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NCLT - Mere admission of receipt of money does not qualify as a financial debt

Cause Title : Meghna Devang Juthani Vs Ambe Securities Private Limited, National Company Law Tribunal, Mumbai, CP (IB) No. 974/MB-VI/2020 Date of Judgment/Order : 18.12.2023 Corum : Hon’ble Shri K. R. Saji Kumar, Member (Judicial) Hon’ble Shri Sanjiv Dutt, Member (Technical) Citied: Carnoustie Management India Pvt. Ltd. Vs. CBS International Projects Private Limited, NCLT Swiss Ribbons Pvt. Ltd. & Anr vs. Union of India & Ors. (2019) Sanjay Kewalramani vs Sunil Parmanand Kewalramani & Ors. (2018) Pawan Kumar vs. Utsav Securities Pvt Ltd 2021 Background Application was filed under section 7 of the Insolvency and Bankruptcy Code, 2016 alleging loan of Rs, 1.70 cr is due. The Applicate identified herself as the widow and heir of the lender but could not produce any documents proving financial contract between her Late husband and the CD but claimed that the CD has accepted that money was received from her husband. The applicant subs...

Law declared unconstitutional is void from it's inception

Cause Title : CBI vs R.R. Kishore, Criminal Appeal No.377 Of 2007, Supreme Court Of India Date of Judgment/Order : 11/09/2023 Corum : J. (Sanjay Kishan Kaul) J. (Sanjiv Khanna) J. (Abhay S. Oka) J. (Vikram Nath) J. (J. K. Maheshwari) Citied: Subramanian Swamy vs. Director, Central Bureau of Investigation and another, (2014) 8 SCC 682 Manjit Singh Bali vs. Central Bureau of Investigation Rao Shiv Bahadur Singh and another Vs. State of Vindhya Pradesh, (1953) SCR 1188 State of West Bengal Vs. S.K. Ghosh, (1963) 2 SCR 111 Sajjan Singh Vs. The State of Punjab, (1964) 4 SCR 630 Rattan Lal Vs. State of Punjab, (1964) 7 SCR Union of India Vs. Sukumar Pyne, (1966) 2 SCR 34 G.P. Nayyar Vs. State (Delhi Administration), (1979) 2 SCC 593 Soni Devrajbhai Babubhai Vs. State of Gujarat and Others, (1991) 4 SCC 298 Securities and Exchange Board of India Vs. Ajay Agarwal, (2010) 3 SCC 765 Vineet Narain and Others Vs. Union of...

Are salesmen also workmen as per Industrial Disputes Act 1947?

Cause Title : Kiran P. Pawar vs Bata India Ltd., Bombay High Court, Writ Petition No. 5862 OF 2018 Date of Judgment/Order : 01 November 2023 Corum : Sandeep V. Marne, J. Citied: H. R. Adyanthaya & Ors. Vs. Sandoz (India) Ltd. & Ors., (1994) 5 SCC 737 Miss A. Sundarambal Vs. Government of Goa, Daman and Diu & Ors., (1988) 4 SCC 42 Pepsico India Holding Private Limited Vs. Krishna Kant Pandey, (2015) 4 SCC 270 Deepali Gundu Surwase Vs. Kranti Junior Adhyapak Mahavidyalaya (D.Ed.) & Ors, (2013) 10 SCC 324 Bata India Ltd. A Company, Calcutta Versus B. H. Nathani, 1077 (0) AIJ-GJ 223985 May & Baker (India) Ltd. V. Workman, (1961) 2 LLJ 94 : AIR 1967 SC 678 Western India Match Co. Ltd. Vs. Workmen, AIR 1964 SC 472 T. P. Srivastava Vs. National Tobacco Co. of India Ltd., (1992) 1 SCC 281 Burmah Shell Case AIR 1971 SC 922 Background Bata decided to operate its showrooms in Mumbai, Thane and Pune for 7 days in a week in the year 2007 with...

In partition suit, every interested party deemed to be a plaintiff

Cause Title : A. Krishna Shenoy Vs Ganga Devi G. & Ors., Special Leave to Appeal (C) No(s). 8080/2019, Date of Judgment/Order : 11-09-2023 Corum : M. M. Sundresh; J., Prashant Kumar Mishra; J. Citied: Malluru Mallappa (Dead) Through Legal Representatives v. Kuruvathappa and Others, (2020) 4 SCC 313 Somakka (Dead) by Legal Representatives v. K.P. Basavaraj (Dead) by Legal Representatives, (2022) 8 SCC 261 Background A suit for partition was filed, on the first occasion in which the petitioner herein was arrayed as a defendant but his two sister were not arrayed as parties. An attempt made by them subsequently during the final hearing of the proceedings, did not yield any fruit. The preliminary decree passed in the said suit has become final as against the petitioner. Thereafter, the sisters filed an independent Suit seeking partition. During the pendency of the said suit, they filed an application seeking yet another preliminary decree in ...

Can Tribunal adjudicate the interest/claim of the third parties in the arbitration proceeding in the absence of any agreement ?

Cause Title : R.Subbulakshmi (deceased) vs R.Venkitapathy (deceased), O.P.Nos.40 of 2019, Madras High Court Date of Judgment/Order : 10.08.2023 Corum : Justice Krishnan Ramasamy Citied: Vimal Kishor Shah and others vs. Jayesh Dinesh Shah and others reported in (2016) 8 SCC 788; A.Ayyasamy vs. A.Paramasivam and others reported in (2016) 10 SCC 386; Booz Allen and Hamilton Inc., vs. SBI Home Finance Limited and others reported in (2011) 5 SCC 532; T.A.Kadeeja vs. R.K.Manjusha in CRP.No.439 of 2016 (B); Express Newspapers Pvt. Ltd., and others vs. Union of India and others reported in (1986) 1 SCC 133; Indian Express Newspapers (Bombay) Private Limited and others vs. Union of India and others reported in (1985) 1 SCC 641; Basheshar Nath vs. Commissioner of Income Tax, Delhi and another reported in AIR 1959 Supreme Court 149; Justice K.S.Puttaswamy (Retd.) and another vs. Union of India and others reported in (2017) 10 SCC 1; Bawana Infra Development Pvt. Ltd....

Does the winding up of the partnership firm amounts to liquidation of the partnership firm

Winding Up vs Dissolution of partnership firm

Date of decree cannot be brought forward/substituted with date of default

Cause Title : Venus Buildtech India Private Limited vs Senbo Engineering Limited, C.P. (IB) No. 60/KB/2021, National Company Law Tribunal Kolkata Bench Date of Judgment/Order : 4/8/2023 Corum : Smt. Bidisha Banerjee, Member (Judicial), Shri Balraj Joshi, Member (Technical) Citied: Jignesh Shah and Another v. Union of India and Another, (2019) 10 SCC 750 Asset Reconstruction Company (India) Limited vs. Bishal Jaiswal and Another, (2021) 6 SCC 366 V. Padamkumar Vs. Stressed Asset Stabilization Fund (SASF) & Anr., C.A.(AT) (Ins) No. 57 of 2020 SLB Welfare Assn. v. PSA IMPEX (P) Ltd., Company Appeal (AT) (Insolvency) Nos. 905 and 642 of 2022, decided on 04-11-2022 Sri Subhankar Bhowmik v. Union of India and Anr., WP(C)(PIL) No.04/2022 decided on 14 March, 2022 Background Venus Buildtech had originally filed a suit under order 37 CPC in the month of November, 2010 before the ADJ, Delhi which was decided and decree ...

SARFEASI Act prevails over MSMED Act

Cause Title : Canara Bank vs State of Himachal Pradesh & Ors., CWP No. 5194 of 2023, Himachal Pradesh High Court Date of Judgment/Order : 21/8/2023 Corum : Tarlok Singh Chauhan, Judge & Ranjan Sharma, Judge Citied: Kotak Mahindra Bank Ltd. vs. Girnar Corrugators Private Limited and Others, (2023) 3 SCC 210 State of H.P. & LPA No. Ors vs. State Bank of India & Anr, 156 of 2021 Central Bank of India vs. State of H.P. & Ors, CWP No. 4751 of 2023 Punjab National Bank vs. Union of India & Ors (2022), 7 SCC 260 Background The Petitioner Bank had auctioned off the secured mortgaged property to recover the dues from the loanee. However after the issuance of Sale Certificate, when the Bank tried to get the property registered in the name of Auction Purchaser, the Sub-Registrar-cum-Assistant Collector verbally conveyed its inability, without disclosing any cogent and tangible reasons. Hence the instant petition. Judgment Allowing the petition and dire...

Reference in a contract to a document containing an arbitration clause must be clear and unambiguous

Cause Title : Kobelco Construction Equipment India Private Limited vs. Lara Mining & Anr., AP 181 of 2023, Calcutta High Court Date of Judgment/Order : 11.08.2023 Corum : Hon’ble Justice Moushumi Bhattacharya Citied: Duro Felguera, S.A. vs. Gangavaram Port Limited; (2017) 9 SCC 729 Inox Wind Limited vs. Thermocables Limited; (2018) 2 SCC 519 M.R. Engineers and Contractors Private Limited vs. Som Datt Builders Limited; (2009) 7 SCC 696 Sea Trade Maritime Corpn. v. Hellenic Mutual War Risks Assn. (Bermuda) Ltd. No. 2; 2006 EWHC 2530 Chloro Controls India Private Limited v Severn Trent Water Purification Inc. ; (2013) 1 SCC 641 Ameet Lalchand Shah vs Rishabh Enterprises; (2018) 15 SCC 678 Tantia Constructions Limited vs. Mather and Platt Pumps Limited in AP No. 72 of 2023 Background The Arbitration Petitions have been filed under section 9 of The Arbitration and Conciliation Act, 1996 by the petitioner seeks an injunction on the respondent no 1 from d...

Mere mentioning of claim in the balance sheets as liability would not amount to a clear admission of debt

Cause Title : MSTC Ltd. v/s. Standard Chartered Bank, Appeal No. 10/2023, Debts Recovery Appellate Tribunal, At Mumbai Date of Judgment/Order : 07/08/2023 Corum : Mr Justice Ashok Menon, Chairperson Citied: Uttam Singh Duggal vs. United Bank of India & Ors. (2000) 7 SCC 120 Ultramatrix Systems Pvt. Ltd. Vs. State Bank of India & Ors 2007 (4) Mh. L. J. 847 Inteltech Automation Pvt. Ltd. & Ors vs. IndusInd Bank Ltd. & Anr. 2011 (1) Mh. L. J. 935 Shantez & Anr. vs. Applause Bhansali Films Pvt. Ltd. Company, Mumbai & Ors. 2009 (4) Mh.L.J. 37 Pankaj Unit No. 1 Housing Development Company Pvt. Ltd. & Anr vs. Oshiwara Land Development Company Pvt. Ltd. & Anr. 2014 SCC OnLine Bom 203 Microcosm Metal & Energy vs. State Bank of India 2015 SCC OnLine Bom 7896 Bareilly Electricity Supply vs. The Workmen & Ors. 1971 (2) SCC 617 Assets Reconstruction Company (India) Ltd. vs. Bishal Jaiswal & Anr. (2021) 6 SCC 366 Background T...

Personal Guarantee Can Be Extinguished Through Resolution Plan

Cause Title : SVA Family Welfare Trust & Anr. Vs. Ujaas Energy Ltd. & Ors., Company Appeal (AT) (Insolvency) No. 266 of 2023, NCLAT-Delhi Date of Judgment/Order : 21/8/2023 Corum : Justice Ashok Bhushan, Chairperson & Barun Mitra, Member (Technical) Citied: Vijay Kumar Jain vs. Standard Chartered Bank and Ors.- (2019) 20 SCC 455 Lalit Kumar Jain v. Union of India- (2021) 9 SCC 321 State Bank of India vs. V. Ramakrishnan and Anr- (2018) 17 SCC 394 Nitin Chandrakant Naik and Anr. vs. Sanidhya Industries LLP and Ors.- 2021 SCC OnLine NCLAT 302 Karad Urban Cooperative Bank Limited vs. Swwapnil Bhingardevay and Ors.- (2020) 9 SCC 729 K. Sashidhar v. Indian Overseas Bank- (2019) 12 SCC 150 Essar Steel (India) Ltd. Committee of Creditors v. Satish Kumar Gupta- (2020) 8 SCC 531 M.K. Rajagopalan vs. Dr. Periasamy Palani Gounder and Anr.- 2023 SCC OnLine SC 574 Edelweiss Asset Reconstruction Company Ltd. vs. Mr. Anuj Jain, Resolution Professional of Ballarpur, Company Appeal (AT...

Customised Software Designed For Specific User Is Also Taxable As 'Goods'

Cause Title : State Of Kerala vs Sri. V. C. Vinod, Kerala High Court, St. Rev. No.2 Of 2016 Date of Judgment/Order : 24/7/2023 Corum : Justice Mohammed Nias C. P. & Justice A. K. Jayasankaran Nambiar Citied: Tata Consultancy Services v. State of Andhra Pradesh – [(2005) 1 SCC 308] Commissioner of Service Tax, Delhi v. Quick Heal Technologies Limited – [(2023) 5 SCC 469] Background The respondent/assessee was doing business in software. Computer software attracted tax @ 4% ad valorem was introduced into the KGST Act with effect from 1.4.2002. As the respondent/assessee had not taken any registration or paid tax in respect of the sale of software to its clients under the KGST Act, penalty proposals were initiated by the Sales Tax Department for each of the assessment years, against which the assessee argued that customised software was not goods and sales tax could not be demanded from it for the supply of cus...

Moratorium u/s 14 of IBC does not impose any restriction on charging of any interest/Penal Interest during the CIRP period

Cause Title : Mr. Arun Kumar vs Ms. Sripriya Kumar, National Company Law Appellate Tribunal, Company Appeal (At) (Ch) (Ins.) No. 431/2022 Date of Judgment/Order : 08/08/2023 Corum : Abhay S. Oka; J., Rajesh Bindal; J. Citied: Central Bank of India Vs. Ravindra and Ors.’ reported in [(2002) 1 SCC 367] S.P. Chengalvaraya Naidu (Debt) by LRs Vs. Jagganath (Debt) by LRs & Ors. Irrigation Department, State of Orissa Vs. G.Roy’ reported in [(1992) 1 SCC 508] Kottayam District Co-Operative Bank Vs. Annie John, [(2002) SCC Online KER 184] Small Scale Industrial Manufactures Association Vs. Union of India & Ors., [(2021 8 SCC 511] Binani Industries Vs. Bank of Baroda and Anr., Company Appeal (AT) (Ins) No. 32/2018 Central Bank of India Vs. Ravindra and Ors.’, [(2002) 1 SCC 367] Background This appeal was filed against the order of the NCLT rejecting the objection of the appellant against the Adjudicating Authority (AA) approving the Resoluti...

Insurer cannot ignore document that it had itself called for from independent and impartial authorities

Cause Title : M/s. Isnar Aqua Farms Vs. United India Insurance Co. Ltd., Civil Appeal No. 1077 Of 2013, Supreme Court Of India Date of Judgment/Order : 8/8/2023 Corum : A. S. Bopanna, J & Sanjay Kumar, J Citied: General Assurance Society Limited Vs. Chandumull Jain and another [AIR 1966 SC 1644] Jacob Punnen and another Vs. United India Insurance Company Limited [(2022) 3 SCC 655] Modern Insulators Limited Vs. Oriental Insurance Company Limited [(2000) 2 SCC 734] Background The petitioner a prawn cultivation farm, obtained insurance coverage from the respondent Insurance Company for a period of five months from in relation to all the 37 ponds in its operation. Subsequently there was a major outbreak of a bacterial disease called ‘White Spot Disease’ along the east coast of Andhra Pradesh, which led to mass mortality of prawns in the area, including the appellant’s farm. This led to invocation of the insurance policy by the appellant. However, up...