Search Results for "Liquidation"

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Search Results for "Liquidation"

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Supreme Court

Supreme Court Allows Workman's Appeal on Distribution of Company Assets in Liquidation. Holds that Secured Creditors Have Pari Passu Charge Only Over Properties Specifically Charged, Not All Assets; Workmen Have Priority for Uncharged Properties Under Sections 529 and 529A Companies Act, 1956.

1 Aug 2026

The dispute arose from the winding up of U.M.I. Special Steel Limited, a company registered under the Companies Act, 1956. The company became sick, an...

Supreme Court

Supreme Court Allows Liquidator's Appeal on Limitation Grounds in Insolvency Proceeding. Limitation period under Section 61 of the Insolvency and Bankruptcy Code, 2016 runs from the date the order is made available, not from pronouncement, applying Section 420(3) of the Companies Act, 2013 and Rule 50 of the National Company Law Tribunal Rules, 2016 for free copies.

22 Oct 2021

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dated 13 July 2020, which dismissed the appellant's appeal as ...

High Court

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.

2 Nov 2018

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

High Court

Bombay High Court Allows Writ Petition Quashing Attachment Notices Against Third-Party Purchaser for Excise Dues of Defaulter. Central Excise Cannot Attach Property Sold Prior to Creation of Dues Without Notice to Purchaser Under Section 11 of Central Excise Act, 1944.

22 Apr 2021

The Petitioner, M/s Runwal Constructions, a partnership firm registered under the Indian Partnership Act, 1932, engaged in construction and developmen...

High Court

High Court of Karnataka Dismisses Company Application Seeking Recall of Winding Up Petition Admission Order Against Kingfisher Airlines Limited. Company Court Has No Power to Recall or Review Its Own Order Admitting a Winding Up Petition Under the Companies Act, 1956.

11 Dec 2013

The applicant, Kingfisher Airlines Limited, filed an application under Section 466 of the Companies Act, 1956, seeking recall of the order dated 30.10...

High Court

High Court of Bombay at Nagpur Bench Allows Writ Petition Against Bank for Withholding Title Deeds After Full Loan Repayment — Section 171 of Indian Contract Act, 1872 Does Not Confer Right of General Lien on Banks Over Security Documents Once Loan Is Fully Discharged.

13 Jun 2022

The petitioner, Sunil s/o Ratnakar Gutte, approached the High Court of Bombay at Nagpur Bench by way of a writ petition against Union Bank of India. T...

Tribunals

NCLAT Allows Appeal by Central Transmission Utility of India Ltd. Against NCLT Order Restraining Termination of Transmission Service Agreement During CIRP. The Appellate Tribunal held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar termination of a contract for pre-CIRP defaults by the corporate debtor, and that the Resolution Professional cannot compel performance of a contract that has been validly terminated prior to the moratorium.

30 Jun 2021

The appeal was filed by Central Transmission Utility of India Ltd. (CTUIL) against an order of the National Company Law Tribunal (NCLT), Hyderabad, da...

High Court

High Court of Judicature at Bombay, Aurangabad Bench, Considers Multiple Writ Petitions Against Maharashtra State Co-operative Bank's Securitisation Action Over Sugar Factory Assets. The Core Legal Question is Whether a Co-operative Bank Qualifies as a 'Bank' Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, and the Validity of Measures Taken Under Section 13(4) Thereof.

19 Dec 2006

The matter arose from multiple writ petitions filed before the Bombay High Court (Aurangabad Bench) concerning the assets of Shankar Sahakari Sakhar K...

High Court

Bombay High Court Quashes Assessment Orders Against Former Directors in GST Case — Personal Liability Cannot Be Imposed Without Shedding Corporate Veil. Directors Who Resigned Prior to Tax Period Cannot Be Held Liable for Company's Tax Dues Under MGST Act, BST Act, and CST Act Without Lifting Corporate Veil.

22 Aug 2022

The petitioners, Mukesh D. Ramani, Satish D. Sanghavi, and Prakash D. Sanghavi, were former directors of Twin City Organics Pvt. Ltd. They filed writ ...

High Court

High Court of Bombay Examines Whether Civil Suit for Recovery Survives Approval of Resolution Plan Under Insolvency and Bankruptcy Code, 2016. The petition raises the question of the overriding effect of the IBC on pending civil proceedings.

28 Mar 2019

The matter arose from a summary suit filed by respondent No.1, a proprietary concern, under Order XXXVII of the Code of Civil Procedure, 1908, for rec...

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