Monthly Digest Of IBC Cases: July 2024

Supreme Court IBC | CIRP Of Holding Company Cannot Include Subsidiary's Assets: Supreme Court Case no. – Civil Appeal No. 4565 of 2021 Case Title – BRS Ventures Investments Ltd. v. SREI Infrastructure Finance Ltd. & Anr. The Supreme Court on Monday (July 23) held that a holding company is not the owner of its subsidiary's assets and thus, subsidiary assets cannot be included in the holding company's resolution plan. A bench of Justice Abhay Oka and Justice Pankaj Mithal...

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. ...

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...

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...

Allahabad High Court Monthly Tax Digest: April 2024

INDEXM/S United Spirits Limited v. State Of U.P. And 3 Others 2024 LiveLaw (AB) 222The Commissioner, Commercial Tax U.P. v. M/S Godfrey Philips India Limited 2024 LiveLaw (AB) 223 M/S Eco Plus Steels Pvt. Ltd. v. State Of U.P. And 3 Others 2024 LiveLaw (AB) 224Commissioner, Commercial Tax v. S/S Soma Enterprises Ltd 2024 LiveLaw (AB) 225Durga Steel Rolling Mills Thru. Partner Amit Arora v. Commissioner Of Commercial Taxes UP Lucknow 2024 LiveLaw (AB) 228Dipak Kumar Agarwal v. Assessing Officer...

Monthly Digest Of IBC Cases: April 2024

Supreme Court When Does Debt Become Financial Debt & Operational Debt Under IBC? Supreme Court Explains Case Title: Global Credit Capital Limited & Anr. Versus Sach Marketing Pvt. Ltd. & Anr. Citation: 2024 LiveLaw (SC) 331 The Supreme Court bench comprising Justice Abhay S. Oka and Justice Pankaj Mithal, has held that debt would be treated as an operational debt only if the claim subject matter of the debt has some connection or co-relation with the 'service'...