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Bombay High Court Sanctions Scheme of Arrangement in Company Petition for Revival of Sick Pharmaceutical Company. Scheme under Section 391 of Companies Act, 1956, Approved Involving Settlement of Secured Creditors' Dues through Cash and Securities.

The Pharmaceutical Products of India Limited (PPIL), a company incorporated under the Companies Act, 1956, filed two company petitions under Section 3...

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Bombay High Court Examines Whether Temporary Injunction to Restrain Alienation Pending Suit is Necessary Despite Section 52 of Transfer of Property Act, 1882. The Court Revisits Its Earlier Decision in Sharad Mor's Case in the Context of Multiple Appeals from Orders Refusing Injunctions.

These appeals raised a common question about the necessity of granting a temporary injunction to restrain a defendant from creating third party intere...

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Supreme Court Allows Carrying Cost in Change in Law Claims Under PPA — Restitutionary Principle Upheld. Article 13.2 of Power Purchase Agreement Entitles Generating Company to Carrying Cost from Date of Change in Law Till Approval.

The case involves appeals by Uttar Haryana Bijli Vitran Nigam Ltd. and Dakshin Haryana Bijli Vitran Nigam Ltd. (Haryana Discoms) and Gujarat Urja Vika...

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Supreme Court Allows Appointment of Arbitrator in Dispute Over Encashment of Performance Bank Guarantee After Full Contractual Performance. Arbitration Clause Covers Dispute Despite Completion of Contract and Payment.

The petitioner, M/S Glock Asia-Pacific Ltd., filed an application under Section 11(6) of the Arbitration and Conciliation Act, 1996, seeking appointme...

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Supreme Court Validates Sub-Classification of Scheduled Castes in Landmark Judgment. Upholding Equality Within Equality: Supreme Court Endorses State's Power to Sub-Classify Scheduled Castes for Targeted Reservation.

The Supreme Court of India, in a significant ruling, has upheld the constitutionality of sub-classifying Scheduled Castes for the purpose of reservati...

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Bombay High Court Disposes Pending Applications and Show Cause Notices in Scheme of Compromise Under Section 391 of Companies Act, 1956. Criminal Proceedings Under Maharashtra Protection of Interest of Depositors Act, 1999 Allowed to Continue Notwithstanding Sanction of Scheme.

The matter arose from a scheme of compromise and arrangement proposed by Europlast India Ltd. under Section 391 of the Companies Act, 1956. The unsecu...

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Supreme Court Allows Appeal in Arbitration Appointment Case — Withdrawal of Section 11 Petition Does Not Bar Fresh Application Under IBC. Order 23 Rule 1 CPC Not Applicable to Arbitration Petitions; Section 9 IBC and Section 11 Arbitration Act Seek Different Reliefs.

The Supreme Court allowed the appeal filed by M/s HPCL Bio-Fuels Ltd. against the judgment of the Bombay High Court which had appointed a sole arbitra...