Search Results for "Sale of Assets"

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Supreme Court Finds Reliance Companies Guilty of Contempt for Breach of Undertakings to Pay INR 550 Crore to Ericsson India Pvt. Ltd. The court held that the undertakings making payment conditional upon sale of assets were contrary to the court's order and constituted wilful disobedience.

The Supreme Court of India dealt with three contempt petitions filed by Ericsson India Pvt. Ltd. against Reliance Communications Ltd., Reliance Teleco...

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Bombay High Court Dismisses Petition Challenging Sale of Assets Under Securitisation Act. The Court upheld the acceptance of the highest bid by the Reconstruction Company, finding no arbitrariness in the process.

The petitioners, Akhilesh Spintex Pvt. Ltd. and its director, filed a writ petition challenging the sale of assets of respondent No.7 by respondent No...

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Bombay High Court Dismisses Appeal Seeking Permanent Stay of Winding Up of Svadeshi Mills Company Limited. Section 466 of Companies Act, 1956 does not permit stay of winding up after assets have been sold and substantial progress made in liquidation.

The case concerns an appeal against the dismissal of a company application under Section 466 of the Companies Act, 1956, seeking a permanent stay of t...

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Bombay High Court Dismisses Employer's Petition Challenging Interim Injunction in Unfair Labour Practice Complaint. Industrial Court's Order Restraining Sale of Assets Upheld as Within Jurisdiction Under MRTU & PULP Act, 1971.

The petitioners, Esselworld Leisure Pvt. Ltd. (a private limited company operating a ride and amusement park, water kingdom, and bird park) along with...

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Bombay High Court Disposes of Four Petitions Under Section 9 of Arbitration Act by Common Order. Interim Measures Sought by Financing Company Against Borrower and Guarantor for Default in Loan Repayments Secured by Hypothecated Equipment.

L&T Finance Limited, a company registered under the Companies Act, 1956, filed four petitions under Section 9 of the Arbitration and Conciliation Act,...

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High Court Adjudicates on Official Liquidator's Report on Claims of Secured Creditors in Company Liquidation. Distribution of Sale Proceeds from Assets of Company Under Liquidation Determined Based on Debts Recovery Tribunal Order.

The matter concerned the winding up of Maharashtra Explosives Ltd., a company incorporated under the Companies Act, 1956. By order dated 12-8-2001, th...