Person Who Only Advances An Amount For Supply Of Goods & Services Is Not An “Operational Creditor”: NCLT Chennai

The National Company Law Tribunal, Chennai Bench, comprising Shri Sanjiv Jain (Judicial Member) and Shri Sameer Kakar (Technical Member), while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Mr.V. Umadevi vs Kumarna Gin & Pressing Pvt. Limited has held that the payment of advance amount to receive the supply of goods...

Tamil Nadu Govt Files Criminal Defamation Case Against BJP State President K Annamalai For Statements Against CM MK Stalin

Tamil Nadu government has moved the Principle District and Sessions Court Chennai seeking action against the State President of Bharatiya Janata Party K Annamalai for making defamatory statements against the Chief Minister MK Stalin. The complaint has been moved through City Public Prosecutor. On May 14th, Annamalai had released 'DMK Files', claiming that many members of the ruling DMK party...

Claim Of Compensation Cannot Become Part Of Operational Debt Until The Liability Is Adjudicated By A Competent Authority: NCLT Mumbai

The National Company Law Tribunal, Mumbai Bench, comprising Shri Kuldip Kumar Kareer (Judicial Member) and Smt. Anuradha Sanjay Bhatia (Technical Member), while adjudicating an application under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Chandrashekhar Export Pvt. Ltd vs Babanraoji Shinde Sugar & Allied Industries Ltd. has held that Operational Debt must...

Flats Sold After Completion Of Construction To Be Included In Computation Of Threshold Limit Under Section 7, IBC: NCLT New Delhi Reiterates

The National Company Law Tribunal, New Delhi Bench, comprising Shri P.S.N Prasad (Judicial Member) and Dr. Binod Kumar Sinha (Technical Member), while adjudicating an application under Section 7 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Uttam Singhal & Ors vs M/s Anushree Home Developers Ltd.& Anr. has reiterated that the persons to who flats have already...

Sexual Harassment Case Against WFI Head Brij Bhushan: Court Seeks Delhi Police’s Response On Plea For Monitoring Probe

A Delhi Court on Wednesday sought response of the Delhi Police on a plea moved by women wrestlers for a court-monitored investigation in connection with sexual harassment case registered against Wrestling Federation of India (WFI) president Brij Bhushan Sharan Singh.Additional Chief Metropolitan Magistrate Harjeet Singh Jaspal of Rouse Avenue Courts issued notice on the plea which has been...

NCLT Chennai Order Dissolution Of M/s Boss Profiles Limited Under Section 54 Of IBC

NCLT Chennai has ordered for dissolution of M/s Boss Profiles Limited (“Corporate Debtor”) under section 54 of Insolvency and Bankruptcy Code, 2016(“IBC, 2016”). The Corporate Debtor filed a petition before NCLT Chennai through its Liquidator for Dissolution of the Corporate Debtor The Tribunal had admitted the Corporate Debtor into Corporate Insolvency Resolution...

Allegation That IRP/RP Did Not Conduct CIRP As Per Law, Not A Ground To Challenge Resolution Plan: NCLAT Delhi

The National Company Law Appellate Tribunal (“NCLAT”), Principal Bench, comprising of Justice Ashok Bhushan (Chairperson) and Shri Barun Mitra (Technical Member), while adjudicating an appeal filed in Brijesh Singh Bhadauriya v Pinakin Shah, has held that the order approving the Resolution Plan cannot be interfered with on a mere allegation that the IRP or the Resolution...

Did Not Threaten Kangana Ranaut, Suggested Her To Amicably Resolve Issues With Hrithik Roshan: Javed Akhtar To Court

Lyricist Javed Akhtar recently testified before a Mumbai Court that he tried to get actors Hrithik Roshan and Kangana Ranaut to resolve the controversy between them amicably. Akhtar made the statement in response to Kangana's accusations of extortion in her feud with the actor.“In the month of March 2016, on one day Dr. Ramesh Agarwal alongwith accused Ms. Kangana Ranaut and her sister...

Muzaffarnagar Riots| 'Helpless Woman Was Gang Raped When She Was Fleeing Riot-Hit Area With Her Son To Save Her Life': UP Court

A trial court in Uttar Pradesh's Muzaffarnagar district today CONVICTED 2 accused after finding them guilty of gang-raping a woman in sugarcane fields during the 2013 Muzaffarnagar riots while she was fleeing the area along with her minor son. "The accused committed rape against a helpless woman when she along with her innocent son was fleeing through the sugarcane fields to save her life,"...

‘Instilled Sense Of Insecurity Among People, Jeopardised Communal Harmony’: Court Sentences 9 Men To 7-Years Jail In Delhi Riots Case

A Delhi Court on Tuesday sentenced nine men to rigorous imprisonment of seven years in jail in a case relating to 2020 North-East Delhi riots, observing that their acts instilled sense of insecurity among people and jeopardized the communal harmony in the society.Additional Sessions Judge Pulastya Pramachala sentenced nine men namely Mohd. Shahnawaz, Mohd. Shoaib, Shahrukh, Rashid, Azad,...

2013 Muzaffarnagar Riots: UP Court Convicts Two In A Case Of Gang Rape, Awarded 20-Year Rigorous Imprisonment

A trial court in Uttar Pradesh's Muzaffarnagar district today CONVICTED 2 accused in a case of gang rape of a woman during the 2013 Muzaffarnagar riots under Section 376(2)(g), 376-D and 506 IPC. The Additional District and Sessions Judge, Anjani Kumar Singh convicted accused Maheshvir and Sikander. Another accused Kuldeep died during the course of the trial. The accused have been awarded...

Weekly Digest Of IBC Cases: 1 May To 7 May 2023

Supreme Court IBC| Principle Of Commercial Wisdom Not Validate A Decision Taken By CoC In Contravention Of Law: Supreme Court Case Title: M.K. Rajagopalan v Dr. Periasamy Palani Gounder Citation: 2023 LiveLaw (SC) 403 The Supreme Court Bench comprising of Justice Dinesh Maheshwari and Justice Vikram Nath, has held that the principle of ‘Commercial Wisdom’ of...