The Supreme Court (“SC”) has in its judgment dated July 6, 2020 (“Judgment”) in the matter of Aruna Oswal v. Pankaj Oswal and Others [Civil Appeal No. 9340 of 2019], held that disputes pertaining to inheritance of shares cannot be pronounced upon in proceedings initiated under Sections 241 and 242 of the Companies Act, 2013 […]
We are glad to share the July 2020 edition of our newsletter – Competition News Bulletin. Some highlights of this issue are as under: CCI finds cartel in the domestic industrial and automotive bearings market but refrains from imposing penalty CCI fines Grasim for abusing its dominant position in the market for supply of VSF […]
The National Company Law Appellate Tribunal (“NCLAT”), in the case of Tata Consultancy Services Limited v. Vishal Ghisulal Jain (decided on June 24, 2020) has decided that a contract termination notice issued by Tata Consultancy Services Limited (“Appellant”) to S.K Wheels Private Limited (“Corporate Debtor”), a company undergoing Corporate Insolvency Resolution Process (“CIRP”) under the […]
The National Company Law Tribunal, Mumbai (“MNCLT”) has, by an Order dated June 9, 2020 (“Order”), allowed an application under Section 8 (power to refer parties to arbitration where there is an arbitration agreement) of the Arbitration and Conciliation Act, 1996 (“ACA”) thereby referring a matter pending before it to arbitration. The said Section 8 […]
The present appeal arose from order dated November 20, 2019 (“Impugned Order”) passed by the National Company Law Tribunal, Chennai (“NCLT”). By way of the Impugned Order, the NCLT had dismissed the liquidator’s application seeking permission to enable the sale of assets of ‘Surana Power Limited’ (“SPL”) on the basis of consent given by majority […]
The National Company Law Tribunal (“NCLT”), Mumbai in the matter of Riverdale Infrastructures Private Limited v. Kirloskar Ebara Pumps Limited, Ebara Corporation and Kirloskar Brothers Limited (decided on May 26, 2020), dismissed the appeal against refusal to register share transfer in a public company, thereby upholding the validity of clauses of joint venture agreement and […]
