Supreme Court of India Judgements

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Category: I B C

I B C

Section 15 of the IBC and Regulation 6 of the IBBI Regulations mandate a public announcement of the CIRP through newspapers – This would constitute deemed knowledge on the appellant – In any case, their plea of not being aware of newspaper pronouncements is not one which should be available to a commercial party.

Sep 23, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S. RPS INFRASTRUCTURE LTD. — Appellant Vs. MUKUL KUMAR AND ANOTHER — Respondent ( Before : Sanjay Kishan Kaul and Sudhanshu Dhulia, JJ. )…

I B C

Insolvency and Bankruptcy Code, 2016 – Section 5(24) – ‘related party’ – if an individual is a director of a private or public company and, along with relatives, holds more than two percent of the company’s share capital or paid-up share capital, that company is considered a ‘related party.’ – The explanation also specifies that both maternal and paternal uncles fall under the definition of ‘related party.’

Sep 19, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH EVA AGRO FEEDS PRIVATE LIMITED — Appellant Vs. PUNJAB NATIONAL BANK AND ANOTHER — Respondent ( Before : B. V. Nagarathna and Ujjal Bhuyan,…

Customs & Excise I B C SARFAESI

HELD the enactment of section 142A of the Customs Act does confer or create a first charge on the dues ‘payable’ under the Customs Act, notwithstanding provisions under any Central Act, but not in cases covered under Section 529A of the Companies Act, Recovery of Debts Due to Banks and the Financial Institutions Act, 1993, Securitisation and Reconstruction of Financial Assets and the Enforcement of Security Interest Act, 2002 and the Insolvency and Bankruptcy Code, 201

Aug 27, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH INDUSTRIAL DEVELOPMENT BANK OF INDIA (THROUGH STRESSED ASSETS STABILIZATION FUND CONSTITUTED BY THE GOVERNMENT OF INDIA) — Appellant Vs. SUPERINTENDENT OF CENTRAL EXCISE AND…

I B C

Greater inconvenience is likely to be caused by passing any interim order of constitution of CoC in relation to the corporate debtor as a whole; and may cause irreparable injury to the home buyers – This Court are not inclined to alter the directions in the order impugned as regards the projects other than Eco Village-II.

May 14, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH INDIABULLS ASSET RECONSTRUCTION COMPANY LIMITED — Appellant Vs. RAM KISHORE ARORA AND OTHERS — Respondent ( Before : Dinesh Maheshwari and Sanjay Kumar, JJ.…

I B C

Insolvency and Bankruptcy Code, 2016 – Sections 30(2), 52 and 53 – In terms of Section 52 of the Code, a secured creditor in liquidation proceedings has the right to relinquish its security interest to the liquidation estate and receive proceeds from the sale of assets by the liquidator in the manner specified under Section 53 of the Code.

May 9, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S VISTRA ITCL (INDIA) LTD AND OTHERS — Appellant Vs. MR. DINKAR VENKATASUBRAMANIAN AND ANOTHER — Respondent ( Before : M. R. Shah and…

Companies Act I B C

Companies Act, 2013 – Section 164(2)(b) – Insolvency Resolution Process – Unless a categorical finding was recorded in the competent forum as regards any such default and unless specific order disqualifying the resolution applicant as director because of such default came into existence, it could not have been taken by way of any process of assumption that the appellant-resolution applicant was disqualified

May 7, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M.K. RAJAGOPALAN — Appellant Vs. DR. PERIASAMY PALANI GOUNDER AND ANOTHER — Respondent ( Before : Dinesh Maheshwari and Vikram Nath, JJ. ) Civil…

I B C

Insolvency and Bankruptcy Code, 2016 – Distribution of the assets – Companies Act, 2013 – Sections 326 and 327 of Companies act shall not be applicable – the distribution of the assets shall have to be made as per Section 53 of the IBC subject to Section 36(4) of the IBC, in case of liquidation of company under IBC

May 7, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH MOSER BAER KARAMCHARI UNION THR. PRESIDENT MAHESH CHAND SHARMA — Appellant Vs. UNION OF INDIA AND OTHERS — Respondent ( Before : M.R. Shah…

I B C

I B C, 2016 – S 12A – application under section 12A for withdrawal cannot be said to be kept pending for constitution of CoC, even where such application was filed before constitution of CoC HELD substituted Regulation 30A of IBC as it stands clearly provided for withdrawal applications being entertained before constitution of CoC – It does not in any way conflicts or is in violation of section 12A of IBC.

Mar 30, 2023 sclaw

SUPREME COURT OF INDIA DIVISION BENCH ABHISHEK SINGH — Appellant Vs. HUHTAMAKI PPL LIMITED AND ANOTHER — Respondent ( Before : B.R. Gavai and Vikram Nath, JJ. ) Civil Appeal…

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Arbitration Constitution

Arbitration and Conciliation Act 1996 – Sections 34 and 37 – Curative petition – The Court found that the arbitral tribunal’s decision was not perverse or irrational and that the CMRS certificate did not conclusively prove that defects were cured within the cure period – The Court emphasized the tribunal’s domain to interpret the contract and the limited scope of judicial interference in arbitral awards – The Supreme Court concluded that the curative petition was maintainable and that there was no miscarriage of justice in restoring the arbitral award.

Apr 14, 2024 sclaw
Acquittal

Penal Code, 1860 (IPC) – Section 302, read with 34 – Murder – The Supreme Court found that the High Court did not properly address whether the Trial Court’s acquittal was a plausible conclusion from the evidence – The Supreme Court emphasized that the burden of proof lies with the prosecution and that the accused do not have to prove their innocence unless there is a statutory reverse onus – The Supreme Court concluded that the evidence did not warrant overturning the acquittal, as the Trial Court’s view was possible and not perverse.

Apr 14, 2024 sclaw
I P C

Penal Code, 1860 (IPC) – Section 302 – Murder – Dispute over a blocked pathway – The Court found no evidence of provocation by the deceased that would justify the appellants’ brutal attack, nor any exercise of the right to private defence – The Court applied principles from previous judgments to determine the lack of private defence and the presence of intention to cause harm – The Supreme Court concluded that the appellants’ actions were not in self-defence and that their intention was to inflict harm, affirming the lower courts’ decisions.

Apr 14, 2024 sclaw
Consumer

Consumer Law – Insurance Act, 1938 – Section 45 – Policy not to be called in question on ground of mis-statement after two years – The Court found no suppression of material facts and criticized the NCDRC for not requiring proper evidence from the respondent – The judgment discusses the principles of ‘uberrimae fidei’ (utmost good faith) and the burden of proof in insurance contracts – The Court concluded that the insurance company failed to prove the alleged suppression of facts, thus the repudiation was unjustified.

Apr 14, 2024 sclaw