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Between the Lines | NCLAT: There is no conflict between Section 17B of the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and the Insolvency and Bankruptcy Code, 2016

The National Company Law Appellate Tribunal (“NCLAT”) has in its judgement dated March 11, 2022 (“Judgement”), in the matter of Sikander Singh Jamuwal v. Vinay Talwar Resolution Professional and Others [Company Appeal (AT) (Ins)No. 483 of 2019] held that there was no conflict between Section 17B (Liability in case of transfer of establishment) of the […]

Between the Lines | NCLT: Resolution Plan cannot be rejected on a perceived grievance by a suspended director who failed to take steps

The National Company Law Tribunal, Kolkata (“NCLT”) has in its order dated February 17, 2022 (“Order”), in the matter of Anand Kariwala v. Partha Pratim Ghosh and Others [I.A. (IB) No. 20/KB/2021 in CP (IB) No. 533/KB/2018], held that a resolution plan cannot be rejected on a perceived grievance by a member of the suspended […]

Between the Lines | BHC: Once parties acknowledge existence of arbitration clause, court can appoint arbitrator even if stamp duty is insufficiently paid

The Bombay High Court (“BHC”) has in the judgement dated February 28, 2022 (“Judgement”), in the matter of Pigments and Allieds v. Carboline (India) Private Limited and Official Liquidator and Liquidator of Octamec Engineering Limited [Arb. Application 225 of 2016] held that once parties acknowledge existence of arbitration clause, court can appoint arbitrator even if […]

Between the Lines | Supreme Court: Compensation in lieu of specific performance cannot be granted under the Specific Relief Act, 1963 unless specifically claimed in the plaint

The Hon’ble Supreme Court of India (“SC”) has in its judgement dated February 18, 2022 (“Judgement”), in the matter of Universal Petro Chemicals Limited v. B.P. PLC and Others [Civil Appeal No.3128 of 2009], held that compensation in lieu of specific performance cannot be granted under the Specific Relief Act, 1963 (“SRA”) unless specifically claimed […]

Between the Lines | DHC: Multiple arbitrations can exist if the cause of action continues or arises after the constitution of a tribunal

The High Court of Delhi (“DHC”) has in its judgment dated January 17, 2022 (“Judgement”), in the matter of Panipat Jalandhar NH 1 Tollway Private Limited v. National Highways Authority Of India [ARB.P. 820/2021], held that multiple arbitrations can exist if the cause of action continues or arises after the constitution of a tribunal. Facts […]

Between the Lines | NCLAT: No possibility negotiating the resolution plan in the intervening period between approval by the CoC, and pending the approval of the NCLT

The Hon’ble National Company Law Appellate Tribunal, New Delhi (“NCLAT”) has in its judgment dated January 27, 2022, in the matter of Union Bank of India v. Kapil Wadhawan and Others [Company Appeal (AT) (Insolvency) No. 370, 376-377 & 393 of 2021] (“Judgement”) held that once the resolution plan is approved by the Committee of […]