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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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High Court Refers Writ Petition to Larger Bench Due to Conflict on MRTP Act Reservation Lapsing. Dispute Involves Whether Notice Under Section 127 Served Before Plan Revision Lapses Upon Finalisation of Revised Development Plan Under Maharashtra Regional and Town Planning Act, 1966.

The judgment pertains to a writ petition filed by an agriculturist challenging the reservation of his land for a primary school under the Maharashtra ...

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High Court of Karnataka Allows Civil Revision Petition, Sets Aside Order Referring Dispute to Arbitration Under Section 8(1) of Arbitration and Conciliation Act, 1996 — Agreement Not Duly Stamped and Insufficiently Stamped, Hence Not Enforceable.

The petitioner-plaintiff filed a suit for recovery of Rs.16,29,311.74 with interest. The suit was decreed ex parte on 10.04.2018. The defendant No.1 f...

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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.

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...

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Bombay High Court Dismisses Petition Against Revenue Orders in Land Mutation Dispute Due to Availability of Alternative Remedy. Petitioner's challenge to mutation entry and revenue orders dismissed as second round of litigation without exhausting statutory appeal under Maharashtra Land Revenue Code.

The petitioner, IVRCL Limited, a company incorporated under the Companies Act, filed a writ petition before the Bombay High Court challenging an order...

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Compounding of Offences – Definition of First Offence – Discretion of Tax Authorities.

Income Tax Act, 1961 – Section 276CC – Compounding of Offences – Discretionary Relief – Interpretation of Guidelines – Supreme Court’s Rev...