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Supreme Court Dismisses Power Trust's Appeal Against CIRP Initiation for Appellant(s), Upholds NCLAT Order Admitting Section 7 IBC Application Due to Default and Non-Compliance with Restructuring Conditions

The Supreme Court dismissed an appeal challenging the initiation of corporate insolvency resolution process (CIRP) against Hiranmaye Energy Ltd. under...

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Bombay High Court Considers Interim Application for Judgment on Admissions in Admiralty Suit. Plaintiff Seeks Relief Under Order XII Rule 6 of Code of Civil Procedure, 1908, Alleging Admissions by Defendants.

The present matter concerns an interim application filed by the plaintiff, Raj Transport and Trading Company, in the pending Admiralty Suit No. 17 of ...

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High Court of Karnataka Allows Writ Petition Seeking Registration of Sale Certificate Under SARFAESI Act. Sub-Registrar Directed to Register Sale Certificate Despite Pending Civil Suit as Section 89(4) of Registration Act, 1908 Mandates Registration.

The petitioner, Sri T. Bharathgowda, purchased a property at an auction conducted by Canara Bank (respondent No.3) under the Securitisation and Recons...

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Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...