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NCLAT Allows Section 7 Petition in Insolvency Case Due to Acknowledgment of Debt in Balance Sheets and Emails. Repeated acknowledgment of debt by Corporate Debtor in balance sheets and emails extends limitation period under Section 18 of Limitation Act, 1963, saving the petition from being time-barred.

The case involves an appeal filed by Akzo Nobel India Ltd. (Financial Creditor) against Stan Cars Pvt. Ltd. (Corporate Debtor) under Section 61 of the...

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Supreme Court Allows Appeal in Insolvency Case Due to Appellate Tribunal's Failure to Consider Evidence on Limitation. Matter Remanded to NCLAT for Fresh Consideration of Acknowledgment Under Section 18 of Limitation Act, 1963 in Context of Section 9 Insolvency and Bankruptcy Code, 2016 Application.

The dispute arose from an operational creditor's application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against a corporate debtor fo...

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Supreme Court Dismisses Review Petitions in Interest on Delayed Payments Case — Limitation Bar Upheld. Payment under Section 19 of Limitation Act, 1963 requires pleading and proof; Section 14 exclusion not available for different entity.

The Supreme Court dismissed three review petitions filed against its common judgment dated 23.01.2019, which had dismissed civil appeals by M/s Shanti...

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Bombay High Court Dismisses Petition Challenging Interim Arbitral Award in Loan Dispute. Court upholds arbitrator's power to pass interim award under Section 31(6) of Arbitration and Conciliation Act, 1996 for admitted liability of Rs.100 crores.

The petitioners, Deccan Chronicle Holdings Limited and Mr. T. Venkatram Reddy, filed a petition under Section 34 of the Arbitration and Conciliation A...

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Bombay High Court Dismisses Petition Challenging Termination Based on Resignation Withdrawal After Acceptance. Resignation Withdrawal Must Precede Acceptance to Be Valid Under MEPS Act, 1977.

The petitioner, Sayyed Maksood Ali Sayyed Roshid Ali, was appointed as an Assistant Teacher on 17-1-1985 and promoted as Head Master on 10-10-2004. He...

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Bombay High Court Dismisses Petition Challenging No-Confidence Motion Against Chairman of Panchayat Samiti — Motion Valid Despite Absence of Members. Section 35 of Maharashtra Zilla Parishads and Panchayat Samitis Act, 1961 does not require quorum for no-confidence meeting; notice properly served.

The petitioners, six elected members of Panchayat Samiti, Mahagaon, challenged the no-confidence motion passed against the Chairman, respondent no.3, ...