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Supreme Court Allows Appeal of SBI Consortium in Corporate Guarantee Dispute Under IBC. Corporate Guarantees Executed by Corporate Debtor Constitute Financial Debt Under Section 5(8) of IBC, 2016, and Are Enforceable Despite Timing and Stamping Objections.

The Supreme Court allowed the appeal filed by the Appellant Consortium against the order of the National Company Law Appellate Tribunal (NCLAT) which ...

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High Court of Karnataka Dismisses Appeal in Specific Performance Suit — Plaintiff Failed to Prove Readiness and Willingness. Agreement to Sell Not Proved as Genuine and Enforceable Due to Lack of Credible Evidence and Discrepancies in Pleadings.

The appellant, Harish, filed a suit for specific performance of an agreement to sell dated 05.12.2008 allegedly executed by the respondents in his fav...

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Bombay High Court at Goa Quashes Lokayukta Investigation in Tourism Contract Case for Lack of Jurisdiction. Lokayukta Cannot Investigate Matters Already Decided by Competent Authority Under Section 12 of the Goa Lokayukta Act, 2011.

The case involves three writ petitions filed by Bhumika Cleantech Services Pvt. Ltd., Manish R. Mohata, and Ram Cleansers & Developers Pvt. Ltd. chall...

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High Court of Karnataka Dismisses Challenge to Section 164(2)(a) of Companies Act, 2013 and Press Note Dated 6.9.2017 — Directors of Private Limited Companies Cannot Be Exempted from Disqualification for Non-Filing of Financial Statements.

The petitioners, Mr. Yenugu Krishna Murthy, Mr. Devarunda Manjegowda Purnesh, and Mr. Manjunath Krishnarajanagar Manikyam, filed three writ petitions ...

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High Court of Karnataka Dismisses Challenge to Section 164(2)(a) of Companies Act, 2013 and Press Note Dated 6.9.2017 — Directors of Private Limited Companies Cannot Be Exempted from Disqualification for Non-Filing of Financial Statements.

The petitioners, Mr. Yenugu Krishna Murthy, Mr. Devarunda Manjegowda Purnesh, and Mr. Manjunath Krishnarajanagar Manikyam, filed three writ petitions ...