10/12/2024

The right to maintenance will be superior to and have overriding effect than the statutory rights afforded to Financial Creditors, Secured Creditors, Operational Creditors or any other such claimants encompassed within the SARFAESI Act, 2002, the Insolvency and Bankruptcy Code, 2016 (IBC) or similar such laws – Apurva @ Apurvo Bhuvanbabu Mandal Vs. Dolly and Ors. – Supreme Court

/ 8 minutes of reading

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The right to maintenance will be superior to and have overriding effect than the statutory rights afforded to Financial Creditors, Secured Creditors, Operational Creditors or any other such claimants encompassed within the SARFAESI Act, 2002, the Insolvency and Bankruptcy Code, 2016 (IBC) or similar such laws – Apurva @ Apurvo Bhuvanbabu Mandal Vs. Dolly and Ors. – Supreme Court Read Post »

Is Special Resolution of the shareholders under Section 62(1)(c) of the Companies Act, 2013, necessary in case of conversion of any portion of debt into shares by ARC under Section 9 of SARFAESI, 2002? – Jyoti Ltd. Vs. BSE Ltd. and Anr. – Supreme Court

/ 7 minutes of reading

Hon’ble Supreme Court held that even the application for listing of the additional shares was made by the Company to the BSE meaning thereby that the proposal for increasing the subscribed capital of the company by converting part of the debt into equity shares, as aforesaid, was initiated by the appellant company itself and not actually by RARE. Therefore, the proposal was that of the company only. Accordingly, as contemplated by Section 62(1)(c) of the Companies Act, 2013, the approval of the shareholders would be mandatory before the shares are accepted for listing on the BSE.

Is Special Resolution of the shareholders under Section 62(1)(c) of the Companies Act, 2013, necessary in case of conversion of any portion of debt into shares by ARC under Section 9 of SARFAESI, 2002? – Jyoti Ltd. Vs. BSE Ltd. and Anr. – Supreme Court Read Post »

After completion of Liquidation Auction, it is not open for a third party to offer higher amount by challenging the auction – JSK Estate Pvt. Ltd. Vs. Sundresh Bhat and Anr. – NCLAT New Delhi

/ 8 minutes of reading

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After completion of Liquidation Auction, it is not open for a third party to offer higher amount by challenging the auction – JSK Estate Pvt. Ltd. Vs. Sundresh Bhat and Anr. – NCLAT New Delhi Read Post »

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