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Supreme Court Quashes NCLT Approval and NCLAT Judgment in Bhushan Power CIRP, Remands for Fresh Resolution Plan. Approved Plan Set Aside Due to Inordinate Delay, Illegal Extension Clause, Waterfall Violation, and Non-Compliance with IBC Provisions Including Sections 30, 31, and 53.

The Supreme Court adjudicated a batch of civil appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the approval of ...

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Supreme Court Partly Allows Appeal of Claimants in Motor Accident Case — Enhances Compensation by Including Prepaid License Fee in Deceased's Income. Income Tax Return Held as Primary Evidence for Determining Annual Income; Depreciation Not Considered as Income.

The appellants, heirs of Aranganathan who died in a motor accident on 25 May 2001, filed a claim under Section 166 of the Motor Vehicles Act, 1988 bef...

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Bombay High Court Partially Allows Appeal Against Arbitral Tribunal's Interim Order in Commercial Arbitration Dispute. Court upholds Tribunal's power to grant interim relief under Section 17 of Arbitration and Conciliation Act, 1996, but modifies order to balance interests of both parties.

The judgment arises from two commercial arbitration petitions filed by Mahaguj Collieries Limited (the petitioner) under Section 37 of the Arbitration...

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Bombay High Court Dismisses Appeal Against Arbitral Tribunal's Interim Order in Bank Guarantee Dispute. Court upholds restraint on encashment of bank guarantee subject to deposit of amount, finding no perversity in the Tribunal's order under Section 37 of the Arbitration and Conciliation Act, 1996.

The petitioner, Mahaguj Collieries Limited, filed two arbitration petitions under Section 37 of the Arbitration and Conciliation Act, 1996, challengin...

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Bombay High Court Quashes Termination of Associate Professor in University Service Dispute — Procedural Violation of Natural Justice. Chancellor's Appellate Order Set Aside as Termination Order Was Passed Without Proper Inquiry and Without Considering Petitioner's Explanation.

The petitioner, Dr. Chandraprakash Dattarao Khedkar, was an Associate Professor at Dairy Technology College, Pusad, run by the Maharashtra Animal & Fi...

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Bombay High Court Pronounced Judgment in Writ Petition Lodging No. 3069 of 2018 Regarding Withdrawal of Electric Bus Contract. Dispute Involved Whether BEST Could Withdraw Contract Work Order Based on Note that Acceptance Was Subject to DHI Incentive Approval.

The present writ petition under Article 226 of the Constitution of India was filed by Olectra Greentec Limited (formerly Goldstone Infratech Limited) ...

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High Court of Karnataka Dismisses Winding-Up Petition Against Kingfisher Airlines Ltd. for Lack of Service of Statutory Notice. Petition under Sections 433(e) and (f) of the Companies Act, 1956 fails as petitioner Aerotron Limited did not prove service of demand notice under Section 434.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a winding-up petition under Sections 433(e) and (f...

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High Court of Karnataka Allows Winding Up Petition Against Airline Company for Inability to Pay Debts Under Companies Act, 1956. The court held that the company was commercially insolvent and unable to pay its debts, and appointed the Official Liquidator to take charge of its assets.

The petitioner, Aerotron Limited, a company incorporated under the laws of England and Wales, filed a company petition under Sections 433(e) and (f) r...