The Hon’ble Supreme Court of India passed a judgment on 15.10.2019 in an appeal filed by the Union of India against an interim order dated 16.05.2019 passed by the Division Bench of the Delhi High Court in a writ petition filed by Mr. Gautam Khaitan restraining the Union of India from taking any action against […]
The National Company Law Appellate Tribunal (“NCLAT”) in Mr. Hemang Phophalia v. The Greater Bombay Co-operative Bank Limited and Another (decided on September 05, 2019) has held that a creditor can file an application requiring the restoration of the name of a dissolved/struck-off company in the register of companies for initiating a Corporate Insolvency Resolution […]
The Supreme Court in M/s. Canara Nidhi Limited v. M. Shashikala and Others (decided on September 23, 2019) held that in proceedings under Section 34 of the Arbitration and Conciliation Act, 1996 (“Act”), additional evidence can be permitted to be adduced only in exceptional circumstances. FACTS M/s. Canara Nidhi Limited (“Appellant”) is a financial institution […]
The National Company Law Appellate Tribunal (“NCLAT”) has, in the case of Hero Fincorp Limited v. Rave Scans Private Limited and Others (dated September 17, 2019) held that dissenting financial creditors cannot be discriminated against in a resolution plan. FACTS Corporate Insolvency Resolution Process (“CIRP”) was initiated against Rave Scans Private Limited (“Rave Scans”) on […]
In the recent judgment of Mr. Ashish Mahendrakar v. State of Maharashtra and Others (decided on September 13, 2019), the Hon’ble Bombay High Court declared that an inter-corporate deposit/loan, that is, a loan advanced/deposit made by a company with another company would not amount to a “deposit” within the meaning and for the purpose of […]
We are pleased to share the October 2019 edition of our newsletter- Competition News Bulletin. Some highlights of this issue are as under: CCI Imposes Penalty on LPG Gas Vendors for Cartelization in Bidding Process in tender floated by HPCL CCI imposes penalty for collusive bidding in tender floated by Pune Municipal Corporation CCI orders […]
