Legal Insights from Recent Court Decisions and their Implications for Stakeholders By Gunjan Chhabra(Visit here to read more Case Briefs by Gunjan Chhabra) Can a 138 Complaint be Quashed if the Underlying Debt is Time Barred? K. Hymavathi v. State of…
Category: Case Analysis
Commercial Law and Procedures in Recent Cases in Dispute Resolution – August 2023 -Part 2 -By Gunjan Chhabra
Commercial Law and Procedures in Recent Cases in Dispute Resolution – August 2023 -Part 2 By Gunjan Chhabra(Visit here to read more Case Briefs by Gunjan Chhabra) Understanding the Level of Scrutiny of an Award Passed by a Technical Tribunal in…
Case summary – CGST v. Dr. K.V. Srinivas, Liquidator of Veda Biofuel Ltd. – By Adv. Sai Sumed Yasaswi Kondapalli
The NCLT dismissed an appeal filed by the Central Goods and Service Tax, Vizianagaram CGST Division against the Liquidator of Veda Biofuel Ltd. Corporate Debtor vide order dated 07-08-2023. The CGST department had sought the admission of a rejected claim amount of Rs. 8.67 crores.
Rulings on clubbing concept in IBC to meet the minimum threshold amount of default to initiate CIRP
NCLT Benches, NCLAT, High Courts and Supreme Court rulings on clubbing concept in IBC is categorized in the following points: 1. Filing of jointly application to meet the minimum amount of the default 1.1 Filing of joint application by Operation Creditors to meet the minimum amount of the default 1.2 Filing of joint application by Financial Creditors to meet the minimum amount of the default 2. Clubbing of Interest in Principal amount to meet the minimum amount of the default 2.1 Clubbing of interest in case of Operational Debt 2.2 Clubbing of interest in case of Financial Debt 3. Clubbing of the two difference work orders/invoices/separate debt
Decoding Commercial Legal Landscapes: A Collection of Recent Judgments Shaping Arbitration, Patent Rights, and Procedural Jurisdiction – August 2023 – Part 1
Decoding Commercial Legal Landscapes: A Collection of Recent Judgments Shaping Arbitration, Patent Rights, and Procedural Jurisdiction – August 2023 – Part 1 By Gunjan Chhabra(Visit here to read more Case Briefs by Gunjan Chhabra) Resolving Patent Disputes: RxPrism Inc. vs. Canva…
Enforceability of Unstamped Arbitration Agreements in India: N.N. Global Analysis – Shubham Singh
In a recent ruling by the Supreme Court of India's Larger Bench in the case of N.N. Global Mercantile Private Limited v Indo Unique Flame Ltd and Others (2023) ibclaw.in 56 SC, the majority of 3:2 held that an unstamped document that is required to have stamp duty and includes an arbitration clause cannot be considered a legally enforceable contract under Section 2(h) of the Indian Contract Act 1872. As a result, it is unenforceable under Section 2(g) of the Contract Act. This ruling was reached as a consequence of a referral to the Larger Bench, which took into account the contradictory judgements of other Supreme Court of India benches.
Terminating Contract with the Corporate Debtor during the CIRP – By Anoushka
The code does not, in entirety, answer the question of whether contracts with the corporate debtor can be terminated during the CIRP and does not provide a blanket bar on the same. In the absence of an explicit clause on the subject, Indian courts have stepped in with their own interpretation of sub-sections of Section 14, primarily prohibiting third parties from ending contractual relationships with the debtor since it would have a negative impact on them and so go against the spirit of the mortarium itself.
GST Search and Seizure during Insolvency proceedings and summons to Resolution Professional, NCLT imposes compensatory cost on GST Department
A important decision of NCLT. Kochi Bench on GST search and seizure during CIRP and summon to Resolution Professional.
Whether RBI approval is required if ARC is a Co-Resolution Applicant? – Sparsh Srivastava
In this article, the author finds merits in the decision of NCLAT in Puissant Towers India Pvt. Ltd. v Neueon Towers Ltd. & Ors. (2023) ibclaw.in 391 NCLAT while numerous issues with the order of NCLT, which was challenged herein. The author also appreciated the decision on evaluation from different lenses, which were either partially or wholly untouched in the judgement. One of the major concern was the time taken in the process which is still incomplete.
Jasamrit v. Gian Chand judgment – Left Wanting More – By Dhruv Malpani
Reviewing and judging on the appeal sought after by the appellant, the Appellate Tribunal partly allowed the appeal, and laid down substantive and conclusive framework that could be followed as they did in the case. In this case comment, I discuss upon the Appellate Tribunal’s judgement and argue for a more assertive stance that was needed from a judicial and legal viewpoint. I argue for a firmer interpretation of the statute, not narrowing it down to solely the production document, while also highlighting the minute details the Tribunal missed in the first place. Lastly, I would mark upon the non-anachronistic nature of the judgement that can be made out.