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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

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National Company Law Appellate Tribunal Dismisses Appeals by Suspended Director Challenging Withdrawal of CIRP Application Under Section 12A of IBC -- Orders Permitting Withdrawal and Deletion of Suspended Management Upheld

The National Company Law Appellate Tribunal dismissed Appeals by Appellant, Suspended Director, against orders of the Adjudicating Authority related t...

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Bombay High Court Allows Appeal of Parents of Deceased MBA Student, Enhances Compensation from Rs. 2 Lakh to Rs. 23.38 Lakh in Motor Accident Claim. Notional Income of Rs. 15,000 Per Month Adopted with 40% Future Prospects and Multiplier of 18.

The appellants, parents of the deceased Sujeet Singh, filed a claim petition under Section 166 of the Motor Vehicles Act, 1988 seeking compensation of...

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Bombay High Court Dismisses Appeal by Mortgagee Bank in Admiralty Suit Regarding Priority of Claims Over Vessel Sale Proceeds. Court Has Power to Fix Time Limit for Filing Claims Against Sale Proceeds to Ensure Finality and Expeditious Distribution.

The appellant, Sparebanken Sogn Og Fjordane, a Norwegian bank, filed an admiralty suit against the vessel M.V. Bos Angler and its owners seeking enfor...

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Madras High Court Considers Appeal Against Order Setting Aside Arbitral Award in Berth Reservation Dispute. Court Examines Whether the Claim Was Barred by Limitation and Whether the Award Was Patently Illegal Under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996.

The judgment of the Madras High Court in OSA (CAD) No. 39 of 2021 involved an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, a...

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Bombay High Court Hears Admiralty Suit for Recovery of Value of Goods Lost Due to Non-Issuance of Bill of Lading. Claim Against Vessel Owner and Agent for Breach of Duty Under Carriage of Goods by Sea Act is Examined.

This admiralty suit was filed by the plaintiff, Geetanjali Woollen Pvt. Ltd., seeking recovery of US$ 57,860 with interest for the loss of export good...