The Supreme Court in its judgement dated February 26, 2020, in the case of Anuj Jain, Interim Resolution Professional for Jaypee Infratech Limited v. Axis Bank Limited, has clarified several issues including the scope and ambit for adjudication of preferential transactions, and the nature of financial debt particularly in relation to third-party mortgages amongst others. […]
We are glad to share the March 2020 edition of our newsletter – Competition News Bulletin . Some highlights of this issue are as under: NCLAT sets aside CCI’s order and directs investigation against Flipkart for alleged abuse of dominant position CCI directs investigation against Amazon and Flipkart for alleged exclusive tie-ups and preferential terms […]
Vivad se Vishwas Scheme (‘the Scheme’) was announced by the Union Finance Minister Smt. Nirmala Sitharaman in her budget speech on February 1, 2020. The Scheme aims to – (i) settle pending direct tax cases (around 4,83,000 cases) before various forums; (ii) generate timely revenues; and (iii) save time and energy to taxpayer and the […]
The National Company Law Tribunal, Ahmedabad Bench (“NCLT”) in the case of Bhavi Shreyansh Shah, Resolution Professional for VS Texmills Private Limited v. Canara Bank and Others (decided on January 01, 2020) held that as per the provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”) automatic waiver of legal proceedings by/ against a corporate […]
The Supreme Court of India (“SC”) has, in the case of Pawan Hans Limited and Others v. Aviation Karmachari Sanghatana and Others (decided on January 17, 2020), held that the contractual employees in an establishment (not hired through a contractor) are also entitled to provident fund (“PF”) benefits. Facts Pawan Hans Limited (“Appellant”) is a […]
An application had been filed by home buyers, Shilpa Jain and Akash Jain (collectively, “Respondents”) under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (“CIRP”) against Raheja Developers (“Corporate Debtor”). The National Company Law Tribunal, Special Bench at New Delhi (“NCLT”) by order dated August 20, 2020 (“Impugned […]
