PMLA – Search and seizure – If a statute provides for a thing to be done in a particular manner, then it has to be done in that manner and in no other manner – Authorised Officer is vested with sufficient power; such power is circumscribed by a procedure laid down under the statute – As such the power is to be exercised in that manner alone,

SUPREME COURT OF INDIA FULL BENCH OPTO CIRCUIT INDIA LIMITED — Appellant Vs. AXIS BANK AND OTHERS — Respondent ( Before : S.A. Bobde, CJI., A.S. Bopanna and V. Ramasubramanian,…

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.…

Housing – Allotment of plot – Non-Participation of Allotment Process – Availability of the plot does not give any entitlement to a person who has no right to claim allotment – Any allotment has to be made in accordance with the procedure prescribed and the Rules of the Parishad

SUPREME COURT OF INDIA DIVISION BENCH U.P. HOUSING AND DEVELOPMENT BOARD AND ANOTHER — Appellant Vs. NAMIT SHARMA — Respondent ( Before : Ashok Bhushan and R. Subhash Reddy, JJ.…

Illegal gratification – presumption of innocence as would be there in the case of acquittal – High Court decision is based on totally erroneous view of law by ignoring the settled legal position – High Court in dealing/non – dealing with the evidence was patently illegal leading to grave miscarriage of justice – Matter deserves to be remanded

SUPREME COURT OF INDIA FULL BENCH STATE OF GUJARAT — Appellant Vs. BHALCHANDRA LAXMISHANKAR DAVE — 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…