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Search Results for "unsecured creditor"

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High Court

High Court Allows Impleadment of Liquidator in Pending Salary Recovery Suit -- Interprets IBC Provisions on Continuation of Proceedings Post-Liquidation -- Sets Aside Trial Court Order Dismissing Chamber Summons

5 Feb 2026

The Petitioner, a former employee of Respondent No.1 company, had filed a Summary Suit in 2017 for recovery of salary dues -- After the company went i...

Supreme Court

Supreme Court Allows Appeals by State Bank of India in Jet Airways Insolvency Case — Holds Performance Bank Guarantee Cannot Be Adjusted Against Resolution Plan Payment and Non-Implementation Leads to Liquidation. The Court ruled that the SRA's failure to pay airport dues and employee dues constituted non-implementation of the Resolution Plan under Section 33(3) IBC, 2016, and the PBG cannot be set off against the first tranche payment.

13 Nov 2024

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Jet Airways (India) Limited, initiated by State Bank of India (SBI) under S...

Supreme Court

Supreme Court Allows Appeals by Government of Odisha and TPG Equity Management in Mining Lease Renewal Dispute — Directs High Powered Committee to Decide on Renewal of Three Mining Leases Within Three Months. The court upheld the direction for formation of a High Powered Committee comprising representatives of the Central Government, Government of Odisha, and Odisha Mineral Development Company Ltd to decide on renewal of three mining leases within three months, after hearing TPG Equity Management Private Ltd.

17 May 2024

The case involves a dispute over the renewal of three mining leases (Kolha-Roida, Thakurani, and Dalki) originally granted to Bird and Company Limited...

Supreme Court

Supreme Court Allows State Appeals in Property Mutation and Sales Tax Recovery Case — High Court's Direction to Delete Adverse Entries and Mutate Property Set Aside. The Court held that the High Court exceeded its writ jurisdiction by directing mutation without considering the State's statutory charge under the Himachal Pradesh Value Added Tax Act, 2005.

28 Apr 2023

The Supreme Court heard two sets of civil appeals filed by the State of Himachal Pradesh and its officers against a judgment of the Himachal Pradesh H...

High Court

Bombay High Court Dismisses Bank's Petition Seeking Recovery of Security Deposit Under RDB Act. Security Deposit Refund Under Leave and License Agreement is Not a 'Debt' Under Section 2(g) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, as It Does Not Arise from a Banking Transaction or Financial Assistance.

19 Oct 2018

The petitioner, HDFC Bank Ltd., a private sector bank, filed a writ petition challenging the order of the Debt Recovery Tribunal (DRT) at Pune, which ...

High Court

Bombay High Court Allows Reduction of Share Capital of Starwood Capital India Advisors Private Limited Under Sections 100-104 of Companies Act, 1956 — Procedure Under Section 101(2) Dispensed With Due to Absence of Creditors. The court held that where a company has no secured, unsecured or trade creditors, the requirement of obtaining creditor consent under Section 101(2) of the Companies Act, 1956 is not necessary.

9 May 2014

The applicant, Starwood Capital India Advisors Private Limited, a company incorporated under the Companies Act, 1956, filed a Company Summons for Dire...

High Court

Bombay High Court Grants Interim Injunction Restraining Bank from Enforcing Guarantee and Pledge Against Company Pending Company Law Board Proceedings. Alleged Fraudulent Assumption of Liability by Directors Without Shareholder Consent Raises Serious Questions to be Tried.

15 Jul 2013

The applicant, Rajinder Kumar Malhotra, filed an application in a pending company appeal seeking an interim injunction to restrain HDFC Bank from reco...

High Court

Bombay High Court Allows Attachment of Assets in Summary Suit for Unpaid Freight and Demurrage — Plaintiff Granted Injunction Against Sale of Iron Ore Cargo and Direction to Furnish Security Under Order XXXVIII Rule 5 CPC. Court Held That Where Defendant Is Likely to Dispose of Property to Defeat Decree, Court May Direct Security or Attachment.

10 Jan 2013

The plaintiff, SJJ Marine Pte Ltd, filed a summary suit against Pisces Exim (India) Private Limited (Defendant No.1) and another (Defendant No.2) for ...

High Court

Bombay High Court Allows Writ Petition Challenging BIFR Order in SICA Reference — Holds That BIFR Cannot Reopen a Duly Sanctioned Scheme Without Jurisdiction Under Section 18 of SICA. The court quashed the BIFR order reopening a sanctioned scheme, ruling that the BIFR lacks inherent powers to review or modify a final scheme under the Sick Industrial Companies (Special Provisions) Act, 1985.

25 Apr 2011

The petitioner, Kotak Mahindra Bank Limited, challenged an order dated 25.1.2011 passed by the Board for Industrial and Financial Reconstruction (BIFR...

High Court

Bombay High Court Dismisses Writ Petition by Kotak Mahindra Bank Seeking Priority Over Secured Creditors in Liquidation Proceeds of Hukumchand Mills Ltd. The Court held that the Official Liquidator's decision to distribute sale proceeds among secured creditors in accordance with Section 529A of the Companies Act, 1956 was correct and that the petitioner, as an unsecured creditor, was not entitled to priority.

30 Nov -0001

The petitioner, Kotak Mahindra Bank Limited, filed a writ petition challenging the decision of the Official Liquidator of Hukumchand Mills Ltd. to dis...

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