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Search Results for "unsecured creditor"

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High Court

Bombay High Court Dismisses Petitioner's Challenge to Arbitral Award in Commercial Arbitration Dispute. Court upholds award under Section 34 of Arbitration and Conciliation Act, 1996, finding no patent illegality or conflict with public policy.

22 Jul 2026

The petitioner, Ramakrishnan Krishnan, filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challenging an arbitral award ...

Supreme Court

Supreme Court Allows Set-Off Plea in Arbitration Despite Extinguishment of Counterclaim Under IBC - Corporate debtor's appeal against High Court order directing continuation of arbitral proceedings is partly allowed, permitting set-off as a defensive mechanism while affirming extinguishment of non-included claims under Section 31(1) of Insolvency and Bankruptcy Code, 2016.

20 Mar 2026

The dispute arose between a corporate debtor, Appellant, and a public sector undertaking, Respondent following a contract for solar power plant instal...

Supreme Court

Supreme Court Allows Operational Creditors to Pursue Civil Suit and Arbitration Post-Resolution Plan — Notional Claims Not Extinguished. The Court held that claims admitted at a notional value of Re. 1 due to pending disputes are not barred by the approved resolution plan under the Insolvency and Bankruptcy Code, 2016.

1 Jan 2026

The case involves appeals by M/s Tata Steel Ltd., the successful resolution applicant (SRA) for Bhushan Steel Limited (BSL), against orders of the Bom...

High Court

Bombay High Court Convicts Directors for Default in Filing Statement of Affairs Under Section 454(5) of Companies Act, 1956 — Failure to Submit Statement Despite Repeated Court Orders and Notices Constitutes Offence Without Reasonable Excuse.

1 Oct 2025

The Official Liquidator of M/s. Geeta Marine Services Pvt. Ltd. filed a complaint under Section 454(5) of the Companies Act, 1956 against four accused...

High Court

Bombay High Court Quashes Section 143(2) Notice Issued Beyond Time Limit in Income Tax Reassessment — Notice Issued After Expiry of Statutory Period Under Section 149 of Income Tax Act, 1961 Is Invalid.

23 Apr 2024

The petitioner, AMNS Khopoli Limited (formerly Uttam Galva Steels Limited), challenged a notice dated 31st May 2023 issued by the Assistant Commission...

High Court

Bombay High Court Dismisses Suit for Specific Performance of Agreement for Sale of Immovable Property — Purchaser Failed to Demonstrate Willingness to Complete Transaction. Readiness without willingness is insufficient for specific performance under Section 16(c) of the Specific Relief Act, 1963, as the plaintiff insisted on adjustment of loans without calling upon defendant to pay its share.

8 Apr 2019

The suit was filed by G Ram Construction Company (plaintiff) against Chowgule & Company (Hind) Pvt Ltd (defendant) for specific performance of an agre...

High Court

Bombay High Court Directs Deposit of Balance Bid Amount in Auction Sale of Company in Liquidation. Official Liquidator's Report for Confirmation of Sale of Properties of M/s. Akola Oil Industries Ltd. - Bidders Required to Deposit Balance Amount Within 15 Days.

20 Dec 2014

The Official Liquidator appointed over M/s. Akola Oil Industries Ltd. (in liquidation) filed reports seeking confirmation of auction sales held on 9-1...

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 Allows State of Kerala's Claim for Sales Tax Arrears in Liquidation, Holding Section 26B of Kerala General Sales Tax Act Overrides Companies Act Priority. The court directed the Official Liquidator to release Rs.68,55,885/- to the State, recognizing the first charge created by Section 26B over the claims of secured creditors and workmen.

11 Aug 2010

The State of Kerala filed an application before the Bombay High Court seeking an order directing the Official Liquidator of Poysha Industrial Company ...

High Court

Bombay High Court Allows Winding Up of Swadeshi Mills Co. Ltd. in Creditors' Petitions and BIFR Recommendation. Company declared unable to pay debts and commercially insolvent; winding up ordered under Sections 433(e) and 434 of the Companies Act, 1956.

5 Sep 2005

The judgment concerns multiple company petitions filed by creditors and the Board for Industrial and Financial Reconstruction (BIFR) seeking the windi...

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