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Bombay High Court Admits Winding Up Petition Against Syrma Technology Pvt. Ltd. for Non-Payment of Admitted Debt Despite Insurance Payment. Court holds that receipt of insurance proceeds does not extinguish the debt or bar winding up proceedings under the Companies Act, 1956.

The petitioner, Jiangsu Skyrun Wuxi Co. Ltd., filed a company petition under Section 433(e) of the Companies Act, 1956 seeking winding up of Syrma Tec...

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Bombay High Court Allows Petitions Challenging Unilateral Modification of Development Control Regulations by State. Held that DCRs are statutory and cannot be altered without following due process under the Maharashtra Regional and Town Planning Act, 1966.

The judgment concerns two writ petitions filed by D B Realty Limited and Salim Balwa (WP No.366 of 2014) and Savita Homemakers LLP and Akkshay Jain (W...

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Bombay High Court Allows Supplier in Arbitration Petition as MSEFC Fails to Act on Payment Claim; Section 18 of MSMED Act Creates Statutory Arbitration Agreement Justifying Section 11 Petition.

The dispute involved a supplier who had executed a purchase order dated June 8, 2018, and supplied goods to the respondent buyer. Invoices were raised...

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Supreme Court Dismisses Appeals by Liquidators Challenging Benami Act Attachment Orders, Upholds NCLAT Ruling that IBC Authorities Lack Jurisdiction to Entertain Challenges to Benami Act Orders During Insolvency Proceedings

The Supreme Court dismissed a batch of civil appeals filed by liquidators challenging provisional attachment orders issued under the Prohibition of Be...

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Supreme Court Dismisses Appeal in Insolvency Case Over Creditor Status and Resolution Plan Approval. Statutory Authority's Claim as Financial or Secured Creditor Rejected Due to Lack of Diligent Action During Corporate Insolvency Resolution Process Under Insolvency and Bankruptcy Code, 2016.

The dispute arose from the Corporate Insolvency Resolution Process (CIRP) of M/s. JNC Construction (P) Ltd, the Corporate Debtor. The appellant, a sta...

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Bombay High Court Dismisses Writ Petition Challenging Auction Sale of Mortgaged Property Under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 — No Ground to Set Aside Sale After Certificate Issued and No Appeal Filed.

The petitioners, Si2 Microsystems Pvt. Ltd. and its director Sanjay Vedaprakash Soni, availed a cash credit facility of Rs. 10 crores and a term loan ...

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NCLAT Dismisses Shareholder's Appeal Against Admission of CIRP for Corporate Debtor Under Section 9 IBC. Pre-Existing Dispute Not Established as Dispute Raised After Demand Notice and Lacking Evidence.

The present appeal was filed by Surendra Sancheti, a shareholder of Altius Digital Private Limited (Corporate Debtor), under Section 61 of the Insolve...