Category: Corporate

Trade Marks Act, 1999 – S 85 and 87 – In the absence of any member, the chairperson may, if the occasion so arises, act as technical or judicial member – Section 87 enables a vice-chairperson, or as the case may be the senior-most member of the board to act as chairperson in the event of a vacancy to that position

SUPREME COURT OF INDIA FULL BENCH THE INTERNATIONAL ASSOCIATION FOR PROTECTION OF INTELLECTUAL PROPERTY (INDIA GROUP) — Appellant Vs. UNION OF INDIA — Respondent ( Before : L. Nageswara Rao,…

Societies Registration Act, 1860 – Sections 10 and 24 – Held, the appellants who are otherwise eligible to be enrolled as members of the Society in their own rights need not be denied of the same – They have a right to be considered for being admitted as members of the Society by the newly elected Managing Committee.

SUPREME COURT OF INDIA DIVISION BENCH SWATI ULHAS KERKAR AND OTHERS — Appellant Vs. SANJAY WALAVALKAR AND OTHERS — Respondent ( Before : A.M. Khanwilkar and S. Ravindra Bhat, JJ.…

Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 – Regulations 18(15)(c) and 39(2)(a) – Winding up of mutual fund schemes – Consent of the unit holders would mean consent by majority of the unit holders who have participated in the poll, and not consent of majority of all the unit holders of the scheme.

SUPREME COURT OF INDIA DIVISION BENCH FRANKLIN TEMPLETON TRUSTEE SERVICES PRIVATE LIMITED AND ANOTHER — Appellant Vs. AMRUTA GARG AND OTHERS ETC — Respondent ( Before : S. Abdul Nazeer…

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.

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.…

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

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…

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.

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…

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

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 )…

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