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Supreme Court Allows Insolvency Proceedings Under IBC Over Defunct Scheme of Arrangement -- IBC Prevails Over Companies Act in Recovery of Defaulted Loans

The Supreme Court allowed an appeal against the Company Law Appellate Tribunal's order that kept in abeyance an application under Section 7 of the Ins...

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Bombay High Court Dismisses Petitions Challenging Reclassification of Mill Land as Non-NAINA Area Under DCPR 2034. Court upholds Monitoring Committee's decision that land not required for textile industry reverts to municipal reservation for public housing and amenity purposes.

The judgment concerns two writ petitions filed by Glider Buildcon Realtors Pvt Ltd and Mafatlal Industries Ltd challenging the decision of the Monitor...

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Supreme Court Dismisses Appeal in Companies Act Case Due to Lack of Locus Standi and Defunct Company Status. Appellant Failed to Establish Directorship or Aggrieved Person Status Under Section 560(5) of Companies Act, 1956, with Company Deemed Defunct Under Section 3 After Striking Off in 2006.

The appeal arose from a dispute over the striking off of Basanti Cotton Mills (1998) Private Limited's name from the register of the Registrar of Comp...

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Bombay High Court Allows Appeal in Sugar Mill Licensing Case — Aerial Distance Certificate Requirement Not Applicable to Defunct Factory. Clause 6A of Sugarcane (Control) Order, 1966 Requires Existing and Operating Sugar Factory for Distance Calculation.

The appellant, Bhavna Agro Products and Services Private Limited, sought to establish a sugar mill and applied for an Aerial Distance Certificate unde...

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Bombay High Court Dismisses Petition Challenging Execution Proceedings Against Director of Defunct Company. Director Added as Representative of Judgment Debtor Company, Not Personally Liable Under Decree.

The petitioner, Dr. Rekha Kamat Tarcar, was a former Technical Director of respondent no.2 company, Ravish Infusions Ltd. (now IFG Limited). She resig...