12 August 2024

Search Results for Tag : Company

International Cases

Court can make an order relieving a person from civil liability for a broad range of contraventions if the person concerned acted honestly and no substantial injustice is caused to any person(15.07.2021)

In facts of present case, on 13 May 2021, the Plaintiff, Jit Sun Investments Pte Ltd (Jit Sun Investments), filed an originating process seeking order.....

Tags : Deregistered Company, Reinstatement, Registration

Judgments

Hindustan Motors continues to roll on its last cylinder(28.09.2015)

Hindustan Motors was granted reprieve against an order of the Board for Industrial and Financial Reconstruction restraining it from disposing of its a.....

Tags : Hindustan motors, sick, company, formal order

Court dismisses food adulteration proceedings against Kishore Biyani(29.09.2015)

In a case where upon finding a violation of the Prevention of Food Adulteration Rules, 1955 for insufficient information on the label of ‘Chana Besan’.....

Tags : Food adulteration, vicarious, management, company, misbranding

Employee of company has same locus standi as creditor(24.08.2015)

A three-judge bench of the Madhya Pradesh High Court answered the question, whether an employee of a company qualifies as a creditor of the company, i.....

Tags : Employee, creditor, company, debt

Mere reference of numerous members not having the same interest does not raise presumption of non-maintainability(12.08.2015)

In a case where the Petitioner, with over 3,000 members, alleged non-maintainability of a suit filed by one member disputing a resolution taken in an .....

Tags : Company, jurisdiction, single member, complaint

Notifications & Circulars

MHA clarifies Misplaced Apprehensions of Industry Associations regarding Legal liability on Company CEOs, if employees found COVID-19 positive(23.04.2020)

No Separate/Fresh Permissions required from Authorities for Industries already permitted to operate prior to 15.04.2020, in areas falling outside Cont.....

Tags : Clarification, Apprehensions, Legal liability, Company CEOs

MAT no longer applicable to foreign companies(24.09.2015)

Government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB of the Income Tax Act, 1961 will not be applicable t.....

Tags : Mat, 115jb, income tax, foreign company

SOP for listed subsidiary company desirous of getting delisted through Scheme of Arrangement wherein the listed parent holding company and listed subsidiary are in same line of business(06.07.2021)

1. SEBI, vide notification dated June 10, 2021, has notified the amendments made to the SEBI (Delisting of Equity Shares) Regulations, 2021 wherein, i.....

Tags : SOP, Subsidiary Company, Delisting

National Company Law Appellate Tribunal (Salaries, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2015(19.08.2015)

The Central government issued the Rules, 2015, enumerating the benefits available to the Chairperson of the National Company Law Appellate Tribunal u.....

Tags : chairperson, company law appellate tribunal, benefits

National Company Law Tribunal (Salary, Allowances and other Terms and Conditions of Service of President and other Members) Rules, 2015(19.08.2015)

The Central government issued the Rules, 2015, enumerating the benefits available to the President of the National Company Law Tribunal under the Comp.....

Tags : President, company law tribunal, benefits

Transfer of rights in specified land in the mentioned Government company(19.06.2023)

WHEREAS, on the publication of the notification of the Government of India in the Ministry of Coal, number S.O. 1705(E), dated the 12th April, 2023, p.....

Tags : Specified land, Rights, Government company

Notification regarding specified bank to mean a banking company which is a scheduled bank and has been appointed as an agent under Section 45 of Reserve Bank of India Act, 1934(02.09.2021)

In exercise of the powers conferred by clause (a) of Explanation to section 194P of the Income-tax Act, 1961 (43 of 1961), the Central Government here.....

Tags : Specified bank, Banking company, Notification

Foreign investment limits in Credit Information Companies revised(19.05.2016)

Foreign Direct Investment caps in Credit Information Companies have been raised significantly, including up to 100 per cent foreign ownership.

Tags : Credit information company, foreign investment

UBS AG no longer a banking company(19.05.2016)

The Reserve Bank of India notified USB AG, the Swiss multinational financial services firm, to have ceased being a ‘banking company’ under the Banking.....

Tags : Ubs, swiss, banking company, banking act

RBI imposes monetary penalty on Amrit Malwa Capital Limited, Jalandhar, Punjab(28.09.2021)

The Reserve Bank of India (RBI) has, by an order dated September 28, 2021, imposed a monetary penalty of Rs.10 lakh (Rupees Ten Lakh only) on Amrit Ma.....

Tags : Penalty, Imposition, Company

SEBI cautions investors against investing in unlisted companies(16.03.2016)

The Securities and Exchange Board of India cautioned against unlisted companies luring retail investors by issuing securities without complying with c.....

Tags : Sebi, unlisted company, investment

Draft to determine company’s ‘Place of Effective Management’(23.12.2015)

The Ministry of Finance has released draft guidelines proposing principles to determine the ‘place of effective management’ of a company, for the purp.....

Tags : Income tax, company, effect management, draft, principles

Central Registration Centre established under Companies Act, 2013(22.01.2016)

The Ministry of Corporate Affairs has established a Central Registration Centre to process and decide applications for reservation of names under the .....

Tags : Central registration, company, name, reservation

Companies (Incorporation) Amendment Rules, 2016(22.01.2016)

The Ministry of Corporate Affairs has notified Companies (Incorporation) Am.....

Tags : Company, incorporation, reservation of name

National Company Law Tribunal effective 1 June 2016(01.06.2016)

The Central Government constituted the National Company Law Tribunal and Appellate Tribunal for hearing matters arising under the Companies Act and th.....

Tags : companies act, bankruptcy code, company law tribunal

Comments invited on minimum alternate tax report(28.04.2016)

The Central Board of Direct Taxes is receiving comments on the recommendations of the Committee on Minimum Alternate Tax for Indian Accounting Standar.....

Tags : minimum alternate tax, company, ind as

RBI requires frequent updates on CP and UFCE investments(23.06.2016)

Investment by banks and financial institutions in commercial papers will have to be reported monthly to all credit information companies, the Reserve .....

Tags : commercial paper, unhedged exposure, reporting, credit company

Exemption of a Banking Company from the application of the provisions of Sections 5 and 6 of the Competition Act, 2002(11.03.2020)

In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government hereby exempts a Ban.....

Tags : Exemption, Banking Company, Application, Provisions

Companies (Share Capital and Debentures) Third Amendment Rules, 2016(19.07.2016)

The government introduced the Companies (Share Capital and Debentures) Third Amendment Rules 2016, amending the extant 2014 rules.

Among th.....

Tags : company, share capital, rules, amendment, 2016

Companies (Acceptance of Deposits) Second Amendment Rules, 2015(15.09.2015)

The Ministry of Corporate Affairs notified amendment to Rule 2(i)(c)(viii) of the Companies (Acceptance of Deposits) Rules, 2014. Aside from being per.....

Tags : Company, director, funds, give, declaration

Report on measures for improved monitoring of CSR released(01.01.1900)

A High Level Panel constituted by the Ministry of Corporate Affairs has released a report suggesting measures for monitoring the progress of implement.....

Tags : Company, corporate social responsibility, report, high level

Report on measures for improved monitoring of CSR released(19.10.2015)

A High Level Panel constituted by the Ministry of Corporate Affairs has released a report suggesting measures for monitoring the progress of implement.....

Tags : Company, corporate social responsibility, report, high level

Greater vigilance for multiple directorships and common addresses of companies(03.11.2015)

The Special Investigation Team has sought permission from the Ministry of Corporate Affairs to take action against violations of the Companies Act, 19.....

Tags : Company, address, operating, directorship

News

Supreme Court: Companies Cannot Claim 'Premium' Received on Shares as 'Deduction'(29.03.2017)

Supreme Court has held that premium collected by companies on its subscribed share capital does not come within the ambit of “capital employed in busi.....

Tags : Supreme Court,Income Tax Act, Company

SC Stays NCLAT Order Allowing Reliance Communication to Sell Tower Assets(16.04.2018)

Supreme Court has stayed National Company Law Appellate Tribunal’s (NCLAT) order that allowed selling of towers and fibre assets by Reliance Communica.....

Tags : Supreme Court, National Company Law Appellate Tribunal, Reliance Communications

INSOLVENCY - NCLAT Allows Implementation of Arcelor Mittal's Resolution Plan for Essar Steel(19.03.2019)

National Company Law Appellate Tribunal (NCLAT) has given conditional approval to Arcelor Mittal's Rs 42,000 crore resolution plan for Essar Steel, su.....

Tags : National Company Law Appellate Tribunal, Arcelor Mittal, Essar Steel

INSOLVENCY - NCLAT Sets Aside Jyoti Structures Liquidation(25.03.2019)

National Company Law Appellate Tribunal (NCLAT) has set aside the order to liquidate Jyoti Structure and asked the Mumbai bench of NCLT to consider th.....

Tags : National Company Law Appellate Tribunal, Jyoti Structure, Sharad Sanghi, NCLT

INSOLVENCY-Workmen's Dues of Pension, Gratuity, PF Not Included in Liquidation Assets of Debtor: NCLT(26.03.2019)

National Company Law Tribunal has ruled that dues of provident fund, pension and gratuity do not form part of liquidation estate of corporate debtor a.....

Tags : National Company Law Tribunal, NCLT

CIVIL - Orissa HC Allows Vedanta to Take Part in NALCO's Tender for Alumina(27.03.2019)

Orissa High Court has allowed Vedanta Limited to participate in the tender floated by the National Aluminum Company Ltd. (NALCO) for the sale of its 3.....

Tags : Orissa High Court, National Aluminum Company Ltd., Vedanta Limited

Delhi HC Pulls Up Ebay against Violation of Its Order(20.06.2016)

Delhi HC has pulled up e-commerce company, ebay, that violation of its order stopping the site from selling products under any name deceptively simila.....

Tags : Delhi HC , e-commerce company, ebay

NCLAT Admits Jaiprakash Associates' Plea Against NCLT Order(04.06.2018)

National Company Law Appellate Tribunal (NCLAT) has admitted the petition of debt ridden Jaiprakash Associates challenging NCLT order, which had direc.....

Tags : National Company Law Appellate Tribunal

NCLT Admits Proceedings Against Shri Lakshmi Cotsyn(05.06.2018)

National Company Law Tribunal has admitted insolvency proceedings against BSE-listed Shri Lakshmi Cotsyn after the Kanpur-based textile manufacturer f.....

Tags : National Company Law Tribunal, Insolvency

Principles of Natural Justice to be Followed Before Branding a Company a Shell Company: Gauhati HC(19.04.2019)

Gauhati High Court has held that an order branding any company as a shell company, without serving notice or hearing, violates principles of natural j.....

Tags : Gauhati High Court, Shell Company, Principles of Natural Justice

ITAT, Kolkata: Swapping Company Shares Among Shareholders Does Not Attract Addition u/s 68(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that the provisions of Section 68 of the Income Tax Act, 1961 would not be applicable in case o.....

Tags : Income Tax Appellate Tribunal, Swapping Company Shares

ITAT, Pune: French Company Can’t be Taxed for Rendering IT Support Services to Indian Entities(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Information Technology (IT) support services rendered by a French Company to an Ind.....

Tags : Income Tax Appellate Tribunal, French Company Rendering IT Support

NCLAT: Creditors Belonging to Different Classes Can be Given Different Treatment(03.03.2020)

National Company Law Appellate Tribunal has reconfirmed the principle that the touchstone for judging the benevolence of a resolution plan does not de.....

Tags : National Company Law Appellate Tribunal, Differential Treatment of Creditors

National Company Law Tribunal Clears NBCC Offer for Jaypee Infratech(04.03.2020)

National Company Law Tribunal has approved NBCC’s offer to take over Jaypee Infratech, which has to deliver apartments, plots and villas to nearly 21,.....

Tags : National Company Law Tribunal, TAkeover of Jaypee Infratech

NCLAT Directs Competition Commission of India to Probe into Flipkart(05.03.2020)

National Company Law Appellate Tribunal has directed the Competition Commission of India to start probing Flipkart for alleged misuse of dominant posi.....

Tags : National Company Law Appellate Tribunal, Flipkart

National Company Law Appellate Tribunal Dismisses Pleas of Deloitte, BSR(05.03.2020)

National Company Law Appellate Tribunal has dismissed the pleas of auditors of debt-rid Buyback Tax Caseden Infrastructure Leasing & Financial Service.....

Tags : National Company Law Appellate Tribunal, Deloitte, BSR

NCLT Allows Government to Reopen CG Power’s Accounts for 5 Fiscals(06.03.2020)

National Company Law Tribunal has allowed the corporate affairs ministry to reopen the books of CG Power for the last 5 financial years so that it cou.....

Tags : National Company Law Tribunal, CG Power

NCLT: Rs. 750 Cr. Paid by JAL for Obligation of JIL Should be Treated As Asset of Corporate Debtor(06.03.2020)

National Company Law Tribunal has observed that Rs. 750 Crore deposited by Jaypee Infratech’s (JIL) parent firm Jaiprakash Associates (JAL) with the S.....

Tags : National Company Law Tribunal, Jaypee Infratech

INSOLVENCY - NCLT Approves Revised Resolution Plan for Jyoti Structures(28.03.2019)

National Company Law Tribunal (NCLT) has approved the resolution plan for Jyoti Structures presented by the Resolution Professional on behalf of a gro.....

Tags : National Company Law Tribunal, NCLT, Jyoti Structures, Sharad Sanghi

National Company Law Tribunal, Delhi Approves Adani’s Bid to Buy Aditya Estates(24.02.2020)

National Company Law Tribunal, Delhi has approved the resolution plan of Adani Properties to acquire Aditya Estates for a total deal value of Rs 400 C.....

Tags : National Company Law Tribunal, Aditya Estates Takeover

National Company Law Appellate Tribunal Rejects Insolvency Plea Against Sintex Infra(24.02.2020)

National Company Law Appellate Tribunal has dismissed the Lloyd Insulations India Ltd’s plea to initiate proceedings against Sintex Prefab and Infra L.....

Tags : National Company Law Appellate Tribunal, Sintex Infra

NCLAT: Auditor Cannot be Debarred for 5 Years in Absence of Evidence(26.02.2020)

National Company Law Appellate Tribunal has set aside an order passed by National Company Law Tribunal in a matter relating to debarring of an auditor.....

Tags : National Company Law Appellate Tribunal, Debarring of Auditor

NCLT, Mumbai Orders to Restore E-way Bill Facility for Taxpayers Undergoing Insolvency Proceedings(26.02.2020)

National Company Law Tribunal (NCLT), Mumbai has ordered to restore the e-way bill facility for taxpayers undergoing insolvency proceedings.

Tags : National Company Law Tribunal, E-way Bill Facility for Taxpayers Undergoing Insolvency Proceedings

National Company Law Tribunal, Chandigarh Approves HUL-GSK Merger(27.02.2020)

National Company Law Tribunal, Chandigarh has approved the merger of GlaxoSmithKline (GSK) Consumer with Hindustan Unilever (HUL).

Tags : National Company Law Tribunal, HUL-GSK Merger

National Company Law Appellate Tribunal Sets Aside Flipkart’s Insolvency Proceedings(28.02.2020)

National Company Law Appellate Tribunal has set aside the order of the National Company Law Tribunal to initiate insolvency proceedings against Flipka.....

Tags : National Company Law Appellate Tribunal, Flipkart’s Insolvency Proceedings

NCLAT Upholds CCI Order on Adani Gas for Abuse of Dominant Position(11.03.2020)

National Company Law Appellate Tribunal has upheld the Competition Commission of India’s order holding Adani Gas Ltd. guilty of abuse of dominant posi.....

Tags : National Company Law Appellate Tribunal, Competition Commission of India, Adani Gas

NCLT, Chennai Approves Cochin Shipyard's Resolution Plan to Acquire TSL(11.03.2020)

National Company Law Tribunal, Chennai has accepted the resolution plan filed by public sector company, Cochin Shipyard Limited to acquire Chennai-bas.....

Tags : National Company Law Tribunal, TSL Takeover

NCLAT Seeks Resolution of IL&FS Cases in 90 Days(13.03.2020)

National Company Law Appellate Tribunal has approved the resolution framework for Infrastructure Leasing & Financial Services Limited (IL&FS) Group an.....

Tags : National Company Law Appellate Tribunal, IL&FS Cases

NCLAT Rejects Government Plea to Remove Board of 63 Moons Technologies(13.03.2020)

National Company Law Appellate Tribunal has set aside the Government’s plea to supersede the board of 63 Moons Technologies. The Tribunal further uphe.....

Tags : National Company Law Appellate Tribunal, 63 Moon Technologies

NCLAT Sets Aside CAIT’s Plea Against Flipkart-Walmart Deal(13.03.2020)

National Company Law Appellate Tribunal has dismissed a Petition filed by Confederation of All India Traders (CAIT) against the Competition Commission.....

Tags : National Company Law Appellate Tribunal, Flipkart-Walmart Deal

NCLAT: Limitation Period Applicable to Application Filed by Financial Creditor(16.03.2020)

National Company Law Appellate Tribunal has reversed the order of the National Company Law Tribunal, Ahemdabad holding that the order of admission of .....

Tags : National Company Law Appellate Tribunal, Limitation on Application by Financial Creditor

Government Notifies Constitution of NCLT and NCLAT(02.06.2016)

Government as a move to resolve corporate disputes faster and improve the ease of doing business in India has notified the constitution of the Nationa.....

Tags : Company Law Tribunal, National Company Law Appellate Tribunal

NCLT Orders JAL to Return Land to Jaypee Infra(18.05.2018)

Allahabad bench of National Company Law Tribunal (NCLT) has ordered that 858 acres of land of bankrupt Jaypee Infratech which was transferred by the f.....

Tags : National Company Law Tribunal, JAL

Lenders Having Vested Interest in Debtor shouldn’t be Part of Creditors’ Panel: NCLT(15.04.2019)

National Company Law Tribunal (NCLT), Chennai Bench has held that a party having a vested interest /relation with a corporate debtor should not be a p.....

Tags : National Company Law Tribunal, Committee of Creditors

NCLAT Upholds CCI's Findings on Anti-Competitive Conduct by Malayalam Cinema Actors Body(18.03.2020)

National Company Law Appellate Tribunal has dismissed a bunch of Appeals filed by the Film Employees Federation of Kerala, Association of Malayalam Mo.....

Tags : National Company Law Appellate Tribunal, Malayalam Cinema Actors Body

NCLT Allows Jet Airways Extension for Filing of CIRP(19.03.2020)

National Company Law Tribunal has allowed the plea filed by the resolution professional (RP) of Jet Airways seeking an extension of 90 days for the co.....

Tags : National Company Law Tribunal, Jet Airways

NCLAT Withdraws Roster for Urgent Listing(24.03.2020)

National Company Law Appellate Tribunal (NCLAT) has withdrawn the rosters issued in regard to hearing of urgent matters on 25th March, 2020 and 1st Ap.....

Tags : National Company Law Appellate Tribunal, Withdrawal of rosters

Supreme Court Upholds AP High Court Judgment Annulling 'Hereditary Job' Scheme in SCCL(20.04.2017)

Supreme Court has upheld Andhra Pradesh High Court judgment which had quashed ‘hereditary jobs’ scheme for Singareni Collieries Company Limited (SCCL).....

Tags : Supreme Court, Singareni Collieries Company Limited, hereditary jobs

NCLT Dismisses Mistry's Plea Alleging Mismanagement, Minority Oppression at Tata Sons(24.04.2017)

National Company Law Tribunal, while dismissing Cyrus Mistry petition that alleged mismanagement and minority shareholder oppression at Tata Sons, has.....

Tags : National Company Law Tribunal, Mismanagement, Minority Oppression, TATA

NCLT Chandigarh Allows Fortis to Withdraw SRL Demerger Scheme(18.06.2018)

National Company Law Tribunal, Chandigarh has allowed Fortis Healthcare to withdraw its scheme to demerge SRL diagnostics from the group and merge it .....

Tags : National Company Law Tribunal, Fortis

No TDS on Broadcast Company on Channel Placement Fees: ITAT(23.04.2019)

Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that Tax Deduction at Source (TDS) provision will not be applicable for broadcast company .....

Tags : ITAT, Broadcast Company

Staff Entitled to Know About Financial Status of Company: CIC(26.04.2019)

Central Information Commission has held that an employee is entitled to know under Right to Information Act, 2005 about the financial status of the em.....

Tags : Central Information Commission, Staff Entitled to Know About Financial Status of Company

NCLAT Directs NBCC to Implement Resolution Plan Pending Appeal in Jaypee Infratech Matter(27.04.2020)

National Company Law Appellate Tribunal has declined to stay the implementation of the modified resolution plan and directed NBCC Limited to acquire t.....

Tags : National Company Law Appellate Tribunal, Jaypee Infratech

Bombay High Court Refuses Relief to Govt Employee in Bribery Case(07.03.2017)

Bombay High Court has refused to grant relief to a MSEDCL (Maharashtra State Electricity Distribution Company Ltd) employee who was charged with accep.....

Tags : Bombay High Court, Maharashtra State Electricity Distribution Company Ltd

National Company Law Appellate Tribunal Asks DLF to Register Transfer of Shares to Legal Heirs(20.01.2020)

National Company Law Appellate Tribunal has directed DLF Ltd. to register the transfer of 60,000 shares to the legal heirs of one of its deceased shar.....

Tags : National Company Law Appellate Tribunal, DLF Ltd.

NCLAT Stays NCLT’s Order Prohibiting Appointment of Ex- Bankers as Resolution Professional(21.01.2020)

National Company Law Appellate Tribunal has stayed National Company Law Tribunal’s Order which prohibited appointing a former bank official as indepen.....

Tags : National Company Law Appellate Tribunal, Appointment of Ex- Bankers

National Company Law Appellate Tribunal Reverses Tribunal Order Against Raheja Developers(24.01.2020)

National Company Law Appellate Tribunal has set aside a Tribunal Order to appoint an interim resolution professional for Raheja Developers and has all.....

Tags : National Company Law Appellate Tribunal, Raheja Developers

National Company Law Tribunal Clears SNJ’s Takeover of Empee Distilleries(27.01.2020)

National Company Law Tribunal, Chennai has approved the bid of SNJ Group to acquire the Empee Distilleries for Rs 475 Crores.

Tags : National Company law Tribunal, SNJ Takeover

National Company Law Tribunal Allows Videocon to Extend the Insolvency Process(29.01.2020)

National Company Law Tribunal has allowed Videocon to extend the corporate insolvency resolution process for 90 days.

Tags : National Company Law Appellate Tribunal, Videocon

National Company Law Tribunal Suspends Delhi Gymkhana Club's Board(15.02.2021)

National Company Law Tribunal (NCLT) has ordered the suspension of the Delhi Gymkhana Club's board. The Tribunal has also asked the Ministry of Corpor.....

Tags : National Company Law Tribunal, Delhi Gymkhana

National Company Law Appellate Tribunal Orders Reverse Real Estate Insolvency Process(12.02.2020)

National Company Law Appellate Tribunal has passed an order for a reverse insolvency process, which could set a template for stressed real estate proj.....

Tags : National Company Law Appellate Tribunal, Reverse Real Estate Insolvency Process

National Company Law Tribunal Orders Videocon Foreign Arms to be Included in Insolvency Process(13.02.2020)

National Company Law Tribunal has ordered the inclusion of Videocon’s oil businesses in Brazil and Indonesia as part of insolvency proceedings being c.....

Tags : National Company Law Appellate Tribunal, Videocon

NCLAT: CIRP Against Real Estate Company to Affect the Only Project Concerned(13.02.2020)

National Company Law Appellate Tribunal has held that an insolvency process against a real estate company will impact only the project concerned and n.....

Tags : National Company Law Appellate Tribunal, Appointment of Ex- Bankers

NCLAT, New Delhi: Interest Alone Cannot Be Construed as Operational Debt(13.02.2020)

National Company Law Appellate Tribunal (NCLAT), New Delhi has held that claim amount towards Interest on loan alone, cannot be termed as an ‘Operatio.....

Tags : National Company Law Appellate Tribunal, Operational Debt

National Company Law Appellate Tribunal Gives JSW Steel Immunity from All Criminal Probes(18.02.2020)

National Company Law Appellate Tribunal has given JSW Steel immunity from all criminal investigations after it takes over Bhushan Power & Steel, whose.....

Tags : National Company Law Appellate Tribunal, JSW Steel Ltd., Immunity

NCLAT Decides to Close Umang Realtech Insolvency Resolution Process(19.02.2020)

National Company Law Appellate Tribunal has decided to close the corporate insolvency resolution process against Umang Realtech if the company manages.....

Tags : National Company Law Appellate Tribunal, Umang Realtech Insolvency Resolution Process

SC Bars NCLT, Mumbai from Passing Final Orders on Future Plea for Calling Shareholders’ Meeting(23.02.2021)

Supreme Court has allowed the National Company Law Tribunal (NCLT), Mumbai, to continue proceedings on Kishore Biyani-led Future Retail’s plea seeking.....

Tags : Supreme Court, National Company Law Tribunal, Future Retail

National Company Law Appellate Tribunal Rejects Registrar of Company’s Plea in Tata- Mistry Case(07.01.2020)

National Company Law Appellate Tribunal has dismissed the petition filed by the Registrar of Companies and refused to modify its judgement passed in t.....

Tags : National Company Law Appellate Tribunal, Tata

National Company Law Tribunal Orders Two Nicco Parks & Resorts Directors to Quit(07.01.2020)

National Company Law Tribunal has passed an order asking the two directors of Nicco Parks & Resorts, Rajive Kaul and daughter Pallavi Priyadarshini, t.....

Tags : National Company Law Tribunal, Nicco Parks

National Company Law Tribunal Tells Jet Airways’ Lenders to Release Funds for Interim Finance(09.01.2020)

National Company Law Tribunal has directed Jet Airways’ lenders to release funds as per an earlier direction to meet the grounded airline’s interim fi.....

Tags : National Company Law Tribunal, Jet Airways

National Company Law Tribunal, Hyderabad Orders Insolvency for Sri Yadadri Life Sciences(09.01.2020)

National Company Law Tribunal, Hyderabad bench has ordered the proceedings at Sri Yadadri Life Sciences for the alleged default in payments to Adroit .....

Tags : National Company Law Tribunal, Insolvecny

NCLT, Mumbai: Advance Amount Received by Property Owner is Operational Debt(18.01.2021)

National Company Law Tribunal (NCLT), Mumbai has ruled that the advance amount received by a property owner from the real-estate developer for a re-de.....

Tags : National Company Law Tribunal, Operational Debt

NCLT Admits ISRO-Arm Antrix's Plea to Wind Up Devas Multimedia(20.01.2021)

National Company Law Tribunal, Bengaluru, has admitted the petition filed by Indian Space Research Organization's commercial arm Antrix Corporation Lt.....

Tags : National Company Law Tribunal, Devas Multimedia

RBI Notifies P2P Lending Platforms as NBFCs(21.09.2017)

Reserve Bank of India has notified that Peer-to-Peer (P2P) lending platforms will fall under the ambit of a Non-Banking Financial Company (NBFC).

Tags : Reserve Bank of India, Non-Banking Financial Company

NCLAT Grants Shareholding Waiver to Mistry(22.09.2017)

National Company Law Appellate Tribunal (NCLAT) has waived the minimum shareholding rule for Ousted Tata Sons chairman Cyrus Mistry to file a case of .....

Tags : National Company Law Appellate Tribunal

NCLAT Stays Resolution Plan for Assam Company on SEBI Plea(26.10.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed the resolution plan approved by the Guwahati Bench of National Company Law Tribunal (NCLT) .....

Tags : NCLAT, Assam Company (India) Ltd.

NCLAT Stays Resolution Plan for Assam Company on SEBI Plea(26.10.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed the resolution plan approved by the Guwahati Bench of National Company Law Tribunal (NCLT) .....

Tags : NCLAT, Assam Company (India) Ltd.

NCLAT Stays NCLT's Assam Company Takeover Order(29.10.2018)

Supreme Court has ordered Central Vigilance Commissioner (CVC) to complete his inquiry into Central Bureau of Investigation director Alok Verma in two.....

Tags : NCLAT, Assam Company

NCLAT Stays NCLT's Assam Company Takeover Order(29.10.2018)

National Company Law Appellate Tribunal has stayed till the next hearing, BRS Ventures’ Rs 12.14 billion resolution plan for taking over of Assam Comp.....

Tags : NCLAT, Assam Company

NCLT Clears IL&FS Education Arm Sale to JV Partner(03.09.2020)

National Company Law Tribunal has approved the sale of Schoolnet India, a subsidiary of IL&FS, to an arm of Lexington Equity Holdings (LEHL).

Tags : National Company law Tribunal, Schoolnet India

NCLAT Stays Vedanta Group’s Winning Bid for Videocon Industries(20.07.2021)

National Company Law Appellate Tribunal (NCLAT) has stayed Vedanta Group’s winning bid for debt-laden Videocon Industries after an appeal by dissentin.....

Tags : National Company Law Appellate Tribunal, Videocon Industries

NCLAT: Pendency of Appeal Under Arbitration Act Does Not Bar Insolvency Process Under IBC(01.09.2017)

National Company Law Appellate Tribunal has observed that pendency of S.37 appeal under Arbitration Act cannot be treated as an ‘existence of dispute’.....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code

NCLAT Sets Aside NCLT's Order for Acquisition of RICOH by Dharamshi- Jhunjhunwala Consortium(13.08.2020)

National Company Law Appellate Tribunal (NCLAT) has allowed the appeal challenging an order passed by National Company Law Tribunal (NCLT), Mumbai whi.....

Tags : National Company Law Appellate Tribunal, Acquisition of RICOH by Dharamshi- Jhunjhunwala Consortium

SC Sets Aside Delhi HC's Direction to Insurance Company to Plant 100 Trees(14.08.2020)

Supreme Court has set aside the direction issued by the Delhi High Court to Oriental Insurance Company Ltd to plant hundred trees in a claims matter.

Tags : Supreme Court, Oriental Insurance Company Ltd

NCLAT Upholds NCLT's Order of No Insolvency Proceedings Against Tata Chemicals(20.08.2020)

National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by Allied Silica Limited challenging the National Company Law Tribunal, .....

Tags : National Company Law Appellate Tribunal, Tata Chemicals

NCLT, Mumbai Initiates Insolvency Process Against Anil Ambani Over Personal Guarantee(24.08.2020)

National Company Law Tribunal, Mumbai has allowed an application filed by State Bank of India to initiate insolvency proceedings against Reliance Comm.....

Tags : National Company law Tribunal, Anil Ambani

LCIA Rules Against Djibouti’s Port Company in Dispute with DP World(13.07.2021)

London Court of International Arbitration (LCIA) has ruled against Djibouti’s port company, Port de Djibouti S.A. (PDSA), in its dispute with DP World.....

Tags : London Court of International Arbitration, Djibouti’s Port Company

Colgate-Palmolive Successfully Books Indian Patent for a Powered Toothbrush(27.10.2015)

Colgate-Palmolive Company has received Indian patent for an invention titled Powered Toothbrush, as it has satisfactorily met with various objections .....

Tags : Colgate-Palmolive Company ,Powered Toothbrush, n Patent

Allahabad High Court Disallows Parallel Proceedings in NCLT and DRT(12.09.2017)

Allahabad High Court has barred parallel proceedings in National Company Law Tribunal (NCLT) and the Debt Recovery Tribunal (DRT) in a case between St.....

Tags : Allahabad High Court, National Company Law Tribunal, Debt Recovery Tribunal

Investment can’t be Written Off as Bad Debt if Project fails to Take Off: ITAT(12.10.2018)

Income Tax Appellate Tribunal (ITAT ) has given major setback to Aditya Birla Power Company Limited and held that investment in the project which fail.....

Tags : ITAT, Investment, Aditya Birla Power Company Limited

NCLAT Sets Aside NCLT Order Dismissing Initiation of CIRP Against Mittal Corp(15.09.2020)

National Company Law Appellate Tribunal (NCLAT) has set aside an order passed by the National Company Law Tribunal (NCLT), Mumbai which had dismissed .....

Tags : National Company Law Appellate Tribunal, Mittal Corp Limited

SC: Court Cannot Direct Continued Maintenance by Insurance Company of Prosthetic Limb(18.08.2021)

Supreme Court has observed that while determining compensation under the Motor Vehicle Act, 1988, a Court cannot direct the continued maintenance by I.....

Tags : Supreme Court, Continued Maintenance by Insurance Company of Prosthetic Limb

Kerala High Court Permits Minor Girl to Accompany Her Father to Sabarimala Temple(18.08.2021)

Kerala High Court has passed an interim order permitting a 9-yr-old girl to accompany her father to the Sabarimala temple for darshan. The Court has c.....

Tags : Kerala High Court, Minor Girl to Accompany Her Father to Sabarimala Temple

NCLAT: Foreign Company Having No Office, Account in India Will Not Suffer in Recovering Debt(23.05.2017)

NCLAT has rejected argument that foreign companies having no office or no account in India with any “financial institution” will suffer in recovering .....

Tags : NCLAT, Foreign Company

NCLAT Rules 'Dispute' As Defined in IBC is Illustrative and Not Exhaustive(25.05.2017)

National Company Law Appellate Tribunal has held that the term “dispute” as defined in Insolvency and Bankruptcy Code (S. 9) is illustrative and not e.....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code

Government Notifies Merger of COMPAT with NCLAT(30.05.2017)

Government of India (GoI) has notified May 26, 2017 as the day on which appeals that were previously being heard by Competition Appellate Tribunal (CO.....

Tags : Government of India, Competition Appellate Tribunal, National Company Law Appellate Tribunal

Central Government Sets Up NCLT Bench in Kochi(01.08.2018)

Central Government has constituted a Bench of the National Company Law Tribunal (NCLT) in Kochi which will be effective from August 1 this year.

Tags : National Company Law Tribunal, Kochi

NCLT Urges Litigants to File Joint Memo of Written Submissions to Avoid Delay in Disposal(08.04.2020)

National Company Law Tribunal (NCLT) has urged all the litigants to file "Joint Memo" of written submissions, to avoid the lengthy process of filing r.....

Tags : National Company Law Tribunal, Joint Memo of Written Submissions

NCLT, Kochi: Initiation of CIRP Not Mandatory for Application Against Personal Guarantors(28.02.2022)

National Company Law Tribunal, Kochi has held that when an application for initiation of corporate insolvency resolution process (CIRP) is pending bef.....

Tags : National Company Law Tribunal, Application Against Personal Guarantors

NCLT: Promoters Cannot Escape Liquidation of Personal Assets(19.07.2017)

National Company Law Tribunal has held that personal properties of Promoters given as security to Banks can be proceeded against, in spite of initiati.....

Tags : National Company Law Tribunal, insolvency proceedings

NCLT: Proceedings u/s 138 NI Act Have Nothing To Do With Insolvency Application Under I&B Code(28.07.2017)

National Company Law Tribunal has ruled that disclosure of fact of initiation of proceedings u/s 138 of Negotiable Instruments Act in not necessary wh.....

Tags : National Company Law Tribunal, Insolvency and Bankruptcy Code

#Insolvency Code: NCLAT Sets Aside Inox Wind’s Insolvency Proceedings(31.07.2017)

National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Inox Wind Ltd, on grounds that “principles of natural jus.....

Tags : National Company Law Appellate Tribunal, Inox

Bombay HC: NCLAT Has No Jurisdiction Over Petition Under Arbitration Act(14.04.2021)

Bombay High Court has held that the National Company Law Appellate Tribunal has absolutely no jurisdiction over it in a petition under the Arbitration.....

Tags : Bombay High Court, National Company law Appellate Tribunal, Jurisdiction Over Petition Under Arbitration Act

ITAT, Ahmedabad: Shares at Face Value by Amalgamated Company Not Covered Under Income Tax Act(16.04.2021)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that the Shares at ‘face value’ by the amalgamated company to shareholders in pursuance of s.....

Tags : Income Tax Appellate Tribunal, Shares at Face Value by Amalgamated Company

NCLT Chennai Admits Application Initiating CIRP Against Coastal Energen Pvt. Ltd.(11.02.2022)

National Company Law Tribunal, Chennai has admitted the application of State Bank of India/ Financial Creditor for initiation of corporate insolvency .....

Tags : National Company Law Tribunal, Coastal Energen Pvt. Ltd.

NCLAT Hauls Unitech Ltd for Defaulting Payment to Deposit Holders(28.02.2020)

National Company Law Appellate Tribunal has directed Unitech Limited to repay the amount(s) to its deposit holder’s penedente lite along with future i.....

Tags : National Company Law Appellate Tribunal, Unitech Ltd

NCLT Benches to Function Through Virtual Mode from January 3 to January 31(03.01.2022)

National Company Law Tribunal (NCLT) has decided to revert to Virtual Mode of hearing from January 3, 2022, to January 31, 2022, taking note of the pr.....

Tags : National Company Law Tribunal, Virtual Mode of Functioning

NCLT, Hyderabad Initiates Corporate Insolvency Resolution Process Against Tata Projects Ltd(06.01.2022)

National Company Law Tribunal, Hyderabad has initiated Corporate Insolvency Resolution Process against Tata Projects Limited for its failure to pay ba.....

Tags : National Company Law Tribunal, Corporate Insolvency Resolution Process, Tata Projects Ltd

NCLAT: Stage for Considering Default in Order at Time When Matter Taken Up u/s 100 IBC(07.01.2022)

National Company Law Appellate Tribunal has held that when an application is filed under Section 95 of the Insolvency and Bankruptcy Code, 2016, the A.....

Tags : National Company Law Appellate Tribunal, Stage for Considering Default in Order

NCLAT Refuses to Grant Interim Relief to Amazon Against CCI Order Suspending Deal(14.01.2022)

National Company Law Appellate Tribunal has refused to grant interim relief to Amazon against its plea challenging the order of the Competition Commis.....

Tags : National Company Law Appellate Tribunal, Amazon

NCLAT: Ola Has Not Abused Its Dominant Position, Not Used Predatory Pricing(18.01.2022)

National Company Law Appellate Tribunal has refused to set aside the order passed by the Competition Commission of India in 2017 and held that Ola has.....

Tags : National Company Law Appellate Tribunal, Ola, Predatory Pricing

NCLAT: Asset Can be Kept Out of Liquidation Estate if Asset is Sub-Judice Before High Court(24.01.2022)

National Company Law Appellate Tribunal has held that an asset can be kept out of liquidation estate if the said asset is sub-judice before the High C.....

Tags : National Company Law Appellate Tribunal, Asset, Liquidation

NCLAT: Approval of Committee of Creditors Not Mandatory When Seeking Exclusion of Time(24.01.2022)

National Company Law Appellate Tribunal has held that the approval of the Committee of Creditors is not mandatory when seeking exclusion of time in vi.....

Tags : National Company Law Appellate Tribunal, Exclusion of Time

NCLT, Delhi: Advanced Deposit Towards Licence Fee Considered as Operational Debt(25.01.2022)

National Company Law Tribunal, Delhi has held that advanced deposit towards license fee would be considered as an Operational Debt and issuance of not.....

Tags : National Company Law Tribunal, Advanced Deposit Towards Licence Fee

NCLT Allows to Replace BoI in NCLT Proceedings Against National Steel & Agro Industries Limited(27.01.2022)

National Company Law Tribunal (NCLT) has allowed an interlocutory application by JM Financial ARC Limited, a third party, to substitute Bank of India .....

Tags : National Company Law Tribunal, National Steel & Agro Industries Limited

NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor

NGT: Uttarakhand Floods Not 'Act of God'(26.08.2016)

National Green Tribunal while rejecting GVK Group firm Alaknanda Hydro Power Company's contention that the 2013 cloudburst and floods in Uttarakhand w.....

Tags : National Green Tribunal, Alaknanda Hydro Power Company

Gujarat HC: Principle of Mutuality Applies to Club Run by a Company(23.06.2017)

Gujarat High Court, while deleting addition in respect of life membership and entrance fees received by assessee-Company, held that principle of mutua.....

Tags : Gujarat High Court, company

NCLT Sets 90-day Deadline for Jet Airways Bankruptcy Resolution(21.06.2019)

National Company Law Tribunal (NCLT) while admitting insolvency petition moved by State Bank of India against Jet Airways has instructed that the reso.....

Tags : National Company Law Tribunal, NCLT, Jet Airways

NCLAT Sets Aside NCLT Order to Add MCA as Party in All IBC Cases and Company Petitions(26.05.2020)

National Company Law Appellate Tribunal (NCLAT) has set aside an order of National Company Law Tribunal (NCLT) which mandated the impleadment of the U.....

Tags : National Company Law Appellate Tribunal, Ministry of Corporate Affairs, Party to IBC Matters

NCLT Kochi Allows Promoter of Corporate Debtor MSME to File Resolution Plan in Individual Capacity(07.05.2021)

National Company Law Tribunal, Kochi has held that the promoter of an MSME can submit a Resolution Plan Application in his individual capacity, and th.....

Tags : National Company Law Tribunal, Filing of Resolution Plan

SC Issues Notice on NCLT Bar Association's Petition Challenging MCA Notification(06.04.2022)

Supreme Court has issued notice in a writ petition that seeks to change the term of 3 years fixed by a notification issued by the Ministry for the mem.....

Tags : Supreme Court, 3 years, National Company Law Tribunal, 5 years, Section 408 of the Companies Act, 2013

NCLT Extends Limitation Period in Pursuance of Supreme Court Orders(25.03.2020)

National Company Law Tribunal (NCLT) has issued a notice intimating all the litigants that the extension of limitation period granted by the Supreme C.....

Tags : National Company Law Tribunal, Extension of Limitation

NCLAT, Delhi: Operational Creditor is At Liberty to File Legal Proceedings to Recover Claims(21.02.2022)

National Company Law Appellate Tribunal (NCLAT), Delhi has held that the Operational Creditor is at liberty to file appropriate legal proceedings to r.....

Tags : National Company Law Appellate Tribunal, Operational Creditor

Bombay HC Sets Aside Show Cause Notice Against Bombay Dyeing Company(21.02.2022)

Bombay High Court has set aside a show-cause notice issued 15 years back against Bombay Dyeing and Manufacturing Company Limited, observing that a par.....

Tags : Bombay High Court, Bombay Dyeing Company

NCLAT: Penalty Can Only be Under IBC Code and Not Companies Act Before Adjudicating Authority(22.02.2022)

National Company Appellate Law Tribunal has held that when proceedings before the Adjudicating Authority are being carried out under the Insolvency an.....

Tags : National Company Appellate Law Tribunal, Proceedings Before Adjudicating Authority

NCLT, Kochi: Entry in Balance Sheet Amounts to Acknowledgment of Liability(23.02.2022)

National Company Law Tribunal, Kochi has reiterated that acknowledgement of debt in the balance sheet of the Corporate Debtor comes within the meaning.....

Tags : National Company Law Tribunal, Entry in Balance Sheet

ITAT, Chennai Allows Loss on Investment in Subsidiary Company as Business Loss(23.02.2022)

Income Tax Appellate Tribunal (ITAT), Chennai has allowed the loss on investment made in subsidiary company for increasing business expediency to be w.....

Tags : Income Tax Appellate Tribunal, Loss on Investment in Subsidiary Company

Bombay HC Orders Insurance Company To Pay Rs 38 lakh With 9% Interest to Family of Deceased Engineer(25.08.2015)

Bombay High Court has ordered insurance company to pay around Rs 38 lakh, along with 9% interest to wife, son and widowed mother of deceased victim, a.....

Tags : Bombay High Court,Insurance Company

NCLAT Upholds Insolvency Proceedings Against Housing Development & Infrastructure Ltd.(21.07.2020)

National Company Law Appellate Tribunal (NCLAT) has upheld the order against the real estate giant, Housing Development & Infrastructure Limited (HDIL.....

Tags : National Company Law Appellate Tribunal, Housing Development & Infrastructure Limited

SC: Appeal to NCLAT Shall Be Filed Within Period of 30 Days(13.05.2022)

Supreme Court has reiterated that an appeal against the order of National Company Law Tribunal (NCLT) shall be filed before the NCLAT within a period.....

Tags : Supreme Court, National Company Law Tribunal , thirty days, fifteen days

NCLAT, Delhi: Arrears of Salary Accumulated for More Than Three Years Are Not Eligible for CIRP(13.05.2022)

National Company Law Appellate Tribunal, New Delhi has ruled that arrears of salary due beyond a period of three years would be barred by limitation f.....

Tags : National Company Law Appellate Tribunal, three years, Corporate Insolvency Resolution Process, limitation

NCLAT: NCLT Doesn't Have Power to Classify Transaction As Preferential Transaction(16.05.2022)

National Company Law Appellate Law Tribunal, has observed that NCLT does not have the power to suo-moto classify a transaction as a Preferential Trans.....

Tags : National Company Law Appellate Law Tribunal, Section 44, Insolvency and Bankruptcy Code, 2016, Preferential Transaction

NCLAT: Salary Incrementation is Valid by Employment Agreement or Board Resolution(16.05.2022)

National Company Law Appellate Tribunal, (NCLAT) has observed that salary incrementation is valid only by an employment agreement or board resolution .....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9

NCLT Cancels Summer Vacation 2020 for All Its Benches(06.05.2020)

National Company Law Tribunal has cancelled the Summer Vacation, 2020 for all its benches, in view of loss of work due to the lockdown.

Tags : National Company Law Tribunal, Summer Vacations

NCLT Refuses Petition Against India Steel(11.05.2020)

National Company Law Tribunal has refused to admit an insolvency Petition filed by India Resurgence Asset Reconstruction Company, a joint venture betw.....

Tags : National Company Law Tribunal, India Steel

NCLT: Filing of Default Record Necessary for Section 7 IBC Filings(13.05.2020)

National Company Law Tribunal has directed filing of default record from Information utility along with new Petitions under Section 7 of the Insolvenc.....

Tags : National Company Law Tribunal, Filing of Default Record

NCLAT, Delhi: Fresh Resolution Plan Cannot be Considered by Committee of Creditors(25.04.2022)

National Company Law Appellate Tribunal (NCLAT), Delhi has held that a fresh resolution plan cannot be considered by a Committee of Creditors (COC) on.....

Tags : National Company Law Appellate Tribunal, Fresh Resolution Plan

NCLAT, Delhi: Amount Given as Share Application Money is Not Covered Under Financial Debt(25.04.2022)

National Company Law Appellate Tribunal (NCLAT) , Delhi has held that money given as Share Application Money cannot be treated as a financial debt in .....

Tags : National Company Law Appellate Tribunal, Share Application Money

NCLT Cuttack: CIRP Can’t be Initiated Over Undecided Claims or Unstamped Agreements(26.04.2022)

National Company Law Tribunal, Cuttack has ruled that Corporate Insolvency Resolution Process cannot be initiated based on undecided claims and/or uns.....

Tags : National Company Law Tribunal, Corporate Insolvency Resolution Process, compulsory registration

NCLAT, Delhi: Time Period Under Regulation 35A is Directory, Not Mandatory(27.04.2022)

National Company Law Appellate Tribunal, has observed that period of time prescribed under Regulation 35A of the IBBI (Insolvency Resolution Process f.....

Tags : National Company Law Appellate Tribunal, Regulation 35A, IBBI (Insolvency Resolution Process for Corporate Persons) (CIRP) Regulations, 2016

National Company Law Tribunal Asks Astro to Not to Exit AskMe for 6 Weeks(31.08.2016)

National Company Law Tribunal has asked Astro Entertainment Networks Ltd not to exit e-commerce website AskMe.com, in which it is an investor, for six.....

Tags : National Company Law Tribunal, Astro Entertainment Networks Ltd

NCLAT, New Delhi Dismisses NOIDA Appeal Against Order Directing Participation in CIRP Process(09.03.2022)

National Company Law Appellate Tribunal, New Delhi has dismissed the Appeal preferred by New Okhla Industrial Development Authority (NOIDA) against th.....

Tags : National Company Law Appellate Tribunal, Participation in CIRP Process

NCLT, New Delhi: Proceedings u/s 95 IBC Shall Abate on Death of Personal Guarantor(11.03.2022)

National Company Law Tribunal, New Delhi has rejected an application filed by the Financial Creditor under Section 95 of the Insolvency and Bankruptcy.....

Tags : National Company Law Tribunal, Death of Personal Guarantor

Allahabad HC: Director Not Involved in Day-to-Day Affairs of Company Cannot be Prosecuted(11.03.2022)

Allahabad High Court has held that a director, who is not involved in the day to day affairs of a company, cannot be prosecuted for the offence under .....

Tags : Allahabad High Court, Day-to-Day Affairs of Company

NCLAT: Failure to Reply to Demand Notice Does Not Preclude Corporate Debtor from Raising Dispute(15.03.2022)

National Company Law Appellate Tribunal has held that the mere fact that the corporate debtor did not reply to the demand notice by the Operational Cr.....

Tags : National Company Law Appellate Tribunal, Failure to Reply to Demand Notice

National Company Law Tribunal Approves Plan to Revive Defunct Jet Airways(23.06.2021)

National Company Law Tribunal has approved a plan to revive the defunct Jet Airways submitted by the United Kingdom’s Kalrock Capital and the UAE-base.....

Tags : National Company Law Tribunal, Jet Airways

NCLT, Mumbai Directs Reliance Home Finance to Repay Dues to NCD Holders(25.06.2021)

National Company Law Tribunal, Mumbai has directed Reliance Home Finance Ltd (RHFL) to repay its debt obligations to 19,000 non-convertible debenture .....

Tags : National Company Law Tribunal, Reliance Home Finance

National Company Law Tribunal, Mumbai Orders Liquidation of Nakshatra World(29.06.2021)

National Company Law Tribunal (NCLT), Mumbai has ordered the liquidation of Nakshatra World, a subsidiary of Gitanjali Gems, one of the group companie.....

Tags : National Company Law Tribunal, Nakshatra World

NCLAT Declines Plea Challenging Order Approving Piramal Bid for DHFL(29.06.2021)

National Company Law Appellate Tribunal has declined a plea by US-based Prudential International Insurance Holdings Ltd challenging a National Company.....

Tags : National Company Law Appellate Tribunal, Prudential International Insurance Holdings Ltd

NCLT, Chennai: No Conflict Among Prohibition of Benami Property Transaction Act and IBC, 2016(06.05.2022)

National Company Law Tribunal, Chennai has ruled that there is no conflict between the Prohibition of Benami Property Transaction Act, 1988 and the In.....

Tags : National Company Law Tribunal, Prohibition of Benami Property Transaction Act, 1988, Insolvency and Bankruptcy Code, 2016, attachment of property

NCLAT: No Bar in Pendency of Execution Proceedings u/s 9 IBC(07.04.2022)

National Company Law Appellate Tribunal has observed that the pendency of an execution petition does not bar the operational creditor from filing a pe.....

Tags : National Company Law Appellate Tribunal, execution petition, Section 9 of the Insolvency and Bankruptcy Code, 2016

NCLAT Delhi: Resolution Professional Cannot Decide Eligibility Under Section 29A IBC(07.04.2022)

National Company Law Appellate Tribunal has observed that the Resolution Professional is not required to take a decision in regard to the ineligibili.....

Tags : National Company Law Appellate Tribunal, Resolution Professional, Section 29A of the Insolvency & Bankruptcy Code, 2016, Resolution Applicant

NCLT, Bengaluru Dismisses Insolvency Petition Against Café Coffee Day(07.04.2022)

National Company Law Tribunal, Bengaluru has dismissed the insolvency petition filed against the parent company of Cafe Coffee Day namely Coffee Day G.....

Tags : National Company Law Tribunal, parent company, Cafe Coffee Day, Coffee Day Global Limited, Cooperative Rabobank U.A

Delhi HC: Breach of Contract u/s 74 Not Applicable at Pre-Formation Stage(07.04.2022)

Delhi High Court has admitted a writ petition that seeks refund of bid security paid by Indian Hotels Company Limited (IHCL) and has dismissed the all.....

Tags : Delhi High Court, bid security, Indian Hotels Company Limited, pre-formation stage, breach of contract

NCLT, Kolkata: Corporate Debtor Cannot Be Sent Into Liquidation(08.04.2022)

National Company Law Tribunal, Kolkata has observed that just because the liquidation value is being projected higher than the value of the resolutio.....

Tags : National Company Law Tribunal, liquidation value, resolution plan, Corporate Debtor, liquidation

NCLT, Kolkata: IRP Against Legal Heirs of Personal Guarantor by Financial Creditor Not Permissible(11.04.2022)

National Company Law Tribunal, Kolkata has held that the application is not maintainable against legal heirs of the Personal Guarantor under the Insol.....

Tags : National Company Law Tribunal, Financial Creditor, Personal Guarantor, Bank of Baroda

NCLAT, Delhi: Time Period Under Regulation 35A is Directory, Not Mandatory(27.04.2022)

National Company Law Appellate Tribunal, has observed that period of time prescribed under Regulation 35A of the IBBI (Insolvency Resolution Process f.....

Tags : National Company Law Appellate Tribunal, Regulation 35A, IBBI (Insolvency Resolution Process for Corporate Persons) (CIRP) Regulations, 2016

Calcutta HC: Electricity Distribution Company Can Install Electric Poll on Private Land(28.04.2022)

Calcutta High Court has observed that West Bengal State Electricity Distribution Company Limited has the right to install electric polls on private la.....

Tags : Calcutta High Court, West Bengal State Electricity Distribution Company Limited, electric connection

NCLAT: Interest Free Security Deposit is an Operational Debt(28.04.2022)

National Company Law Appellate Tribunal has observed that an interest free security deposit towards advance license fee will qualifies as an operation.....

Tags : National Company Law Appellate Tribunal, interest free, security deposit, Insolvency & Bankruptcy Code, 2016

NCLAT: Territorial Jurisdiction Cannot be Taken Away by Agreement Between Parties(28.04.2022)

National Company Law Appellate Tribunal has observed that the territorial jurisdiction of NCLT to decide a case under the Insolvency and Bankruptcy Co.....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, territorial jurisdiction

NCLAT: Resolution Professional Can Submit An Additional Report Under Section 99 I&B Code(29.04.2022)

National Company Law Appellate Tribunal has observed that the Resolution Professional can submit an additional report under Section 99 of the Insolven.....

Tags : National Company Law Appellate Tribunal, Section 99, Insolvency & Bankruptcy Code, 2016

NCLAT: If Credit Facility Agreement is Unstamped, Petition U/S Section 7 is Maintainable(29.04.2022)

National Company Law Appellate Tribunal has observed that if a credit facility agreement is unstamped, then petition under Section 7 of the Insolvency.....

Tags : National Company Law Appellate Tribunal, credit facility, Section 7, Insolvency and Bankruptcy Code, 2016

NCLT Dismisses Mistry’s Contempt Plea Against Tata Sons(19.01.2017)

National Company Law Tribunal (NCLT) has dismissed contempt plea filed by Cyrus Mistry's family firms against Tata Sons but gave Former Chairman an op.....

Tags : National Company Law Tribunal, Cyrus Mistry, Tata Sons, Contempt Plea

Supreme Court Extends Free Ride On DND Expressway For Eight Weeks(23.01.2017)

Supreme Court, while extending free ride on Delhi-Noida DND flyway for another eight weeks, has given two more months time to Comptroller and Auditor .....

Tags : Supreme Court, DND Expressway, Toll, Noida Toll Bridge Company

Form INC-1 No More Valid, MCA Advises to Use RUN / SPICe Form for Company Incorporation(31.01.2018)

Ministry of Corporate Affairs has announced that the Form INC-1 for which no incorporation forms were filed before 17th January has been expired. The .....

Tags : Company Incorporation

Form INC-1 No More Valid, MCA Advises to Use RUN / SPICe Form for Company Incorporation(31.01.2018)

Ministry of Corporate Affairs has announced that the Form INC-1 for which no incorporation forms were filed before 17th January has been expired. The .....

Tags : Company Incorporation

Insurance Company can't Unilaterally Delete Policy Terms to Reduce Coverage: SC(01.02.2019)

Supreme Court has quashed the action of New India Assurance Company Ltd. in unilaterally deleting policy terms to reduce coverage and also held that a.....

Tags : Supreme Court, Insurance Company

NCLT, Mumbai Approves Reliance Jio;s Resolution Plan for Reliance Infratel(04.12.2020)

National Company Law Tribunal (NCLT), Mumbai has approved Reliance Jio’s resolution plan for the bankrupt Reliance Infratel.

Tags : National Company Law Tribunal, Reliance Jio

Guj. HC: Electricity Co. Doesn’t Require Landowner's Consent for Laying Overhead Transmission Lines(10.08.2022)

Gujarat High Court has held that an electricity company does not require the consent of a private landowner to lay overhead high tension transmission .....

Tags : Gujarat High Court, Transmission Lines, Compensation, Electricity Company

Uttarakhand High Court Orders Ramdev Company to Share Profits with Locals(29.12.2018)

Uttarakhand High Court has directed a company run by yoga guru Ramdev to share a percentage of its profits with local farmers and communities.

Tags : Uttarakhand High Court, Ramdev Company, Share Profits with Locals

AP High Court Vacates Stay on Genco’s Pre-closure Order(01.11.2019)

Andhra Pradesh High Court has vacated the stay imposed by it on the order given by APGenco for termination of the Polavaram hydel power plant contract.....

Tags : Andhra Pradesh High Court, APGenco, Navayuga Engineering Company Limited

Bombay HC: NCLT Has No Jurisdiction to Examine Legality of Action Taken Under MPID Act(23.11.2020)

Bombay High Court has held that the National Company Law Tribunal has no jurisdiction to examine the legality or validity of action taken under the Ma.....

Tags : Bombay High Court, National Company Law Tribunal, Jurisdiction

ITAT, Mumbai: Company Granting Bonus to Employees or Shareholder Entitled to Tax Benefits(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the company which is granting bonuses to its employees or shareholders is entitled to tax b.....

Tags : Income Tax Appellate Tribunal, Company Granting Bonus

NCLT: Indemnity of Obligations Under an Agreement Is Not 'Financial Debt' Under IBC(14.10.2022)

National Company Law Tribunal, Mumbai while adjudicating an application has observed that indemnity of the obligations under the Agreement is not a 'f.....

Tags : National Company Law Tribunal, financial debt, indemnity, Agreement

NCLAT: COC's Decision For Liquidation Is Open To Judicial Review By NCLT And NCLAT(19.10.2022)

National Company Law Appellate Tribunal, Delhi has ruled that when the Committee of Creditors (CoC) decides to liquidate the Corporate Debtor, the dec.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Corporate Debtor, liquidation

Madras HC Orders Insurance Company to Implement Centre's Circular Regarding Women Employees’ Transfer(14.12.2015)

Madras High Court has ordered Chairman of National Insurance Company to implement circular issued by Centre directing insurance companies to post/tran.....

Tags : Madras High Court, National Insurance Company , women employees

NCLAT Sets Aside Plea to Initiate Insolvency Proceedings Against Intex Technologies(30.10.2019)

National Company Law Appellate Tribunal (NCLAT) has dismissed a plea to initiate insolvency proceedings against smartphone and mobile accessories make.....

Tags : National Company Law Appellate Tribunal, Intex Technologies India Ltd.

SC: Mere Delay in Intimating Insurance Company of Occurrence of Theft Not Grounds to Deny Claim(20.09.2021)

Supreme Court has observed that mere delay in intimating the insurance company about the occurrence of the theft cannot be a ground to deny the insura.....

Tags : Supreme Court, Delay in Intimating Insurance Company

NCLAT: 'Success Fees' is of Contingent and Speculative Nature; Not a Part of IBC(23.09.2021)

National Company Appellate Law Tribunal has held that 'success fees' which is more in the nature of contingency and speculative, is not a part of the .....

Tags : National Company Appellate Law Tribunal, Success Fees

Delhi HC Delineates Circumstances to Invoke Group of Companies Doctrine(11.10.2022)

Delhi High Court has held each Company is a separate legal entity, hence, an agreement entered into by one of the Companies in a group, cannot be bind.....

Tags : Delhi High Court, Group of Company, Arbitration Agreement

NCLT Refuses to Stay Rebidding for Essar(28.03.2018)

National Company Law Tribunal has declined to stay the second round of bidding for the bankrupt Essar Steel or defer the deadline for it as sought by .....

Tags : National Company Law Tribunal

SC Stays Delhi HC’s Direction to Insurance Company to Provide Life-Time Warranty on Prosthetic Limbs(11.02.2021)

Supreme Court has issued notice in a plea filed challenging the Delhi High Court's order directing the Insurance Company to provide a life time warran.....

Tags : SC, Insurance Company

NCLAT Refuses to Entertain Devas Shareholder's Appeal Against Order Appointing Liquidator(15.02.2021)

National Company Law Appellate Tribunal(NCLAT), Chennai has refused to entertain an appeal filed by Devas Mauritius Employees Private Ltd - a sharehol.....

Tags : National Company Law Appellate Tribunal, Devas Multimedia Private Ltd., Antrix Corporation Ltd

SC Directs Bajaj Allianz to Come Up with Draft Guidelines for Compensation Disbursement Process(15.02.2021)

Supreme Court has directed the Bajaj Allianz General Insurance Company, to come up with draft guidelines for facilitating compensation disbursement pr.....

Tags : Supreme Court, Bajaj Allianz General Insurance Company, Compensation Disbursement Process

NCLT Directs Indiabulls Real Estate to Discuss Embassy Merger with Shareholders(27.12.2021)

National Company Law Tribunal (NCLT) has directed realty developer Indiabulls Real Estate to convene a meeting of its shareholders to discuss and seek.....

Tags : National Company Law Tribunal, Merger of Indiabulls with Embassy Group

NCLAT to Google: Deposit 10% of Penalty as Interim Measure(06.01.2023)

National Company Law Appellate Tribunal (NCLAT), Principal Bench while adjudicating an appeal filed in Google LLC & Anr. v CCI, has admitted Google’s .....

Tags : National Company Law Appellate Tribunal, Google, CCI, Penalty

NCLT, Mumbai: Co-Operative Society Is Not a Corporate Person Under IBC(14.02.2022)

National Company Law Tribunal, Mumbai has dismissed an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Sangola T.....

Tags : National Company Law Tribunal, Co-Operative Society

NCLAT, Delhi: Order of Mediation Along with Dishonoured Cheques Not Extension of Limitation(14.02.2022)

National Company Law Appellate Tribunal, Delhi has held that an order of mediation along with dishonoured cheques does not imply an extension of limi.....

Tags : National Company Law Appellate Tribunal, Extension of Limitation

NCLT, Mumbai: Pre-requisite of Notice to Personal Guarantor Satisfied on Service as Per Form B(15.02.2022)

National Company Law Tribunal, Mumbai has admitted the application filed by the Union Bank of India/Financial Creditor under Section 95 of the Insolve.....

Tags : National Company Law Tribunal, Pre-requisite of Notice

NCLAT, Delhi: After Adoption Of Swiss Challenge Method, RA Not Allowed To Submit Revised Plan(27.01.2023)

National Company Law Appellate Tribunal while adjudicating an appeal filed in Jindal Stainless Ltd. v Mr. Shailendra Ajmera & Anr., has observed that .....

Tags : National Company Law Appellate Tribunal, Resolution, adoption

NCLAT, Chennai: No Condonation Beyond 45 Days, IBC Overrides Limitation Act(27.01.2023)

National Company Law Appellate Tribunal, Chennai ruled that Section 238 of Insolvency & Bankruptcy Code, 2016 overrides Section 12 of the Limitation A.....

Tags : National Company Law Appellate Tribunal, condone

Hyderabad High Court Directs Auction of Agrigold Assets(28.12.2015)

Hyderabad High Court has directed to sell the assets of Agrigold company for returning the customers’ money.

Tags : Hyderabad High Court, Agrigold company

CCI Permits Union Bank's 49% Stake Buy in Union KBC AMC(31.12.2015)

Central Information Commission (CIC)has approved Union Bank of India's proposed acquisition of 49 per cent stake in Union KBC Asset Management Company.....

Tags : Central Information Commission , Union KBC Asset Management Company

Delhi HC Upholds Vires Of Section 4(b) of Sick Industrial Companies (Special Provisions) Repeal Act(08.12.2017)

Delhi High Court has upheld the constitutional validity of Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003.

Tags : Delhi High Court , Company Law

NCLAT Turns Down Reference Seeking Re-Consideration of Decision in V. Padamakumar Case(23.12.2020)

National Company Law Appellate Tribunal has turned down a reference made by a three-member Bench, seeking re-consideration of the decision in V. Padam.....

Tags : National Company Law Appellate Tribunal, V. Padamakumar v. Stressed Assets Stabilization Fund (SASF) & Anr.

NCLAT: Liability of Personal Guarantor Survives Even on Becoming Citizen of Foreign Country(02.08.2022)

National Company Law Appellate Tribunal (NCLAT), New Delhi Bench has held that liability of Personal Guarantor doesn’t extinguishes upon subsequent ac.....

Tags : National Company Law Appellate Tribunal, Personal Guarantor, Foreign Citizenship

SC: Only Person Responsible for the Conduct of Company’s Business is Liable for Dishonour of Cheque(11.10.2023)

Supreme Court has held that only that person who, at the time the offence was committed, was in charge and responsible to the company for the conduct .....

Tags : Supreme Court, Dishonour of Cheque, Company

NCLAT Directs Partial Temporary Relaxation on Physical Filing Due to Surge in Covid 19 Cases(25.05.2021)

National Company Law Appellate Tribunal has directed partial temporary relaxation in physical filing as per its earlier Standard Operating Procedure d.....

Tags : National Company Law Appellate Tribunal, Partial Temporary Relaxation on Physical Filing

NCLT, Bengaluru Orders Forcible Liquidation and Winding Up of Devas Multimedia(27.05.2021)

National Company Law Tribunal, Bengaluru has ordered the forcible liquidation and winding up of Devas Multimedia by allowing a petition filed Indian S.....

Tags : National Company Law Tribunal, Winding Up of Devas Multimedia

NCLAT, Delhi: Quantum of Debt Not to be Decided At Stage of Admission of S. 7 IBC Application(18.04.2022)

National Company Law Appellate Tribunal, Delhi has observed that the quantum of debt is not to be considered at the stage of admission of a petition u.....

Tags : National Company Law Appellate Tribunal, Section 7 of the Insolvency and Bankruptcy Code, 2016, admission

SC: ‘De Facto Control’ Test Relevant to Determine if Company is Resident in India(12.04.2023)

Supreme Court while observing that domicile or registration of company are not relevant test to determine if company is resident of India, has held th.....

Tags : Supreme Court, De Facto Control, Resident, Company

NHRC Issues Notice to Centre Over Anti-Labour Practices at a Warehouse of a Multi-National Company(20.06.2024)

National Human Rights Commission (NHRC) has issued a notice to Centre over anti-labour practices at one of the ware-houses of a multi-national company.....

Tags : NHRC, Anti-Labour Practices, Multi-National Company

Delhi HC Restrains UK-based Portal From Copying Contents of OLX(27.12.2016)

Delhi High Court has permanently restrained a UK-based online classifieds company and its website from copying material and contents of OLX, an Indian.....

Tags : Delhi HC, OLX, classifieds company

NCLAT: Registration of Vehicle Does Not Qualify As Registered ‘Charge’ for Valid Claim(30.10.2020)

National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal filed by Volkswagen Finance Pvt Ltd against an order of the National Company L.....

Tags : National Company law Appellate Tribunal, Registration of Vehicle

NCLT Allows Initiation of Personal Insolvency Against Venugopal Dhoot(02.09.2021)

National Company Law Tribunal (NCLT), Mumbai has admitted a personal insolvency petition against Videocon promoter Venugopal Dhoot just a day after th.....

Tags : National Company Law Tribunal, Venugopal Dhoot

NCLT Dismisses Cyrus Mistry’s Plea to Transfer Case Against Tata Sons(09.10.2017)

National Company Law Tribunal (NCLT) has dismissed a petition moved by Cyrus Mistry’s firms seeking transfer of their company petition against Tata So.....

Tags : National Company Law Tribunal, Tata Sons

SC: Duty of the Insurance Company to Disclose All Material Facts Within Their Knowledge(09.08.2023)

Supreme Court has observed that it is the duty of the insurance company to disclose all material facts within their knowledge since the obligation of .....

Tags : Supreme Court, Insurance Company, Good Faith

Delhi HC Dismisses Tax Appeals Against Moser Baer in View of Liquidation Proceedings(12.04.2022)

Delhi High Court has dismissed the appeals against Moser Baer, filed by the income tax department in the light of the liquidation proceedings pending .....

Tags : Delhi High Court, Moser Baer, Liquidation Proceedings, income tax department, National Company Law Tribunal

NCLT, Kolkata: IRP Cannot be Maintained Against Legal Heirs of Personal Guarantor(12.04.2022)

National Company Law Tribunal, Kolkata has held that insolvency resolution process cannot be maintained against the legal heirs of the personal guaran.....

Tags : National Company Law Tribunal, Insolvency Resolution Process, legal heirs, Personal Guarantor

NCLAT: Resolution Professional Cannot Withhold Any Plan and Refuse to Submit Before CoC(12.04.2022)

National Company Law Appellate Tribunal, has observed that Resolution Professional of its own cannot withhold any plan and reject to submit the same b.....

Tags : National Company Law Appellate Tribunal, Resolution Professional, Committee of Creditors

NCLAT: Mere Error of Address in Postal Receipt Does not Bely Sending of Notice(13.04.2022)

National Company Law Appellate Tribunal has observed that mere address error in Postal Receipt does not bely the sending of notice by Operational Cred.....

Tags : National Company Law Appellate Tribunal, Postal Receipt

J&K: Insurance Company Bound to Pay the Claim Against the Sum Insured(18.10.2024)

J&K High Court has observed that the Insurance Company is bound to pay the claim against the sum insured. It is not the business of the Insurance Comp.....

Tags : J&K High Court, Insurance Company, Sum Insured

NCLAT: Payment of Lease Amount, Rent & Premium Arising During CIRP Cannot Be Considered as CIRP Costs(28.10.2024)

The National Company Law Appellate Tribunal (NCLAT) has observed that the payment of lease amount, lease rent and premium arising during CIRP cannot b.....

Tags : National Company Law Appellate Tribunal, CIRP Cost, Section 14, Insolvency and Bankruptcy Code, 2016

Converting Company to LLP is a ‘Transfer’: ITAT(07.12.2018)

Income Tax Appellate Tribunal (ITAT) has held that the conversion of a company into an LLP constitutes a “transfer” for the purpose of the Income Tax .....

Tags : ITAT, Converting Company to LLP

SC: NCLAT Has No Jurisdiction to Condone Delay Exceeding 15 Days From Period Of 30 Days(15.09.2021)

Supreme Court observed that the National Company Law Appellate Tribunal (NCLAT) has no jurisdiction to condone the delay exceeding 15 days from the pe.....

Tags : Supreme Court, National Company Law Appellate Tribunal, Condonation of Delay

Cal. HC: Cheating Case Against Directors Can’t Survive w/o Impleading Company(12.09.2023)

Calcutta High Court has held that when the agreement was entered into by and between the companies, criminal proceedings in a cheating case can’t surv.....

Tags : Calcutta High Court, Directors, Impleading Company

NCLAT Seeks Clarity from Government and Agencies on JSW Steel Ltd Immunity(14.01.2020)

National Company Law Appellate Tribunal has directed the Enforcement Directorate and other investigative agencies to clarify whether JSW Steel Ltd wou.....

Tags : National Company Law Appellate Tribunal, JSW Steel Ltd., Immunity

Supreme Court Allows Vedanta Limited to Bid for National Aluminium Company Limited’s Alumina Tenders(15.01.2020)

Supreme Court has allowed Vedanta Limited to bid for alumina tenders by National Aluminium Company Limited (NALCO). The Court said that Vedanta Limite.....

Tags : Supreme Court, Vedanta, National Aluminium Company Limited

MCA Notifies Procedure for Disposal of Application for Conversion of Public Company into Private(27.01.2021)

Ministry of Corporate Affairs (MCA) has notified the procedure for disposal of application for conversion of a public company into private in case of .....

Tags : Ministry of Corporate Affairs, Disposal of Application for Conversion of Public Company to Private

SC: Insurance Co. Not Liable if Claimant Was Travelling In Un-Insured Trailer(31.08.2023)

Supreme Court has held that liability cannot be fastened on the Insurance Company when the claimant was travelling in the trailer which was not insure.....

Tags : Supreme Court, Insurance Company, Tractor, Liability

NCLT Benches to Resume Physical Hearing from March 1(24.02.2021)

National Company Law Tribunal (NCLT) has decided to resume physical hearing of cases filed before it from 1st March, 2021. However, if any party expre.....

Tags : National Company Law Tribunal, Physical Hearing

Karnataka HC Set Aside Criminal Case against Founders of Unocoin Company(02.03.2021)

Karnataka High Court set aside the criminal case against founders namely B V Harish and Sathvik Vishwanath of Unocoin company for setting up a Bitcoin.....

Tags : Karnataka High Court, Unocoin Company

Ker HC: Requirement to Intimate Transfer of Vehicle to Insurance Company Under MV Act Only Directory(01.11.2022)

Kerala High Court has held that provision under Section 157(2) of Motor Vehicles (MV) Act, 1988 to intimate about the transfer of a vehicle to the Ins.....

Tags : Kerala High Court, Motor Vehicles, Insurance Company

Titanium Company Scam: Kerala High Court Orders CBI Investigation(16.11.2023)

Kerala HC has directed the Central Government to order the CBI to investigate the corruption allegations involving high officials of Titanium Company .....

Tags : Kerala HC , CBI , Titanium Company , Metallurgical & Engineering Consultants (India) Limited

Gujarat HC Issues Notice to GIFT City(17.02.2016)

Gujarat HC has issued a notice to Gujarat Internat-ional Finance Tec-City Company (GIFT City) after hearing a public interest litigation (PIL) that a.....

Tags : Gujarat HC , Gujarat Internat-ional Finance Tec-City Company

NCLT Rejects Plea Seeking Stay on TATA’s EGM on Feb 06(01.02.2017)

National Company Law Tribunal (NCLT) has refused to grant a stay on Tata Sons’ decision to call an Extraordinary General Meeting (EGM) on February 6, .....

Tags : National Company Law Tribunal, Tata Sons, Extraordinary General Meeting

Job Experience as Assistant Company Secretary can't be Treated as That of Company Secretary: SC(07.02.2019)

Supreme Court has observed that Job Experience as Assistant Company Secretary or a Management Trainee cannot be treated 'as' that of a Company Secreta.....

Tags : Supreme Court, Company Secretary'

SC: Insurance Company Cannot Raise Delay as Basis for Repudiation First Time Before Consumer Forum(24.12.2019)

Supreme Court has observed that an Insurance Company cannot raise delay as a ground for repudiation for the first time before Consumer Forum if it has.....

Tags : SC, Insurance Company

NCLT, Kochi Allows Reduction of Paid Up Share Capital Structure of Josco Jewellers Pvt. Ltd.(12.01.2021)

National Company Law Tribunal, Kochi has allowed a company petition filed by Josco Jewellers Pvt. Ltd. for reduction of its share capital from Rs. 120.....

Tags : National Company Law Tribunal, Josco Jewellers Pvt. Ltd.

Supreme Court: Directors of Company Not Liable For Dishonor of Cheque After Their Retirement(16.02.2024)

Supreme Court has observed that the Director of a company cannot be held liable for the dishonor of a cheque after his retirement, which has been issu.....

Tags : Supreme Court, Dishonor of Cheque, Directors of Company

NCLAT: Successful Bidder Cannot be Permitted to Wriggle Out of Bid Claiming Conditional Offer(17.01.2022)

National Company Law Appellate Tribunal has held that a Successful Bidder cannot wriggle out of the contractual obligations and withdraw the bid after.....

Tags : National Company Law Appellate Tribunal, Successful Bidder

Kerala HC: Directors of Company Cannot be Implicated Without Specific Averments(17.01.2022)

Kerala High Court has ruled that Directors of a company cannot be implicated without specific averments indicating their role in the offence, particul.....

Tags : Kerala High Court, Directors of Company

Cal. HC: Object of S. 60(2) IBC is to Group Together CIRP Proceedings Before Single Forum(21.12.2022)

Calcutta High Court has held that object of Section 60(2) of IBC 2016 is to group together CIRP of corporate debtor and insolvency liquidation proceed.....

Tags : Calcutta High Court, IBC, CIRP, National Company Law Tribunal

NCLAT: Goods Lying in Customs Bonded Warehouses Can’t be Assets of Corporate Debtor(06.12.2021)

National Company Law Appellate Tribunal (NCLAT), New Delhi has held that goods lying in the Customs bonded warehouses cannot be considered assets of t.....

Tags : National Company Law Appellate Tribunal, Goods Lying in Customs Bonded Warehouses

Bom. HC: Company Can’t be Compelled to Run Because of Possible Unemployment of Workers(12.01.2024)

Bombay High Court has held that if a Company approaches the Court for closure of its establishment on the ground of accumulated losses in accordance w.....

Tags : Bombay High Court, Company, Unemployment, Workers

NCLAT: AA Can Consider Any Application Arising Out Of Sale In Liquidation(19.10.2022)

National Company Law Appellate Tribunal, Delhi has observed that the Adjudicating Authority (AA) is empowered to consider any application filed by the.....

Tags : National Company Law Appellate Tribunal, Liquidator, Auction, Adjudicating Authority

NCLT Delhi Dismisses Plea For Initiation Of CIRP Against Developer(20.10.2022)

National Company Law Tribunal, New Delhi has rejected the petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, holding that if the al.....

Tags : National Company Law Tribunal, allottees, Developer

NCLT, Cuttack: Related Party of Financial Creditor Not Barred U/S 29A To Submit A Resolution Plan(21.10.2022)

National Company Law Tribunal, Cuttack has observed that the Insolvency and bankruptcy Code does not bar a related party of the Financial Creditor fro.....

Tags : National Company Law Tribunal, Financial, Creditor

NCLAT: Adjudicating Authority Can Invoke Inherent Powers To Replace The Liquidator(21.10.2022)

National Company Law Appellate Tribunal has held that the Adjudicating Authority can invoke its inherent powers to replace the Liquidator and to do s.....

Tags : National Company Law Appellate Tribunal, Liquidator, inherent

NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor

NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor

Bombay HC Issues Notice on Plea for Restoration of Assault FIR Over Breach of Consent Terms(27.01.2022)

Bombay High Court has issued notice to actor Armaan Kohli on his ex-girlfriend's application to restore the case she filed against him in 2018 while a.....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor

NCLT Rebukes SBI for "Lackadaisical Approach"(29.06.2018)

National Company Law Tribunal’s Mumbai chapter has rebuked State Bank of India for its “lackadaisical approach” in sanctioning a Rs 334 crore loan to .....

Tags : National Company Law Tribunal, SBI

NCLAT Declines to Stay ElectroSteel Steels' Delisting(29.06.2018)

National Company Law Appellate Tribunal (NCLAT) has refused to stay the delisting process of debt-ridden firm ElectroSteel Steel under the resolution .....

Tags : National Company Law Tribunal, ElectroSteel

NCLT, Kochi: Only Debts Under ‘Operational Debt’ Can File Application u/s 9 of IBC(26.03.2021)

National Company Law Tribunal (NCLT), Kochi has ruled that only debts covered under the definition of ‘Operational Debt’ can file an application under.....

Tags : National Company Law Tribunal, Application u/s 9 of IBC

NCLAT: Superseded Director Not Entitled to Notice of CoC Meeting(31.01.2022)

National Company Law Appellate Tribunal has held that there exists a difference between supersession of Directors under the Reserve Bank of India Act,.....

Tags : National Company Law Appellate Tribunal, Superseded Director

SC: Fine Imposed on HIMUDA for Colluding With Pvt. Company to Secure Tender by Deceiving Court(04.04.2024)

SC imposed a fine of Rs. 5 Lakh on Himachal Pradesh Housing and Urban Development Authority (HIMUDA) for colluding with a private company and taking t.....

Tags : Supreme Court, HIMUDA, Tender, Private Company

NCLT, Jaipur: Personal Guarantors of NBFC/FSC Cannot be Proceeded Against Unless Threshold Satisfied(28.02.2022)

National Company Law Tribunal, Jaipur has held that Personal Guarantors of Non-Banking Finance Company/ Financial Services Provider cannot be proceede.....

Tags : National Company Law Tribunal, Personal Guarantors of NBFC/FSC

NCLT, Mumbai: Retired Partner Cannot Initiate Resolution Proceedings to Claim Retirement Dues(02.03.2022)

National Company Law Tribunal, Mumbai has rejected the Section 9 application filed by the Operational Creditor on the ground that a retired partner ca.....

Tags : National Company Law Tribunal, Retired Partner. Retirement Dues

NCLAT, Chennai: Suspended Board of Directors Do Not Have Powers to Appoint Resolution Professional(02.03.2022)

National Company Law Appellate Tribunal, Chennai has held that the suspended Board of Directors has no power under the Insolvency and Bankruptcy Code,.....

Tags : National Company Law Appellate Tribunal, Powers to Appoint Resolution Professional

Supreme Court: Burden to Prove that Insured Suppressed Material Facts is Upon the Insurer(15.04.2024)

Supreme Court has held that if the insurance company repudiates the insurance claim on the ground that the insured had suppressed other policies taken.....

Tags : Supreme Court, Insurance Company, Burden to Prove

NCLAT: 14 Days Timeline to Admit or Reject Case Under IBC a 'Mere Directive'(22.05.2017)

National Company Law Appellate Tribunal (NCLAT) has said that 14-day timeline for rejecting or admitting a case under Insolvency and Bankruptcy Code (.....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code

NCLAT Prepones Summer Vacation from April 26 to May 20(20.04.2021)

National Company Law Appellate Tribunal has modified its calendar for summer vacation of this year in light of the recent surge in Covid-19 cases thro.....

Tags : National Company Law Appellate Tribunal, Preponing of Summer Vacation

NCLT Orders Insolvency Proceedings Against Supertech in Rs. 432 Crore Default Case(28.03.2022)

National Company Law Tribunal (NCLT) has declared Real estate developer Supertech bankrupt by the. The Court has ordered initiation of insolvency proc.....

Tags : National Company Law Tribunal, Supertech

Gau HC: Insurance Co. Not liable to Pay Compensation for Death of Gratuitous Passenger(20.03.2023)

Gauahti High Court has held that Insurance Company is not liable to pay compensation for the death of gratuitous passengers travelling in goods vehicl.....

Tags : Gauahti High Court, Compensation, Gratuitous Passenger, Insurance Company

Del. HC: Order Passed in Favour of Indian Hotels Company Over Use of ‘Ginger’ Trademark(10.05.2024)

Delhi High Court has passed an order in favour of Indian Hotels Company and restrained several fraudulent websites from unauthorisedly using the trade.....

Tags : Delhi High Court, Indian Hotels Company, Ginger, Hotel Bookings

JKL HC: Can’t Attach Vicarious Liability of Officials Unless Statute Specifically Provides So(13.03.2023)

Jammu and Kashmir and Ladakh High Court has observed that when the company is an offender, it is trite position of criminal jurisprudence that no vica.....

Tags : Jammu and Kashmir and Ladakh High Court, Vicarious Liability, Company

President Gives Nod for Ordinance to Amend Companies Act(03.11.2018)

President Ramnath Kovind has given his assent to an ordinance promulgated by government in Companies Act that seeks to promote 'Ease of Doing Business.....

Tags : Company Law Ordinance

NCLAT Upholds Dismissal of Petition Filed During Prohibited Period(24.05.2022)

National Company Law Appellate Tribunal while adjudicating an appeal has upheld that Corporate Insolvency Resolution Process cannot be initiated over .....

Tags : National Company Law Appellate Tribunal, Corporate Insolvency Resolution Process, Insolvency and Bankruptcy

NCLAT: Article 1 of Limitation Act,1963 not Apply to Proceedings Under IB Code, 2016(26.05.2022)

National Company Law Appellate Tribunal (NCLAT) Principal Bench has held that the Article 1 of Limitation Act, 1963 is not applicable to the Petition .....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, Limitation

NCLT: Salary During Notice Period Does Not Fall Within the Definition of 'Operational Debt' Under IBC(26.05.2022)

National Company Law Tribunal, Mumbai Bench has held that salary for purported notice period amounts to specific performance of the appointment letter.....

Tags : National Company Law Tribunal, Operational Debt, Operational Creditor

CCI Orders Enquiry Against A Leading Taxi Aggregator For Predatory Pricing(21.09.2015)

Competition Commission of India (CCI) has ordered an enquiry against a leading taxi aggregator company in India for alleged indulging in predatory pri.....

Tags : Competition Commission of India,taxi aggregator company

NCLT Delhi Seeks Reply of Bhushan Steel's Monitoring Committee on Policy for Retirement(07.08.2020)

National Company Law Tribunal, Delhi has sought response from the Monitoring Committee of Bhushan Power & Steel Limited in relation to its retirement .....

Tags : National Company Law Tribunal, Bhushan Power & Steel Limited

Chhattisgarh HC: Director Cannot Be Prosecuted u/s 138 of Negotiable Instruments Act(30.03.2022)

Chhattisgarh High Court has held that a director could not be charged under Section 138 of the Negotiable Instruments Act, 1881 without the company be.....

Tags : Chhattisgarh High Court, Section 138 of the Negotiable Instruments Act, Company

ITAT, Delhi: Payment to Microsoft for Software Purchase Does Not Amount to Royalty(04.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the assesee, HP Services (Singapore) cannot be taxed for royalty as per the Indo-Singapore Doub.....

Tags : Income Tax Appellate Tribunal, HP Services, Indo-Singapore, Double Taxation Avoidance Agreement, Microsoft company

NCLAT Upholds Imposition of Rs. 1337.76 Crores Penalty on Google by CCI(30.03.2023)

National Company Law Appellate Tribunal has dismissed Google’s appeal against CCI order (MANU/CO/0089/2022) which imposed a penalty of Rs. 1337.76 Cro.....

Tags : National Company Law Appellate Tribunal, Google, CCI, Dominant Position, Abuse

NCLT: Committee of Creditors Are Competent to Revise Approved Fees of Resolution Professional(09.05.2022)

National Company Law Appellate Tribunal has ruled that the Committee of Creditors is fully competent to revise its earlier approval of the fees of the.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Resolution Professional

NCLT, Delhi: NCLT Empowered to Pierce Corporate Veil to Ascertain True Successful Bidder(11.05.2022)

National Company Law Tribunal, New Delhi has held that it has the power to pierce the corporate veil to establish the real successful bidder. The corp.....

Tags : National Company Law Tribunal, corporate personality, legitimate purposes

NCLAT: Threshold of Rs.1 Crore Is Required for Initiation of CIRP(12.05.2022)

National Company Law Appellate Tribunal (NCLAT) has ruled that an application filed after 24.03.2020 under Section 7 of the Insolvency and Bankruptcy .....

Tags : National Company Law Appellate Tribunal, Section 7, Insolvency and Bankruptcy Code, 2016, threshold, One Crore

Contraband Smuggling: Delhi High Court Grants Bail to Trader(31.05.2023)

Delhi HC while granting bail to the owner of the truck from which heroin was intercepted, observed that prima facie he was used as an intermediary wit.....

Tags : Delhi High Court, Shree Balaji Trading Company, Smuggling

NCLAT Chennai: Corporate IRP Can be Resume on Failure of Settlement Agreement(02.05.2022)

National Company Law Appellate Tribunal, Chennai has observed that Corporate Insolvency Resolution Process can be revive/resume in case of failure of .....

Tags : National Company Law Appellate Tribunal, Corporate Insolvency Resolution Process

SC: Valid Reasons for Not Accepting Surveyor’s Report Must be Given by Insurance Company(19.05.2023)

Supreme Court while observing that Surveyor’s Report in a claim for insurance is not final one however satisfactory reasons are given by insurer, has .....

Tags : Supreme Court, Contingent Reasons, Surveyor’s Report, Insurance Company

Del. HC: Can’t Tax Services Provided to Indian Customers for Use of Process by Assessee Company(26.07.2024)

Delhi High Court has held that, for the services provided to Indian customers outside the territory of India in connection with use of process or equi.....

Tags : Delhi High Court, Assessee Company, Royalty

NCLAT: Dissenting Financial Creditor Entitled to Liquidation Value of its Secured Interest only(28.10.2024)

The National Company Law Appellate Tribunal (NCLAT) has observed that as per Section 30(2)(b) of Insolvency and Bankruptcy Code, 2016 (IBC), a dissent.....

Tags : National Company Law Appellate Tribunal, Section 30(2)(b), Insolvency and Bankruptcy Code, 2016

Madras HC: No Law Which Fixes Number of Persons Who Can Appear for/Accompany a Party to Court(08.11.2024)

Madras High Court while dismissing a petition seeking restriction on number of persons appearing and accompanying a VIP litigant, has stated that ther.....

Tags : Madras High Court, Enactment, Accompany

NCLAT: Insolvency Cannot be Initiated on Basis of Unpaid LTC And Leave Encashment Dues(16.05.2022)

National Company Law Appellate Tribunal, has ruled that the welfare claims such as Leave Encashment, superannuation dues are not operational debt for .....

Tags : National Company Law Appellate Tribunal, Leave Encashment, Corporate Debtor, Section 9, Insolvency & Bankruptcy Code, 2016, superannuation dues

NCLAT: Salary Incrementation is Valid by Employment Agreement or Board Resolution(16.05.2022)

National Company Law Appellate Tribunal, (NCLAT) has observed that salary incrementation is valid only by an employment agreement or board resolution .....

Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9

SC: Appeal Under IBC is Valid Only if it is Initiated Within 30 days From Date of Order(17.05.2022)

Supreme Court has ruled that an appeal under the Insolvency and Bankruptcy Code, 2016 (IBC) is only acceptable if it is filed within 30 days from the .....

Tags : Supreme Court, Insolvency and Bankruptcy Code, 2016, 30 days, National Company Law Tribunal

Gauhati High Court Sets Aside CCI Order Imposing Penalty on Cement Company(02.09.2024)

The Gauhati High Court has set aside an order passed by the Competition Commission of India (CCI) imposing a penalty of Rs. 5,00,000 on a Star Cement .....

Tags : Gauhati High Court, Competition Commission of India, Star Cement Company

Insurance Company to be Liable Even if Insurance Policy Not Transferred(17.09.2024)

Allahabad HC has stated that even if the insurance policy of vehicle is not transferred, the insurance company would become liable under the policy to.....

Tags : Allahabad High Court, Insurance Company, Transferee

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