Collusive Commercial Transactions With Corporate Debtor Will Not Constitute 'Financial Debt' Under IBC : Supreme Court

The Supreme Court has held that collusive or sham transactions with a corporate debtor will not amount to "financial debt" within the meaning of the Insolvency and Bankruptcy Code 2016(IBC)."The IBC recognizes that for the success of an insolvency regime, the real nature of the transactions has to be unearthed in order to prevent any person from taking undue benefit of its provisions to...

Request For Inspection, Recounting Of Ballot Papers Not To Be Considered Unless Specific Genuine Ground & Valid Reasons Cited: SC

In dismissing the pleas of two defeated candidates in the 2015 Panchayat elections in Kerala, the Supreme Court on Monday affirmed that a request for inspection, recounting of ballot papers etc. have to be considered only if it is accompanied with a really genuine ground, supported by valid reasons.The bench headed by Chief Justice S. A. Bobde was hearing two SLPs against the December 14,...

Bail- Restrictions In Section 43­D(5) of UAPA Act Are Comparatively Less Stringent Than Section 37 NDPS Act: Supreme Court

In a significant judgment pronounced on Monday, the Supreme Court observed that Section 43­D(5) of the Unlawful Activities (Prevention) Act, is comparatively less stringent than Section 37 of the Narcotic Drugs and Psychotropic Substances Act.Relevant provisions of UAPA and NDPS read as follows:43D(5) UAPA(5) Notwithstanding anything contained in the Code, no person accused of an...

Financial Creditor Can Be Excluded From CoC If It Got Rid Of 'Related Party' Label Only With Intention To Circumvent Bar Under Section 21(2) IBC : SC

'The purpose of excluding a related party of a corporate debtor from the CoC is to obviate conflicts of interest which are likely to arise in the event that a related party is allowed to become a part of the CoC'

Breaking-Violation Of Fundamental Right To Speedy Trial Is A Ground For Constitutional Court To Grant Bail In UAPA Cases: Supreme Court

Restrictions Under Section 43-D(5) Of UAPA Does Not Oust The Ability Of Constitutional Court Courts To Grant bail On Violation Of Fundamental Right

Non-Resumption Of Physical Hearing: Punjab & Haryana High Court Bar Association Passes Resolution Against Chief Justice; Removes Advocate General Atul Nanda As Member

Association also dis-membered Advocate General Atul Nanda for allegedly continuously acting against the interest of the Bar.

Supreme Court Seeks WhatsApp, Facebook, Google Pay, Amazon Pay Response On Plea Seeking Data Protection On UPI Platforms

The Supreme Court on Monday sought the response of WhatsApp India, Facebook, Google Pay, Amazon Pay and the Union Government on a plea seeking directions to ensure that data collected by Unified Payment Interface(UPI) platforms is not shared with parent company or any other third party under any circumstances.A bench headed by the Chief Justice of India issued the direction to the respondents...

Plea Challenging Conditions In Scheme Under The Pradhan Mantri Garib Kalyan Yojna: Supreme Court Directs Petitioner To Approach High Court

Supreme Court has on Monday granted liberty to withdraw the plea filed challenging conditions in the government EPF scheme introduced under the Pradhan Mantri Garib Kalyan Yojna that seeks to only benefit employees in establishments with less than 100 employees with 90% or more earning less than Rs. 15000. A Division Bench of Justices Nageswara Rao and Ravindra Bhat has allowed...

Physical Court Hearings To Resume Soon With Virtual Courts In Hybrid Manner: Chief Justice Of India Assures

The Chief Justice of India SA Bobde has assured that the physical court hearings will resume in a hybrid manner with virtual courts at the earliest, after considering the medical advice and clearing the existing impediments with relation to health of the Stake holders, Technology Infrastructures and availability of Registry staff. CJI said this in a meeting called by him on...

Extra Chance For UPSC Civil Service Exam: "We Need Some Time To Discuss The Matter": SG Tells Supreme Court

The Supreme Court on Monday adjourned to Friday a plea seeking for an extra chance for Civil Service aspirants who had given their last attempt of the UPSC exam in October 2020.A Bench headed by Justice AM Khanwilkar took into consideration Solicitor-General Tushar Mehta's request to adjourn the matter to later this week, and have accordingly listed the plea for hearing on the...

Supreme Court Accepts Resignation Of Nagaland Lokayukta Justice (Retd) Uma Nath Singh

The Supreme Court on Monday accepted the offer made by Nagaland Lok Ayukta Justice(Retired) Uma Nath Singh to resign from the post amid the ongoing dispute between him and the Nagaland Government.Senior Advocate Vikas Singh, appearing for the Lok Ayukta, submitted the proposal to resign in a written statement presented before a bench headed by the Chief Justice of India.Accepting the offer,...

Income-Tax Slabs Remain Unchanged; IT Relief For Senior Citizens Above 75 Years : Budget 2021 Highlights

The Union Finance Minister, Nirmala Sitharaman today presented the Budget for financial year 2021-22 in the Parliament. The Minister has put forth certain Tax proposals, as follows: Tax rates, both corporate and individual, remain unchanged. However, there is a relief to Senior Citizens aged 75 year and above, who will not be required to file income tax returns in case of income...