Search Results for "Company liquidation"

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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

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...

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Bombay High Court Allows Interim Application Seeking Ratification of Sale Under Section 536(2) of Companies Act, 1956 — Court Ratifies Sale of Property by Company in Liquidation to Bona Fide Purchaser for Value Without Notice of Winding Up Petition.

The Bombay High Court allowed an interim application filed by the applicant seeking a declaration that the sale agreement dated 5th September 2007 was...

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Bombay High Court Declares Payments Made by Company in Liquidation Void Under Section 536(2) of Companies Act, 1956 and Orders Refund. Payments made after winding up order to caterer without court approval are void, and the caterer must repay with interest.

The Official Liquidator of M/s. GOL Offshore Limited (in liquidation) filed OLR No. 139 of 2018 under Section 536(2) of the Companies Act, 1956, seeki...

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Bombay High Court Allows Resolution Professional to Continue CIRP Under IBC Despite Pending Winding-Up Petition Under Companies Act, 1956. Leave under Section 446 of Companies Act, 1956 granted to proceed with Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016.

The judgment concerns Company Application No. 10 of 2017 filed by the Resolution Professional of Murli Industries Limited (the corporate debtor) under...

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Supreme Court Upholds NCLAT Decision on Mandatory 75% Voting Share for Resolution Plan Approval Under I&B Code. Financial Creditors' Rejection of Resolution Plan for Kamineni Steel & Power India Pvt. Ltd. and Innoventive Industries Ltd. Leads to Liquidation as Plan Did Not Garner Required Majority.

The Supreme Court of India heard appeals arising from a common judgment of the National Company Law Appellate Tribunal (NCLAT) dated 6 September 2018,...

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Bombay High Court Dismisses Appeal Seeking Confirmation of Share Transfer in Wound-Up Company Due to Inordinate Delay and Lack of Evidence. Section 536(2) of Companies Act, 1956 requires timely application and proof of bona fide transfer before winding up order.

The appellant, Rathnam P.V., filed an appeal against the order of the Company Judge dismissing his application under Section 536(2) of the Companies A...

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Bombay High Court Dismisses Appeal by Occupier in Company Liquidation - Licence Created After Winding Up Petition is Void. Official Liquidator Entitled to Recover Possession from Trespasser Despite Deemed Tenancy Decree.

The appeal arises from an order of a Single Judge of the Bombay High Court in a company application filed by Respondent No.3 (original applicant) agai...