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NCLAT upholds CCI’s order approving acquisition of Hindustan National Glass and Industries Limited by AGI Greenpac Limited

National Company Law Appellate Tribunal (“NCLAT”) has, collectively in the matters of: The U.P. Glass Manufacturers Syndicate v. Competition Commission of India and Others [Competition Appeal (AT) No. 07 of 2023]; Independent Sugar Corporation Limited v. Competition Commission of India and Another [Competition Appeal (AT) No. 08 of 2023]; Geeta and Company v. Competition Commission […]

Calcutta High Court: Application for removal of arbitrator must be made before the same court as envisaged in Sections 2(i)(e) and 42 of the Arbitration and Conciliation Act, 1996

The Calcutta High Court (“Calcutta HC”) has, in its judgement dated August 11, 2023, in the matter of M/s. Gammon Engineers and Contractors Private Limited v. The State of West Bengal [A.P. No. 785 of 2022], held that an application for removal of an arbitrator must be made before the same ‘court’ as envisaged in […]

Bombay High Court: Secured creditor may initiate recovery proceedings against secured asset owned by guarantor even if principal borrower is placed under moratorium

The High Court of Bombay, at Mumbai (“High Court”) has, by judgment pronounced on July 20, 2023, in the matter of Mr. Latif Yusuf Manikkoth v. The Board of Directors of the Bank of Baroda and Others [Writ Petition (L) No. 9116 of 2023], inter alia, held that Section 14 (Moratorium) of the Insolvency and […]

Legalaxy – Monthly Newsletter Series – Vol IV – September 2023

We are pleased to share with you the link to our newsletter “Legalaxy” for September 2023, providing updates on the recent and relevant legal developments in India. Below are the key highlights of the newsletter: SEBI reduces the timeline for Listing of Shares in Public Issue SEBI reduces Overseas Investment Timeline for Alternative Investment and Venture […]

India’s Chandrayaan Moonshot – Time for a Robust Legislative Foundation to Govern India’s Space Sector

From discovering water on the moon in 2008, and reaching Mars in its very first attempt in 2014, to being the first country to soft land its lunar exploration mission, Chandrayaan-3, on the south pole of the moon on August 23, 2023, India has taken rapid strides in space exploration. The Indian Space Research Organisation […]

NCLAT: Avoidance application can continue after the completion of CIRP

The National Company Law Appellate Tribunal, New Delhi Bench (“NCLAT”), in the matter of Kapil Wadhawan v. Piramal Capital and Housing Finance Limited and Others [Company Appeal (AT) (Insolvency) Nos. 437, 439, 441, 442, 445, 451, 452 and 512 of 2023], held that avoidance applications can continue even after completion of Corporate Insolvency Resolution Process (“CIRP”). […]