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Bombay High Court Dismisses Decree Holder's Application to Implead Auction Purchaser in Execution Proceedings — Order VI Rule 17 CPC Application Rejected as Execution is Not a 'Trial' and Amendment Would Change Nature of Suit

The petitioner, Sangli Zilla Parishad Employees Co-operative Credit Society Limited, had advanced a loan to respondent no.1, Ninaidevi Sahakari Sakhar...

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Supreme Court Upholds High Court's Decision on Auction Sale: Statutory Violations Render Sale Null and Void. Despite recognizing significant procedural breaches, the Supreme Court offers the appellant a chance to retain the industrial property by settling liabilities.

The legality of an auction sale conducted by the Tahsildar and confirmed by the Additional Collector, which was later contested on the grounds of stat...

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High Court of Judicature at Bombay Interprets Conditions for Debtor's Insolvency Petition Under Presidency Towns Insolvency Act, 1909. Court Clarifies That Allegation of Inability to Pay Debts is Sufficient While Entitlement to Present Petition Must Be Proved Under Section 14.

The judgment dealt with two debtors' insolvency petitions filed by a father and son duo under the Presidency Towns Insolvency Act, 1909 (PTI Act). The...

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Supreme Court Upholds NCLAT Decision on Mandatory 75% Voting Share for Resolution Plan Approval Under I&B Code. Financial Creditors' Rejection of Resolution Plan for Kamineni Steel & Power India Pvt. Ltd. and Innoventive Industries Ltd. Leads to Liquidation as Plan Did Not Garner Required Majority.

The Supreme Court of India heard appeals arising from a common judgment of the National Company Law Appellate Tribunal (NCLAT) dated 6 September 2018,...

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Bombay High Court Allows Bank to Participate in Auction of Attached Sugar Stock in Workers' Dues Recovery Case. The court held that the direction to recover under MLR Code was beyond Section 33C(1) of Industrial Disputes Act, 1947, but permitted the bank to participate in auction of attached sugar.

The Maharashtra State Cooperative Bank Ltd. (petitioner) had advanced loans to Yashwant Sahakari Sakhar Karkhana (respondent No.4), a sugar factory, a...