Ritu, Author at SCC Times

Case Briefs Tribunals/Commissions/Regulatory Bodies

Refusal to re-hear matter after reservation of order in company petition does not cause miscarriage of justice: NCLAT

“Debt acknowledgment in balance sheets and OTS proposal demonstrated Corporate Debtor’s awareness of assignment, rendering technical challenges unfounded.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Financial Debt claim under Section 5(8) of IBC cannot be entertained after CoC’s approval of Resolution Plan: NCLAT

The NCLAT reiterated the importance of adhering to timelines in the Insolvency resolution process and the unacceptability of claims filed after the approval of the Resolution Plan by the CoC.

Case Briefs Tribunals/Commissions/Regulatory Bodies

IBC| Doctrine of promissory estoppel cannot be applied against approved Resolution Plan: NCLAT

NCLAT upheld the Adjudicating Authority’s order on finding no error in rejecting the appellant’s objections to the Resolution Plan.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Corporate Debtor’s early denial of liability indicates pre-existing dispute; rejection of the Section 9 application justified: NCLAT

While affirming the impugned order, the NCLAT granted the appellant option to pursue proceedings as per the agreement between the parties before an appropriate forum in accordance with the law.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Admitted Claim versus Security Interest’; NCLAT determines how to distribute Corporate Debtor’s assets to Secured Creditors

The NCLAT reiterated that Commercial wisdom of the CoC is crucial in determining the viability and feasibility of a resolution plan.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT issues notice in appeal against NCLT’s rejection of challenge to Lay-Off notice under Industrial Disputes Act

The main contention of the appellants is that the lay-off notice was not issued in accordance with the provisions of the Industrial Disputes Act, 1947.

Know thy Judge

Know Thy Newly Appointed Supreme Court Judge | Justice Satish Chandra Sharma

Following a meticulous assessment of the qualifications, integrity, capabilities and giving due consideration to a range of factors, the Supreme Court Collegium recommended and Centre Government approved the appointment of Justice Satish Chandra Sharma as Judge of the Supreme Court of India.

Case Briefs High Courts

‘Compassionate appointment not vested/hereditary right’, Calcutta High Court upholds rejection of compassionate appointment

Calcutta High Court denied the compassionate appointment due to the lack of credibility and failure to establish financial dependency.

Appointments & Transfers News

Three new Judges of the Supreme Court of India take oath

Following the Collegium’s recommendation for appointment of Justice Satish Chandra Sharma, Justice Augustine George Masih, and Justice Sandeep Mehta as Judges of the Supreme Court of India, the Centre cleared the recommendation within 48 hrs.

Case Briefs High Courts

To what extent can Court interfere with arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996? Calcutta High Court determines

Calcutta High Court used the analogy of a doctor removing a poisoned leg to prevent the spread of poison throughout the body to illustrate the concept of severability in arbitral awards.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Belated claims, even if allegedly due to fraud, may not be admitted once Resolution Plan is approved: NCLAT

The NCLAT rejected Resolution Professional’s reliance on Section 17 of the Limitation Act, 1963, as no fraud was found on the part of the Corporate Debtor.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Withdrawal of suit cannot be considered as failure of prior proceeding’; NCLAT rejects Section 9 application as being time-barred

A mere availability of arbitration or any other proceeding could not preclude the operational creditor from initiating proceedings under Section 9 of the IBC. The critical question would be whether the application was filed within the limitation period.

Appointments & Transfers News

SC Collegium recommends appointment of 3 Chief Justices of High Courts as Judges of the Supreme Court of India

Following a meticulous assessment of the qualifications, the Collegium on 06-11-2023, recommended the names of the Justice Satish Chandra Sharma, Justice Augustine George Masih, and Justice Sandeep Mehta, Chief Justices of High Courts of Delhi, Rajasthan and Gauhati respectively, to be elevated as Judges of the Supreme Court.

Case Briefs High Courts

Criminal Justice| Madhya Pradesh High Court directs integration of “SANDES APP” and ICJS for witness protection and improved communication

The overarching objective of the previously issued orders is to expedite the trial process and provide protection to victims and witnesses in heinous offenses.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Single Real Estate Allottee cannot trigger Insolvency Proceedings under Section 7 of IBC: NCLAT

The underlying claim of an aggrieved party, such as an allottee, is crystallized in the form of a court order or decree, and this does not alter or disturb their status as financial creditors.

Case Briefs High Courts

Calcutta High Court refuses to interfere with order reducing security deposit in vessel MT TSM Pollux arrest case

In a case related to modification of a security order related to the arrest of a vessel and claim for damages due to business losses, the Calcutta High Court ruled in favour of respondent, but acknowledged the appellant’s prima facie case for damages.

Case Briefs High Courts

“No caprice or arbitrariness”; Calcutta High Court upholds notification for MR Distributorship vacancy

Calcutta High Court emphasised that the declaration of new vacancies should be guided by the interests of the ultimate beneficiaries and the need to ensure efficient operation of the public distribution system.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT affirms dismissal of minority homebuyers’ challenge to Resolution Plan; says it does not fall foul of law on reduction in claim

The democratic principles of the determinative role of majority opinion are enshrined in the IBC, and objections by a minority within a class, when the majority has approved a resolution plan, have no legal standing.

Case Briefs High Courts

‘Permissive possession does not create possessory rights’; Calcutta High Court upholds KMDA’s right to cancel the land allotment

Calcutta High Court held that the physical possession of the land was not given to the petitioners, and no lease deed was executed in their favor, leading to the conclusion that they were in permissive possession.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Irrevocable and unconditional bank guarantees can be invoked during moratorium period: NCLAT

“The ‘Bank Guarantee’ is a ‘contract of Guarantee’ provided/furnished by the Bank, the “surety”, to perform the ‘promise’, or ‘discharge’ the liability, of the third person, being the Corporate Debtor herein, in case of his ‘default’.”