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Supreme Court Dismisses Appeals Against Insolvency Initiation Under Insolvency and Bankruptcy Code, 2016 -- NCLAT Order Upheld in Favor of Allottees as Financial Creditors -- Corporate Debtors Failed to Deliver Possession and Complete Formalities

The Supreme Court dismissed civil appeals filed by erstwhile directors of corporate debtors against the NCLAT judgment which upheld the NCLT order ini...

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NCLAT Dismisses Appeal of Former Director in Fraudulent Trading Case Under Section 66 IBC. The Tribunal upheld the finding that the appellant siphoned funds and engaged in wrongful trading during liquidation of Easytech Global Private Limited.

The present appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by Mr. Gopal Kalra, the erstwhile director of M/s Easy...

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Supreme Court Allows Appeal Against DDA's Demand for Unearned Increase in Amalgamation Case. Amalgamation of Companies Under Court Order Does Not Amount to 'Transfer' Under Lease Deed Clause II(4)(a).

The appellant, M/s. Jaiprakash Industries Ltd. (now M/s. Jaiprakash Associates Ltd.), was the transferee company resulting from the amalgamation of M/...

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Bombay High Court Quashes Process Against Directors in Food Safety Act Case — Lack of Vicarious Liability. Directors cannot be held liable under the Food Safety and Standards Act, 2006 without specific averments of their role in the offence.

The petitioners, including a company and its erstwhile directors, challenged an order of the Additional Sessions Judge, Sangli, which dismissed their ...

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Bombay High Court Allows Appointment of Arbitrator in MOU Dispute Between Developer and Public Trust. Arbitration Clause in MOU dated 16 June 2011 Held Valid and Binding Despite Non-Formation of Special Purpose Entity.

The petitioner, M/s. Devike Constructions and Developers Pvt. Ltd., filed a petition under Section 11 of the Arbitration and Conciliation Act, 1996, s...

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Supreme Court Upholds Single Judge's Decision on CCC Certificate Requirement for Technician Grade-II Recruitment. Court holds that only CCC certificates issued or recognized by DOEACC/NIELIT are valid, and equivalence cannot be determined by the Commission without statutory backing.

The Supreme Court considered three appeals against a Division Bench judgment of the Allahabad High Court that had set aside a Single Judge's order reg...

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Karnataka High Court Allows Writ Petition by Third Party Against Execution of Money Decree by Arrest of Director of Judgment-Debtor Company. Principle of Separate Legal Entity of Company Prevents Execution Against Directors Unless Personal Liability Established Under Order 21 Rule 37 CPC.

The petitioner, Shashikanth Govindalal Mandanna, who was not a party to the original suit, filed a writ petition under Article 227 of the Constitution...