April 11, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT BUSINESS RUN BY KARTA OF HINDU UNDIVIDED FAMILY CANNOT BE PRESUMED TO BE A JOINT FAMILY BUSINESS

The 3-Judges Bench of the Hon’ble #SupremeCourt of India in the case of Kiran Devi vs Bihar State Sunni Wakf Board & Ors. [CIVIL APPEAL NO. 6149/2015], vide its Judgment dated 05.04.2021 held that a…

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April 4, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT INSOLVENCY PROCEEDING IS MAINTAINABLE AGAINST A CORPORATE GUARANTOR OF A NON CORPORATE PRINCIPAL BORROWER

The Supreme Court of India in the case of Laxmi Pat Surana versus Union Bank of India & Anr. [Civil Appeal No. 2734/2020], vide Judgment dated 26.03.2021 held that #CorporateInsolvencyResolutionProceedings under Section 7 of the…

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April 4, 2021 In Blog, Uncategorized

SUPREME COURT DISMISSES INSOLVENCY APPLICATION FILED DURING PENDENCY OF ARBITRATION PROCEEDINGS

The 3 Judge Bench of the Supreme Court has recently passed a Judgment dated 26-03-2021 in Indus Biotech Private Limited vs Kotak India Venture and Others, where the Apex Court decided upon the issue that…

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April 4, 2021 In Blog, Uncategorized

SUPREME COURT DISMISSES INSOLVENCY APPLICATION FILED DURING PENDENCY OF ARBITRATION PROCEEDINGS

The 3 Judge Bench of the #SupremeCourt has recently passed a Judgment dated 26-03-2021 in Indus Biotech Private Limited vs Kotak India Venture and Others, where the Apex Court decided upon the issue that whether…

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April 4, 2021 In Blog, Uncategorized

ACT FOR FINANCING INFRASTRUCTURE RECEIVES PRESIDENT’S ASSENT

On 28-03-2021, the National Bank For Financing Infrastructure and Development Act (the Act), 2021 received #Presidentialassent. The Act which seeks to establish the National Bank for Financing Infrastructure and Development (#NBFID) as the principal Development…

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April 4, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT LIMITATION ACT, 1963 IS APPLICABLE TO THE INSOLVENCY PROCEEDINGS UNDER IBC

The #SupremeCourt of India in the case of Sesh Nath Singh & Anr. versus Baidyabati Sheoraphuli Co-Operative Bank Ltd and Anr. [Civil Appeal NO. 9198 OF 2019], vide its Judgment dated 22.03.2021 held that the…

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March 28, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS THAT ADJUDICATORY AUTHORITY CANNOT MODIFY A RESOLUTION PLAN

The Three Judge Bench of the Hon’ble #SupremeCourt of India comprising of Justices A.M. Khanwilkar, Dinesh Maheshwari and Sanjiv Khanna passed a Judgment dated 24.03.2021 in the case of Jaypee Kensington Boulevard Apartments Welfare Association…

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March 28, 2021 In Blog, Uncategorized

DELHI HIGH COURT HOLDS OBJECTIONS REGARDING JURISDICTION UNDER ARBITRATION AND CONCILIATION ACT, 1996 HAS TO BE RAISED AT THE INCEPTION

A Single Judge Bench of the Hon’ble #HighCourt of #Delhi comprising of Justice Pratibha M Singh passed a Judgment dated 25-03-2021 in the case of Surender Kumar Singhal & Ors. v. Arun Kumar Bhalotia &…

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March 28, 2021 In Blog, Uncategorized

SUPREME COURT HOLDS REFERENCE TO ARBITRATION IS MAINTAINABLE INSOLVENCY PETITION IS NOT ADMITTED

Recently, the three-Judges Bench of the #SupremeCourt of India in the case of Indus Biotech Private Limited vs. Kotak India Venture (Offshore) Fund [Arb. Petition (Civil) 48/2019], vide Judgment dated 26.03.2021 held that #Arbitration Reference…

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March 28, 2021 In Blog, Uncategorized

SUPREME COURT ALLOWS REMEDIAL MEASURES FOR MICRO, SMALL AND MEDIUM ENTERPRISES

The #SupremeCourt has in a recent case of Small Scale Industrial Manufactures Association (Regd.) vs Union of India and others passed a Judgment dated 23-03-2021, whereby, the Apex Court allowed some of the #remedialmeasures sought…

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