Arbitration Cases Monthly Digest: June 2024

Supreme Court High Court Not Having Original Civil Jurisdiction Cannot Extend Time To Pass Arbitral Award As Per S.29A(4) Arbitration Act : Supreme Court Case Title: CHIEF ENGINEER (NH) PWD (ROADS) VERSUS M/S BSC & C and C JV Citation : 2024 LiveLaw (SC) 425 The Supreme Court held that a High Court which does not have original civil jurisdiction does not have the power to extend the time limit for passing of the arbitral award as per Section 29A of the Arbitration &...

Monthly Digest Of IBC Cases: June 2024

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No.: W.P.(C) 14389/2022 The Delhi High Court bench of Justice Subramonium Prasad held that official liquidators must adhere to ethical principles and demonstrate an unwavering commitment to fairness to discharge their duties under the Insolvency and Bankruptcy Code. ...

Weekly Digest Of IBC Cases: 24th June 2024 To 30th June 2024

HIGH COURTS Indian Courts Are Not Bound By Foreign Insolvency Judgments From Non-Reciprocating Countries: Calcutta High Court Case Title: Uphealth Holdings, INC. vs Dr. Syed Sabahat Azim & Ors. Case No.: C.O. No. 241 of 2024 The Calcutta High Court single judge bench of Justice Shampa Sarkar held that without a comprehensive cross-border insolvency framework, Indian courts do not recognize or enforce moratorium orders from non-reciprocating countries, such as the U.S.,...

Weekly Digest Of IBC Cases: 17th June 2024 To 23rd June 2024

NCLAT NCLAT Delhi: Pending Scheme Under Section 230 Of Companies Act, Against CD, Can't Be A Ground To Deny Admission Of CIRP Case Title: Grand Developers Pvt. Ltd. vs. Nitin Batra & Ors. Case Number: Company Appeal (AT) (Insolvency) No. 899 of 2024 & I.A. No. 3250 of 2024 The National Company Law Appellate Tribunal ('NCLAT') Delhi, comprising Mr. Justice Ashok Kumar Bhushan (Chairperson), Mr. Barun Mitra (Technical Member), and Mr. Arun Baroka (Technical Member) ...

Allahabad High Court Monthly Tax Digest: May 2024

NOMINAL INDEX Mr. Pranay Dhabhai v. State Of U.P. And 2 Others 2024 LiveLaw (AB) 299 Mentha And Allied Products Ltd vs. State Of U.P. And 3 Others 2024 LiveLaw (AB) 300 Satish Kumar Bansal Huf v. National Faceless Assessment Centre Nafac And Another 2024 LiveLaw (AB) 301 M/S K Y Tobacco Works Pvt. Ltd. vs. State Of U.P. And 4 Others 2024 LiveLaw (AB) 319 M/S Rajshi Processors Raebareli Thru. Its Partner Ashok Kumar Lakhotia v. State Of U.P. Thru. Prin. Secy. Deptt. Of State...

Weekly Digest Of IBC Cases: 10th June 2024 To 16th June 2024

HIGH COURTS Madras High Court: Adjudicating Authority Must Exercise Jurisdiction Akin To Revisional Jurisdiction To Assess The Correctness Of COC's Actions Case Title: National Sewing Thread Co. Ltd. vs Superintending Engineer, TANGEDCO and Anr. Case No.: W.P. No.29845 of 2022 and WMP.No.29233 of 2022 The Madras High Court bench of Justice N. Seshasayee held that though the Adjudicating Authority may not substitute the commercial wisdom of the Committee of Creditors...

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No.: W.P.(C) 14389/2022 The Delhi High Court bench of Justice Subramonium Prasad held that official liquidators must adhere to ethical principles and demonstrate an unwavering commitment to fairness to discharge their duties under the Insolvency and Bankruptcy Code. ...

Monthly Digest Of IBC Cases: May 2024

SUPREME COURT Can Homebuyer's Claim For Apartment Be Rejected For Not Filing Claim During Insolvency Process Against Builder? Supreme Court To Decide Case Title: Ayush Agarwal vs Jaypee Infratech Ltd. & Ors. Citation: Civil Appeal No. 5185/2024 The Supreme Court of India is set to determine whether the non-filing of a claim during the insolvency resolution process of a builder can result in the rejection of a homebuyer's claim for allotment of apartment. The case...

Weekly Digest Of IBC Cases: 27th May 2024 To 02nd June 2024

NCLAT NCLAT Upholds Adani Goodhomes Bid With 93% Haircut For Radius Estate Case Title: Beacon Trusteeship Ltd vs. Jayesh Sanghrajka & Ors and connected petitions Case No: Company Appeal (AT) (Insolvency) No. 1494 – 1495 of 2022 The National Company Law Appellate Tribunal ('NCLAT'), New Delhi comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Technical Member) upholds the Resolution Plan submitted by Adani Goodhomes for the real estate company Radius Estate...

Weekly Digest Of IBC Cases: 20th To 26th May 2024

High Court Resolution Professional Not To Be Hauled Up In Criminal Case Against Company: Kerala High Court Stays ED Notice To RP Case Title: M/s Kerala Chamber Of Commerce And Industry vs. Directorate of Enforcement Case Number: CRL.MC No. 3605 of 2024 The Kerala High Court stated that prima facie, a Resolution Professional appointed under the Insolvency and Bankruptcy ('IB') Code for carrying the Corporate Insolvency Resolution Process ('CIRP') of the Company cannot be ...

Supreme Court Quarterly Digest 2024- ARBITRATION (Jan - Mar)

SUPREME COURT QUARTERLY DIGEST 2024Arbitration and Conciliation Act, 1996An award could be said to be against the public policy of India in, inter alia, the following circumstances: 1. When an award is, on its face, in patent violation of a statutory provision 2. When the arbitrator/Arbitral Tribunal has failed to adopt a judicial approach in deciding the dispute. 3. When an award is in violation of the principles of natural justice. 4. When an award is unreasonable or perverse. 5. When an award...

Weekly Digest Of IBC Cases: 13th To 19th May 2024

NCLAT NCLAT Delhi Evokes Doctrine Of 'Approbate & Reprobate', Imposes Rs. 1 Lakh Cost On Creditor, Allowing Action For Contempt Case Title: Premjayanti Enterprises Pvt. Ltd. vs. Shivam Water Treaters Pvt. Ltd. Case No.: Comp. App. (AT) (Ins) No. 124 of 2023 The National Company Law Appellate Tribunal ('NCLAT') Delhi, comprising Justice Rakesh Kumar Jain (Judicial Member), Mr. Naresh Salecha (Technical Member), and Mr. Indevar Pandey (Technical Member) evokes the Doctrine ...