News Updates
Delhi Riots: High Court Seeks Status Report On Disbursal Of Compensation To Victims
The Delhi High Court on Monday sought a status report from the office of North-East Delhi Riots Claims Commission (NEDRCC), set up by the Delhi government in April 2020, regarding the details of the claims received by it from the victims and the amounts disbursed to them, if any.Justice Prathiba M Singh also directed the Secretary of the Claims Commission to place on record the procedure...
Discharge Of Liability Of The Principal Burrower Or Guarantor Does Not Automatically Discharge The Other In A Contract Of Guarantee: NCLT Chandigarh
The National Company Law Tribunal, Chandigarh Bench, comprising of Shri Harnam Singh Thakur (Judicial Member) and Shri Subrata Kumar Dash (Technical Member), while adjudicating a petition under Section 7 of Insolvency and Bankruptcy Code, 2016 (“IBC”) in Jammu Kashmir Bank Limited vs Ace Engineering (India) Pvt Ltd. has held that even if, either the principal borrower or guarantor...
NCLT Ahmedabad Approves GAIL India’s Resolution Plan For JBF Petrochemicals
NCLT Ahmedabad has approved a 2079 crore resolution plan of GAIL (India) Limited (“GAIL”) for JBF Petrochemicals under section 31 (1) of the Insolvency and Bankruptcy Code, 2016 (“IBC”). This is the second instance of a state-owned company acquiring a private sector bankrupt company , with the first being Indian Oil Corporation acquiring Mercator under IBC. JBF Petrochemicals...
Corporate Debtor Not Being A Going Concern, Termination Of Essential Raw Material Supply Doesn’t Erode Value Of Assets: NCLT Ahmedabad
The National Company Law Tribunal (“NCLT”), Ahmedabad Bench, comprising of Dr. Madan B. Gosavi (Judicial Member) and Shri Ajai Das Mehrotra (Technical Member), while adjudicating a petition filed in Sundaresh Bhat v Mangalore Refinery and Petrochemicals Limited, has held that Section 14 of IBC seeks to preserve the ‘going concern’ status ‘if’ the Corporate Debtor is...
Habeas Plea Claims Alleged Khalistani Sympathiser Detained Illegally By State Police, High Court Issues Notice To Punjab Govt
The Punjab and Haryana High Court on Sunday issued notice to the Punjab Government on a habeas corpus plea moved before it seeking the production/release of alleged separatist leader and chief of 'Waris Punjab De' organization, Amritpal Singh.The bench of Justice NS Shekhawat issued this notice on a plea moved by one Imaan Singh Khara, legal advisor of 'Waris Punjab De', claiming that Singh...
Length Of Delay Immaterial, Reason Stated For Condonation Matter: NCLT Hyderabad Reiterates
The National Company Law Tribunal, Hyderabad Bench, comprising Dr. Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member), while adjudicating an application under Section 60(5) of Insolvency and Bankruptcy Code, 2016 (“IBC”) by the Deputy Director, Employees State Insurance Corporation in Asset Reconstruction Company (India) Limited...
Section 9 Petition Not Maintainable If Principal Amount Repaid During Pendency Of Petition: NCLT Bengaluru Reiterates
The National Company Law Tribunal, Bengaluru Bench, comprising of Justice (Retd) T. Krishnavalli (Judicial Member) and Shri Manoj Kumar Dubey (Technical Member), while adjudicating a petition under Section 9 of Insolvency and Bankruptcy Code, 2016 (“IBC”) in Ramesh Kumar Garg vs M/s Buildmet Pvt Ltd. has reiterated that a Section 9 petition is not maintainable if the principal...
‘A Case And A Counter Case Have To Be Tried Together’: Karnataka High Court Allows Transfer Of Criminal Proceedings To Single Court
The Karnataka High Court has reiterated that a case and a counter case have to be tried together by the same court irrespective of the nature of offences involved, to avoid conflicting judgments over the same incident. A single judge bench of Justice Mohammad Nawaz allowed the petition filed by one Dr Sanjeev Kumar Hiremath and transferred the case filed by him pending before the Magistrate...
In A Democracy, Media Personnel Can't Be Jailed For Reporting: Kerala Court Grants Anticipatory Bail To Asianet Journalists
A local Court at Kozhikode on Saturday granted pre-arrest bail to the Executive Editor and other employees of Asianet News in connection with the allegations of airing a 'staged interview' of a minor girl who was made to say that she was a victim of drug abuse and sexual exploitation.Finding that there were no serious allegations against the petitioners herein, the Special Judge Priya...
Mortgage Security Acquired: Karnataka High Court Applies Doctrine Of Substituted Security, Orders Compensation Deposit Until Adjudication Of Rights
The Karnataka High Court has said that a mortgagee (secured creditor/Bank) gets rights over the compensation amount to be disbursed when the property which is mortgaged with it is acquired by the state government, as per Section 73 of the Transfer of Property Act.A single judge bench of Justice Krishna S Dixit allowed a petition filed by M/s D C B Bank Limited and directed Special...
Gujarat High Court Imposes ₹5000 Cost On Man For Seeking Custody Of Live-In Partner Who Is Married To Another Man
The Gujarat High Court dismissed a habeas corpus petition with Rs. 5000/- cost on the petitioner who was seeking custody of his live-in partner alleging that she was in illegal custody of her husband.The division bench of Justice Vipul M. Pancholi and Justice Hemant M. Prachchhak observed:“It is not in dispute that till today, the marriage of the petitioner is not solemnized with the...
Plea Filed In Kerala High Court Against Water Authority Alleging Trespass, Erection Of Hoarding On Private Property
The Kerala High Court has sought response of the local authority on the plea of a Kochi resident accusing the Water Authority of trespassing on his private property and putting up hoardings thereon.Justice Shaji P. Chaly directed the Tahsildar of Kanayannur Taluk in Ernakulam to file the report within three weeks.The 53 years old petitioner claims to be the owner in possession of 8.1 Ares...