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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Supreme Court Upholds High Court in Capital Gains Tax Case — Accrual Occurs on Date of Award, Not Notification. Transfer of Capital Asset Under Section 45 of Income-tax Act, 1961 Is Complete Only When Compensation Is Determined by Collector's Award, Even if Possession Taken Earlier.

The case concerns the assessment year 1971-1972 for the assessee Amrik Singh HUF, whose land was acquired by the Haryana Government for a college play...

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Supreme Court Allows Builder's Appeals in Consumer Cases, Sets Aside Refund Order. Clause 11.4 of Builder-Buyer Agreement Limits Developer's Liability to Refund Only if Agreement is Terminated; Allottees Not Entitled to Refund Without Termination.

The appeals arise from a common judgment of the National Consumer Disputes Redressal Commission (NCDRC) in ten consumer cases filed by allottees again...

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Bombay High Court Dismisses Appeal Against Refusal to Set Aside Ex-Parte Decree in Summary Suit — Defendant Failed to Show Sufficient Cause for Non-Appearance. Order XXXVII Rule 4 CPC Requires Strict Compliance with Conditions for Setting Aside Ex-Parte Decree.

The appellant, Purnendu Shekharmal Jain, was the original defendant in Summary Suit No. 2539 of 2012 filed by M/s ACG Associated Capsules P Ltd. An ex...

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NCLAT Clarifies Certified Copy Requirement for Filing Appeal Under Section 61 of IBC, 2016. The court held that an uncertified copy can be filed, but limitation runs from receipt of certified copy.

This judgment arises from a reference made to a single member bench of the National Company Law Appellate Tribunal (NCLAT) at Chennai due to a dissent...