The Hon’ble Supreme Court (“SC”) by its judgment in Chintels India Limited v. Bhayana Builders Private Limited [Civil Appeal No. 4028 of 2020], on February 11, 2021, held that refusal to condone delay under Section 34(3) of the Arbitration and Conciliation Act, 1996 (“1996 Act”) was appealable under Section 37 of the 1996 Act. Facts […]
The Supreme Court (“SC”) has in its judgment dated March 26, 2021, in the matter of Laxmi Pat Surana v. Union Bank of India and Another [Civil Appeal No. 2734 of 2020], held that a principal borrower need not be a ‘corporate person’ where insolvency proceedings are initiated against a company which acted as the […]
The Hon’ble Supreme Court (“SC”) has in its judgment dated March 26, 2021 (“Judgement”), in the matter of Indus Biotech Private Limited v. Kotak India Venture (Offshore) Fund and Others [Arbitration Petition No.48 of 2019 with Civil Appeal No.1070/2021 arising out of SLP (C) NO. 8120 OF 2020], held that an application seeking reference to […]
The Hon’ble Supreme Court (“SC”) has in its judgment dated April 20, 2021 (“Judgement”), in the matter of PASL Wind Solutions Private Limited v. GE Power Conversion India Private Limited [CIVIL APPEAL NO. 1647 OF 2021], held that the parties to a contract who are Indian nationals or companies incorporated in India can choose a […]
The Supreme Court (“SC”) has in its judgement dated March 22, 2021, in the matter of Sesh Nath Singh & Another v. Baidyabati Sheoraphuli Co-Operative Bank Limited and Another [Civil Appeal No. 9198 of 2019] (“Judgement”) held that provisions of the Limitation Act, 1963 (“Act”) would apply mutatis mutandis to proceedings under the Insolvency and […]
The National Company Law Tribunal, Mumbai bench (“NCLT”) has in its order dated March 09, 2021 (“Judgement”), in the matter of Gaurav Jain v. Sanjay Gupta [IA No. 2264 of 2020 in C.P.(IB)No. 1239/MB/2018], allowed an application seeking reliefs essential to run a corporate debtor sold as ‘going concern’ during liquidation. Facts The Bank of […]
