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”). […]
The Supreme Court of India (“Supreme Court”), vide its judgement jointly in the matter of Moser Baer Karamchari Union Through President Mahesh Chand Sharma v. Union of India and Others [Writ Petition (C) No. 421 of 2019], Manoj Kumar Nagar v. Union of India [Writ Petition (C) No. 777 of 2020], and Raj Kumar Verma […]
The National Company Law Appellate Tribunal, New Delhi (“NCLAT”), by way of a common judgment dated July 4, 2023, in the matter of Naren Seth v. Sunrise Industries and Others [Company Appeal (AT) (Insolvency) No. 401 of 2023] and Marine Electricals (India) Limited v. Sunrise Industries and Others [Company Appeal (AT) (Insolvency) No. 695 of […]
The Calcutta High Court (“Calcutta HC”) has, in its judgement dated June 23, 2023, in the matter of Jaldhi Overseas Private Limited v. Steer Overseas Private Limited [(2023) SCC OnLine Cal 1628], held that courts cannot re-appreciate the evidence or substitute its view with that of the arbitrator while considering the issue of enforcement of […]
We are pleased to share with you the link to our newsletter “Legalaxy” for August 2023, providing updates on the recent and relevant legal developments in India. Below are the key highlights of the newsletter: SEBI specifies BRSR Core Framework for Assurance and ESG Disclosures for Value Chain and its applicability SEBI notifies (Alternative Dispute Resolution […]
As per the extant guidelines on overseas investments, alternative investment funds (“AIFs”) and venture capital funds (“VCFs”) had a time limit of 6 months from the date of obtaining prior approval from Securities and Exchange Board of India (“SEBI”) for making allocated investments in offshore venture capital undertakings. In case the applicant AIFs/ VCFs do […]
