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Non-Executive Woman Director Quits “Willful Defaulter” Tag for Lack of Notice: Natural Justice Prevails High Court quashes declaration of "willful defaulter" against Non-Executive Woman Director citing violation of natural justice.

1. Introduction (Paras 1-3) The Petitioner, a Non-Executive Woman Director of PSL Limited, challenged a letter dated 16 July 2018 that declared her a...

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Corporate Insolvency Resolution and Moratorium Effects on Judicial Deposits" The judgment addresses the interplay between the Insolvency and Bankruptcy Code (IBC) moratorium provisions and judicial deposits in appellate proceedings.

This case examines Siti Networks Ltd.'s request to withdraw funds deposited in court as part of an ongoing appellate proceeding after entering the Cor...

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Supreme Court Clarifies Scope of Arbitration and Limitation in Insolvency Context. Balancing Arbitration Rights with Insolvency Proceedings under IBC and Limitation Law

  Factual Background HPCL Bio-Fuels Ltd., a government-owned entity, engaged M/S Shahaji Bhanudas Bhad for a turnkey project to enhance b...

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Implementation and Obligations in Corporate Resolution Plans Under IBC, 2016. Supreme Court clarifies conditions for adjusting Performance Bank Guarantees in insolvency resolutions.

The Supreme Court’s decision in State Bank of India & Ors vs. Consortium of Murari Lal Jalan and Florian Fritsch & Anr addresses key aspect...

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Supreme Court Dismisses NOIDA SEZ Authority Appeal on Resolution Plan for Shree Bhoomika International Ltd. Upholds Commercial Wisdom in the Corporate Insolvency Process.

The Supreme Court of India dismissed the appeal by the NOIDA Special Economic Zone (SEZ) Authority challenging the resolution plan approved by the Nat...

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Dispute Over Insolvency Proceedings and Settlement. A pivotal judgment addressing the scope of inherent powers under Rule 11 of NCLAT Rules for settling insolvency proceedings before the constitution of the Committee of Creditors.

The Supreme Court of India examined the legality of a settlement approved by the National Company Law Appellate Tribunal (NCLAT), which was challenged...

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"Supreme Court Upholds NCLAT's Admission of CIRP Application Against Corporate Debtor" Acknowledgment of debt in balance sheets and OTS letters extend the limitation period under Section 18 of the Limitation Act.

The Supreme Court dismissed an appeal challenging the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor by UCO...

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Suspension of Resolution Professional Confirmed by Bombay High Court. Bombay High Court dismisses the writ petition challenging the suspension of Resolution Professional’s registration for failure to perform duties as per IBC regulations.

The High Court of Bombay upheld the decision of the Disciplinary Committee of the Insolvency and Bankruptcy Board of India (IBBI) to suspend the petit...

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Demand for Tax Dues Prior to Acquisition Quashed Under IBC Provisions. Bombay High Court rules that tax dues from before the acquisition of a company under the Insolvency and Bankruptcy Code (IBC) cannot be recovered from the buyer of the assets during liquidation proceedings.

The petitioner, sought to quash demand notices issued by the Gram Panchayat, Gowari, seeking recovery of outstanding tax dues pertaining to the period...