Monthly Digest Of IBC Cases: November 2022

Supreme Court Can Provisional Attachment Under PMLA Be Passed After Initiation Of CIRP Under IBC? Supreme Court To Consider Case Title: Ashok Kumar Sarawagi v Enforcement Directorate & Anr. Case no.: Special Leave Petition (Civil) Diary No(S). 30092/2022 The Supreme Court Bench comprising of Chief Justice U.U. Lalit and Justice Bela M. Trivedi, has issued notice in...

TRS MLAs Poaching Case: Telangana High Court Grants Bail To Three Accused

The Telangana High Court today granted bail to three accused in connection with the alleged TRS MLAs poaching case, and directed them to appear before the Special Investigation Team (SIT), which is probing the case, every Monday.While granting them bail, the bench of Justice Chillakur Sumalatha took into account the fact that the accused have been in judicial custody for over a month and that...

Madras HC Reserves Order On Isha Foundation's Challenge Against Notice On Alleged Violation Of Environment Clearance Norms

The Madras High Court on Wednesday reserved orders on Isha Foundation's plea against Tamil Nadu government's notice initiating prosecution against the foundation for carrying out construction work between 2006-2014 at Coimbatore, without obtaining mandatory environmental clearance as per the Central Government's Environment Impact Assessment Notification, 2006.The bench of Acting Chief Justice...

Former Judicial Member Of NCLT Has No Vested Right To Reappointment: Gujarat High Court

The Gujarat High Court on Tuesday observed that a former Judicial member of the National Company Law Tribunal (NCLT) has no vested right to reappointment. The bench of Justice N. V. Anjaria and Justice Sandeep N. Bhatt observed thus while dealing with a writ petition filed by a former Judicial Member NCLT, Ahmedabad (Ms. Manorama Kumari) seeking re-appointment to the post.Kumari was appointed...

Uttarakhand Assembly Passes Stricter 'Anti-Conversion Bill', Introduces Offence Of 'Mass Conversion' With Upto 10 Yr Jail Term

The Uttarakhand State Assembly on November 29 passed the Uttarakhand Freedom of Religion (Amendment) Bill, 2022 to make its 2018 'Anti Conversion Law' stricter and more stringent. The bill was tabled in the State Assembly on the opening day of the winter session of Assembly by State Minister Satpal Maharaj.The bill seeks to make 'Unlawful Religious Conversion' a cognisable and...

Bogus Share Transaction: ITAT Denies Exemption Under Section 10(38) Of Income Tax Act

The Pune Bench of the Income Tax Appellate Tribunal has ruled that where the assessee fails to establish the genuineness of the transaction of sale and purchase of shares, and fails to rebut the findings of quasi-judicial bodies regarding the bogus transaction in shares, the said transaction is void ab initio. Thus, applying the principle of fraud, the ITAT held that the assessee was...

Register FIR Within An Hour Of Receiving Information About Any Attack On Doctors: Kerala High Court To Police

The Kerala High Court on Thursday directed the Police to register the FIR and take cognizance of the offence of attack against the doctors and other healthcare professionals within an hour of receiving the information.The court issued the direction after taking into consideration the increasing instances of attacks against doctors and healthcare Professionals. FIR be registered within an hour...

Net Worth Of Transferor & Transferee Company Being Highly Positive, Consent Of Secured Creditors Not Required For Amalgamation: NCLAT Delhi

The National Company Law Appellate Tribunal ("NCLAT"), Principal Bench, comprising of Justice Anant Bijay Singh (Judicial Member) and Ms. Shreesha Merla (Technical Member), while adjudicating an appeal filed in Lasa Supergenerics Limited v Harishree Aromatics & Chemicals Pvt. Ltd., has held that in cases where the net worth of the Transferor and Transferee Companies...

When Drug Was Recovered On Driver's Body Search, It Can't Be Held That Vehicle Was Used For Conveying Contraband : Kerala High Court

The Kerala High Court Monday considered the legal question that whether in a case of recovery of contraband on driver's body search, it would be fair to hold that the vehicle also had been used for the purpose of conveying the contraband.Justice A. Badharudeen said when contraband is recovered on search of a person, who is driving the vehicle alone, after compliance of Section 50 of NDPS Act,...

Kantara Movie : Kerala High Court Stays District Court's Order Which Returned Thaikkudam Bridge's Plaint Against Hombale Films

Update on December 2 : Kantara Movie : Stay Of District Court's Order Returning Thaikkudam Bridge's Plaint Will Not Revive Injunction Against "Varaharoopam", Clarifies Kerala HCIn relation to the copyright dispute regarding "Varaharoopam" song in the Kannada superhit movie "Kantara", the Kerala High Court on Thursday stayed the Kozhikode District Court's order which returned the plaint filed...

Participation In Arbitral Proceedings, Does Not Disentitle Party To Challenge Award On Ground Of Unilateral Appointment Of Arbitrator: Bombay High Court

The Bombay High Court has ruled that merely because a party participated in the arbitration proceedings, it is not disentitled from challenging the arbitral award on the ground that the arbitration proceedings were vitiated due to the unilateral appointment of the Arbitrator by the opposite party, falling foul of Section 12(5) read with the Seventh Schedule of the Arbitration...

Mumbai Local: PIL In High Court Seeks Exclusive Compartment For Senior Citizens

A PIL has been filed in the Bombay High Court seeking a separate compartment with separate entrance for senior citizens in local trains similar to the one provided exclusively for cancer patients and persons with disability. The petitioner, K. P. Purushothamam Nair, is a senior citizen who travels regularly between Bandra and Churchgate. On January 2, 2022, he received a...