February 19, 2021 In Blog, Uncategorized

SUPREME COURT DIRECTS TELANGANA STATE GOVERNMENT TO REFUND PROJECT COSTS TO UNITECH LIMITED

The #SupremeCourt has recently passed a Judgment dated 17-02-2021 in Unitech Limited and Others vs Telangana State Industrial Infrastructure, whereby, the Apex Court decided upon issues of #refund of #project related #costs from the #StateGovernment of Telangana and Andhra Pradesh….

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February 14, 2021 In Blog, Uncategorized

SUPREME COURT DECIDED UPON APPEALABLE ORDERS UNDER THE ARBITRATION ACT 1996

The #SupremeCourt has in a recent case of Chintels India Ltd vs Bhayana Builders Pvt Ltd passed a Judgment dated 11-02-2021 on whether an #order refusing to #condone the #delay in filing an #Application under Section 34 of…

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February 14, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT BAR ON DEFAULT PROVISIONS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 APPLIES RETROSPECTIVELY

An Ordinance was promulgated by the President of India on 05.06.2020 by which Section 10A was inserted into the Insolvency and Bankruptcy Code, 2016 (“#IBC”). Section 10A of the IBC suspends the proceedings against initiation of Corporate #Insolvency…

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February 13, 2021 In Blog, Uncategorized

LOK SABHA PASSES ARBITRATION AND CONCILIATION (AMENDMENT) BILL, 2021

The Lok Sabha has passed the #Arbitration and Conciliation (Amendment) Bill, 2021 (the Bill). The Bill which was introduced in the #LokSabha on February 4, 2021 by Law Minister Ravi Shankar Prasad seeks to #amend the Arbitration and…

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February 6, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS MONEY LAUNDERING HAS TO BE RECORDED UNDER THE PREVENTION OF MONEY LAUNDERING ACT, 2002

The Three Judge Bench of the Hon’ble #SupremeCourt of India comprising of Justices S.A. Bobde, A.S.Bopanna and V. Ramasubramanian passed a Judgment dated 03.02.2021 in the case of OPTO Circuit India Ltd. v. Axis Bank & Ors. {CRIMINAL…

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February 6, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS COLLUSIVE AND SHAM TRANSACTIONS WITH CORPORATE DEBTOR NOT CONSIDERED AS FINANCIAL DEBT

The Three Judge Bench of the #SupremeCourt has in a recent case of Phoenix Arc Private Limited vs Spade Financial Services Limited & Ors. passed a Judgment dated 01-02-2021 and held that firstly, as the Respondents are not…

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February 1, 2021 In Blog, Uncategorized

Union Budget 2021-22: The Road Ahead in Difficult Times

The #FinanceMinister, Smt. Nirmala Sitharaman has presented the #UnionBudget 2021-22 on 01-02-2021. Possibly this was one of the toughest Budgets to plan in the wake of COVID-19. Please find below the Presentation on Highlights of the Union Budget…

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January 31, 2021 In Blog, Uncategorized

DELHI HIGH COURT REFUSES INJUNCTION AGAINST FILM ‘THE WHITE TIGER’

The #DelhiHighCourt has in a recent case of Mr. John Hart Jr. and Anr. vs Mr. Mukul Deora and Others, passed a Judgment dated 21-01-2021 and reiterated the principles of grant and refusal of #injunction, especially, in cases…

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January 30, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT HOME BUYERS CAN FILE INSOLVENCY PROCEEDINGS IF THEY CONSIST OF TEN PERCENT OF THE ALLOTTEES IN THE PROJECT

The Three Judge Bench of the Hon’ble #SupremeCourt of India comprising of Justices Rohinton Fali Nariman, Navin Sinha and K.M. Joseph passed a Judgment dated 19-01-2021 in the case of Manish Kumar v. Union of India and Another…

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January 30, 2021 In Blog, Uncategorized

WHETHER A COMPANY PURCHASING A COMMERCIAL SPACE IS A CONSUMER UNDER THE CONSUMER PROTECTION ACT

Recently, the National Consumer Redressal Commission, New Delhi (‘NCDRC’) in the case of Freight System (India) (P) Ltd. v. Omkar Realtors and Developers (P) Ltd., (Consumer Case No. 886/2020), vide its Judgment dated 25.01.2021 held that a company…

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