Search Results for "Presidency Towns Insolvency Act, 1909"

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Search Results for "Presidency Towns Insolvency Act, 1909"

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High Court

High Court of Madras Disposes of Batch of Writ Petitions Challenging Income Tax and GST Assessment Orders, Suo Motu Impleads State Bank of India. No specific legal finding or ratio is discernible from the available text.

24 Feb 2026

The High Court of Madras heard a batch of writ petitions filed by multiple corporate entities, including Aqua Terra Coke and Energy Limited (formerly ...

High Court

Bombay High Court Declares Deed of Transfer Null and Void in Insolvency Case — Official Assignee Permitted to Take Possession of Flats Transferred After Adjudication as Insolvent. The court held that under Section 17 of the Presidency Towns Insolvency Act, 1909, property vests in the Official Assignee upon adjudication, and any transfer by the insolvent thereafter is void.

19 Mar 2024

The Official Assignee filed a report seeking directions regarding two flats (E-901 and E-905) situated in Pune, which were transferred by the Insolven...

High Court

High Court of Judicature at Bombay Interprets Conditions for Debtor's Insolvency Petition Under Presidency Towns Insolvency Act, 1909. Court Clarifies That Allegation of Inability to Pay Debts is Sufficient While Entitlement to Present Petition Must Be Proved Under Section 14.

26 May 2020

The judgment dealt with two debtors' insolvency petitions filed by a father and son duo under the Presidency Towns Insolvency Act, 1909 (PTI Act). The...

Supreme Court

Supreme Court Allows Appeal in Insolvency Case Under IBC, Holds Prior Consent Under Section 16G of Tea Act Required for Initiation of CIRP Against Tea Gardens Under Central Government Management. The court ruled that the Tea Act, 1953, being a special legislation, requires prior consent of the Central Government for initiating insolvency proceedings under Section 9 of the IBC against a corporate debtor whose tea gardens are under government management.

4 Oct 2019

The case involves a dispute between Duncans Industries Ltd. (the appellant/corporate debtor) and A. J. Agrochem (the respondent/operational creditor) ...

High Court

High Court of Bombay Admits Appeal Against Order Vacating Ex-Parte Stay on NCLT Proceedings in Corporate Insolvency Case. Company Petition for Winding Up Admitted Prior to IBC Application; Court to Determine Jurisdiction Overlap Between Winding Up and Corporate Insolvency Resolution Process.

26 Jul 2018

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High Court

Bombay High Court Dismisses Judgment Debtors' Motion to Set Aside Insolvency Notice Based on SFC Act Order. Order under Section 31(1)(aa) of State Financial Corporations Act, 1951 is a decree or order within Section 9(2) of Presidency Towns Insolvency Act, 1909 and is executable against guarantors.

20 Jul 2015

The case involves two notices of motion filed by judgment debtors (Vikram Saboo and Shalini Saboo) seeking to set aside an insolvency notice issued by...

High Court

Bombay High Court Dismisses Stay Application in Arbitration Matter — Consent Order Not Stayed as No Prima Facie Case Made Out. Court held that a consent order passed under Section 9 of the Arbitration and Conciliation Act, 1996 cannot be stayed unless fraud or lack of jurisdiction is shown.

13 Feb 2013

The petitioner, Tata Capital Financial Services Limited, a non-banking finance company, had sanctioned an invoice discounting facility of Rs. 20,00,00...

High Court

Bombay High Court Dismisses Insolvency Petition Against Debtor Due to Non-Compliance with Section 9(3)(c) of Presidency Towns Insolvency Act, 1909 — Petitioning Creditor Failed to Prove Debtor's Act of Insolvency Within Three Months of Petition.

3 Sep 2010

The case concerns an insolvency petition filed by Kaushik Shah Shares & Securities Private Limited (substituted petitioning creditor) seeking to adjud...

High Court

Bombay High Court Dismisses Application to Set Aside Insolvency Notice in Debt Recovery Matter — Debt Recovery Tribunal's Decree Constitutes a Final Judgment Under Section 9(2) of Presidency-Towns Insolvency Act, 1909.

3 Apr 2006

The judgment debtor, Deepak Cochhar and another, filed a notice of motion seeking to set aside Insolvency Notice No. N/72 of 2004 issued by the Insolv...

Supreme Court

Supreme Court Dismisses Creditor-Bank's Appeal in Insolvency Notice Case — Recovery Certificate Issued by DRT Cannot Form Basis for Insolvency Notice under Section 9(2) of Presidency Towns Insolvency Act, 1909. The Court Holds That Term 'Decree or Order' in Section 9(2) Must Be Strictly Construed to Exclude Recovery Certificates as the Insolvency Act Carries Grave Civil Consequences and Insolvency Notice Is Not a Mode of Execution.

1 Jan 1970

The dispute arose from an attempt by a creditor-bank to initiate insolvency proceedings against a guarantor director based on a recovery certificate i...

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