Search Results for "asset reconstruction"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
Bombay High Court Dismisses NHAI Appeals in Land Acquisition Compensation Disput...
Bombay High Court Dismisses Writ Petition Challenging Concurrent Findings in Sui...
Bombay High Court at Goa Dismisses Review Petition in Partition Suit Impleadment...
Bombay High Court Acquits Accused in Corruption Case Due to Unreliable Trap Witn...

Search Results for "asset reconstruction"

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High Court

Bombay High Court Dismisses Ex-Promoters' Gratuity Claims, Holds Directors in Control Not 'Employees' Under Payment of Gratuity Act. Founders who were in absolute control of company affairs cannot claim gratuity as employees despite drawing salary, as they fall outside the definition of 'employee' under Section 2(e) of the Payment of Gratuity Act, 1972.

20 Aug 2024

The petitioners, Anil Govind Ganu and Ashwini Anil Ganu, were the founders and directors of Innovative Technomics Pvt. Ltd. They claimed gratuity for ...

High Court

Bombay High Court Dismisses Petitions Challenging SARFAESI Act Applicability to Cooperative Banks and Arbitration Awards. Multi-State Cooperative Bank held to be a 'bank' under SARFAESI Act, and arbitration under Multi-State Cooperative Societies Act does not bar subsequent SARFAESI proceedings.

11 Jan 2024

The judgment concerns three writ petitions filed by borrowers challenging actions taken by Abhyudaya Co-operative Bank Ltd. and Piramal Capital and Ho...

Tribunals

NCLAT Dismisses Appeal Against CIRP Initiation by Assignee of Debt — Assignment Deed Valid Without Prior Notice to Corporate Debtor Under Section 5(7) of IBC, 2016. The NCLAT held that an assignee of a debt is a financial creditor under Section 5(7) of IBC, 2016, and notice of assignment to the corporate debtor is not required for maintainability of a Section 7 application.

1 Jan 2023

The case involves an appeal by Rajesh Ravji Patel, suspended director of Vilsons Roofing Product Pvt. Ltd. (Corporate Debtor), against an order of the...

High Court

Supreme Court Upholds Financial Creditor in Insolvency Petition Based on Balance Sheet Acknowledgement Under Limitation Act. The Court held that entries in signed balance sheets constitute acknowledgement of debt under Section 18 of the Limitation Act, 1963, extending the limitation period for applications under Section 7 of the Insolvency and Bankruptcy Code, 2016, and that defects in the application regarding the date of default are curable.

15 Apr 2021

The dispute arose from an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Asset Reconstruction Company (India) ...

Supreme Court

Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that AGR dues are final and no fresh disputes can be raised, and directed examination of whether insolvency proceedings under IBC are a subterfuge.

20 Jul 2020

The Supreme Court was hearing applications in the ongoing AGR dues matter, where the Union of India sought extension of time for payment. The Court ha...

High Court

Bombay High Court Allows Criminal Writ Petition Challenging Sessions Court's Dismissal of Revision Application on Jurisdictional Grounds — Held That Revision Application Cannot Be Dismissed in Limine on Point of Jurisdiction Without Hearing on Merits.

31 Jul 2019

The petitioners filed a Criminal Writ Petition before the Bombay High Court challenging an order dated 11.7.2019 passed by the Additional Sessions Jud...

High Court

High Court Dismisses Bank's Revision in SARFAESI Act Suit — Civil Court Jurisdiction Not Barred. Suit for Declaration and Injunction Regarding Personal Guarantee Held Maintainable as It Does Not Relate to Enforcement of Security Interest Under Section 34 of SARFAESI Act.

20 Jul 2017

The case involves a civil revision application filed by Allahabad Bank against an order of the Joint Civil Judge, Junior Division, Nagpur, rejecting t...

High Court

Bombay High Court Allows Summary Judgment in Favor of Asset Managers in Commercial Paper Recovery Suit Despite Pending SICA Appeal. The court held that Section 22 of SICA does not bar recovery suits where BIFR has declined registration, and the defendant failed to raise any triable issue.

5 Feb 2016

The plaintiffs, Pramerica Asset Managers Pvt. Ltd. and others, filed two summary suits against Deccan Chronicle Holdings Ltd. for recovery of Rs. 25 c...

High Court

High Court of Karnataka Allows Appeal Against Rejection of Plaint in SARFAESI Act Suit — Limitation Period for Challenge to Auction Sale Under Article 137 of Limitation Act Is Three Years from Date of Sale Confirmation

4 Dec 2013

The appellant, R Venkatapathy, filed a suit (O.S. No. 8639/2006) before the City Civil Court, Bangalore, challenging the auction sale of property cond...

High Court

Bombay High Court Allows Writ Petition by Bank Challenging Revenue Recovery Certificate for Land Revenue. Secured Creditor's Mortgage Prevails Over State's Claim for Arrears of Land Revenue Under Maharashtra Land Revenue Code, 1966.

5 Jul 2010

The petitioner, Union Bank of India, a body corporate under the Banking Companies (Acquisition & Transfer of Undertakings) Act V of 1970, filed a writ...

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