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Supreme Court Upholds NCLAT Decision on Limitation in Insolvency Petition Initiated by Financial Creditor. Application Under Section 7 of Insolvency and Bankruptcy Code, 2016 Held Within Limitation After Excluding Time Spent in SARFAESI Proceedings Under Section 14(2) of Limitation Act, 1963.

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dismissing an appeal against an order of the National Company ...

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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

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Supreme Court Dismisses Anticipatory Bail Plea of Former Finance Minister in INX Media Money Laundering Case. Custodial Interrogation Required Under PMLA as Allegations of FIPB Clearance Irregularities and Receipt of Proceeds of Crime Are Serious.

The Supreme Court dismissed an appeal by P. Chidambaram, former Finance Minister, against the Delhi High Court's refusal to grant anticipatory bail in...

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Bombay High Court Allows Substitution of Arbitrator in Sports Contract Disputes Under Sections 11 and 15(2) of Arbitration Act. Arbitrator's failure to render award within statutory period and subsequent resignation justified substitution despite respondent's objection.

The judgment concerns a group of arbitration applications filed under Section 11 and Section 15(2) of the Arbitration and Conciliation Act, 1996, by s...

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Supreme Court Reverses High Court's Decision in Property Title Dispute Due to Lack of Evidence on Power of Attorney. Concurrent Findings of Lower Courts Restored as Plaintiffs Failed to Prove Title and Compliance with Registration Act for Foreign-Executed Document.

The dispute originated from a civil suit filed by the original plaintiffs seeking declaration of title and recovery of possession over a property, all...

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Supreme Court Allows Appeals Against Quashing of Prosecution of Municipal Commissioners Under Water Pollution Act. Holds That Commissioner of City Municipal Council and Chief Officers Are 'Head of Department' Under Section 48 of Water (Prevention and Control of Pollution) Act, 1974.

The Karnataka State Pollution Control Board filed complaints against the City Municipal Council, Krishnarajapuram, Bangalore, and its Commissioner (B....

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Bombay High Court Allows Winding Up of S. Kumars Nationwide Ltd. for Inability to Pay Debts. Multiple financial creditors and operational creditors successfully proved the company's insolvency under Sections 433(e) and 434 of the Companies Act, 1956.

The judgment concerns a batch of company petitions filed by various financial creditors and operational creditors seeking the winding up of S. Kumars ...

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Bombay High Court Allows Resolution Professional to Continue CIRP Under IBC Despite Pending Winding-Up Petition Under Companies Act, 1956. Leave under Section 446 of Companies Act, 1956 granted to proceed with Corporate Insolvency Resolution Process under Insolvency and Bankruptcy Code, 2016.

The judgment concerns Company Application No. 10 of 2017 filed by the Resolution Professional of Murli Industries Limited (the corporate debtor) under...

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Supreme Court Dismisses Appeal to Enforce English Summary Judgment in Guarantee Dispute — Foreign Judgment Held Unenforceable for Violating Principles of Natural Justice Under Section 13 CPC. Summary judgment passed after denying leave to defend is not conclusive and cannot be enforced in India.

The dispute arose from a Share Purchase and Co-operation Agreement (SPCA) executed on 12.05.1995 between (appellant, a foreign company) and (responden...