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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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Bombay High Court Dismisses Appeals Against Winding Up Order for Non-Payment of Debts Under Companies Act, 1956. Debt Acknowledged in Balance Sheets and Not Disputed, Constituting Admission of Liability Under Section 433(e) and 434 of Companies Act, 1956.

The judgment arises from four appeals filed by M/s. RojeeTasha Stampings Private Ltd., M/s. Automotive Metal Stampings Pvt. Ltd., M/s. Ganage Pressing...

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Bombay High Court Dismisses Defamation Suit Against Advocate for Sending Complaint to Cooperative Registrar. Communication to Registrar Held Not 'Publication' as It Lacked Intent to Harm Reputation and Was Privileged Under Exception 9 to Section 499 IPC.

The plaintiffs, members of a cooperative housing society, filed a defamation suit against Defendant No.1 (a fellow member) and Defendant No.2 (her adv...

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High Court of Karnataka Quashes Industrial Tribunal Award Directing Regularization of 24 Workmen in National Aerospace Laboratories — Workmen Held Not Entitled to Regularization as They Were Employed by Contractor, Not Principal Employer.

The petitioner, Management of National Aerospace Laboratories (NAL), challenged the award dated 30-12-2005 of the Industrial Tribunal, Bengaluru in I....

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Bombay High Court Grants Interim Injunction Restraining Bank from Enforcing Guarantee and Pledge Against Company Pending Company Law Board Proceedings. Alleged Fraudulent Assumption of Liability by Directors Without Shareholder Consent Raises Serious Questions to be Tried.

The applicant, Rajinder Kumar Malhotra, filed an application in a pending company appeal seeking an interim injunction to restrain HDFC Bank from reco...