The National Company Law Appellant Tribunal, Principal Bench, New Delhi (“NCLAT”) has in its judgement dated September 2, 2022 (“Judgement”), in the matter Sumat Kumar Gupta v. Committee of Creditors of M/s. Vallabh Textiles Company Limited [Company Appeal (AT) (Insolvency) No. 1037 of 2022] held that when the Committee of Creditors (“CoC”) decides to replace the […]
The Division Bench of Supreme Court (“SC”), vide its judgment dated September 1, 2022 in the matter of Morgan Securities and Credits Private Limited v. Videocon Industries Limited [Civil Appeal No. 5437 of 2022] held that the arbitral tribunal has discretion under Section 31(7)(b) of the Arbitration and Conciliation Act, 1996 (“Act”) to grant post-award […]
The Supreme Court (“SC”) has in its judgment dated September 6, 2022 in the matter of K. Paramasivam v. The Karur Vysya Bank Limited and Others [Civil Appeal No. 9286 of 2019] held that the Corporate Insolvency Resolution Process (“CIRP”) can be initiated against the corporate debtor without proceeding against the principal borrower. Facts Mr. […]
The Supreme Court (“SC”) has, in its judgment dated September 19, 2022, in the case of Securities and Exchange Board of India v. Abhijit Rajan [Civil Appeal No. 563 of 2020], held that in deciding cases pertaining to insider trading, the actual gain or loss is immaterial, but the motive for making a gain is […]
We are pleased to share with you a copy of our latest publication of GST Café, a briefing on recent notification wherein the CBIC has notified the provisions of sections 100 to 114, except clause (c) of section 110 and section 111, of the Finance Act, 2022, to be effective from 1st October 2022. We […]
The National Company Law Tribunal, Mumbai (“NCLT/ Adjudicating Authority”) has in its judgement dated July 29, 2022 (“Judgement”), in the matter of M/S Ravi Infrastructure and Projects v. KSS Petron Private Limited [CP (IB) 1202/MB/C-II/2017] held that Section 14 (Moratorium) of the Insolvency and Bankruptcy Code, 2016 (“IBC“) does not differentiate between assessment, quasi-judicial or […]
