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Supreme Court Dismisses Appeal by Erstwhile Directors in First Insolvency Case, Holding IBC Overrides State Moratorium. Corporate Debtor's Belated Defence of Non-Disbursal Under Master Restructuring Agreement Rejected as After-Thought.

The case arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The appellant, a multi-product company, faced ...

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Bombay High Court Sets Aside Revisional Order and Upholds Cooperative Bank's Auction Sale Despite Technical Objection on Deposit. Adjustment of Earnest Money Towards Mandatory 15% Payment Under Auction Terms Held Valid; Defaulting Borrower's Plea Rejected.

The petitioners, a cooperative bank and its Special Recovery Officer, challenged the order dated 19th January 2013 passed by the Divisional Joint Regi...

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Bombay High Court Considers Writ Petitions Challenging MHADA's Cancellation of Police Housing Lease — Allotment Under Slum Rehabilitation Scheme at Gaikwad Nagar Questioned

The High Court of Judicature at Bombay heard two connected writ petitions under Article 226 of the Constitution of India challenging an order of the M...

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High Court of Karnataka Adjudicates Writ Petition Challenging Reopening of Assessment Under Sections 147/148 of Income Tax Act, 1961. Petition Contended That Reopening Was Barred by Limitation and Without Jurisdiction; Court Examined the First Proviso to Section 147 and the Requirement of Full Disclosure.

The petitioner, a company engaged in software development and providing services to foreign clients, challenged the reopening of its assessment for th...

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KAHC010521472015_1

The plaintiff, a company registered under the Companies Act, 1956, engaged in developing resorts and health clubs, entered into an agreement to purcha...