Intent of Corporate Debtor irrelevant in establishing existence of preferential transaction: NCLAT
There is no need to prove any fraudulent intent for a preferential transaction as per S. 43 of the IBC.
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What is the rule for settlement after constitution of ‘Committee of Creditors’? NCLAT Answers
“Any settlement after passing of the impugned order and after constitution of the CoC is only permissible when the same is approved with 90% vote share of CoC.”
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NGT denies Taxi Union’s plea to increase number of vehicles permitted to Rohtang Pass
The opening of the Atal Tunnel or availability of parking space is not sufficient ground to increase the number of vehicles allowed to Rohtang Pass.
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Railway horns are required to be blown as per ‘whistle code’; NGT dismisses plea to prohibit usage of train horns
The National Green Tribunal said that an environment free from noise pollution is necessary, but operation of railways is an essential activity, and must be conducted.
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DCDRC directs restaurant to pay Rs 40,000 as compensation for ordeal sustained by the complainant due to its failure to deliver ‘Sadya’ on Thiruonam day
The Commission observed that Malayalis have sentimental attachment towards ‘Thiruonam Sadya’; therefore, waiting for a long time and eventually not getting the ‘Sadya’ can be quite frustrating.
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No embargo on Operational Creditor to file application u/S 9 IBC, even if agreement has an arbitration clause: NCLAT
The scope and objective of the Code is ‘Resolution’, and not a ‘Recovery Mode / Forum’.
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Mitigating factors should be considered while imposing penalty for anti-competitive behavior: NCLAT imposes 1% penalty of the turnover on Geep Industries
“…penalty @1% of the turnover for each year of continuance of the cartel would be appropriate penalty in keeping with the extent and seriousness proportionality of the anti-competitive behavior of Geep Industries.”.
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State cannot escape liability for violation of environmental norms; NGT grants Compensation of Rs. 20 lakhs to successor of deceased
National Green Tribunal said that the State has to take precautions to prevent such incidents in future, apart from paying compensation with liberty to recover the same from the entity.
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To reject application under Sec. 9 IBC, a genuine pre-existing dispute must exist: NCLAT
The National Company Law Appellate Tribunal held that no pre-existing dispute regarding quality of supplied goods exist as the same was not raised before consumption of the goods.
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Application U/S 7 IBC not maintainable if Financial Creditor steps into the shoes of Operational Creditor; NCLAT upholds NCLT’s order
NCLAT held that the application preferred by the appellants in the second appeal under S. 7 IBC has rightly been held to be not maintainable and was rightly relegated to avail their remedy of filing the application under S. 9 IBC in relation to invoice discounting of the receivables by the seller.
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[Sambhal cold storage collapse incident] NGT orders compensation to heirs of deceased and injured persons
If the business entity involved in hazardous activities fails to pay compensation, the State is liable to pay for the failure to ensure safety. Citizens are entitled to safety from hazards of business activities having potential for incidents which may cause death and injuries.
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“Law will take its own course”; NCLAT refuses to interfere with NCLT’s order approving Resolution Plan
NCLAT held that that the allocation of meagre amount in Resolution Plan to Creditors can be questioned when the plan value earmarked for them is less than the liquidation value but same is not the case in instant matter.
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Reopening of the assessment is indemonstrable in law as reasons inserted in Section 147 IT Act were not considered as evidence: ITAT
It is a trite law that the reasons, as recorded for reopening the reassessment, are to be examined on a standalone basis to determine the validity of proceedings under section 147 IT Act.
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NCLAT cannot condone delay beyond 15 days in appeal due to lack of jurisdiction even if fraud has been played
National Company Law Appellate Tribunal observed that as per S. 61(2) every appeal must be filed within 30 days before the Appellate Tribunal and the Appellate Tribunal has the jurisdiction to extend the period of 15 days if it is satisfied that there is a sufficient cause for not filing the appeal within the prescribed time.
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State cannot escape liability for violation of environmental norms and negligence by its authorities; responsible to compensate the victims of illegal mining: NGT
NGT said that though basic liability is of violator of law, where law violator is not made to pay compensation, the State is liable to pay compensation as per its duty as a welfare State
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SAT reverses SEBI’s order in Arshad Warsi’s pump and dump case
Securities Appellate Tribunal: In the instant appeal filed against the ex parte ad-interim order passed by the Whole Time Members (WTM) of
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[Google-CCI Case] |NCLAT upholds Rs1,337 crore penalty on google for abuse of dominant position in Android Mobile Device Ecosystem
The Tribunal while upholding the impugned order passed by CCI dated 20-10-2022, set aside 4 key directions issued in paragraphs 617.3, 617.9, 617.10 and 617.7.
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[District Police Constable Driver Recruitment] MAT| Clause prohibiting application for one and the same post in more than one unit in the advertisement notice not violative of Article 14, 16 and 19
The Tribunal observed that the act of filling in 2 applications for one and the same post in more than one Unit cannot be accepted to be an inadvertent or innocent act.
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[Reliance Capital (RCap) Resolution] CoC has power to negotiate and call for higher bid; NCLAT allows another round of bidding
The NCLAT held that even after completion of challenge mechanism under CIRP Regulation 39(1A)(b), the CoC retains its jurisdiction to negotiate with one or other Resolution Applicants, or to annul the Resolution Process and embark on to re-issue RFRP.
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RPC fee paid by Formula One not liable to be disallowed; Second proviso to S. 40(a)(i) be given retrospective effect: ITAT
ITAT held that the second proviso to Clause (i) of Section 40(a) just like second proviso to clause (ia) of Section 40(a) was inserted to remove an anomaly and were therefore curative and declaratory in nature. Hence, it had to be given retrospective effect.
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