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Bombay High Court Dismisses Winding Up Petition Against Hubtown Ltd. Based on Bona Fide Dispute of Debt. Corporate Guarantee Enforcement Requires Prima Facie Case of Default and Absence of Substantial Dispute Under Section 433(e) of Companies Act, 1956.

The petitioner, IDBI Trusteeship Services Ltd., filed a company petition under Section 433(e) of the Companies Act, 1956 seeking winding up of Hubtown...

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Bombay High Court Discharges Court Receiver in Property Dispute, Directs Parties to Pursue Claims Before DRT. Court holds that once a suit is transferred to DRT, the Court Receiver's role ceases and parties must seek remedies before the Tribunal.

This judgment concerns an application filed by the Court Receiver seeking discharge without passing accounts, subject to payment of costs, charges and...

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Bombay High Court Allows Writ Petition Challenging Denial of Promotion to Branch Manager in Shabari Tribal Financial Development Corporation Ltd. — Held that Petitioner's Candidature for Promotion to Class-I Post Must Be Considered as Per Recruitment Rules.

The petitioner, Shridhar Sambhaji Dhale, possessed a Master's degree in Commerce and joined as Junior Assistant in 1979 with the Maharashtra State Co-...

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Presidential Reference Made to Supreme Court Seeks Advisory Opinion on Telecom Licences and Spectrum Allocation Policies. Reference Under Article 143(1) Recites Historical Grant of Licences from 1994 to 2008 Including First-Come-First-Served and Revenue Share Regimes.

Background: The President of India made a reference under Article 143(1) of the Constitution on 12.04.2012, seeking the advisory opinion of the Suprem...

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High Court Dismisses Appeal Against Winding-Up Order in Bond Default Case; Upholds Adverse Remarks Against Directors for Fund Diversion. Company Found Unable to Pay Debts and Substratum Lost, Justifying Winding Up Under Sections 433(e) and 433(f) of Companies Act, 1956.

The appeal arose from a winding-up order passed by the learned company Judge against Zenith Infotech Limited (the appellant) in a petition filed by Th...