08Dec An application filed before Arbitral Tribunal u/s 27 of Arbitration and Conciliation Act, 1996 cannot be allowed mechanically by Arbitral Tribunal, it must scrutinize that there is relevancy or materiality of witness sought to be produced | The adjudication has to be done by Arbitral Tribunal – Steel Authority of India Ltd. v. Uniper Global Commodities – Delhi High Court Posted by Z B Bon December 8, 2023December 7, 2023in Arbitration-High Court, Judgment of Day-Arbitration, Newsletter-Arbitration Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
08Dec EPFO cannot issue orders prohibiting and restraining Secured Creditor from utilising the amount paid by Liquidator to Secured Creditor from sale proceeds of properties of the Corporate Debtor – Tamilnad Mercantile Bank Ltd. v. Recovery Officer, The Regional Commissioner-II, Employees’ Provident Fund Organisation – Madras High Court Posted by Z B Bon December 8, 2023December 7, 2023in IBC-Case Laws-High Courts, Newsletter-IBC Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
08Dec Multiple Purchase Orders can be clubbed in a single company application under Section 9 of IBC and the same is maintainable – MM Aqua Technologies Ltd. v. Clean Flow Cooling Tower Solutions Pvt. Ltd. – NCLT Mumbai Bench Posted by IBC Laws Editoron December 8, 2023December 7, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case, Own Case Citation Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
08Dec Transfer of loan from Principal Borrower to Corporate Debtor through assignment agreement, which is not stamped is a void contract and insolvency u/s 7 of IBC cannot be initiated against the Corporate Debtor – Vinsari Fruitech Ltd. v. Effort BPO Pvt. Ltd. – NCLT Mumbai Bench Posted by IBC Laws Editoron December 8, 2023December 8, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
08Dec Earlier invoked jurisdiction of High Court and did not get any interim orders thereafter, filed an application u/s 16 of Arbitration and Conciliation Act, 1996 and after rejection of application u/s 16, again prosecuting writ petition would not be appropriate and would be against the propriety – Bharat Heavy Electricals Ltd. v. The Chairman Micro Small Enterprises Facilitation Council – Madras High Court Posted by Z B Bon December 8, 2023December 7, 2023in Arbitration-High Court, Newsletter-Arbitration Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
08Dec Section 43 of IBC refers to property which has very wide meaning and includes goods – State Bank of India and Ors. v. Sidharth Bharatbhushan Jain and Ors. – NCLT Ahmedabad Bench Posted by IBC Laws Editoron December 8, 2023December 7, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
07Dec Whether once Secured Creditor has proceeded to change the mode of sale, from public auction to private treaty, minimum 30 days’ notice is required to be given in view of Rule 8(6) read with Rule 9(1) of Security Interest (Enforcement) Rules, 2002 and u/s 13(8) of SARFAESI Act, 2002, Bank is obliged to call upon Borrower to clear dues before proceeding for sale? – IDFC First Bank Ltd. Vs. Dharmendra Popatlal Patel – Gujarat High Court Posted by Z B Bon December 7, 2023December 6, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case, Newsletter-RDB NI Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
07Dec Onerous responsibility of pursuing avoidance applications on Resolution Professional | CIRP and avoidance applications are a separate set of proceedings | Avoidance applications can continue even after completion of CIRP and approval of the resolution plan does not need to be put on hold – Ms. Amita Saurabh Bihani and Ors. v. E&G Global Estates Ltd. and Ors. – NCLAT New Delhi Posted by IBC Laws Editoron December 7, 2023December 7, 2023in IBC-Case Laws-NCLAT, Judgment of Day-IBC, Newsletter-IBC Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
07Dec The amount outstanding u/s 31(j) of SARFAESI Act, 2002 would be the principal amount and interest as per the books of account of the secured creditor and the total amount due after the discharging of the liability up to 80% by the debtor would fall within the purview of Sec. 31(j) – IFCI Factors Ltd. v. Patil Construction and Infrastructure Pvt. Ltd. & Ors. – DRAT Mumbai Posted by IBC Laws Editoron December 7, 2023December 6, 2023in Case Laws-SARFAESI-DRAT, Newsletter-IBC Case, Newsletter-RDB NI Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
07Dec Successful Auction Purchaser (in Liquidation Process) is not liable to pay arrears of Electricity Dues which were dues of Corporate Debtor and electricity connection cannot be rejected on the basis of these dues – Paschimanchal Vidyut Vitran Nigam Ltd. v. HSA Traders – NCLAT New Delhi Posted by IBC Laws Editoron December 7, 2023December 6, 2023in IBC-Case Laws-NCLAT, Newsletter-IBC Case Username Password Remember Me Forgot Password In case you've already logged in, click here to know why you're not able to access this content.
