Category: Corporate

Registration Act, 1908 – Section 17(1)(d) – Leases of immovable property – Lease deeds allegedly executed between the defaulting rice miller(s) and the respondent(s), as they do not satisfy the statutory requirements of Section 17(1) (d) HELD The writ petitions filed by the respondent lessees are dismissed, however, with liberty to pay dues with penalty/interest of the original rice millers and thereafter on production of ‘No Dues Certificate’ seek allocation of paddy for custom milling in accordance with the policy of FCI.

SUPREME COURT OF INDIA FULL BENCH FOOD CORPORATION OF INDIA AND ANOTHER — Appellant Vs. M/S. V.K. TRADERS AND OTHERS — Respondent ( Before : S.A. Bobde, CJI , B.R.…

Income Tax Act, 1961 – Rule 16(2) – Attachment (DRT) – If an attachment has been made under Schedule II to the Act, any private transfer or delivery of the property shall be void as against all claims enforceable under the attachment HELD Rule 16(1) also stipulates that no civil court can issue any process against such property in execution of a decree for the payment of money. However, the property can be transferred with the permission of the Tax Recovery Officer.

SUPREME COURT OF INDIA DIVISION BENCH M/S. CONNECTWELL INDUSTRIES PRIVATE LIMITED — Appellant Vs. UNION OF INDIA THROUGH MINISTRY OF FINANCE AND OTHERS — Respondent ( Before : L. Nageswara…

Tender – Installation and maintenance of 74 videoscopes at various field formations of CBEC – direct that out of the payment to be made to M/s. ASVA Power Systems India Pvt. Ltd., a sum of Rs. 63 lakhs shall be deducted and orders with regard to that amount shall be passed after hearing the parties in detail at the time of final hearing.

SUPREME COURT OF INDIA DIVISION BENCH COMMISSIONER, DIRECTORATE OF LOGISTICS — Appellant Vs. ALMIGHTY TECHSERV, PROPRIETOR MR. MANISH DALMIA AND ANOTHER — Respondent ( Before : Deepak Gupta and Aniruddha…

IMP ::: Insolvency and Bankruptcy Code, 2016 – Sections 5(8) and 43 – Mortgage by a Corporate debtor to secure debts of third party not “Financial Debt” within meaning of Section 5(8) – Whether lenders of Jaiprakash Associates Limited could be treated as financial creditors, HELD it cannot be said that the corporate debtor owes them any ‘financial debt’ within the meaning of Section 5(8) of the Code; and hence, such lenders of Jaiprakash Associates Limited do not fall in the category of the ‘financial creditors’ of the corporate debtor Jaypee Infratech Limited – Appeals are allowed

SUPREME COURT OF INDIA DIVISION BENCH ANUJ JAIN INTERIM RESOLUTION PROFESSIONAL FOR JAYPEE INFRATECH LIMITED — Appellant Vs. AXIS BANK LIMITED ETC. ETC. — Respondent ( Before : A.M. Khanwilkar…

Colliery Control Order, 1945 – Whether the appellants were required to pay the price of coal consumed in their manufacturing process at a preferential rate, known in the trade parlance as “linked price”, or the price under a Liberalised Sales Scheme (LSS) – HELD Appellants did not have vested legal right to preferential pricing as linked consumers

SUPREME COURT OF INDIA DIVISION BENCH M/S. S.K.J. COKE INDUSTRIES LTD.& ANR. — Appellant Vs. COAL INDIA LTD. & ORS. — Respondent ( Before : Deepak Gupta and Aniruddha Bose,…

National Housing Bank Act, 1987 – Section 36 and 36 (A) – Reserve Bank of India Act, 1934 – Section 45(q)(a) – Insolvency and Bankruptcy Code, 2016 – Section 227 and 239(2)(zk) – Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicatory Authority), Rules, 2019 Rule 5 and 6 – Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – Regulation 6 – Administrator made a public announcement under Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – On 04.12.2019, public depositors were included as a class of creditors under Section 21 (6A) (b) of the IBC HELD It open to the Appellants to raise all points and contentions before the Committee of Creditors, the Administrator and if necessary, the NCLT

SUPREME COURT OF INDIA DIVISION BENCH VINAY KUMAR MITTAL AND OTHERS — Appellant Vs. DEWAN HOUSING FINANCE CORPORATION LTD. AND OTHERS — Respondent ( Before : L. Nageswara Rao and…

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