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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...