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Bombay High Court Quashes Penalty for Non-Certification of Annexures to Return of Allotment Under Section 39(5) of Companies Act, 2013 — Default Under Section 39(4) Relates Only to Filing of Return, Not Certification of Annexures.

The petitioners, N.S.J.L Nidhi Ltd and its officers, challenged an order dated October 11, 2023, by which a Learned Adjudicating Officer imposed a pen...

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Bombay High Court Holds Respondents in Contempt for Breach of Injunction Order. Resolutions Increasing Authorised Capital and Alloting Shares While Restrained from Exercising Rights on Shares Amount to Wilful Disobedience.

The appeal arose from Suit No.3121 of 2004, where the appellants (original plaintiffs, Gopal L. Raheja & Anr.) claimed that the respondents (original ...

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High Court of Bombay Hears Appeal Challenging CLB Order Allowing Ingress into Plant Disputed under Business Transfer Agreement. Court Notes Contradictory Affidavits and Abuse of Process by Appellant in Claiming Possession.

The appeal arose from a Company Law Board order allowing Respondent No. 2, Rajinder Kumar Malhotra (RKM), access to Plant No. 2 of Vidyut Metallics Pv...

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Bombay High Court Sanctions Scheme of Amalgamation of Monarch Research and Brokerage Private Limited and Monarch Project and Finmarkets Limited with Networth Stock Broking Limited under Sections 391-394 of the Companies Act, 1956 — Objection by Gold Castle Realtor Dismissed as Not a Creditor or Member.

The judgment concerns two Company Scheme Petitions (CSP 575/2012 and CSP 576/2012) filed by Monarch Project and Finmarkets Limited (2nd Transferor Com...

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Madras High Court Adjudicated a Commercial Suit for Recovery of Chit Maturity Amount Against a Partnership Firm and Partners. The plaintiff claimed the maturity value based on an acknowledgment of liability and promissory estoppel, while the defendants raised a prior suit for injunction and accounts.

The plaintiff, a construction company, filed a commercial suit against a partnership firm (first defendant) and its partners (defendants 2 to 6) for r...

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Supreme Court Allows Review Petition Filed by Customs Department in Customs Act Case — DRI Officers Held as Proper Officers. The Court overruled earlier decisions and upheld Section 28(11) of the Customs Act, 1962 as constitutionally valid, restoring the Department's power to issue show cause notices.

The Supreme Court, in a batch of petitions led by Review Petition No. 400 of 2021, considered the correctness of its earlier judgment in M/s Canon Ind...

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Bombay High Court Allows Winding Up of S. Kumars Nationwide Ltd. for Inability to Pay Debts. Multiple financial creditors and operational creditors successfully proved the company's insolvency under Sections 433(e) and 434 of the Companies Act, 1956.

The judgment concerns a batch of company petitions filed by various financial creditors and operational creditors seeking the winding up of S. Kumars ...