DRT/ NCLT / LOANS

Approval of a resolution plan of corporate debtor does not operate so as to discharge the liabilities of personal guarantors: Supreme Court

By team of Advocate Retainer June 27, 2021 - 16:00

Approval of a resolution plan of corporate debtor does not operate so as to discharge the liabilities of personal guarantors: Supreme Court

The SC on May 21, 2021 {LALIT KUMAR JAIN vs. UNION OF INDIA & ORS.} held that the theme of gradual implementation of law or legal principles i...

Posted in Enforcing provision of Act in piecemeal, Guarantor Liability, Insolvency and Bankruptcy Code, Principal Debtor, Sanction of Resolution Plan

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Supreme Court: Approval of resolution plan under IBC depends on the commercial wisdom of Committee of Creditors, scope of judicial review remains limited

By team of Advocate Retainer June 20, 2021 - 18:00

Supreme Court: Approval of resolution plan under IBC depends on the commercial wisdom of Committee of Creditors, scope of judicial review remains limited

The SC on May 13, 2021 {INDIA RESURGENCE ARC PRIVATE LIMITED vs. M/S. AMIT METALIKS LIMITED & ANR.} held that as regards the process of consi...

Posted in 2016, Committee of Creditors, dissenting secured creditor, Insolvency and Bankruptcy Code, Judicial Review, Resolution plan

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No substantial prejudice being caused apart from the technical objection being raised for demand notice under Section 13(2) SARFAESI, interference by the High Court in its limited scope of judicial review was not called for: SC

By team of Advocate Retainer October 30, 2020 - 17:30

No substantial prejudice being caused apart from the technical objection being raised for demand notice under Section 13(2) SARFAESI, interference by the High Court in its limited scope of judicial review was not called for: SC

The SC on October 27, 2020 {M/S. L&T HOUSING FINANCE LIMITED vs. M/S. TRISHUL DEVELOPERS AND ANR.} held that the objection raised by the respon...

Posted in Sec 13 SARFAESI Act, Show Cause Notice, Technical Objection, Typographical Error

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Supreme Court: Vide order dated 23.03.2020 what was extended was only “the period of limitation” and not the period upto which delay can be condoned

By team of Advocate Retainer September 22, 2020 - 18:30

Supreme Court: Vide order dated 23.03.2020 what was extended was only “the period of limitation” and not the period upto which delay can be condoned

The SC on September 18, 2020 {SAGUFA AHMED & ORS. vs UPPER ASSAM PLYWOOD PRODUCTS PVT. LTD. & ORS.} held that by virtue of the proviso to S...

Posted in Appeal Limitation, Covid-19, Extension of limitation, Lockdown, SC order dated 23.03.2020

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Dispute as to inheritance of shares is a civil dispute and not of oppression or mismanagement, NCLT has no jurisdiction: Supreme Court

By team of Advocate Retainer July 15, 2020 - 19:00

Dispute as to inheritance of shares is a civil dispute and not of oppression or mismanagement, NCLT has no jurisdiction: Supreme Court

The SC on July 6, 2020 {ARUNA OSWAL vs PANKAJ OSWAL & ORS.} held that from a bare reading of the provisions of section 72(1) of th...

Posted in Inheritance of Shares, Maintainability before NCLT, Nominee of Shares, Oppression and Mismanagement, Section 241 Companies Act, Section 242 Companies Act, Section 397 & 398 of Companies Act, Section 72 Companies Act, Shareholding less than 10%

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SC rules 'SARFAESI Act' is applicable to Cooperative Banks, Parliament has legislative competence to include them

By team of Advocate Retainer May 05, 2020 - 19:00

SC rules 'SARFAESI Act' is applicable to Cooperative Banks, Parliament has legislative competence to include them

The SC on May 5, 2020 {PANDURANG GANPATI CHAUGULE v. VISHWASRAO PATIL MURGUD SAHAKARI BANK LIMITED} held that the cooperative banks registe...

Posted in Cooperative Banks, Legislative Competence, SARFAESI Act

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DRT ought to have allowed application of bank, for return of original title documents, in view of auction: SC

By team of Advocate Retainer April 26, 2020 - 13:30

DRT ought to have allowed application of bank, for return of original title documents, in view of auction: SC

The SC on April 24, 2020 {Tripower Enterprises (Private) Limited v State Bank of India & Ors.} held that guarantor has raised the issue regardi...

Posted in DRT, Return of original documents

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Limitation to file application under Order 21 Rule 90 of CPC is of 60 days - delay in filing cannot be condoned as Section 5 of Limitation Act is not applicable; SC.

By team of Advocate Retainer April 01, 2020 - 12:00

Limitation to file application under Order 21 Rule 90 of CPC is of 60 days - delay in filing cannot be condoned as Section 5 of Limitation Act is not applicable; SC.

Supreme Court of India Justice Deepak Gupta & Justice L. Nageswara Rao The SC on March 17, 2020 {AARIFABEN YUNUSBHAI PATEL & ORS. v. MUKUL ...

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The income tax cannot attach property which has recovery certificate issued qua it by DRT, prior to issuance of notice; SC.

By team of Advocate Retainer March 24, 2020 - 21:30

The income tax cannot attach property which has recovery certificate issued qua it by DRT, prior to issuance of notice; SC.

Supreme Court of India Justice L. Nageswara Rao & Justice Deepak Gupta The SC {M/s. Connectwell Industries Pvt. Ltd. v. Union of India} holds i...

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The High Court cannot waive pre-deposit for preferring appeal before DRAT; SC.

By team of Advocate Retainer March 16, 2020 - 13:01

The High Court cannot waive pre-deposit for preferring appeal before DRAT; SC.

Supreme Court of India Justice Deepak Gupta & Justice Aniruddha Bose The SC {UNION BANK OF INDIA v. RAJAT INFRASTRUCTURE PVT. LTD. & ORS.}...

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Borrower after dismissal of petition before DRT/DRAT cannot file criminal complaint against the bank; SC.

By team of Advocate Retainer March 12, 2020 - 19:00

Borrower after dismissal of petition before DRT/DRAT cannot file criminal complaint against the bank; SC.

Supreme Court of India Justice A S Bopanna, Justice R Banumathi & Justice S. Abdul Nazeer The SC {K. Virupaksha & Anr. v. the State of Karn...

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Properties of corporate debtor to secure the third party debts cannot partake the character of 'financial debt' under IBC; SC.

By team of Advocate Retainer March 04, 2020 - 20:00

Properties of corporate debtor to secure the third party debts cannot partake the character of 'financial debt' under IBC; SC.

Supreme Court of India Justice Dinesh Maheshwari and Justice A M Khanwilkar The SC {ANUJ JAIN INTERIM RESOLUTION PROFESSIONAL FOR JAYPEE INFRATECH ...

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