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NCLAT Partially Allows Appeal Against Bankruptcy Declaration, Holds SEBI Penalty as Excluded Debt Under IBC. Personal Guarantor's Bankruptcy Petition Admitted but SEBI Penalty Excluded from Discharge as 'Fine' Under Section 79(15)(a) of IBC.

The appellant, Ms. G.V. Marry, was a personal guarantor to BRG Energy Ltd., a company incorporated in 2006 under the Companies Act, 1956. She filed an...

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NCLAT Allows Appeal Against Rejection of Claim by RP in CIRP of Sovereign Industries Ltd. — Claimant's Right to File Claim Before Adjudicating Authority Not Barred by Limitation Under IBC. The NCLAT held that acknowledgment of debt in balance sheets extends limitation and the RP's rejection was erroneous.

The case involves an appeal by Mr. Bhagawant Narayan Naik against the rejection of his claim by the Resolution Professional (RP) of Sovereign Industri...

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NCLAT Dismisses Appeals Challenging Admission of Section 7 Application by Allottees Against Corporate Debtor. The Tribunal upheld the NCLT order allowing impleadment of allottees and admitting the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, as default was established.

The judgment pertains to two appeals filed against an order dated 04.03.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Principal B...

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Gujarat High Court Allows Appeal in Land Acquisition Compensation Case Following Division Bench Precedent. Purchaser of Acquired Land Entitled to Enhanced Compensation at Rate Determined in Similar Matters Under Section 54 of Land Acquisition Act, 1894.

The appellant, Hasmukhlal Amrutlal Kalubhai Premjibhai Padhra, filed a first appeal under Section 54 read with Section 96 of the Code of Civil Procedu...

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High Court Dismisses Second Appeal in Civil Land Dispute Due to Absence of Substantial Question of Law. Appellate Court's Factual Findings on Possession and Evidence Appreciation Upheld as Not Perverse Under Section 100 of Code of Civil Procedure, 1908.

The dispute concerned agricultural land in Survey No.517 at village Chitroda, where the appellants (original plaintiffs) sought permanent injunction a...

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High Court Quashes Income Tax Reassessment Notice Under Section 148 Due to Lack of Tangible Material. Reassessment Based on Seized Documents from Unrelated Entities Declared Invalid

The High Court of Gujarat allowed the writ petitions challenging reassessment notices under Section 148 of Income Tax Act, 1961. The petitioner, an in...

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High Court Quashes Show Cause Notices in Tenancy Case Due to 33-Year Delay and Land Conversion -- Proceedings Under Bombay Tenancy Act Barred When Land Converted to Non-Agricultural Use

The petitioners challenged show cause notices issued under Section 84C of the Bombay Tenancy and Agricultural Land Act, 1948 regarding land transactio...

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High Court Dismisses State's Petition Against SSRD Orders in Land Regularization Case. SSRD's Directions for Regularization Based on Auction Price Upheld as Within Jurisdiction Under Rule 108(6) of Gujarat Land Revenue Rules, 1972.

The dispute originated from the allotment of government land in 1967 to M/s. Nav Bharat Potteries Ltd. for a pottery industry at a concessional rate, ...