Search Results for "Liquidation proceedings"

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High Court Allows Impleadment of Liquidator in Pending Salary Recovery Suit -- Interprets IBC Provisions on Continuation of Proceedings Post-Liquidation -- Sets Aside Trial Court Order Dismissing Chamber Summons

The Petitioner, a former employee of Respondent No.1 company, had filed a Summary Suit in 2017 for recovery of salary dues -- After the company went i...

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Bombay High Court Ordered Official Liquidator to Handover Possession of Tenanted Premises to the Landlords. The Court Held That Tenancy Rights Cannot Be Considered as Assets of the Company in Liquidation and Directed the Official Liquidator to Return Possession of Flats in Question.

The Court reaffirmed its wide powers under Section 446 of the Companies Act. Held that tenancy rights are not considered assets for the purpose of wi...

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High Court Recalls Order Due to Violation of RBI Directives and Unlawful Compromise Affecting Third-Party Rights. Recall of Order Based on Unlawful Compromise in Loan Assignment Dispute

Unlawful Compromise: A compromise under Order XXIII Rule 3 of the CPC must be lawful. The assignment of Shaila Clubs' loan to Savannah was unlawful as...

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Supreme Court of India — Appeal Dismissed — No Ownership or Leasehold Rights Conferred — Remedy for Recovery of Possession or Unearned Income Kept Open

Lease Agreement Not Executed — No Transfer of Leasehold Rights — Auction Sale on 'As Is' Basis — Rights Under Lease Agreement Limited — Liquid...

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"Temporary Appointment of Staff in Liquidation Cases: A Legal Analysis under Rules 308 and 309" Balancing Liquidation Needs with Legal Sanctions

The Bombay High Court (Nagpur Bench), in Company Application No. 48/2024, addressed the appointment of a Peon (MTS) in liquidation proceedings under R...

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Corporate Insolvency Resolution and Moratorium Effects on Judicial Deposits" The judgment addresses the interplay between the Insolvency and Bankruptcy Code (IBC) moratorium provisions and judicial deposits in appellate proceedings.

This case examines Siti Networks Ltd.'s request to withdraw funds deposited in court as part of an ongoing appellate proceeding after entering the Cor...

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Bombay High Court Quashes Stamp Duty Demand in Auction Case. Court clarifies that market value determined in judicial auctions cannot be independently reassessed by stamp authorities.

The Bombay High Court has quashed a demand notice issued for deficit stamp duty and penalty. The Court held that where a property is sold under a cour...

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Demand for Tax Dues Prior to Acquisition Quashed Under IBC Provisions. Bombay High Court rules that tax dues from before the acquisition of a company under the Insolvency and Bankruptcy Code (IBC) cannot be recovered from the buyer of the assets during liquidation proceedings.

The petitioner, sought to quash demand notices issued by the Gram Panchayat, Gowari, seeking recovery of outstanding tax dues pertaining to the period...

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A Legal Battle over Tender Process Cancellation. High Court of Bombay Reviews the Legality of Liquidation Proceedings and Tender Cancellation in the Public Distribution System

This judgment pertains to the legal dispute between Creative Consumers Cooperative Society and the State of Maharashtra regarding the cancellation of ...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...