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Supreme Court Allows Appeal in Part in Foreign Currency Arbitral Award Enforcement Case. Twin Principles Laid Down: Date of Enforceability for General Conversion, Date of Deposit for Amounts Deposited in Court.

The Supreme Court addressed the issue of the correct date for converting a foreign currency arbitral award into Indian rupees for enforcement. The app...

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NCLAT Allows Appeal Against Exclusion of Personal Guarantors from CoC in CIRP of Corporate Debtor — Re-constitution of Committee of Creditors Set Aside. Personal Guarantors Are Not Members of Committee of Creditors Under Section 21(2) of Insolvency and Bankruptcy Code, 2016.

The National Company Law Appellate Tribunal (NCLAT) heard an appeal against an order of the Adjudicating Authority (NCLT, Chandigarh Bench) dated 01.0...

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Restitution in Court Auction Sales: Upholding Justice Amidst Procedural Challenges Interpretation and Application of Section 144 CPC

Restitution of Judgment Debtors in Court Auction Sales: Interpretation and Application of Section 144 CPC The legal issue in this appeal revolves aro...

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Bombay High Court Dismisses Appeal Against Execution of Consent Decree in Commercial Suit — Decree Not Null and Void Despite Alleged Non-Compliance with Order XXIII Rule 3 CPC. Court Holds That a Consent Decree Can Be Executed Even If It Contains Terms Beyond the Suit, Provided Parties Freely Consented.

The case arises from a commercial suit (Suit No. 119 of 2016) filed by Mahesh P. Raheja, Preeti P. Raheja, and Shakuntala P. Raheja (Respondent Nos. 1...

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Bombay High Court Allows Debenture Trustee's Claim for Payment from Suit Amount Held by Court Receiver in Priority Over Assignee of Decree. The court held that an assignee of a decree steps into the shoes of the assignor and cannot claim priority over the original decree holder who is a debenture trustee.

The dispute arose from a suit filed by ICICI Bank Ltd. (plaintiff) as debenture trustee for holders of 15% non-convertible debentures issued by Pal Pe...

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Bombay High Court Dismisses Winding Up Petition Based on Ex-Parte US Default Judgment — Foreign Decree Not a Debt Under Section 433(e) Companies Act, 1956 Without Satisfying Conditions for Enforcement in India.

The petitioner, Marine Geotechnics LLC, an American company, obtained an ex-parte default judgment against the respondent, Coastal Marine Construction...

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Bombay High Court Allows Interest on Delayed Payment of Labour Court Award Under Section 33-C(2) of Industrial Disputes Act, 1947 — Interest Act, 1978 and Article 226 of Constitution Invoked to Prevent Miscarriage of Justice.

The petitioner, Mrs. Prabhavati Ramgarib B., filed a writ petition under Article 226 of the Constitution of India challenging the order of the Central...

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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.

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...