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Supreme Court Allows Appeal in IBC Case: CIRP Not a Substitute for Execution of Civil Court Decree. Insolvency and Bankruptcy Code, 2016 — Section 7 — Financial Debt — Decree Holder Cannot Bypass Execution Process.

The Supreme Court allowed the appeal filed by Appellants against the order of the NCLAT which had directed admission of a Section 7 petition under the...

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Supreme Court Dismisses Third-Party Claim in Execution Proceedings -- Appellant Fails to Remove Property Attachment for Arbitral Award Recovery -- Mother of Company Director Cannot Defeat Creditor's Rights as Post-Award Purchaser

The Supreme Court upheld the attachment of property in execution of an arbitral award, rejecting the third-party claim by Appellant who had purchased ...

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Bombay High Court Allows EPF Authority to Auction Defaulting Employer's Property Despite Bank's Secured Interest Under SARFAESI Act. Priority of EPF Dues Over Secured Creditors Under Section 11(2) of EPF Act Upheld.

The Central Board of Trustees, Employees Provident Fund (Petitioner) filed a writ petition seeking auction of the property of Respondent No.2 (the emp...

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NCLAT Allows Appeal Against Exclusion of Personal Guarantors from CoC in CIRP of Corporate Debtor — Re-constitution of Committee of Creditors Set Aside. Personal Guarantors Are Not Members of Committee of Creditors Under Section 21(2) of Insolvency and Bankruptcy Code, 2016.

The National Company Law Appellate Tribunal (NCLAT) heard an appeal against an order of the Adjudicating Authority (NCLT, Chandigarh Bench) dated 01.0...

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Karnataka High Court Grants Anticipatory Bail to Accused in Chit Business Dispute Involving Rape and Cheating Allegations — Court Finds Prima Facie Case of Consensual Relationship and Civil Dispute

The petitioners, accused Nos.2 to 4, filed a criminal petition under Section 438 of the Code of Criminal Procedure, 1973 (Cr.P.C.) seeking anticipator...

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Bombay High Court Grants Bail to Accused in MCOC Act Kidnapping and Extortion Case — Prima Facie Case Not Made Out Under Section 3 of MCOC Act. Single Incident of Kidnapping Does Not Constitute Continuing Unlawful Activity by an Organised Crime Syndicate Under Section 2(1)(d) and (e) of MCOC Act.

The judgment pertains to two bail applications filed by Raju Bhadre and Rahul Dubey, who were arrested in connection with Crime No. 468/2015 registere...

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High Court of Bombay Upholds Reinstatement of Bank Employee in Disciplinary Matter — Full Back Wages Awarded for Flawed Inquiry. Syndicate Bank's Dismissal of Clerk for Alleged Misconduct Set Aside as Inquiry Was Vitiated by Bias and Non-Supply of Documents.

The petitioner, Syndicate Bank, a nationalised bank, challenged the Part-I Award dated 28.5.2003 and Part-II Award dated 7.9.2010 passed by the Centra...