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Bombay High Court Allows Winding Up Petition Against Varun Global Limited for Non-Payment of Loan Debt. Life Insurance Corporation of India Succeeds in Proving Company's Inability to Pay Debts Under Sections 433(e) and 434 of the Companies Act, 1956.

The petitioner, Life Insurance Corporation of India (LIC), filed a company petition under Sections 433(e) and 434 of the Companies Act, 1956, seeking ...

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Bombay High Court Grants Summary Judgment for Recovery of Goods Sold and Delivered in Commercial Dispute. Defendant's Failure to File Affidavit in Reply and Admission of Liability Leads to Decree Under Order XXXVII CPC.

The plaintiff, Dongreen Resins & Chemicals Private Limited, filed a summary suit under Order XXXVII of the Code of Civil Procedure, 1908 against the d...

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NCLAT Allows Appeal Against Admission of CIRP Due to Discharge of Debt Through One-Time Settlement. Financial Debt Found to Be Fully Satisfied Prior to Filing of Section 7 Application Under Insolvency and Bankruptcy Code, 2016.

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Puneet Resutra, the erstwhile Director and Shar...

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Supreme Court Hears Civil Appeals Concerning Applicability of Interest on Delayed Payments Act to Prior Contracts. The appeals arise from a common question of law regarding the retrospective application of the Interest on Delayed Payment to Small Scale and Ancillary Industrial Undertakings Act, 1993.

The appeals before the Supreme Court arose from a common question of law regarding the applicability of the Interest on Delayed Payment to Small Scale...

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Division Bench of Karnataka High Court Upholds Bank's Appeal, Reinstates Section 14 Order Under SARFAESI Act. Writ Petition Challenging Magistrate's Order Dismissed on Ground of Availability of Efficacious Alternate Remedy Under Section 17 of SARFAESI Act, 2002.

The appeal arose from a writ petition filed by respondent-borrowers challenging an order dated 13.03.2020 passed by the Chief Judicial Magistrate unde...

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Bombay High Court Allows Summons for Judgment in Summary Suit Due to Admission of Liability and Lack of Substantial Defence. Subsequent Sale of Abandoned Tonners by Creditor Deducted from Claim, and Delay in Filing Summons for Judgment Condoned.

The dispute arose from a commercial transaction where Tata Chemicals Ltd., a manufacturer of inorganic chemicals, supplied liquid chlorine and caustic...