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High Court of Karnataka Allows Appeal by KSFC Against Dismissal of Recovery Petition as Barred by Limitation. Surety Liability Not Extinguished by Company's Liquidation Under Section 31(1)(aa) of State Financial Corporations Act, 1951.

The appellant, Karnataka State Industrial Investment and Development Corporation (now KSIDC), filed an appeal under Section 32(9) of the State Financi...

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Bombay High Court Allows Official Liquidator's Report in Winding Up of Transpower Engineering Ltd. — Holds Sale by Liquidator is Formal Transfer Not Subject to Differential Premium. Court exercises powers under Section 446(2) of Companies Act, 1956 to waive extension charges claimed by MIDC.

The Official Liquidator filed a report seeking directions regarding the sale of two industrial plots allotted by MIDC to Transpower Engineering Ltd. (...

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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.

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...

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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.

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

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Bombay High Court Dismisses Appeal Against Striking Off Defence in Foreign Award Enforcement. Non-compliance with interim orders under Section 9 of Arbitration and Conciliation Act, 1996 leads to striking off defence under Order 39 Rule 11 CPC.

The appeal arose from a judgment of a learned Single Judge of the Bombay High Court dated 4 October 2012, which allowed a motion under Order 39 Rule 1...

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Bombay High Court Dismisses Debtors' Motion to Set Aside Insolvency Notice in Consent Decree Dispute. Failure to Pay Agreed Amount by Stipulated Date Renders Debtors Liable for Full Decretal Amount Under Presidency Towns Insolvency Act, 1909.

The petitioning creditor, Videocon Industries Ltd., filed Suit No. 1891 of 2000 against M/s Akar Laminators and the two judgment debtors, V.T. Seth & ...