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Supreme Court Allows CBI Appeal in Corruption Case, Directs Payment of Balance Fine or Custody for Default Sentence. Fine is a Sentence Under Section 53 IPC and Can Be Suspended Under Section 389 CrPC, But High Court's Order Did Not Suspend Fine or Default Sentence.

The case involves an appeal by the Central Bureau of Investigation (CBI) against an order of the Delhi High Court suspending the sentence of the respo...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Bombay High Court Allows Appeal in Bond Trustee Case — Appoints Receiver and Grants Injunction Against Alienation of Assets. Trustee entitled to protect bondholders' interests where corporate debtor defaulted on convertible bonds and attempted to transfer business to related parties.

The Bank of New York Mellon, as trustee for bondholders, filed a suit against Zenith Infotech Ltd. and others after Zenith defaulted on repayment of U...

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Bombay High Court Quashes Preventive Proceedings in Water Tap Dispute — No Breach of Peace Found. Proceedings under Sections 107, 116(3), 151 CrPC initiated based on trivial quarrel without material showing likelihood of breach of peace or public tranquility.

The petitioners, Sau. Shilpa Aade, Ashwin Aade, and Manish Potpose, filed a criminal writ petition before the Bombay High Court at Nagpur seeking quas...