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Supreme Court Quashes NCLT Approval and NCLAT Judgment in Bhushan Power CIRP, Remands for Fresh Resolution Plan. Approved Plan Set Aside Due to Inordinate Delay, Illegal Extension Clause, Waterfall Violation, and Non-Compliance with IBC Provisions Including Sections 30, 31, and 53.

The Supreme Court adjudicated a batch of civil appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the approval of ...

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High Court of Karnataka Dismisses College's Appeals in Faculty Termination Case Under AICTE Regulations. Termination of Professors Due to Closure of Engineering Course Held Impermissible as AICTE Regulations Mandate Continuation Till Superannuation at Age 65, Regardless of Financial Viability.

The dispute involved Appellant challenging a Single Judge's order that prevented the termination of two professors, following the closure of the unaid...

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Bombay High Court Examines Closure Permission for Textile Mills Under Section 25-O of Industrial Disputes Act. The Court Stresses Need for Genuine and Adequate Grounds and Balances Industrial Needs with Worker Welfare, While Exercising Writ Jurisdiction Under Article 226 of the Constitution.

The dispute arose from the closure of two textile establishments, the Crown Mills Division and Process House Unit of Hindustan Spinning and Weaving Mi...

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Bombay High Court Sets Aside Discharge of Accused in Cheque Bounce Case Despite BIFR Proceedings. The court held that an order under Section 22 of SICA does not automatically bar criminal proceedings under Section 138 of the Negotiable Instruments Act, 1881.

The petitioner, Harshad Jayprasad Bakshi, filed a criminal writ petition challenging the order of the learned Metropolitan Magistrate, 12th Court, Mum...

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Bombay High Court Dismisses Challenge to Metro Fare Hike; Judicial Review Not Permitted Over Specialist Committee's Decision Under Metro Act. Fare Fixation Committee's Determination Based on Section 34 Prevails Over Contractual Fare Stipulations, Limited to Checking Arbitrariness or Perversity.

The writ petition challenged the Fare Fixation Committee's decision to increase Mumbai Metro fares from Rs.9-13 to Rs.10-110 from January 2015. The pe...

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NCLT Chennai Allows Dissolution of Company in Voluntary Liquidation Under Section 59(7) IBC, 2016. The Liquidator's petition for dissolution was allowed upon satisfaction of compliance with voluntary liquidation requirements.

The National Company Law Tribunal, Chennai Division Bench, allowed a petition filed by the Liquidator, Mrs. Aneetha Subramaniam, under Section 59(7) o...

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Supreme Court Upholds Transfer of Winding Up Petition to NCLT Despite Admission Order. Discretion Under Section 434(1)(c) Companies Act, 2013 Properly Exercised Where Liquidation Was at Initial Stage and No Irreversible Steps Taken.

The Supreme Court dismissed appeals by Action Ispat and Power Pvt. Ltd. against the Delhi High Court's order transferring a winding up petition to the...