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High Court Adjudicates on Official Liquidator's Report on Claims of Secured Creditors in Company Liquidation. Distribution of Sale Proceeds from Assets of Company Under Liquidation Determined Based on Debts Recovery Tribunal Order.

The matter concerned the winding up of Maharashtra Explosives Ltd., a company incorporated under the Companies Act, 1956. By order dated 12-8-2001, th...

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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Dismisses Appeal Against Refusal of Anti-Arbitration Injunction in Facilitation Deed Dispute. Court Holds That Arbitral Tribunal Has Competence to Decide Validity of Underlying Agreement Under Section 45 of the Arbitration and Conciliation Act, 1996.

The appeal arises from a commercial dispute between MSM Satellite (Singapore) Pte Ltd. (Sony) and World Sport Group (Mauritius) Limited (WSG) concerni...

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Karnataka High Court Division Bench Hears Revenue’s Appeals Against Single Judge’s Order Quashing Section 153C Notices; Weighs Maintainability of Writ Petitions and Natural Justice Concerns.

The present judgment arises from a batch of writ appeals filed by the Revenue against a common order dated 12.08.2022 passed by a Single Judge of the ...

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Bombay High Court Delivers Oral Judgment on Petitions Challenging SEBI's Show Cause Notices to Auditors of Satyam Computers. Question of SEBI's Jurisdiction under Sections 11, 11B, and 11(4) of SEBI Act Raised in Wake of Satyam Fraud Disclosure.

The matter arose from writ petitions filed by Price Waterhouse & Co. and other chartered accountant firms along with individual partners challenging t...

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High Court of Bombay Hears Appeal Challenging CLB Order Allowing Ingress into Plant Disputed under Business Transfer Agreement. Court Notes Contradictory Affidavits and Abuse of Process by Appellant in Claiming Possession.

The appeal arose from a Company Law Board order allowing Respondent No. 2, Rajinder Kumar Malhotra (RKM), access to Plant No. 2 of Vidyut Metallics Pv...