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NCLT Chennai Allows Dissolution of Company in Voluntary Liquidation Under Section 59(7) IBC, 2016. The Liquidator's petition for dissolution was allowed upon satisfaction of compliance with voluntary liquidation requirements.

The National Company Law Tribunal, Chennai Division Bench, allowed a petition filed by the Liquidator, Mrs. Aneetha Subramaniam, under Section 59(7) o...

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Supreme Court Dismisses Appeal in Specific Performance Suit — Concurrent Findings of Fact Not Interfered With. Readiness and Willingness Not Proved Despite Loan Approval.

The appellant, Ritu Saxena, filed a suit for specific performance of an Agreement dated July 18, 2004, for the purchase of a flat in New Delhi for Rs....

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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Karnataka High Court Dismisses Winding Up Petition by Ex-Director Against Company for Disputed Interest Claim. Company Petition under Section 433(e) of Companies Act, 1956 dismissed as debt was bona fide disputed and no written agreement for interest existed.

The petitioner, Mr J R Srinivasa, an ex-director of the respondent company Sree Gururaja Enterprises Pvt Ltd, filed a winding up petition under Sectio...

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Bombay High Court Dismisses Petition Challenging Tender Award for Rabies Vaccine Supply. Performance Certificate Not in Prescribed Proforma Held Directory, Not Mandatory, as Substantial Compliance and Public Interest Justify Award.

The petitioners, Bharat Biotech International Ltd, challenged the grant of a contract by the Municipal Corporation of Greater Mumbai (MCGM) for the su...

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Bombay High Court Quashes Tender Award in Municipal Contract Case for Violation of Tender Conditions and Lack of Transparency. The Court held that the Corporation's decision to award the contract to a technically disqualified bidder was arbitrary and unsustainable.

The case involves a writ petition filed by Kirloskar Brothers Limited (Maharashtra Electro-mech Joint Venture) challenging the tender process conducte...

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Bombay High Court Quashes Tender Condition in Octroi Collection Contract for Being Arbitrary and Unreasonable. Condition requiring prior experience of octroi collection in a municipal corporation with population of 10 lakhs or more held to be irrational and intended to favour predetermined bidders.

The Bombay High Court disposed of two writ petitions challenging the terms and conditions of a tender notice issued by the Nashik Municipal Corporatio...