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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Hears Appeals Against Admission of Winding Up Petition in Shareholder Deadlock Case. The core issue concerns whether a petitioner who is not the registered shareholder can maintain a winding up petition after the registered shareholder merged into it.

The dispute concerned the winding up of Capital Controls India Private Limited, a joint venture between Chloro Controls (India) Private Limited and Se...

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Supreme Court Upholds Transfer of Winding Up Petition to NCLT Despite Admission Order. Discretion Under Section 434(1)(c) Companies Act, 2013 Properly Exercised Where Liquidation Was at Initial Stage and No Irreversible Steps Taken.

The Supreme Court dismissed appeals by Action Ispat and Power Pvt. Ltd. against the Delhi High Court's order transferring a winding up petition to the...

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High Court of Karnataka Upholds KERC Regulations on Renewable Purchase Obligation for Captive Users. Regulations Requiring Captive Power Producers to Purchase Renewable Energy or Certificates Are Within Jurisdiction Under Electricity Act, 2003.

The petitioners, The South Indian Sugar Mills Association and Davangere Sugar Company Pvt. Ltd. (in W.P.Nos.7603-04/2012) and Shree Renuka Sugar Mills...

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High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...

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National Consumer Disputes Redressal Commission Dismisses Appeal Seeking Substitution of Director in Consumer Execution Proceedings During CIRP. Moratorium under Section 14 of IBC does not bar substitution of director as the corporate debtor remains liable.

The case involves an appeal filed by Sudheschandra Gupta against an order dated 01.10.2021 of the State Consumer Disputes Redressal Commission, Mahara...