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Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

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Supreme Court Allows Appellant in SEBI PFUTP Regulations Case Due to Non-Disclosure of Investigation Report. The Court Held That the Investigation Report Under Regulation 9 Must Be Disclosed to Ensure a Fair Hearing Under Principles of Natural Justice, as It Forms the Basis for the Show Cause Notice.

The dispute arose from a show cause notice issued by SEBI to the appellant, alleging violations of the SEBI (Prohibition of Fraudulent and Unfair Trad...

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Supreme Court Allows Appeals in Specific Performance Case — Agreement to Sell Void Under Section 61 of Karnataka Land Reforms Act, 1961. Agreement executed during non-alienation period is void ab initio and not enforceable even after the restriction period ends.

The Supreme Court allowed the appeals filed by the defendants (appellants) against the judgment of the Karnataka High Court which had upheld the decre...

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Bombay High Court Allows Petition Quashing Reservation Condition in Development Permission Dispute. MHADA Housing Reservation Deleted by Sanctioned Modification to Development Plan, Municipal Corporation Cannot Insist on Compliance.

The petitioner, Cosmos Constructions, a partnership firm, owned land at Chitalsar, Manpada, Thane. The Thane Municipal Corporation (TMC) imposed Condi...