Weekly Digest Of IBC Cases: April 10th To April 17th, 2022

1. NCLT KOLKATA INSOLVENCY RESOLUTION PROCESS AGAINST LEGAL HEIRS OF PERSONAL GUARANTOR BY FINANCIAL CREDITOR NOT PERMISSIBLE Case title: Bank of Baroda v Ms. Divya Jalan Case No: C.P. (IB) - 363/2021 The National Company Law Tribunal ("NCLT"), Kolkata Bench Consisting of Shri Rajasekhar V.K. (Judicial Member) and Shri Balraj Joshi (Technical Member) while dismissing...

Interest On Delayed Refunds Covered Under Principal Provision Of Section 56 Of CGST Act Cannot Exceed 6%: Supreme Court

The Supreme Court, on Tuesday, held that in cases of delayed refund of integrated tax paid on export of goods governed by the principal provision of Section 56 of the Central Goods and Services Tax Act, 2017, the interest would be payable at the rate of 6% as prescribed by the statute, especially when the delay was not inordinate. "...wherever a statute specifies or regulates...

Plea In Punjab & Haryana HC Seeks Postponement Of Haryana JS (Mains) Exam-2021 On Ground Of Clash With MP Civil Judge (Pre) Exam Date

A Writ petition has been moved before the Punjab and Haryana High Court seeking postponement of Mains Examination of Haryana Civil Service (Judicial Branch)- 2021 in view of its clash with the date announced for conducting the Preliminary Exam of Madhya Pradesh Civil Judge, Junior Division (Entry Level) Exam-2021.The Mains Examination of HCS (Judicial Branch)- 2021 is scheduled to be held...

Rape Victim's Suicide Abetment Case | Allahabad High Court Seeks UP Govt's Reply On Ex-IPS Officer Amitabh Thakur's Plea

A 482 CrPC plea has been moved by ex-IPS Officer Amitabh Thakur before the Allahabad High Court seeking the setting aside of the cognizance order in connection with the case registered against him for allegedly abetting the suicide of a rape victim and her friend who had set themselves ablaze outside the Supreme Court last year.The 24-year-old woman, who was allegedly raped by Bahujan Samaj...

Allahabad High Court Seeks ACJM's Personal Presence To Explain Failure To Commit Case To Court Of Session For Over 2 Years

The Allahabad High Court today sought the personal presence of the Additional Chief Judicial Magistrate, Court No. 4, Hardoi to explain his failure to commit a criminal case to the Court of Session for over 2 years.Essentially, the Bench of Justice Dinesh Kumar Singh was dealing with a bail application moved by one Suraj Pal/Accused against whom, the police, filed a charge sheet under Section...

Insider Trading Can't Be Presumed Due To Proximity Between Parties; Onus To Prove Is On SEBI : Supreme Court

The Supreme Court has held that insider trading cannot be presumed merely on the basis of proximity between the parties. The Court held 'communication' of Unpublished Price Sensitive Information under Regulation 3(1) of the SEBI (Prohibition of Insider Trading), 2015 ought to be proved by producing cogent materials, like, letters, emails, witnesses etc. and not be deemed owing to the...

'Powers Of Central Agency Wider': Calcutta HC Orders Transfer Of Probe Into Birbhum Explosions To NIA

The Calcutta High Court has recently ordered the transfer of investigation into explosions in Birbhum district to the National Investigation Agency (NIA) from the Crime Investigation Department (CID) of State of West Bengal by holding that the central agency has precedence in the investigation of scheduled offence.A Bench comprising Justice Joymalya Bagchi and Justice Bivas Pattanayak vacated...

"Can't Underestimate Power Of Mother's Love, It Must Be Given Unconditionally": Allahabad HC Grants Custody Of 2 Kids To Mother

Stressing that a mother's love must be given unconditionally to establish trust and a firm foundation of emotional intimacy in a child's life, the Allahabad High Court recently granted the custody of two children to their mother.The bench of Justice Rahul Chaturvedi ordered thus while dealing with a habeas corpus plea moved by one Seema Sharma seeking the custody of her two kids who were in...

Decided To Give Reservation In Promotion To SC/ST Employees Cadre-Wise : Bihar Govt Tells Supreme Court

The State of Bihar on Wednesday informed the Supreme Court that it has decided now to give reservation in promotios to government employees belonging to Scheduled Castes and Scheduled Tribes on the basis of "cadre". The submissions were made before the bench of Justices LN Rao and BR Gavai in an application seeking withdrawal of the civil appeals against the judgment of Patna High...

Hanskhali Gangrape & Murder: Calcutta HC Issues Orders For Witness Protection At State Expense

The Calcutta High Court vide order dated April 20 has allowed for the filing of a witness protection application before the competent authority as specified under the Witness Protection Scheme, 2018 to protect the family members of the victim in the Hanskhali gangrape and murder case wherein a probe by the Central Bureau of Investigation (CBI) had been ordered into a week back.The Court...

S.16C Karnataka Municipalities Act | Lodging Accounts Of Electoral Expenditure Ensures Transparency & Accountability Of Candidates: High Court

The Karnataka High Court has dismissed a petition filed by four persons challenging the order passed by the Karnataka State Election Commission disqualifying them from continuing as the elected members of the Municipality, on failure to lodge a true and correct account of electoral expenditure with the Returning Officer, within prescribed time.A single judge bench of Justice Krishna S...

Karnataka Mining: Supreme Court To Appoint Former Judge Justice Sudarshan Reddy As Oversight Authority

Supreme Court on Thursday decided to appoint former Supreme Court Judge Justice B. Sudarshan Reddy as the oversight authority for implementation of the Comprehensive Environmental Plan for Mining Impact Zone (CEPMIZ) with regard to mining operations in the State of Karnataka.The plan is for eco-restoration, socio economic development and railway backbone infrastructure for the mining impact...