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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 Allows Appeal in Part in Foreign Currency Arbitral Award Enforcement Case. Twin Principles Laid Down: Date of Enforceability for General Conversion, Date of Deposit for Amounts Deposited in Court.

The Supreme Court addressed the issue of the correct date for converting a foreign currency arbitral award into Indian rupees for enforcement. The app...

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Supreme Court Dismisses Appeals in Partition Suit, Upholding High Court's Decree on Property Shares and Invalidating Compromise. Legal Heirs' Dispute Over Ancestral and Self-Acquired Properties Resolved with Shares Determined Under Hindu Law, and Compromise Set Aside Under Code of Civil Procedure, 1908.

The litigation originated from a partition suit filed by Charulata Sahoo (plaintiff) against her brother Prafulla Sahoo (defendant No. 1) and sister S...

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High Court of Karnataka Allows Second Appeal in Partition Suit — Reopening of Partition Permitted Due to Non-Inclusion of Joint Family Property. The Court held that a prior partition decree not binding on the plaintiff as she was not a party and the property was joint family property.

The appellant, Monakka Shinde, filed a suit (O.S. 370/2004) for reopening of partition, declaration, and injunction against her sons, Maruti Shinde an...

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Bombay High Court Dismisses Workman's Petition Challenging Industrial Court's Order Dismissing Complaint for Non-Implementation of Award. Delay of 4½ years in filing complaint under MRTU & PULP Act, 1971 held fatal as no sufficient cause shown.

The petitioner, Kashinath Parvati Labade, was a workman employed with the Department of Social Forestry, Maharashtra. He was allegedly illegally termi...

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Bombay High Court Dismisses Petition Challenging SEBI Consent Guidelines Requiring Pendency of Proceedings. Requirement of pendency of court proceedings or adjudication for consent applications under SEBI Guidelines is not arbitrary and does not violate Article 14 of the Constitution.

The petitioners, Shilpa Stock Broker Pvt. Ltd. and another, filed a writ petition under Article 226 of the Constitution challenging the validity of cl...