Fresh Resolution Plan Cannot Be Considered By Committee Of Creditors: NCLAT New Delhi

National Company Law Appellate Tribunal (NCLAT) Principal Bench comprising of Justice Ashok Bhushan, Dr Alok Srivastava & Ms. Shreesha Merla in the matter of Steel Strips Ltd versus Avil Menezes held that a fresh resolution plan cannot be considered by a Committee of Creditors (COC) once it has already approved a resolution plan. Successful Resolution Applicant Steel Strips...

Whether A Party Is Entitled To Relief In Arbitral Proceedings In Absence Of Third Party, To Be Decided By The Arbitrator: Delhi High Court

The Delhi High Court has ruled that once a valid arbitration agreement exists between the parties, the issue whether a party is entitled to any relief in the arbitral proceedings in the absence of a third party, who is not a party to an agreement, is covered by the Doctrine of Competence-Competence and must be decided by the Arbitrator. The Single Bench of Justice Mukta Gupta held...

Supreme Court Collegium Approves Proposal For Appointing Five Additional Judges Of Calcutta High Court As Permanent Judges

The Supreme Court Collegium has approved the proposal for appointing five Additional Judges of Calcutta High Court as Permanent Judges of the Court. Following are the Judges whose proposal for appointment has been approved: 1. Ms. Justice Kesang Doma Bhutia, 2. Shri Justice Rabindranath Samanta, 3. Shri Justice Sugato Majumdar, 4. Shri Justice Bivas Pattanayak, and 5. Shri Justice...

SC Collegium Aprroves Proposal To Appoint Justice Satyen Vaidya, Additional Judge Of HP HC, As Permanent Judge

The Supreme Court collegium has recommended the appointment of Justice Satyen Vaidya, Additional Judge of Himachal Pradesh High Court as a Permanent Judge of the High Court. The Supreme Court Collegium approved the proposal for appointment as Permanent Judge on 19th April, 2022.The statement released by Supreme Court read as follows: "The Supreme Court Collegium on 19th April, 2022, has...

Allow Use Of Tamil As Language Of Madras High Court, Set Up Regional Bench For SC At Chennai : TN CM Stalin Requests CJI

The Chief Minister of Tamil Nadu Mr. M K Stalin on Saturday urged the Chief Justice of India Justice NV Ramana to consider allowing Tamil, the official language of the state of Tamil Nadu to be used in the High Court of Madras. Mr Stalin was speaking at a function organised for laying the foundation stone for the 9- storey administrative block of the High Court. Highlighting that the...

Allahabad HC Directs UP Govt To Form A Committee To Consider Increasing Emoluments Fixed For MGNREGA Technical Assistants/Computer Operators

The Allahabad High Court recently asked the Uttar Pradesh Government to constitute a committee to look into the grievance of Junior Engineers or Technical Assistants and Computer operators [employed under Mahatma Gandhi National Rural Employment Guarantee Act, 2005] with regard to the increase of monthly emoluments.The bench of Justice Saurabh Shyam Shamshery ordered thus while hearing writ...

Assessee Not Immune From Penalty U/S 270AA Income Tax Act Where Proceedings Initiated For Misreporting Of Income: Delhi High Court

The Delhi High Court has observed that it is only in cases where proceedings for levy of penalty have been initiated on account of alleged "misreporting of income" that an assessee is prohibited from applying and availing the benefit of immunity from penalty and prosecution under Section 270AA of the Income Tax Act, 1961.A division bench comprising of Justice Manmohan and Justice Dinesh...

Amount Invested In A Joint Venture Project In Capacity Of A Promoter And Investor Not A Financial Debt: NCLAT

The National Company Law Appellate Tribunal ("NCLAT") Principal Bench comprising of Justice Anant Bijay Singh (Judicial Member) and Ms. Shreesha Merla (Technical Member), while adjudicating an appeal filed under Section 61(3) of the Insolvency and Bankruptcy Code, 2016 ("IBC") in the matter of M/s Jagbasera Infratech Pvt. Ltd. v Rawal Variety Construction Ltd., has held that the...

Nil Payment To Operational Creditors Is Permissible Under The Resolution Plan: NCLAT Chennai

The NCLAT Chennai Bench comprising of Justice M Venugopal and Mr. Kanti Narahari in the case of Genus Security and Allied Service versus Mr. Shivadutt Bannanje & Anr. held Nil payment to operational creditors is permissible under the resolution plan if the liquidation value is less than the admitted claims of the corporate debtor. Two operational creditors M/s Genus Security...

S.47 Indian Registration Act Most Misused Law, Retrospective Effect Of Registered Sale Deed Requires Cumulative Analysis Of All Evidence: Madras HC

The Madras High Court has recently held that while dealing with the aspect of "retrospective effect" under the Indian Registration Act, the courts shall not go by retrospective operations in simpliciter, as stated in the said Section, but consider all the attentive circumstances. These may relate to the purchase of stamp paper and the evidence of description, if any, presence of...

Take Corrective Measures So Accused Can't Cite Poor Medical Facilities To Seek Bail: Bombay HC To Jail Authorities On Dismissing Varavara Rao's Plea

The Bombay High Court has issued certain directions for improving prison conditions and medical facilities therein, so that complaints of Bhima Koregaon accused Varavara Rao as well as those made by other prison inmates are addressed, and there is no scope for them to seek bail on those grounds in the future. "If the strict view of the matter is not taken and appropriate directions...

Accused May Examine Complainant As A Witness To Disprove His Case In Proceedings U/S 138 NI Act: Madras High Court

While setting aside the order of a lower court, the Madras High Court recently allowed an accused under Section 138 of the Negotiable Instruments Act to examine complainant's side of witnesses. Justice G.K Ilanthiraiyan sitting at Madurai observed,"Accused has the right to demonstrate that the complainant in a particular case did not have the capacity and therefore, the case of the accused...