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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 Quashes Wilful Defaulter Declaration Against Directors Due to Violation of Natural Justice. Show-Cause Notice Not Served to Directors Individually, Only to Company, Rendering WDIC and Review Committee Orders Unsustainable.

The petitioners, who are directors of M/s. Universal Industrial Equipments and Technical Services Pvt. Ltd., challenged orders dated 07.12.2020 and 26...

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Bombay High Court Quashes Complaint Against Directors in Cheque Dishonour Case for Lack of Specific Allegations. Vicarious Liability Under Section 141 of Negotiable Instruments Act Requires Specific Averments of Role in Company Affairs.

The case involves a criminal complaint filed by respondent No. 1 (complainant) under Section 138 read with Section 141 of the Negotiable Instruments A...

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Bombay High Court Dismisses Petition to Set Aside Arbitral Award in Construction Dispute — No Grounds for Interference Under Section 34 of Arbitration and Conciliation Act, 1996. Court held that the arbitral tribunal's interpretation of contractual clauses was plausible and not patently illegal.

The petitioner, Maharashtra State Road Development Corporation Ltd., entered into a contract with the respondent, Jai Laxmi Constructions Engineers An...

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Bombay High Court Dismisses Petition Challenging Selection of Reader in Ayurvedic College — Selection Process Not Vitiated by Alleged Bias or Procedural Irregularities. Petitioner Failed to Prove Bias or Mala Fides in Selection Under Maharashtra Universities Act, 1994.

The petitioner, Dr. Rajeshkumar Prakashchandra Gupta, filed a writ petition under Articles 226 and 227 of the Constitution of India challenging the ju...