Replacement Of RP As Per Section 27 Is Complete When The Resolution Is Passed With 66% Voting Share: NCLT Allahabad

The National Company Law Tribunal, Allahabad Bench, comprising of Shri Praveen Gupta (Judicial Member) and Shri Ashish Verma (Technical Member), while adjudicating an application under Section 27 read with Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) in M/s Mahajagdamba Tubes Pvt. Ltd. vs M/s Quality Steels Product Limited has held that replacement of a...

Have Formed Panel To Probe Into Lawrence Bishnoi's Jail Interviews, Punjab Govt Informs High Court

The Punjab Government has informed the Punjab and Haryana High Court that it has formed a committee to look into the recent to look into the incident of gangster Lawrence Bishnoi appearing on TV News Channel for an interview. The submission was made before the bench of Chief Justice Ravi Shankar Jha and Justice Arun Palli which was dealing with a Public Interest Litigation (PIL)...

Heads Of Higher Educational Institutions Shall Be Held Responsible For Ragging Incidents: Uttarakhand High Court

The Uttarakhand High Court has passed directions to the State and University authorities to strictly implement the Regulations to curb ragging in all the higher educational institutions of the State.While expressing serious concern over the menace of ragging, the Division Bench of Chief Justice Vipin Sanghi and Justice Alok Kumar Verma said“…it is seen that the activity of ragging...

Calcutta High Court Grants Interim Relief To Couple Denied IVF Citing Age Bar In Assisted Reproductive Technology Act, Orders Preparation Of Embryo

The Calcutta High Court on Friday granted interim relief to a married couple who was denied IVF (In vitro Fertilization), citing the age bar for couples under Section 21(g) of the Assisted Reproductive Technology (Regulation) Act, 2021.The provision mandates a man to be aged above 21 years and below 55 years for being eligible for assisted reproductive technology services. The upper age limit...

Section 14 Of IBC Would Not Bar A Proceeding Under PMLA: NCLT Ahmedabad Reiterates

The National Company Law Tribunal, Ahmedabad Bench, comprising Dr. Madan B. Gosavi, (Judicial Member) and Shri Kaushalendra Kumar Singh (Technical Member), while adjudicating an application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) in Bank of India vs M/s Mayfair Leisures Ltd has held that Section 14 of IBC would not bar a proceeding under the Prevention...

Residuary Jurisdiction Of NCLT U/S 60(5)(c) of IBC , Can't Be Used To Interpret Terms Of An Agreement Relating To A Third-Party Contract: NCLT Ahmedabad

The National Company Law Tribunal, Ahmedabad Bench, comprising of Dr. Madan B. Gosavi (Judicial Member) and Shri Ajai Das Mehrotra (Technical Member), while adjudicating an application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) filed by the Resolution Professional (“RP”) of JBF Petrochemicals Ltd in IDBI Bank Ltd vs JBF Petrochemicals Ltd. has held that...

Characterization Of Share Application Money By AO As Unexplained Cash Credit Is Devoid Of Necessary Verifications: ITAT

The Raipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that the characterization of the share application money of Rs. 25 lac by the AO as an unexplained cash credit under Section 68 of the Income Tax Act is clearly devoid and bereft of necessary verifications.The bench of Ravish Sood (Judicial Member) has observed that the matter, in all fairness, requires to be restored to...

Unsuccessful Resolution Applicant Has No Locus Standi To Challenge The Approved Resolution Plan: NCLAT Chennai

The National Company Law Appellate Tribunal (“NCLAT”), Chennai Bench, comprising of Justice M. Venugopal (Judicial Member) and Ms. Shreesha Merla (Technical Member) while adjudicating an appeal filed in M.K. Rajagopalan v S. Rajendran & Anr., has held that an Unsuccessful Resolution Applicant has no locus standi to assail a Resolution Plan or its implementation since it is not...

IPS Officer Who Allegedly Got Conman To Pose As Chief Justice To Influence Corruption Probe Against Him Denied Anticipatory Bail By Patna High Court

The Patna High Court has refused anticipatory bail to IPS officer and former Superintendent of Police Aditya Kumar who had allegedly involved a conman to pose as the Chief Justice of the State in order to influence a corruption probe against him.A bench comprising Justice Anjani Kumar Sharan said there is ample evidence against Kumar in the form of electronic evidence, which establish...

Not Necessary For Party To Raise Objection Regarding Unilateral Appointment Before The Arbitrator, Can Be Raised In S. 34 Petition: Bombay High Court

The Bombay High Court has ruled that when one of the parties to the dispute has an overwhelming and unilateral power to appoint a Sole Arbitrator, the same completely vitiates such an appointment as the same is hit by Section 12(5) read with the Seventh Schedule of the Arbitration and Conciliation Act, 1996 (A&C Act). While dealing with a petition filed under Section 34 of the...

Madhya Pradesh High Court Initiates Suo Moto PIL Over Lawyers' Strike, Says Those Deliberating Avoiding Proceedings Will Face Serious Consequences

The Madhya Pradesh High Court at Jabalpur on Friday initiated Suo Motu Public Interest Litigation as a result of the communication by the Chairman of the State Bar Council of Madhya Pradesh asking the Advocates to abstain from court work from 23rd March. Division Bench consisting of Chief Justice Ravi Malimath and Justice Vishal Mishra observed that We are of the considered view that the duty...

Order XLVII CPC | Erroneous View Of Law Not A Ground For Review: Jammu & Kashmir High Court

The Jammu & Kashmir and Ladakh has reiterated that an erroneous view of law is not a ground for review and a court cannot rehear and correct an erroneous judgment by way of a review.A bench comprising Justice Sanjay Dhar passed the observation while hearing a petition seeking review of judgment passed by it, last year on December 23, 2022 whereby Civil First Appeal filed by the...