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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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HDFC Bank Cleared of Criminal Charges: FIR Quashed by Supreme Court. Supreme Court rules in favor of HDFC Bank, quashing FIR related to alleged violations of prohibitory orders concerning a bank locker.

The Supreme Court set aside a 2022 judgment from the Patna High Court and quashed an FIR filed against HDFC Bank and its officials. The FIR had allege...

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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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Petition Challenging Clause 3(ii) of Public Notice No. 55 of 2024 Dismissed by High Court. High Court clarifies Clause 3(ii) requirement for explanation of identical FOB values under the ASEAN-India Preferential Trade Agreement, upholding procedural verification for customs compliance.

The High Court dismissed the Petition challenging Clause 3(ii) of Public Notice No. 55/2024, dated June 24, 2024, and affirmed that requiring importer...

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Auction Set Aside on Equitable Grounds: Auction Purchaser Compensated with Interest. Supreme Court modifies High Court orders to grant 6% interest to auction purchaser for delay in refund after auction cancellation.

The Supreme Court partially allowed the appeal of the auction purchaser, who was deprived of the use of Rs.81,20,000 due to the cancellation of an auc...

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Resolution of Property Dispute Through Legal Validation and Evidence

A property dispute between M/s Honesty Land Developers and the defendants, where the appellants claim possession and ownership of certain plots in Aur...

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Supreme Court Upholds High Court Order: IDBI Bank's Cancellation of Auction Sale Declared Invalid. Appellant-Bank cannot withhold the sale certificate without proper justification; the auction purchaser's non-deposit of balance sale consideration not considered default.

The Supreme Court dismissed IDBI Bank's appeals, holding that the bank was unjustified in canceling the auction sale of a property in Bogaram village,...