Search Results for "Liquidation"

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Search Results for "Liquidation"

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Supreme Court

Supreme Court Allows Transfer of Deposited Funds for Employee Dues in Sugar Factory Liquidation Case. Court Directs Collector to Disburse Wages/Salaries to Employees/Legal Heirs After Verification, with Interest, by Specified Date, and Return Balance to Bank.

24 Mar 2023

The Supreme Court addressed miscellaneous applications arising from a civil appeal concerning the distribution of employees' dues in the liquidation o...

High Court

High Court of Karnataka Allows Condonation of Delay in Filing Revised E-Form INC-28 for Voluntary Dissolution. Court Permits Correction of Company Status from 'Under Liquidation' to 'Dissolved' Under Sections 637B, 446(2), 481 of Companies Act, 1956.

10 Jul 2020

The applicant, M/s. Plyworth Marketing India Pvt. Ltd. (under liquidation), filed Company Application No.32/2019 in O.L.R. No.9/2017 before the High C...

Supreme Court

Supreme Court Allows Promoter's Appeal in IBC Withdrawal Case — Commercial Wisdom of Committee of Creditors Cannot Be Overridden by NCLT/NCLAT. Settlement Plan Approved by 94.23% Voting Share Under Section 12A of Insolvency and Bankruptcy Code, 2016 Must Be Respected.

28 Jan 2022

The case involves appeals by Vallal RCK, the promoter of M/s Siva Industries and Holdings Limited (Corporate Debtor), against the common judgment of t...

High Court

High Court of Karnataka Dismisses Official Liquidator's Claim Against KPTCL in Company Application Under Section 446(2)(b) of Companies Act, 1956 — Claim Barred by Limitation Under Section 458A. The court held that the claim for recovery of dues was filed beyond the extended limitation period, as the amounts became due on 6.10.2002 and the application was filed on 11.9.2008, even after excluding the period from the date of winding up petition (2.9.2002) to the winding up order (3.8.2004).

23 Jun 2015

The Official Liquidator of M/S. NGEF Ltd. (in liquidation) filed an application under Section 446(2)(b) of the Companies Act, 1956, seeking recovery o...

High Court

Bombay High Court Dismisses Appeal Against Refusal of Leave to Execute Consent Decree in Company Liquidation. Consent Decree Declared Void as Fraudulent Preference Under Section 446 of Companies Act, 1956.

24 Sep 2018

The appeal arose from an order of the Company Judge refusing leave under Section 446 of the Companies Act, 1956 to the appellant, Forbes & Company Lim...

High Court

Bombay High Court Permits Official Liquidator to File Criminal Complaint Under Section 454 of Companies Act, 1956 Against Ex-Directors for Non-Filing of Statement of Affairs. Court Directs Ex-Directors to Deposit Rs. 11,30,743/- as Estimated Cost of Investigation.

1 Aug 2014

The Bombay High Court considered an Official Liquidator's Report (OLR No. 5 of 2013) in the winding up of Phoenix Alchemy Pvt. Ltd. The company was or...

Supreme Court

Supreme Court Allows Appeals by State Bank of India in Jet Airways Insolvency Case — Holds Performance Bank Guarantee Cannot Be Adjusted Against Resolution Plan Payment and Non-Implementation Leads to Liquidation. The Court ruled that the SRA's failure to pay airport dues and employee dues constituted non-implementation of the Resolution Plan under Section 33(3) IBC, 2016, and the PBG cannot be set off against the first tranche payment.

13 Nov 2024

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited, initiated by State Bank of India (SBI) under S...

High Court

Bombay High Court Dismisses Writ Petitions Challenging DRAT Order Confirming Sale of Company Property in Favour of Auction Purchaser. Workers' Dues and Alleged Irregularities Do Not Justify Annulment of Concluded Auction Sale Under Recovery of Debts Due to Banks and Financial Institutions Act, 1993.

20 Sep 2011

The judgment concerns three writ petitions filed under Article 226 of the Constitution challenging an order of the Debts Recovery Appellate Tribunal (...

High Court

Bombay High Court Grants Decree for Lease Termination and Arrears in Favour of Lessor Against Company in Liquidation. Lease agreement validly terminated due to default in payment of rentals; lessor entitled to recovery of arrears and possession of machinery.

6 Jan 2010

The plaintiff, Indbank Merchant Banking Services Limited, filed a suit against Nicelcon Limited (in liquidation) and Raju H. Mahatani seeking a declar...

Supreme Court

Supreme Court Allows Appeal in Companies Act Case Against Division Bench Order Restraining Property Transfer. Court Holds Section 339 of Companies Act, 2013 Applies Only to Directors, Managers, Officers or Persons Knowingly Party to Wrongful Trading of Company in Liquidation, Not to Unrelated Third Parties.

25 Jan 2023

The appeal arose from a dispute concerning winding up proceedings against respondent No. 3 Company, which had launched the Festival City Mall project ...

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