad Reiterates

The National Company Law Tribunal, Hyderabad Bench, comprising Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating an application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) by the Deputy Director, Employees State Insurance Corporation in Asset Reconstruction Company (India) Limited...

'Hare-Brained Petition' : Supreme Court Dismisses Plea Seeking Registration Of Live-In Relationships

The Supreme Court on Monday expressed surprise at a PIL which was filed seeking mandatory registration of live-in relationships. The bench comprising CJI DY Chandrachud, Justice PS Narasimha, and Justice JB Pardiwala wondered if the petitioner was actually trying to prevent live-in relationships under the guise of fostering their security by seeking mandatory registration.Right at the outset,...

Air India Urination Case: Victim Moves Supreme Court Seeking Guidelines To Deal With In-Flight Passenger Misconduct

The 72-year-old victim in the Air India urination incident has moved the Supreme Court seeking directions to DGCA and Airline companies to lay down SoPs and regulations to deal with incidents of passenger misconduct on board. She claims that the crew coerced her to enter a “settlement” with the passenger who urinated on her and the DGCA failed to treat her with care and...

Section 9 Petition Not Maintainable If Principal Amount Repaid During Pendency Of Petition: NCLT Bengaluru Reiterates

The National Company Law Tribunal, Bengaluru Bench, comprising of Justice (Retd) T. Krishnavalli (Judicial Member) and Shri Manoj Kumar Dubey (Technical Member), while adjudicating a petition under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC”) in Ramesh Kumar Garg vs M/s Buildmet Pvt Ltd. has reiterated that a Section 9 petition is not maintainable if the principal...

‘A Case And A Counter Case Have To Be Tried Together’: Karnataka High Court Allows Transfer Of Criminal Proceedings To Single Court

The Karnataka High Court has reiterated that a case and a counter case have to be tried together by the same court irrespective of the nature of offences involved, to avoid conflicting judgments over the same incident. A single judge bench of Justice Mohammad Nawaz allowed the petition filed by one Dr Sanjeev Kumar Hiremath and transferred the case filed by him pending before the Magistrate...

Supreme Court Weekly Digest (13th March 2023-19th March 2023)

With another week gone at Supreme Court of India, Live Law is back with its Supreme Court Weekly Digest to keep our readers up to date with the latest legal developments in the Apex court of the country. Judgements/OrdersDistrict Judges Appointment - Only 10% Posts Can Be Filled Through Limited Competitive Examination : Supreme CourtCase Title: Rajendra Kumar Shrivas v. State of Madhya...

In A Democracy, Media Personnel Can't Be Jailed For Reporting: Kerala Court Grants Anticipatory Bail To Asianet Journalists

A local Court at Kozhikode on Saturday granted pre-arrest bail to the Executive Editor and other employees of Asianet News in connection with the allegations of airing a 'staged interview' of a minor girl who was made to say that she was a victim of drug abuse and sexual exploitation.Finding that there were no serious allegations against the petitioners herein, the Special Judge Priya...

'Sealed Cover Procedure Fundamentally Against Judicial Process, Want To End It' : Supreme Court To Centre In OROP Case

The Supreme Court on Monday refused to accept the sealed cover note submitted by the Central Government in the matter relating to disbursal of pension arrears to retired defence personnel under the One Rank One Pension (OROP) scheme.On the previous occasions, the Defence Ministry had come under the fire of the Supreme Court for not adhering to the timelines for disbursing the OROP...

Mortgage Security Acquired: Karnataka High Court Applies Doctrine Of Substituted Security, Orders Compensation Deposit Until Adjudication Of Rights

The Karnataka High Court has said that a mortgagee (secured creditor/Bank) gets rights over the compensation amount to be disbursed when the property which is mortgaged with it is acquired by the state government, as per Section 73 of the Transfer of Property Act.A single judge bench of Justice Krishna S Dixit allowed a petition filed by M/s D C B Bank Limited and directed Special...