Case Synopsis

Once a Prospective Resolution Applicant fails to succeed, he cannot turn volta face to challenge the extension of time granted to file Resolution Plan, as violative of regulations, as he acquiesced into the alleged violation of regulations and allowed a right to be created in favor of the Successful Resolution Applicant in the meantime – NCLT, Kolkata Bench

Once a Prospective Resolution Applicant fails to succeed, he cannot turn volta face to challenge the extension of time granted to file Resolution Plan, as violative of regulations, as he acquiesced into the alleged violation of regulations and allowed a right to be created in favor of the Successful Resolution Applicant in the meantime. However, no violations were noted –by the Division Bench of Smt. Bidisha Banerjee and Shri Balraj Joshi, NCLT, Kolkata Bench

Once a Prospective Resolution Applicant fails to succeed, he cannot turn volta face to challenge the extension of time granted to file Resolution Plan, as violative of regulations, as he acquiesced into the alleged violation of regulations and allowed a right to be created in favor of the Successful Resolution Applicant in the meantime – NCLT, Kolkata Bench Read Post »

Can the Court Appoint an Arbitrator for an Arbitration Agreement contained in an Unstamped Document?: Constitution Bench Perspective – By Gunjan Chhabra

N.N. Global Mercantile Pvt. Ltd. V. Indo unique flame Ltd. & Ors., reported at (2023) ibclaw.in 56 SC (Supreme Court of India Constitution Bench , decided on 25.03.2023) was the decision of a larger bench. A 3 judge bench, on 11.01.2021 had made this reference in a case of the same title with citation (2021) ibclaw.in 05 SC. The 3 judge bench case was a petition for appointment of arbitrator under Section 11 of the Arbitration & Conciliation Act.
Read here analysis of the decision.

Can the Court Appoint an Arbitrator for an Arbitration Agreement contained in an Unstamped Document?: Constitution Bench Perspective – By Gunjan Chhabra Read Post »

Vishwanatha Sridhar Prabhu Vs. Union of India Case Summary – By Akhila Bolla

High Court in this case has granted Interim relief for Pending the hearing and final disposal of the present Writ Petition, stay the operation and effect of the Order passed on February 28, 2022 passed by the IBBI for suspending the registration of Mr. Vishwanath Shridhara Prabhu as a registered valuer till he is acquitted of the charges.

Vishwanatha Sridhar Prabhu Vs. Union of India Case Summary – By Akhila Bolla Read Post »

Case Synopsis – Borrower is required to deposit 50% debt due while filing SARFAESI-appeal before DRAT – By Adv. Jaydeep Mehta

HCs have “seriously erred in directing to adjust/appropriate the amount realised by auction sale of the secured properties/deposited by the auction purchasers while considering the 50% of the amount as pre-deposit to be deposited by the borrower, while preferring an appeal before the DRAT.

Case Synopsis – Borrower is required to deposit 50% debt due while filing SARFAESI-appeal before DRAT – By Adv. Jaydeep Mehta Read Post »

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