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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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High Court of Judicature at Bombay Adjudicates Letter of Credit Dispute in Common Judgment for Two Suits Arising from Alleged Discrepant Documents. Bank's Liability for Wrongful Debit Examined Under UCP 290 with Emphasis on Strict Compliance and Discrepancy in Shipping Documents.

Two suits were filed arising from a documentary import Letter of Credit facility granted by State Bank of India to Dadlani Silk Stores. Suit No. 1012 ...

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Supreme Court Allows State's Appeal in Excise Duty Case — Licensee Liable for Duty on Liquor Destroyed in Fire. Absolute liability under Rule 7(11)(a) of UP Bottling of Foreign Liquor Rules, 1969 and Rules 708/709 of UP Excise Manual; act of God no defense.

The case arises from a fire incident on 10.04.2003 at the godown of the respondent company, a distillery licensee, which destroyed 35,642 cases of Ind...

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Bombay High Court Allows Employer's Petition and Dismisses Union's Petition in Industrial Dispute Over Recognition of Union. Industrial Court's interim order directing recognition of union as sole bargaining agent set aside as beyond jurisdiction under Section 30(2) of MRTU & PULP Act.

The judgment arises from two writ petitions filed in the Bombay High Court challenging an interim order passed by the Industrial Court, Mumbai, under ...

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High Court of Karnataka Enhances Compensation for Injured Claimant in Motor Accident Case — Insurance Company's Appeal Dismissed for Lack of Evidence on License Violation. Claimant awarded Rs.1,00,000/- as just compensation under Section 166 of Motor Vehicles Act, 1988.

The case involves a motor accident claim arising from an incident on 27-03-2010 when the claimant, Somappa, was traveling as a pillion rider on a moto...