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Supreme Court Allows IDBI Bank's Appeal in Winding Up Case — Revival of Winding Up Proceedings Set Aside and Sale Deed Directed to Be Executed. Agreement to Sell Not Fraudulent Preference Under Section 531 of Companies Act, 1956 as Executed Beyond Six-Month Period and Bona Fide.

The Supreme Court considered two appeals by IDBI Bank (erstwhile United Western Bank) against judgments of the Madras High Court relating to the windi...

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Bombay High Court Allows Possession Claim by Lessee in Company Liquidation — Official Liquidator Directed to Hand Over Property Subject to Lease. Leasehold Rights Survive Winding Up and Official Liquidator Must Respect Lessee's Right to Possession Under Section 456 of Companies Act, 1956.

The Provident Investment Company Ltd., a Government of Madhya Pradesh undertaking, filed an application seeking possession of leasehold land admeasuri...

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High Court of Karnataka Acquits Accused in Cheque Bounce Case Due to Time-Barred Debt. Section 138 Negotiable Instruments Act, 1881 - Dishonour of Cheque - Presumption under Section 139 rebutted by accused showing loan was time-barred, hence not legally enforceable.

The present revision petition was filed by the accused (petitioner) challenging her conviction under Section 138 of the Negotiable Instruments Act, 18...