Tribunals/Commissions/Regulatory Bodies Archives | Page 9 of 90

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT can’t impose fine on suspended directors for non-cooperation under Sections 19(2) or 34(3) of IBC: NCLAT

The Adjudicating Authority erred in passing the impugned order, directing the imposition fine, overlooking the law of the land through the Insolvency and Bankruptcy Code, 2016.

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI bans ‘Baap of Chart’ owner from securities market; Imposes penalty of Rs. 17.2 crores

Securities and Exchange Board of India: In the instant matter, Mohammad Nasiruddin Ansari was alleged to have induced / influenced investors to

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Restricted use of firecrackers’; ‘No authority can violate Supreme Court’s directions and permit banned firecrackers under the guise of celebration’: NGT

“The use of firecrackers in cities/towns where air quality is ‘moderate’ or below was restricted to only green crackers only and for duration of not more than two hours and only for celebration of any specified festival or occasion”.

District Consumer Disputes Redressal Commission

Case Briefs Tribunals/Commissions/Regulatory Bodies

Bengaluru DCDRC dismisses medical negligence case against Apollo Hospitals due to absence of necessary party and related documentary evidence

The Commission stated that the treating doctor is the best judge in a case where multiple options/ tests are available in respect of a particular ailment.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Timelines are of great significance in IBC’; NCLAT dismisses condonation of delay application

Limitation shall commence from the date when order is passed and shall not depend on the date when Appellant came to know of the order.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Yamuna’s situation far from satisfactory and status report filed by States and authorities did not cover major issues; NGT directs filing of fresh status reports

Details of the Sewage Treatment Plants, drains discharging both treated waste water and untreated waste water, steps taken for utilization of the treated waste water for agriculture, etc. lacked in the status report.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT orders initiation of Insolvency Process due to default in payment and bounced Post-Dated Cheques

NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Default occurred when post-dated cheques bounced; NCLT directs to initiate insolvency process

NCLT held that the Corporate Debtor failed to prove a pre-existing dispute to justify the rejection of the Section 9 application.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Reflection of name in balance sheet alone does not override rejection of claim to be Financial Creditor in Liquidation Proceedings: NCLAT

In the instant matter, the appellant claimed to be a Financial Creditor as their name was included in the balance sheet of the Corporate Debtor.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Adjudicating Authority’s order for liquidation valid when Resolution Plan remains unapproved, and no alternative plan in CIRP exists: NCLAT

The Liquidator should endeavor to sell the Corporate Debtor as a going concern in the Liquidation Proceeding, and the appellant may participate by submitting its plan.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Adequate pleadings and findings required to establish Section 65 IBC compliance; NCLAT revives Section 7 application

NCLT’s order did not contain specific findings regarding whether the entire loan amount had been paid and whether nothing remained due.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Closure of CIRP proceedings renders jurisdictional question regarding pre-CIRP dues irrelevant; NCLAT dismisses appeal

NCLAT observed that the issue raised by the appellant, while attractive, no longer had relevance after the closure of the CIRP proceedings.

Case Briefs Tribunals/Commissions/Regulatory Bodies

DCDRC finds Nik Bakers liable for deficient services for providing “unhealthy dye cake”; directs them to pay compensation of Rs 40,000

“Complainant had levelled the very serious allegations vis-a-vis the quality of the cake, and that too on the same day when the cake was consumed. Thus, a heavy duty was cast upon the bakers, who claimed themselves to be equipped with appropriate laboratory facility, to get the sample of the cake tested”.

Case Briefs Tribunals/Commissions/Regulatory Bodies

65 lakhs penalty imposed on stock traders by SEBI for violating insider trading rules in ABC Bearings and Timken India amalgamation

The merchant banker responsible for providing fair opinion to the ABC was given clean chit of the allegations of insider trading for lack of substantial evidence.

national consumer disputes redressal commission

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCDRC dismisses complaint for maintainability by applying doctrine of ‘Estoppel by Election’

“Intentional exercise of a choice between the alternatives bars the persons making the choice from the benefit of the one not selected on the principle of ‘estoppel by election’.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCDRC directs developers to hand over possession of flat or refund sum of 1 crore to a buyer

NCDRC remarked that the argument of dissolution of joint venture agreement relieving obligations of one of the opposite parties was misconceived and could not be accepted.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Resulting Company cannot be held liable for violation of LODR Regulations that occurred prior to its incorporation and listing: SEBI

In this matter SEBI had issued show cause notice to Piramal Pharma Ltd (Resulting Company) for alleged violations done prior to its incorporation and listing by Piramal Enterprises Ltd (Demerged Undertaking).

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCDRC directs ICICI bank to pay 25 lakhs compensation over lost property documents

“The issue is not of fixing a value to a piece of real estate which the complainant is in possession of. Rather, it is one of compensation for the deficiency in service and of indemnifying the complaint against any future loss.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT dismisses appeal due to delayed defect rectification and insufficient justification for delay

“In application for condonation of delay in refiling of appeal, the applicant/appellant has to give sufficient reason for not re-filing the appeal within the time prescribed.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT upholds NCLT’s order imposing ₹ 10 Lakh compounding fees for non-compliance with Section 185 of the Companies Act, 2013

In a matter concerning advancement of ₹360 crore loan by Hewlett Packard Enterprise India in violation of Section185 which only permit granting of loan for repayment of the loan and not for any other reason, the NCLT imposed ₹ 10 Lakh compounding fees.