Search Results for "voluntary liquidation"

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Search Results for "voluntary liquidation"

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Supreme Court

Supreme Court Allows Operational Creditors to Pursue Civil Suit and Arbitration Post-Resolution Plan — Notional Claims Not Extinguished. The Court held that claims admitted at a notional value of Re. 1 due to pending disputes are not barred by the approved resolution plan under the Insolvency and Bankruptcy Code, 2016.

1 Jan 2026

The case involves appeals by M/s Tata Steel Ltd., the successful resolution applicant (SRA) for Bhushan Steel Limited (BSL), against orders of the Bom...

High Court

Bombay High Court Allows Writ Petition Challenging Rejection of Declaration Under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 — Directs Reconsideration of Declaration Due to Non-Application of Mind by Designated Committee. The court quashed the rejection order and subsequent show cause notice, holding that the designated committee must apply its mind and provide reasons when rejecting a declaration under the scheme.

1 Mar 2021

The petitioner, Magnum Management and Services P Ltd, a private limited company engaged in supplying manpower and registered under Chapter V of the Fi...

Supreme Court

Supreme Court Allows Club's Appeal in Wealth Tax Case — Club Not Liable as Association of Persons Under Section 21AA of Wealth Tax Act. Members' Shares in Assets on Winding-Up Are Determinate Under Club Rules, and Club's Non-Commercial Character Excludes It from 'Association of Persons' in Taxing Statutes.

8 Sep 2020

The Supreme Court allowed the appeals filed by Bangalore Club against the judgment of the Karnataka High Court, which had held the Club liable to pay ...

Supreme Court

Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that AGR dues are final and no fresh disputes can be raised, and directed examination of whether insolvency proceedings under IBC are a subterfuge.

20 Jul 2020

The Supreme Court was hearing applications in the ongoing AGR dues matter, where the Union of India sought extension of time for payment. The Court ha...

High Court

High Court Dissolves Company in Member's Voluntary Winding Up Under Section 497(6) of Companies Act, 1956 — Official Liquidator's Report Found in Order. The court ordered dissolution of M/s. Thermotreat Engineers Private Limited from the date of submission of the Official Liquidator's report.

10 Jul 2020

The Official Liquidator attached to the High Court of Karnataka filed a report under Section 497(6) of the Companies Act, 1956, seeking dissolution of...

High Court

High Court of Karnataka Dissolves Company in Voluntary Winding Up Under Section 497(6) of Companies Act, 1956. Official Liquidator's Report Confirms Compliance with Statutory Requirements and No Objections.

10 Jul 2020

The Official Liquidator attached to the High Court of Karnataka filed a report under Section 497(6) of the Companies Act, 1956, seeking the dissolutio...

Supreme Court

Supreme Court Allows Secured Creditor's Winding Up Petition Despite DRT Decree — Recovery of Debts Act Does Not Bar Winding Up Proceedings Under Companies Act. Secured Creditor Need Not Relinquish Security Before Admission of Winding Up Petition; Election Arises Only After Winding Up Order Under Section 529 Companies Act, 1956.

29 Jan 2019

The case involves the right of a secured creditor, Kotak Mahindra Bank Ltd., to file a winding up petition under the Companies Act, 1956, after having...

High Court

Bombay High Court Quashes EPF Recovery Notices Against Purchaser of Company in Liquidation — Section 17B of EPF Act Not Attracted When Transfer is by Official Liquidator Under Court Supervision. The court held that the Official Liquidator is not the 'employer' under Section 17B of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, and the sale by him does not attract joint liability for prior provident fund dues.

23 Nov 2017

The petitioner, Vibhu Drinks Private Limited, purchased a property from the Official Liquidator of M/s Niranjan Ayurved Bhavan Limited (a company in l...

High Court

High Court of Karnataka Dismisses Writ Petitions Challenging Voluntary Retirement Scheme Computation for Sick Unit Employees. Computation of ex-gratia amount under VRS for sick units based on last drawn salary and remaining service is valid and not arbitrary.

27 Jul 2016

The petitioners were employees of Mandya National Paper Mills (MNPM), a company incorporated under the Companies Act that suffered huge losses. The Ce...

High Court

Bombay High Court Dismisses Appeal Against Official Liquidator's Report Seeking Declaration of Sale as Null and Void in Company Liquidation. Transfer of Leasehold Rights by Company in Liquidation Without Court Sanction Held Invalid Under Section 536(2) of Companies Act, 1956.

11 Jan 2013

The appeal arose from a judgment of the learned Company Judge allowing the Official Liquidator's report seeking a declaration that the sale of immovab...

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