Search Results for "Liquidation"

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Search Results for "Liquidation"

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Supreme Court

Supreme Court Allows Appeal in Insolvency Case Regarding Security Interest and Pledge of Shares — NCLAT Order Set Aside. The Court held that the Corporate Debtor's creation of security by way of pledge of shares of its subsidiary in favour of the appellants constituted a valid security interest under the Insolvency and Bankruptcy Code, 2016, and the moratorium under Section 14 does not bar the enforcement of such security by a secured creditor.

24 Aug 2020

The present appeal arises from an order of the National Company Law Appellate Tribunal (NCLAT) dated 24.08.2020, which dismissed the appeal filed by t...

High Court

Bombay High Court Directs Conditionally Leaves to Defend for Guarantors in Summary Suit, Rejecting DRT Jurisdiction and IBC Moratorium Claims. A Non-Banking Financial Institution's Summary Suit Against Guarantors is Maintainable Under Order XXXVII CPC, and Section 14 IBC Moratorium Does Not Bar Proceedings Against Guarantors.

28 Nov 2017

The plaintiff, a non-banking financial institution, filed a summary suit under Order XXXVII of the Code of Civil Procedure, 1908 against two guarantor...

High Court

High Court of Karnataka Orders Dropping of Proceedings Against Mistakenly Arrested Person in Company Liquidation Case — Violation of Article 21. Applicant arrested due to similarity of father's name with ex-director of company in liquidation, despite not being the same person.

7 Jul 2022

The applicant, Sri Ningaraju N, filed an application under Rules 6 and 9 of the Companies (Court) Rules, 1959 seeking dropping of proceedings against ...

High Court

High Court of Karnataka Quashes NCLT Order Directing State to Permit Windmill Operations in Insolvency Case. NCLT Exceeded Jurisdiction by Exercising Judicial Review Over Administrative Decision, Following Supreme Court Decision in Embassy Property Developments v. State of Karnataka.

13 Apr 2023

The dispute arose out of insolvency proceedings against M/s Wind World (India) Limited, which held a lease over forest land for operating windmills. T...

Supreme Court

Supreme Court Upholds NCLAT Decision on Limitation in Insolvency Petition Initiated by Financial Creditor. Application Under Section 7 of Insolvency and Bankruptcy Code, 2016 Held Within Limitation After Excluding Time Spent in SARFAESI Proceedings Under Section 14(2) of Limitation Act, 1963.

22 Mar 2021

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dismissing an appeal against an order of the National Company ...

Supreme Court

Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

9 Aug 2019

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

High Court

High Court of Judicature at Bombay Adjudicated Interim Application for Summary Judgment in Commercial Admiralty Suit Seeking Recovery of Port, Berthing, Salvage, and Associated Charges Against a Vessel. Summary Judgment Sought Under Order XIII-A Read with Order XII Rule 6 of Code of Civil Procedure, 1908 for Rs.9,37,19,098 with Interest at 18% Per Annum on Ground That Claims Were Admitted/Undisputed and Defendants Had No Real Prospect of Successfully Defending.

3 Jan 2022

The present matter was an Interim Application filed before the High Court of Judicature at Bombay in its Admiralty and Vice Admiralty Jurisdiction. Th...

High Court

Bombay High Court Allows SVLDRS Declaration for Tax Dues Quantified Before Cut-Off Date - Petitioner's Letter Admitting Liability and Department's Demand Letter Constitute Quantification Under Section 121(r) of Finance (No.2) Act, 2019. The court held that a written communication of duty liability admitted by the person during enquiry, investigation or audit, including a letter intimating duty demand or duty liability admitted, qualifies as quantification under the scheme.

6 Aug 2024

The petitioner, Eka Academy Private Limited, received an email from the GST audit team on 5th April 2019 regarding a service tax mismatch for Financia...

Supreme Court

Supreme Court Upholds Execution Against Bhumidhari Rights and Trees Under U.P. Encumbered Estates Act. Bhumidhari Rights Held Not to be Proprietary Rights, and Trees Not Vesting in State are Debtor's Property Liable to Execution.

25 Sep 1969

The dispute arose from execution proceedings under the Uttar Pradesh Encumbered Estates Act, 1934. The predecessors-in-interest of the appellants were...

Supreme Court

Supreme Court Dismisses Corporate Debtor's Appeal Against Admission of Insolvency Application Under Insolvency and Bankruptcy Code, 2016. Erstwhile Directors Cannot Maintain Appeal After Appointment of Insolvency Professional, Signaling Paradigm Shift to Inability of Management to Continue if Unable to Pay Debts.

1 Aug 2026

Background: The case arose under the newly enacted Insolvency and Bankruptcy Code, 2016 (IBC), which came into force in November-December 2016. The ap...

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