Search Results for "Demand draft"

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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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Bombay High Court Dismisses Criminal Writ Petition as Infructuous After Petitioner's Release and Resolution of Demand Draft Issue. Petition filed under misconception that demand drafts were not sent as directed, but drafts were cancelled and amount credited to petitioner's account.

The petitioner, Mahesh Sharma, was a convicted prisoner who filed a Criminal Writ Petition under a misconception that two Demand Drafts of Rs.10,000 a...

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NCLAT Dismisses Appeal Against Assignment of Debt by Government Authority in CIRP. Assignment of operational debt by a government authority to a private entity is valid under the IBC, and the assignee becomes an operational creditor with voting rights in the CoC.

The appeal was filed by Ellison Oil Field Services Pvt. Ltd. against an order of the NCLT, Mumbai Bench 1 dated 21.08.2024, which dismissed an applica...

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High Court of Karnataka Acquits Accused in Cheque Bounce Case Due to Failure to Prove Legally Enforceable Debt. Complainant's Evidence Insufficient to Establish Debt Under Section 138 of Negotiable Instruments Act, 1881.

The case involves a criminal revision petition filed by the accused, Chikkachowdappa, against his conviction under Section 138 of the Negotiable Instr...

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Supreme Court Dismisses Corporate Debtor's Appeal Against NCLT Order Admitting Insolvency Application Under Insolvency and Bankruptcy Code, 2016. Maharashtra Act Moratorium Does Not Bar Insolvency Proceedings as Section 238 of the Code Overrides Inconsistent State Laws.

The appeal arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The corporate debtor, a multi-product compan...