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NCLAT Allows Interim Deposit in CIRP Challenge Based on Pre-Existing Dispute. Appellant permitted to deposit Rs. 1 crore pending final decision, subject to outcome of appeal under Section 9 of Insolvency and Bankruptcy Code, 2016.

The case involves an appeal filed by B. Parvathaiah, erstwhile director of Vivin Drugs & Pharmaceuticals Pvt. Ltd., against an order dated 11.01.2024 ...

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NCLAT Partially Allows Appeal Against Bankruptcy Declaration, Holds SEBI Penalty as Excluded Debt Under IBC. Personal Guarantor's Bankruptcy Petition Admitted but SEBI Penalty Excluded from Discharge as 'Fine' Under Section 79(15)(a) of IBC.

The appellant, Ms. G.V. Marry, was a personal guarantor to BRG Energy Ltd., a company incorporated in 2006 under the Companies Act, 1956. She filed an...

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Supreme Court Upholds Interim Protection in Oppression and Mismanagement Petition Under Companies Act, 2013. Court Extended Restraint on Construction and Permitted Limited Protective Works to Preserve Subject Matter of Dispute Pending Adjudication by NCLT.

The dispute arose from a company petition filed by the appellants under Sections 241, 242, 244, and 59 of the Companies Act, 2013, alleging oppression...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Service Agreement Dispute. Court holds that an arbitral award granting refund of mobilization advance and damages for breach of contract does not warrant interference under Section 37 of the Arbitration and Conciliation Act, 1996.

The petitioner, Hind Offshore Private Limited, filed a petition under Section 37 of the Arbitration and Conciliation Act, 1996, challenging an order d...

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Madras High Court Allows Appeal in Recovery Suit Filed by Newspaper Publisher Against Advertising Agency for Unpaid Bills. Court Decrees Suit for Principal Amount with Interest at 6% Per Annum.

The appellant, Kasturi and Sons Ltd., publisher of 'The Hindu' and other publications, filed a suit for recovery of Rs.10,03,322.50/- against the resp...

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High Court of Karnataka Allows Appeal in Credit Card Recovery Suit — Reduces Usurious Interest Rate of 2.5% per Month Compounded Monthly to 6% per Annum Simple. Contractual interest held unconscionable and against public policy under Section 34 CPC.

The appellant, B. Gopa Kumar, was a credit card holder of Canara Bank (respondent) and was issued a Cancard-Visa card in 1998. He defaulted on payment...

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High Court of Karnataka Dismisses Land Acquisition Challenges for Housing Scheme — Upholds Notifications Under Land Acquisition Act and Karnataka Housing Board Act. Petitioners failed to demonstrate any violation of statutory provisions or fundamental rights in acquisition for public purpose.

The judgment concerns a batch of writ petitions filed by landowners challenging the acquisition of their lands for a housing scheme by the Karnataka H...