Corporate Archives - Page 5 of 27 - Supreme Court of India Judgements

February 23, 2025 2:39 pm

HELD that on approval of a scheme by the BIFR under the Sick Industrial Companies (Special Provisions) Act, 1985, the unsecured creditors has an option not to accept the scaling down value of its dues and to wait till the rehabilitation scheme of the sick company has worked itself out with an option to recover the debt with interest post such rehabilitation is erroneous and contrary to the scheme of SICA, 1985

Mar 19, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH MODI RUBBER LIMITED — Appellant Vs. CONTINENTAL CARBON INDIA LIMITED — Respondent ( Before : M.R. Shah and Sudhanshu Dhulia, JJ. ) Civil Appeal…

Corporate

Auction platform – Right of – Merely because a person is having a licence and doing business in a particular shop, he is not entitled to the auction platform as a matter of right and that too, in front of and/or adjacent to his shop.

Mar 7, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH GURJIT SINGH (D) THROUGH LRS — Appellant Vs. UNION TERRITORY, CHANDIGARH AND OTHERS — Respondent ( Before : M.R. Shah and B.V. Nagarathna, JJ.…

C P C Corporate

Injunction – While passing an order of injunction, the Courts are required to be guided by the principles of prima facie case, balance of convenience and irreparable injury – A blanket order directing maintenance of status quo in respect of the all 11 properties admeasuring 115 acres is not justified

Jan 29, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH DEVELOPER GROUP INDIA PRIVATE LIMITED — Appellant Vs. SURINDER SINGH MARWAH AND OTHERS — Respondent ( Before : B.R. Gavai and Vikram Nath, JJ.…

Corporate

What is the scope and ambit of S 111A of the 1956 Companies Act, as amended by S 59 of the 2013 Act, to rectify the register of members? – Held, Rectificatory jurisdiction under Section 59 of the 2013 Act is summary in nature and not intended to be exercised where there are contested facts and disputed questions

Jan 8, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH IFB AGRO INDUSTRIES LIMITED — Appellant Vs. SICGIL INDIA LIMITED AND OTHERS — Respondent ( Before : A.S. Bopanna and Pamidighantam Sri Narasimha, JJ.…

Banking Corporate

Non-banking financial companies – Interest received under Hire-Purchase Agreement – Liability to Pay Interest Tax – Held, the “interest” element cannot be compared to consideration for lease/hire, which is in the nature of remuneration (consideration) for hire.

Jan 8, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S. MUTHOOT LEASING AND FINANCE LIMITED AND ANOTHER — Appellant Vs. COMMISSIONER OF INCOME TAX — Respondent ( Before : Sanjiv Khanna and M.M.…

Corporate

Micro, Small and Medium Enterprises Development Act, 2006 – Section 18(2) – Arbitration and Conciliation Act, 1996 – Section 80 – Facilitation Council, which had initiated the Conciliation proceedings under Section 18(2) of the MSMED Act, 2006 would be entitled to act as an arbitrator despite the bar contained in Section 80 of the Arbitration Act.

Nov 15, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH GUJARAT STATE CIVIL SUPPLIES CORPORATION LIMITED — Appellant Vs. MAHAKALI FOODS PRIVATE LIMITED (UNIT 2) AND ANOTHER — Respondent ( Before : Uday Umesh…

Constitution Corporate

Benefit of Additional licence – Export of processed iron ore – Merely because some others are granted the benefit wrongly, the appellant cannot be permitted to pray for the similar benefits – There cannot be any negative discrimination which may perpetuate the illegality

Nov 14, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH CHOWGULE & COMPANY LIMITED — Appellant Vs. ASSISTANT DIRECTOR GENERAL OF FOREIGN TRADE AND OTHERS — Respondent ( Before : M.R. Shah and Krishna…

Constitution Corporate

Company Secretaries Regulations, 1982 – Regulations 92(2) and 117(2) – Applicability of Regulation 92(2) – Regulation 92(2) shall be applicable only in a case of absence and not in a case where the post of Chairman and/or office bearer has fallen vacant – There is a distinction between the absence and the post fallen vacant

Nov 13, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH INSTITUTE OF COMPANY SECRETARIES OF INDIA — Appellant Vs. BIMAN DEBNATH AND OTHERTS — Respondent ( Before : M.R. Shah and M.M. Sundresh, JJ.…

Consumer Corporate

Standard Fire & Special Perils policy – Once it is proved that there is a deficiency in service and that insurance company knowingly entered into a contract, notwithstanding the exclusion clause, the consequence would flow out of it HELD per the common law principle of acquiescence and estoppel, insurance cannot be allowed to take advantage of its own wrong, if any. It is a conscious waiver of the exclusion clause by insurance company.

Nov 13, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S TEXCO MARKETING PVT. LTD. — Appellant Vs. TATA AIG GENERAL INSURANCE COMPANY LTD. AND OTHERS — Respondent ( Before : Surya Kant and…

Banking Corporate

Sale Contract – Letter of credit – A letter of credit is independent of and unqualified by the contract of sale or underlying transactions – Autonomy of an irrevocable LOC is entitled to protection and as a rule, courts refrain from interfering with that autonomy – If courts interfere in such transactions, it would be prone to misuse by the applicant party

Nov 13, 2022 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S BAWA PAULINS PVT. LTD. — Appellant Vs. UPS FREIGHT SERVICES (INDIA) PVT. LTD. AND ANOTHER — Respondent ( Before : B.R. Gavai and…

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C P C

A suit in representative capacity (Order 1, Rule 8 CPC) is not maintainable if lacking locus standi, and a prior decree (res judicata) bars subsequent suits on the same subject matter, notwithstanding varying reliefs.

Feb 16, 2025 sclaw

Stamp Act State Laws

Agreement to sell immovable property incurs stamp duty as deemed conveyance via implied/symbolic possession transfer, with duty applying to the agreement (instrument), not the sale (transaction).

Feb 16, 2025 sclaw

Accident

The Supreme Court emphasized that the goal is to ensure just and fair compensation, even if it exceeds the claimed amount. It recalculated the compensation, considering the claimant’s monthly income, future prospects, 40% permanent disability, medical expenses, attendant charges, special diet and transportation, pain and suffering, and loss of income during treatment. The final compensation was determined to be Rs. 17,82,825, modifying the awards of the MACT and High Court. The Civil Appeal was allowed, with interest as awarded by the Tribunal. This decision underscores the principle of providing fair compensation to accident victims based on comprehensive assessment of their losses and suffering.

Feb 9, 2025 sclaw

Child Custody

In child custody cases, the lawpoint is that the welfare of the minor child is the paramount consideration, and a Habeas Corpus writ petition is maintainable only when the child’s detention is proven illegal or without legal authority

Feb 9, 2025 sclaw

Category: Corporate

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