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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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High Court of Karnataka Allows Petition Under Section 482 CrPC to Quash Rejection of Surety in Murder Case. Court Directs Acceptance of Surety and Release of Accused Despite Non-Local Surety Objection.

The petitioner, Sunil Kamble, was accused No.1 in Crime No.55/2021 registered at Mahagaon Police Station for offences punishable under Sections 302 an...

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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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Bombay High Court Dismisses Appeal Against Refusal to Refer Dispute to Arbitration in Summary Suit for Recovery of Price of Goods Sold. Arbitration Clause in Clearing and Forwarding Agency Agreement Not Attracted as Dispute Arose from Independent Sale Transactions, Not from the Agreement.

The appellant-defendant, T.A.I. Pharma Ltd., entered into a Clearing and Forwarding Agency Agreement dated 1st January 2007 with the respondent-plaint...

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Supreme Court Upholds International Arbitral Award in Coal Supply Dispute — Damages Awarded for Breach of Contract. Division Bench of Delhi High Court Erred in Setting Aside Majority Award Under Section 37 of Arbitration and Conciliation Act, 1996 as Findings Were Plausible and Not Perverse.

The Supreme Court of India heard an appeal against a Division Bench judgment of the Delhi High Court that had set aside a majority international arbit...