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IBBI Advises Insolvency Professionals To Seek ED-Attached Assets To Boost Recoveries
The Insolvency and Bankruptcy Board of India (IBBI), noting that assets of entities in insolvency are often under attachment by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), has issued a circular guiding insolvency professionals on seeking restitution of such assets. In a circular issued on November 4, addressed to all registered insolvency...
NCLT Mumbai Approves Merger Of Snack Brand 'Dinshaws' With Its Dairy Business
The National Company Law Tribunal (NCLT) at Mumbai on Monday approved the merger of Dinshaws Snacks & Foods Private Limited with Dinshaw's Dairy Foods Private Limited, bringing the popular snack brand and its dairy arm under a single company.A coram of Judicial Member K R Saji Kumar and Technical Member Anil Raj Chellan in an order passed on November 3 observed that the scheme was fair...
District Judge Appointments | Not Comparing Promotees With Direct Recruits, Says Supreme Court Reserving Judgment On Seniority Norms
The Supreme Court today reserved its judgment on the issue whether there should be a quota for the promotion of serving judicial officers as District Judge posts. The 5-judge Bench of Chief Justice of India BR Gavai, Justices Surya Kant, Vikram Nath, K Vinod Chandran and Joymalya Bagchi is considering whether to lay down uniform pan-India guidelines to determine the inter-se seniority in...
Supreme Court Pulls Up Madhya Pradesh Police For Filing False Affidavit On Criminal Antecedents; Summons Officers
The Supreme Court has strongly criticised the Madhya Pradesh Police for submitting a false affidavit, opposing a bail plea, attributing multiple criminal cases to an accused who was not involved in them.A Bench of Justices Ahsanuddin Amanullah and Sandeep Mehta noted that the State's first affidavit had claimed that the petitioner had “eight other criminal antecedents.” However,...
Delhi Court Bars Andhra Trader from Using 'Lakshmi Plasto', Awards Rs 2 Lakh to RC Plasto
A Delhi Commercial Court has restrained an Andhra Pradesh-based trader from using the mark “Lakshmi Plasto”, observing that it is deceptively similar to the mark “Plasto” used by RC Plasto Tanks & Pipes Pvt. Ltd., a manufacturer of water tanks and pipes.In an order dated October 30, District Judge (Commercial) Anuradha Shukla of Saket Courts also awarded Rs 2 Lakh in damages to...
NCLT Orders Dissolution of Groww Promoter Company Following Voluntary Liquidation
The National Company Law Tribunal (NCLT) at Bengaluru has ordered the dissolution of Groww AA Private Limited, a company promoted by the founders of the online investment platform Groww. This comes after the company filed a plea for voluntary liquidation, completed all required legal and financial formalities, and distributed its assets to shareholders.The fintech platform Groww...
2007 Ajmer Blasts : Supreme Court Issues Notice On Dargah Khadim's Plea Against Acquittal of 7 Persons
The Supreme Court on October 3 issued notice to the State of Rajasthan in a plea filed by complainant Syed Sarwar Chishty, Khadim of Dargah Sharif, Ajmer, challenging the dismissal of the appeal by the Rajasthan High Court against the acquittal of 7 persons by the NIA Special Court in the 2007 Ajmer Dargah bomb blast.The notice was issued by a bench comprising Justice Sanjay Kumar and...
NCLT Mumbai Initiates Insolvency Proceedings Against Pune-Based EV Startup Tork Motors
The NCLT Mumbai has admitted an insolvency plea against Pune-based EV start-up Tork Motors, once backed by the late industrialist Ratan Tata, Bharat Forge, and Ola's Bhavish Aggarwal over a debt of Rs. 1.29 crore. It appointed Anagha Anasingaraju as the Interim Resolution Professional (IRP) until a Resolution Professional is appointed.The move follows a petition by Unaprime Investment...
WhatsApp Privacy Policy Case: Overlap in Data Privacy–Competition Issues Doesn't Curb CCI's Powers, says NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday reaffirmed that the overlap between privacy and competition issues does not take away the powers of the Competition Commission of India (CCI) in investigating and addressing abuse of dominance by firms, even when data protection concerns are also involved. Observing that “Competition law and data protection law operate...