Supreme Court of India Judgements

46468 Judgements hosted as on 12/05/2024 - Search (FREE), Subscribe, Read & Download

Category: Corporate

Corporate

IBC – A person having only security interest over the assets of corporate debtor, even if falling within the description of ‘secured creditor’ by virtue of collateral security extended by the corporate debtor, would not be covered by the financial creditors as per definitions contained in sub-section (7) and (8) of Section 5.

Feb 14, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH PHOENIX ARC PRIVATE LIMITED — Appellant Vs. KETULBHAI RAMUBHAI PATEL — Respondent ( Before : Ashok Bhushan, R. Subhash Reddy and M.R. Shah, JJ.…

Corporate

IBC – – Held, Exclusion under the first proviso to Section 21(2) is related not to the debt itself but to the relationship existing between a related party financial creditor and the corporate debtor – As such, the financial creditor who in praesenti is not a related party, would not be debarred from being a member of the Committee of Creditors

Feb 14, 2021 sclaw

1/37 SUPREME COURT OF INDIA FULL BENCH PHOENIX ARC PRIVATE LIMITED — Appellant Vs. SPADE FINANCIAL SERVICES LIMITED AND OTHERS — Respondent ( Before : Dr Dhananjaya Y Chandrachud, Indu…

Corporate

Companies Act, 1956 – Ss 397 & 398 – Oppression and Mismanagement – On Insolvency and Bankruptcy Code 2016, coming in force, the proceedings which are pending before the CLB, now stand transferred to the National Company Law Tribunal (NCLT) – It would be appropriate for the parties to invoke the jurisdiction of NCLT for seeking such orders as deemed fit in the facts and circumstances in accordance with law.

Jan 19, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH RAMA NARANG — Appellant Vs. RAMESH NARANG AND OTHERS — Respondent ( Before : A.M. Khanwilkar and B. R. Gavai, JJ. ) Contempt Petition…

Corporate

Appellant the importer of goods & cleared them for home consumption, the natural consequence of raising of such debit notes on the end-buyers situated in different States and movement of goods to such end-buyers would be to take these transactions in the category of inter-State sales in terms of Section 3(a) of the CST Act – Appellant was not entitled to the exemption of Section 5(2) of the CST Act

Jan 17, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S VELLANKI FRAME WORKS — Appellant Vs. THE COMMERCIAL TAX OFFICER, VISAKHAPATNAM — Respondent ( Before : A.M. Khanwilkar and Dinesh Maheshwari, JJ )…

Corporate

Competition Act, 2002 – Section 3 – Anti-competitive agreements – Ola and Uber do not facilitate cartelization or anti-competitive practices between drivers, who are independent individuals, who act independently of each other, so as to attract the application of section 3 of the Act, as has been held by both the CCI and the NCLAT.

Dec 17, 2020 sclaw

SUPREME COURT OF INDIA FULL BENCH SAMIR AGRAWAL — Appellant Vs. COMPETITION COMMISSION OF INDIA AND OTHERS — Respondent ( Before : Rohinton Fali Nariman, K.M. Joseph and Krishna Murari,…

Corporate

Winding up proceeding pending – Transfer of – High court to NCLT -Words “party or parties” appearing in the 5th proviso to Clause (c) of Sub-section (1) of Section 434 would take within its fold any creditor of the company in liquidation – If any creditor is aggrieved by any decision of the official liquidator, he is entitled under the 1956 Act to challenge the same before the Company Court

Dec 17, 2020 sclaw

SUPREME COURT OF INDIA FULL BENCH ACTION ISPAT AND POWER PRIVATE LIMITED — Appellant Vs. SHYAM METALICS AND ENERGY LIMITED — Respondent ( Before : Rohinton Fali Nariman, K.M. Joseph…

Corporate

Construction of Elevated Corridor (Flyover) – Rejection of bid on ground that bidder suppressed information required under paragraph 13 of Appendix IA – State of Madhya Pradesh is directed to issue a LOI as soon as is practically possible to “R” insofar as the present tender is concerned at the same financial bid as that of UPSBC.

Dec 13, 2020 sclaw

SUPREME COURT OF INDIA DIVISION BENCH THE STATE OF MADHYA PRADESH AND ANOTHER — Appellant Vs. U.P. STATE BRIDGE CORPORATION LIMITED AND ANOTHER — Respondent ( Before : Rohinton Fali…

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I P C

Penal Code, 1860 (IPC) – Sections 376(2)(g) and 506(1) – Tamil Nadu Prevention of Women Harassment Act, 1998 – Section 4 – Gang Rape – The victim’s testimony, along with her mother and aunt’s statements, was consistent with the initial complaint and corroborated by medical evidence – The defense argued that the long gap between the victim’s examination-in-chief and cross-examination led to inconsistencies in the witnesses’ testimonies – Whether the long gap between the victim’s examination-in-chief and cross-examination led to inconsistencies in the witnesses’ testimonies – The inconsistencies in the witnesses’ testimonies were not significant and did not affect the overall credibility of the evidence – The court dismissed the appeal and upheld the conviction of the appellant for gang rape and related charges – The court rejected the defense’s argument that the long gap between the victim’s examination-in-chief and cross-examination led to inconsistencies in the witnesses’ testimonies – The court found that the evidence presented was sufficient to convict the appellant for gang rape and related charges – The Supreme Court found that the evidence presented was sufficient to convict the appellant and rejected the defence’s arguments regarding inconsistencies in the witnesses’ testimonies.

May 12, 2024 sclaw
Limitation

Dismissal of Civil Suit – Condonation of delay – Standing to file an application – The court clarified that only parties to a suit or those who have accrued a right in the lis can file an application for condonation of delay in filing an application for restoration of the suit. A stranger to the proceedings cannot file such an application.

May 12, 2024 sclaw
Limitation

Limitation Act, 1963 – Haryana Public Moneys (Recovery of Dues) Act, 1979 – Section 3(1)(b) – State Financial Corporation Act, 1951 – Section 29 – The appeals arise from a High Court judgment regarding the recovery of time-barred debts under the Act, 1979, and the Act, 1951 – The main issue is whether a debt time-barred under the Limitation Act can be recovered using the aforementioned Acts – The appellants argued that time-barred debts cannot be recovered under the Recovery of Dues Act, citing the precedent set in V.R. Kalliyanikutty – The respondents argued that the Recovery of Dues Act and the State Financial Corporations Act allow for time-barred debt recovery, as they only bar the remedy, not the right – The court examined whether the Recovery of Dues Act creates a new right for creditors and allows for time-barred debt recovery – The court discussed the distinction between a debt and the right of action for its recovery, noting that the statute of limitation bars the latter but not the former – The court concluded that the Recovery of Dues Act and the State Financial Corporations Act provide an alternative mechanism for recovering debts, even if they are time-barred – Matter needs to be placed before the Hon’ble Chief Justice of India to constitute an appropriate three-judge bench.

May 12, 2024 sclaw
Consumer

Consumer Law – Policy Claim – The appellants, family of the deceased, filed a complaint after the LIC repudiated their claim on a policy following the policyholder’s accidental death – The main issue was whether there was a concluded contract between the deceased and LIC at the time of his death, which would obligate LIC to pay the insurance benefits – The appellants argued that LIC had accepted the first premium and issued a receipt, thereby assuming risk and concluding the contract before the policyholder’s death – LIC contended that the policy was not communicated to the deceased and was blocked due to his demise, implying no concluded contract existed – The Supreme Court set aside the NCDRC’s order, restored the District Forum’s order in favor of the appellants, and directed LIC to pay the insurance benefits as per the policy terms – The Court found clear presumption of acceptance of the policy by LIC, as the first premium receipt indicated the corporation was on risk from the receipt date – The Court relied on precedents that establish the principles of insurance contracts and the obligations of good faith expected from insurers – The Supreme Court concluded that LIC had indeed entered into a contract with the policyholder before his death, and thus, was liable to pay the insurance benefits to the appellants.

May 12, 2024 sclaw