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High Court Dismisses Section 9 Petition for Post-Foreign Award Relief in Commercial Arbitration Dispute - Vessel Sale Prior to Petition Filing Renders Relief Infructuous

The High Court dismissed a commercial arbitration petition seeking interim measures under Section 9 of the Arbitration and Conciliation Act, 1996 to s...

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NCLAT Dismisses Appeal in Insolvency Case Due to Lack of Privity of Contract. Operational Debt Claim Under Section 9 of IBC, 2016 Fails as No Direct Contractual Relationship Exists Between Appellant and Respondent.

The present appeal was filed by Rahee Jhajharia E to E JV (the Appellant) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) against t...

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Bombay High Court Dismisses Writ Petition Challenging NCLT Order Vacating PMLA Attachment Due to Availability of Alternative Remedy. Petitioner failed to avail statutory appeal under Section 421 of Companies Act, 2013 within limitation period, rendering NCLT order final.

The petitioner, Naresh Sundarlal Jain, filed a writ petition in the Bombay High Court challenging an order of the National Company Law Tribunal (NCLT)...

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Bombay High Court Declares Payments Made by Company in Liquidation Void Under Section 536(2) of Companies Act, 1956 and Orders Refund. Payments made after winding up order to caterer without court approval are void, and the caterer must repay with interest.

The Official Liquidator of M/s. GOL Offshore Limited (in liquidation) filed OLR No. 139 of 2018 under Section 536(2) of the Companies Act, 1956, seeki...

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Bombay High Court Dismisses Revenue's Appeal in Deemed Dividend Case Under Section 2(22)(e) of Income Tax Act. ITAT Correctly Held That Loans to Assessee Were Not Covered as Deemed Dividend Since Lender Companies Had No Accumulated Profits.

The appeal was filed by the Principal Commissioner of Income Tax (Revenue) against the order of the Income Tax Appellate Tribunal (ITAT) dated 20th Fe...

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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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High Court of Bombay at Nagpur Allows Revision Application by Bank in SARFAESI Act Jurisdiction Dispute — Civil Court Suit Barred Under Section 34 of SARFAESI Act, 2002. Allegations of Fraud Must Be Specific and Supported by Material to Bypass Statutory Remedy Before Debt Recovery Tribunal.

The case involves a civil revision application filed by Punjab National Bank (original defendant) against an order of the District Judge, Chandrapur, ...