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NCLAT Dismisses Appeal of BEST Undertaking Against Liquidator's Rejection of Interest Claim and Secured Creditor Status in Liquidation of Spark Green Energy. Interest-Free Deposit Does Not Attract Interest, and Unregistered Charge Does Not Confer Secured Status Under IBC.

The appeal was filed by Brihanmumbai Electricity Supply and Transport Undertaking (BEST) against an order of the Adjudicating Authority (NCLT Mumbai B...

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NCLAT Dismisses Appeal Against Rejection of Section 9 Petition Due to Pre-Existing Dispute and Section 10A Bar. Operational Creditor's Claim Time-Barred and Default Occurred During Prohibited Period Under IBC.

The appeal was filed by Royal Construction (Operational Creditor) against the order of the National Company Law Tribunal, Mumbai Bench, which dismisse...

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NCLAT Allows Appeal Against Exclusion of Personal Guarantors from CoC in CIRP of Corporate Debtor — Re-constitution of Committee of Creditors Set Aside. Personal Guarantors Are Not Members of Committee of Creditors Under Section 21(2) of Insolvency and Bankruptcy Code, 2016.

The National Company Law Appellate Tribunal (NCLAT) heard an appeal against an order of the Adjudicating Authority (NCLT, Chandigarh Bench) dated 01.0...

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High Court of Karnataka Allows Appeal in Negotiable Instruments Act Case — Reverses Acquittal for Dishonour of Cheque. Presumption under Section 139 of NI Act stands unless rebutted by accused; accused failed to rebut presumption of legally enforceable debt.

The appeal was filed by the complainant (appellant) against the judgment of acquittal passed by the Judicial Magistrate First Class, Banhatti, in C.C....

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High Court of Karnataka Allows Writ Petition Against DRAT Order in SARFAESI Act Case — Appeal Under Section 18 Held Maintainable Despite Availability of Civil Suit. Statutory Remedy Under SARFAESI Act Cannot Be Ousted by Alternative Remedy of Civil Suit.

The petitioner, Trishul Developers, a partnership firm, had availed a loan from L & T Housing Finance Limited (respondent No.1). Upon default, the res...

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Supreme Court Acquits Accused in POCSO Case Due to Inconsistent Testimony and Lack of Medical Corroboration. Conviction under Section 4 of POCSO Act and Section 376 IPC Set Aside as Prosecution Failed to Prove Case Beyond Reasonable Doubt.

The case involves an appeal against the conviction of Dr. Ramesh under Section 4 of the Protection of Children from Sexual Offences Act, 2012 and Sect...

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Bombay High Court Dismisses Appeal Against Section 9 Interim Relief in Foreign Award Enforcement. Court Confirms Injunction Restraining Alienation of Helicopter Pending Enforcement of Singapore Award Under Part II of Arbitration Act, 1996.

The respondent, Aircon Feibars FZE, obtained a foreign award in Singapore on 25 January 2017 for approximately US$7 million (Rs.46 Crores) against the...