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Search Results for "BIFR jurisdiction"

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Supreme Court

Supreme Court Dismisses Appeal in Sick Industrial Companies Act Case Due to Non-Compliance with Statutory Auction Requirements. Auction Held Invalid as Reserve Price Not Notified in Auction Notice Under Section 21(c) of Sick Industrial Companies (Special Provisions) Act, 1985, and Procedural Fairness Lacking.

27 Apr 2023

The appeal concerned the validity of an auction conducted by Industrial Development Bank of India (IDBI) as the Operating Agency for the sale of asset...

High Court

Bombay High Court Dismisses Appeals by Employees' Union and Individual Claimant in Company Liquidation Dispute — Upholds Official Liquidator's Decision to Reject Claims as Time-Barred Under Section 529A of Companies Act, 1956. The court held that workmen's dues, though entitled to priority, must be claimed within the limitation period prescribed under Rule 148 of the Company Court Rules, 1959.

8 Aug 2019

The case involves two appeals filed by the Kamani Employees' Union and Mrs. Triveni A. Kulkarni against the Official Liquidator and others. The disput...

High Court

Bombay High Court Dismisses Appeal Against Refusal of Leave to Execute Consent Decree in Company Liquidation. Consent Decree Declared Void as Fraudulent Preference Under Section 446 of Companies Act, 1956.

24 Sep 2018

The appeal arose from an order of the Company Judge refusing leave under Section 446 of the Companies Act, 1956 to the appellant, Forbes & Company Lim...

High Court

High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.

7 Sep 2017

The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...

High Court

Bombay High Court Dismisses Employee's Writ Petition Challenging Industrial Court Order in Gratuity Dispute — BIFR Scheme Under SICA Overrides Payment of Gratuity Act. The court held that a rehabilitation scheme sanctioned by BIFR under SICA is binding on all employees and the employer's payment of gratuity as per the scheme constitutes a valid discharge of its liability under the Payment of Gratuity Act, 1972.

24 Jun 2016

The writ petition was filed by Suryakant Ramchandra Mahadik, an erstwhile employee of Khatau Makanji Spinning and Weaving Mills Ltd., challenging an a...

High Court

Bombay High Court Directs Official Liquidator to Adjudicate Workmen's Claims in Winding Up of KMA Ltd. Under Sections 529A and 530 of Companies Act, 1956. Industrial Court's Order on Unpaid Wages Held Binding on Official Liquidator.

6 Jan 2016

The judgment concerns two company applications filed in the winding up of KMA Ltd. (in liquidation). Company Application No.593 of 2011 was filed by a...

High Court

Bombay High Court Directs Official Liquidator to Adjudicate Workmen's Claims in Winding Up of KMA Ltd. Under Sections 529A and 530 of Companies Act, 1956. The court held that the Official Liquidator must consider the Industrial Court's order dated 2 July 2005 in adjudicating claims of workmen.

6 Jan 2016

The judgment concerns two company applications filed in the winding up proceedings of KMA Ltd. (in liquidation). Company Application No. 593 of 2011 w...

High Court

Bombay High Court Dismisses Writ Petitions in Industrial Dispute Over Unfair Labour Practice - Upholds Payment of Wages for Lockout Period but Denies Reinstatement. The court held that an illegal lockout entitles workmen to wages, but reinstatement cannot be granted in a closed mill under the MRTU & PULP Act, 1971.

26 Jun 2014

The judgment involves two writ petitions arising from an order of the Industrial Court, Mumbai dated 14 February 2003. The Sarva Shramik Sangh, a trad...

High Court

Bombay High Court Allows Winding Up Petition Against Company for Failure to Repay Convertible Bonds — Debt Admitted and Company Unable to Pay Under Section 433(e) of Companies Act, 1956. The court held that where a debt is admitted and the company is commercially insolvent, a winding up order is justified.

30 Jul 2013

The Bank of New York Mellon, London Branch, as trustee for bondholders, filed a winding up petition under Section 433(e) of the Companies Act, 1956 ag...

High Court

Bombay High Court Dismisses Writ Petition Challenging Gratuity Order Against Sick Company — Payment of Gratuity Act, 1972 Overrides SICA Scheme. The court held that the statutory liability to pay gratuity under the Payment of Gratuity Act, 1972 cannot be overridden by a rehabilitation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985.

2 May 2006

The petitioner, Metal Box India Ltd., a company incorporated under the Companies Act, 1956, challenged an order dated 16.11.2002 passed by the Appella...

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