Legal News & Views

Cause Title :  M/s Trinity Infraventures Ltd. vs M.s. Murthy & Ors., Arising Out Of Slp (C) Nos.2373-2377 Of 2020, The Supreme Court Date of Judgment/Order : 15/6/2023 Corum : V. Ramasubramanian & Pankaj Mithal Citied:  NSS Naryana Sarma vs. M/s Goldstone Exports Private Ltd., (2002) 1 SCC 662 Raja Ram Chandra Reddy vs. Rani Shankaramma, AIR 1956 SC 319 Sikander Jehan Begum vs. Andhra Pradesh State Government, AIR 1962 SC 996 State of Andhra Pradesh (Now State of Telangana) vs. A.P. State Wakf Board, 2022 SCC OnLine SC 159 Mohd. Habbibuddin Khan vs. Jagir Administrator, Government of Andhra Pradesh,  (1974) 1 SCC 8213 (2011) Rangammal vs. Kuppuswami,  12 SCC 220 National Textile Corporation (Maharashtra South) Ltd. vs. Standard Chartered Bank, (2000) 10 SCC 592 Lachhman Dass vs. Jagat Ram and Others, (2007) 10 SCC 448 Background The issue was a very convoluted matter concerning grant of land by the then Nizam of Hyderabad in the 18th century. As common with land matters, due to

  Cause Title : IDBI Trusteeship Services Limited vs Nirmal Lifestyle Limited,  Company Appeal (AT) (Insolvency) No. 117 of 2023, NCLAT-Delhi Date of Judgment/Order : 15/5/2023 Corum : Justice Ashok Bhushan, Chairperson & Barun Mitra, Member (Technical) Citied:  Pooja Finlease v. Auto Needs (India) Pvt. Ltd.,  C.A. (AT) Ins. No. 103 of 2022, NCLAT- Delhi Himadri Foods Ltd. v. Credit Suisse Funds AG, C.A. (AT) Ins. No. 1060 of 2020 Krishna Garg & Anr. v. Pioneer Fabricators Pvt. Ltd.,  C.A. (AT) Ins. No. 92 of 2021 SRLK Enterprises LLP v. JALAN Transolutions (India) Ltd.,  C.A. (AT) Ins. No. 294 of 2021 Background An application was filed before the NCLAT, under section 7 of I&B Code, 2016. Subsequently, a compromise being reached between parties, the compromise/consent term was placed on record before the Adjudicating Authority and the application was withdrawn. However, on the Respondent failing to honour the consent terms, the Appellant file an IA seeking revival of the C

Cause Title :  Ashok Kumar Bhasin. vs ABB Power Products and Systems India Limited, Company Appeal (AT)(Insolvency) No. 414 of 2023, National Company Law Appellate Tribunal Date of Judgment/Order :  Corum :  Citied:  Anil Rishi Vs. Gurbaksh Singh, (2006) 5 SCC 558 Rangammal Vs. Kuppuswami & Anr., (2011) 12 SCC 220 Mascot Petrochem Private Limited Vs. Midas Construction Company Private Limited, C.A. (AT) Ins. No. 1399 of 2019 decided on 03.02.2022, Background The Appellant suspended director of the Corporate Debtor Sigma-C Infrastructure Private Limited has filed this Appeal challenging the admission order under Section 9 of the Insolvency Code, issued by NCLT, Kolkata. Allegedly, some goods were supplied by the Operational Creditor to the Corporate Debtor for onward delivery to CESC, against which payment were not received. Hence the application under Section 9. One of objections raised by the  Corporate Debtor was that Operational Creditor has failed to file any document proving d

Cause Title :  National Institute Of Immunology vs Vinod Kumar Gupta, W.P.(C) 5016/2003, Delhi HigCourt Date of Judgment/Order : 02.06.2023 Corum :  GAURANG KANTH, J. Citied:  Bangalore Water Supply and Sewerage Board etc. Vs. R.Rajappa & Ors reported as 1978 (3) SCR 207 Physical Research Laboratory v. K.G. Sharma, reported as (1997) 4 SCC 257 Union of India v. Vartak Labour Union (2), reported as (2011) 4 SCC 200  State of Karnataka v. Umadevi (3), reported as (2006) 4 SCC 1 Haryana State F.C.C.W. Store Ltd. v. Ram Niwas, reported as (2002) 5 SCC 654 Workmen v. Indian Standards Institution, reported as (1975) 2 SCC 847 Indian Medical Association v. PO Labour Court-I, reported as 2012 SCC OnLine Del 4852 S.M. Nilajkar v. Telecom District Manager, reported as (2003) 4 SCC 27 Background An industrial dispute was raised by the workman against the management, which was subsequently referred by the Secretary (Labour), Govt. of Delhi to the learned Labour court in exercise of the power c

Cause Title :  Ghanshyam vs  Yogendra Rathi,  Civil Appeal Nos.7527-7528 Of 2012, Supreme Court Of India Date of Judgment/Order : 2/6/2023 Corum : Dipankar Datta, J. & Pankaj Mithal, J. Citied:  Veer Bala Gulati Vs. Municipal Corporation of Delhi and Anr., (2003) 104 DLT 787 Asha M. Jain Vs. Canara Bank and Ors., (2001) 94 DLT 841 Imtiaz Ali Vs. Nasim Ahmed, AIR 1987 DELHI 36 G. Ram Vs. Delhi Development Authority, AIR 2003 DELHI 120 Suraj Lamp & Industries Pvt. Ltd. Vs. State of Haryana & Anr., (2009) 7 SCC 363 Background The plaintiff-respondent instituted a suit for eviction of the defendant-appellant from the suit premises on the averment that he is the owner of the said property by virtue of an agreement to sell, power of attorney, a memo of possession and a receipt of payment of sale consideration as well as a “will” of the defendant- appellant bequeathing the said property in his favour; the possession of the suit premises was handed over to the plaintiff-respondent

Cause Title :  M.D. Creations & Others vs  Ashok Kumar Gupta,  C.O. 2545 of 2022, Calcutta High Court Date of Judgment/Order : 09.06.2023 Corum : Bivas Pattanayak, J. Citied:  Mcdermott International INC versus Burn Standard Co. Limited and others reported in (2006) 11 SCC 181 A. Venkatasubbiah Naidu versus S.Chellappan and Others reported in (2000) 7 SCC 695 Hindusthan Commercial Bank versus Punnu Sahu reported in AIR 1970 SC 1384 Abanindra Kumar Maity versus A.K Biswas reported in AIR 1954 Cal 355 Achutananda Baidya versus Prafullya Kumar Gayen & Ors reported in AIR 1997 SC 2077 Security Hitech Graphics Private Limited versus LMI India Private Limited in C.O 1931 of 2022 Deep Industries Limited versus Oil and Natural Gas Corporation Limited and Another reported in (2020) 15 SCC 706 Bhaven Construction through Authorised Signatory Premjibhai K. Shah versus Executive Engineer, Sardar Sarovar Narmada Nigam Ltd. & Another reported in (2022) 1 SCC 75 Background As per agreemen

Cause Title : North West Carrying Company, LLP vs Metro Cash and Carry India Pvt. Ltd, CP (IB) No.133/BB/2022, National Company Law Tribunal Bengaluru Bench Date of Judgment/Order : 25/5/2023 Corum : Hon’ble Justice (Retd.) T. Krishnavalli, Member (Judicial) & Hon’ble Shri. Manoj Kumar Dubey, Member (Technical) Citied:  Prashat Agarwal v. Vikash Parasrampuria, Company Appeal (AT)(Ins) No. 690 of 2022 dated 15.07.2022 Asset Reconstruction Company (India) Limited vs Tulip Star Hotels Limited & Ors, 2022 SCC Online SC 944  Background The petition under section 9 of the Insolvency and Bankruptcy Code, 2016, r/w. Rule 6 of the I&B (Application to Adjudicating Authority) Rules 2016, was filed by M/s North West Carrying Company, LLP. - ‘Operational Creditor/Petitioner’ to initiate Corporate Insolvency Resolution Process against M/s. Metro Cash and Carry India Pvt. Ltd  on the ground that the Corporate Debtor has committed a default for a total outstanding amount of Rs. 1,63,71,799

  Cause Title : Numaligarh Refinery Limited vs Union Of India, WP(C)/7217/2022, Gauhati High Court Date of Judgment/Order :  Corum :  Gujarat State Civil Supplies Corporation Limited vs. Mahakali Foods Private Limited (Unit 2) & Anr., reported in AIR 2022 SC 5545 Citied:  Background The petitioner prayed for setting aside the case filed by the respondent No. 3 for non-payment of his contractual bills, which is pending before the Joint Director & Head of Office, Micro, Small and Medium Enterprises (MSME) Development and Facilitation Office, Ministry of MSME, Government of India, on the ground that the Micro, Small and Medium Enterprises (MSME) Facilitation Council does not have the jurisdiction to entertain the said case while the Respondent argued that as per the Supreme Court judgment in  Gujarat State Civil (supra), MSMED Act, 2006 has an overriding effect over the Arbitration and Conciliation Act, 1996. Judgment The High Court agreeing with the Respondent observed that the S

Cause Title :  M/s Actioncor Consultants Private Limited vs M/s. Viprah Technologies Limited, Company Appeal (AT) (Ins) No. 916/2019, National Company Law Appellate Tribunal At Chennai Date of Judgment/Order : 01/06/2023 Corum : Justice M. Venugopal (Member Judicial) & Shreesha Merla (Member Technical) Citied:  Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited Vs. Axis Bank Ltd. & Ors. Background While the Respondent, M/s. Viprah Technologies Limited was under BIFR, the MD and another director of the company entered into an investment agreement with the Appellant for  a loan of Rs. 1.25 cr. to repay the secured creditors. A property belonging to the the Director  Mrs. Sujatha Ananth was deposited as security. When the company did not repay a notice was issued to  and subsequently an application was filed under Section 7 before NCLT which was rejected by the NCLT. In their appeal, the Applicant argued that the finding of the Adjudicating Authority that the A

Cause Title :  Indiabulls Housing Finance Limited vs Revital Realty Private Limited, Company Appeal (AT) (Insolvency) No. 994 of 2022, National Company Law Appellate Tribunal Date of Judgment/Order : 24.05.2023 Corum : Justice Ashok Bhushan, Chairperson & Naresh Salecha, Member (Technical) Citied:  Koncentric Investments Ltd. & Anr. Vs. Standard Chartered Bank & Anr. (Company Appeal (AT) (Insolvency) No. 911 of 2021) Background The Appellant sanctioned one loan for Rs. 85 Crores on 05.02.2016 and entered into the loan agreement on 22.02.2016 which was fully disbursed on 09.05.2016 and the Respondent/Corporate Debtor defaulted payment of the instalment for the month of July 2018 which was due and payable on 19.08.2018 resulting into default in terms of the Loan Agreement.  The Appellant issued a loan recall notice  dated 25.03.2022 and since the loan was not repaid within the timeline provided, an application under Section 7 was filed. The said application was  dismissed by