Search Results for "liquidation"

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Supreme Court of India — Appeal Dismissed — No Ownership or Leasehold Rights Conferred — Remedy for Recovery of Possession or Unearned Income Kept Open

Lease Agreement Not Executed — No Transfer of Leasehold Rights — Auction Sale on 'As Is' Basis — Rights Under Lease Agreement Limited — Liquid...

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Supreme Court Allows Priority to Secured Creditors Over Attached Assets in NSEL Scam Case. Secured Creditors Under SARFAESI Act and RDB Act Have Priority Over Attachments Under PMLA and MPID Act, and Moratorium Under IBC Does Not Bar Execution Against Properties Attached Under MPID Act.

The Supreme Court in this judgment addressed two priority questions of law arising from the NSEL scam, where the petitioner, National Spot Exchange Li...

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"Temporary Appointment of Staff in Liquidation Cases: A Legal Analysis under Rules 308 and 309" Balancing Liquidation Needs with Legal Sanctions

The Bombay High Court (Nagpur Bench), in Company Application No. 48/2024, addressed the appointment of a Peon (MTS) in liquidation proceedings under R...

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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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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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Bombay High Court Quashes Stamp Duty Demand in Auction Case. Court clarifies that market value determined in judicial auctions cannot be independently reassessed by stamp authorities.

The Bombay High Court has quashed a demand notice issued for deficit stamp duty and penalty. The Court held that where a property is sold under a cour...

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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...

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A Legal Battle over Tender Process Cancellation. High Court of Bombay Reviews the Legality of Liquidation Proceedings and Tender Cancellation in the Public Distribution System

This judgment pertains to the legal dispute between Creative Consumers Cooperative Society and the State of Maharashtra regarding the cancellation of ...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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Supreme Court Directs SEBI to Liquidate Sai Group of Companies' Assets to Refund Investors Comprehensive Mandate Issued for Asset Auction and Investor Refund Process

The petitioners, a family of three, have invoked the jurisdiction of the Supreme Court under Article 32 of the Indian Constitution, seeking several di...