The Competition Commission of India (CCI) approves acquisition of the share capital of NSPIRA Management Services Private Limited by Mr. Puneet Kothapa, Ms. Ponguru Sindhura and Ms. Ponguru Sharani under Section 31(1) of the Competition Act, 2002. The proposed combination pertains to acquisition by Mr. Puneet Kothapa, Ms. Ponguru Sindhura and Ms. Ponguru Sharani (collectively referred to as the Acquirers), for the acquisition of, inter alia, (i) 18.23% of the total issued and paid up share capital (fully diluted basis) of NSPIRA Management Services Private Limited (NSPIRA/Target) from NHPEA Minerva Holding BV; and (ii) 2.24% of the total issued and paid-up share capital (fully diluted basis) of the Target from Banyantree Growth Capital II, LLC (Proposed Combination).
Author: IBC Laws Editor
CCI approves acquisition of shareholding of JM Baxi Ports and Logistics Limited by HL Terminal Holding B.V.
The Competition Commission of India (CCI) approves the acquisition of shareholding of JM Baxi Ports and Logistics Limited by HL Terminal Holding B.V., a wholly owned subsidiary of Hapag Lloyd Aktiengesellschaft. The proposed combination pertains to acquisition by HL Terminal Holding B.V. (Acquiring Entity) of certain shareholding of JM Baxi Ports and Logistics Private Limited (Target) (Proposed Combination).
IBC proceeding cannot be used for recovery of Success Fee/Brokerage Fee where the Corporate Debtor denies the claim by giving notice of disputes – BNK Securities Pvt. Ltd. Vs. Sebacic India Ltd. – NCLAT New Delhi
By impugned order, the application filed under Section 9 of IBC of the Appellant has been rejected on the ground of pre-existing dispute. The Appellant claimed that he has an agreement with the Corporate Debtor for Success Fee and after the performance of his part, the Appellant issued an invoice to the Corporate Debtor. NCLAT held that we find that there was a pre-existing dispute and Adjudicating Authority did not commit any error in rejecting Section 9 Application. IBC proceeding cannot be used for recovery of Success Fee/Brokerage Fee as in the present case where the Corporate Debtor denies the claim of the Appellant by giving notice of disputes to the Appellant.
