Approval Of Resolution Does Not Absolve Guarantor; NCLT Mumbai Reiterates

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 7 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Anchor Leasing Private Limited vs Sejal Realty and Infrastructure Limited has reiterated that the liability of the...

Delhi High Court Allows Appeal Of Poor Daily Wage Earners Against Seizure Of Goods Without Pre-Deposit

The Delhi High Court has allowed the appeals of poor daily wage earners against the seizure of goods without insisting on the requirement of pre-deposit.The bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has observed that the statute may, at times, impose conditions as a requirement of filing an appeal. However, a condition that is unduly onerous will render the right to...

Sec. 126 Of ICA, 1872 Can’t Be Interpreted To Mean That Co-Borrower And Guarantor Can’t Be The Same Person: 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 7 of Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) in Pegasus Assets Reconstruction Private Limited vs M/s. Whiz Enterprise Private Limited has held that Section 126 of...

BSP’s Afzal Ansari Loses Lok Sabha Membership Following His Conviction In A Gangster Act Case

Bahujan Samaj Party's Afzal Ansari was today disqualified as a Member of Lok Sabha from the date of his conviction in a Gangster Act case. A notification in this regard was issued by the Lok Sabha Secretariat today. Ansari is an MP from Uttar Pradesh's Ghazipur district.The notification was issued two days after a special MLA/MP Court in the UP's Ghazipur district convicted and sentenced him to...

NCDRC: Concurrent Findings By The District/State Consumer Forums Based On Evidence Cannot Be Substituted In Revisional Jurisdiction

The National Consumer Dispute Redressal Commission (NCDRC) bench comprising presiding member, Subhash Chandra, while adjudicating on a matter related to the alleged deficiency in service by a Housing Society company, held that its revisional powers were limited to only prima-facie jurisdictional errors. Further, the concurrent findings based on evidence, related to the matter...

Monthly Digest Of IBC Cases: April 2023

Supreme Court IBC | Section 9 Petition Not To Be Dismissed If Few Invoices Are Time Barred But Remaining Invoices Are Not; Supreme Court Case Title: M/S Next Education India Pvt. Ltd. v M/S K12 Techno Services Pvt. Ltd. Citation: 2023 LiveLaw (SC) 270 The Supreme Court Bench comprising of Justice M.R. Shah and Justice C.T. Ravikumar, has held that when a petition under Section...

Honesty May Not Pay Immediately In Legal Profession But In Long-Run It Always Pays: Senior Advocate Arvind Datar

As a part of the 75th year celebration of the High Court of Orissa, the Lawyers’ Day was observed in a special way on Friday in a function organized at Odisha Judicial Academy, Cuttack. The Day is celebrated by the legal fraternity of Odisha to commemorate the birth anniversary of Utkala Gouraba Madhusudan Das. Arvind P. Datar, Senior Advocate, Supreme Court of India, attended the event as...

Orissa High Court Felicitates Lawyers With Over 50 Yrs Of Practice, Confers ‘Lawyers Of The Year Award’ On 18 Young District Court Lawyers

As a part of the 75th year celebration of the High Court of Orissa, the Lawyers’ Day was observed in a special way on Friday in a function organized at Odisha Judicial Academy, Cuttack. The Lawyers’ Day is observed every year on 28th April by the legal fraternity of Odisha commemorating the birth anniversary of Utkala Gouraba Madhusudan Das.29 senior lawyers of the High Court Bar...

Assessee Was Given Only 13 Hours Time To Reply To The Show-Cause Notice: Madras High Court Quashes Assessment

The Madras High Court has quashed the assessment as the assessee was given only 13 hours to reply to the show-cause notice.The bench of Justice M. Dhandapani has directed the department to consider the matter afresh and, after providing an opportunity to the petitioner, pass appropriate orders within a period of four weeks.The petitioner/assessee was issued with a first show cause notice on...

Tax Cases Weekly Round-Up: 23 April To 29 April, 2023

Bombay High Court Goa Value Added Tax (12th Amendment) Act, 2020 Defies The Doctrine Of Separation Of Powers: Bombay High Court Case Title: Rohan Lobo Versus State Of Goa The Bombay High Court has held that the Goa Value Added Tax (12th Amendment) Act, 2020, is an impermissible judicial override defying the doctrine of separation of powers. Material Triggering Reassessment...

Arbitration Cases Weekly Round-Up: April 23 To April 29, 2023

Supreme Court: Arbitration Agreement In Unstamped Contract Which Is Exigible To Stamp Duty Not Enforceable: Supreme Court Holds By 3:2 Majority Case Title: M/s. N.N. Global Mercantile Pvt Ltd vs M/s. Indo Unique Flame Ltd & Ors A Constitution Bench of the Supreme Court, on Tuesday, answered the reference, which pertains to the issue - whether the arbitration clause in a...

Weekly Digest Of IBC Cases: 24 To 30 April 2023

NCLAT Subsequently Modified OTS Proposal Would Further Refresh The Limitation Period: NCLAT Chennai Case Title: M/s. State Bank of India v M/s. Hackbridge Hewittic and Easun Limited Case No.: Company Appeal (AT) (CH) (Ins.) No. 05 of 2021 The National Company Law Appellate Tribunal (“NCLAT”), Chennai Bench, comprising of Justice M. Venugopal (Judicial Member) and Shri...