Search Results for "Presidency Towns Insolvency Act, 1909"

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Bombay High Court Allows Writ Petition Quashing MPID Act Attachment Against Corporate Debtor's Property. Section 32A IBC Overrides MPID Act as Property Acquired Prior to Offence and Corporate Debtor Not Accused.

The petitioner, Dwarka Iron Industries Pvt. Ltd., as the Successful Resolution Applicant of the corporate debtor M/s. Abhirama Steels Limited, filed a...

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Bombay High Court Allows EPF Authority to Auction Defaulting Employer's Property Despite Bank's Secured Interest Under SARFAESI Act. Priority of EPF Dues Over Secured Creditors Under Section 11(2) of EPF Act Upheld.

The Central Board of Trustees, Employees Provident Fund (Petitioner) filed a writ petition seeking auction of the property of Respondent No.2 (the emp...

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Bombay High Court Allows Insolvent's Application to Set Aside Ex-Parte Adjudication Order in Insolvency Proceedings — Delay of 22 Days Condoned. The court held that the Insolvent had sufficient cause for non-appearance and that the ex-parte order was passed without proper service of notice.

The case involves an application by the Insolvent, Parmanand Sitlaprasad Pandey, seeking to set aside an ex-parte adjudication order passed in insolve...

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High Court of Karnataka Allows Appeal in Partnership Dispute — Sets Aside Appellate Decree for Non-Compliance with Order 41 Rule 31 CPC. Failure to Frame Points for Determination and Provide Independent Reasoning Renders Appellate Judgment Unsustainable.

The appellant (defendant) challenged the judgment of the II Additional Civil Judge (Sr. Dvn.) Hubballi in RA No.126/2004 dated 12.12.2006, which rever...

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Bombay High Court Dismisses Petition Challenging EPF Attachment Over SFC Sale Property. Section 11(2) of EPF Act, 1952 creates overriding first charge on assets, enforceable against purchaser in SFC sale, not limited to insolvency or winding up.

The petitioner, M/s. Indus Agro Products, was a purchaser in a sale conducted by the State Financial Corporation under the State Financial Corporation...

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Bombay High Court Allows Appeal and Annuls Insolvency Adjudication After Debtor Deposits All Creditor Claims. Debtor's Compliance with Court Order to Pay All Claims Justified Annulment Under Section 35 of Presidency Towns Insolvency Act, 1909.

The appeal arose from an order dated December 3, 1996, by which the Insolvency Court adjudicated the appellant, Mulji Harshi Shah, as insolvent. The a...

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NCLAT Upholds Admission of CIRP Against Corporate Debtor Under Section 7 of IBC, 2016 — Asset Reconstruction Company Held to be Financial Creditor and Application Not Barred by Limitation.

The appeal was filed by the suspended director of M/s. Sri Pavana Keerthi Hotels India Private Limited (Corporate Debtor) against the order of the Nat...