Month: July 2022

IBC – when admission is opposed on the ground of existence of an award or a decree in favour of the Corporate Debtor, and the Awarded/decretal amount exceeds the amount of the debt, the Adjudicating Authority would have to exercise its discretion under Section 7(5)(a) of the IBC to keep the admission of the application of the Financial Creditor in abeyance

SUPREME COURT OF INDIA DIVISON BENCH VIDARBHA INDUSTRIES POWER LIMITED — Appellant Vs. AXIS BANK LIMITED — Respondent ( Before : Indira Banerjee and J.K. Maheshwari, JJ. ) Civil Appeal…

Uttar Pradesh Consolidation of Holdings Act, 1953 – Section 9A(2) – Partition – Preliminary decree for partition granted in the suit of the year 1929 was never given effect to – There was no evidence to show who among the two namely, ‘S’ and ‘R’ died first, the Deputy Director of Consolidation righty found it equitable to distribute ‘S’ 1/3rd share equally between the branches of ‘R’ and ‘J’.

SUPREME COURT OF INDIA DIVISON BENCH SARJU MISHRA (D) THR. LRS. AND OTHERS — Appellant Vs. JANGI (D) THR. LRS. AND OTHERS — Respondent ( Before : Hemant Gupta and…

Insurance Claim – Deficiency in service – Delay in processing the claim and delay in repudiation could be one of the several factors for holding an insurer guilty of deficiency in service – But it cannot be the only factor – There was no categorical evidence of any deficiency in service on the part of the Insurance Company.

SUPREME COURT OF INDIA DIVISON BENCH M/S THE NEW INDIA ASSURANCE CO. LTD. AND ANOTHER — Appellant Vs. SHASHIKALA J. AYACHI — Respondent ( Before : Hemant Gupta and V.…