2024 SCC Vol. 10 Part 2
Bombay Stamp Act, 1958 (60 of 1958) — Ss. 33, 34, 37, 4(2), 4(1) and Sch. I Art. 25 Expln. I — Stamp duty on agreement to sell — Liability to pay under the 1958 Act
Companies Act 2013
NFRA imposes monetary penalty on Statutory Auditor and Engagement Partner of Lexus Granito India Ltd. in view of their professional misconduct
It is the duty of the auditor to conduct audit with professional skepticism and due diligence and report their opinions in an unbiased manner and the same was not done in this case.
Whether Customs Act creates a first charge, overriding the charge in favour of secured creditor? SC answers
“Provisions in the Customs Act, 1962 do not negate or override the statutory preference in terms of Section 529A of the Companies Act, 2013”.
Supreme Court| Section 140(5) of the Companies Act constitutional; Proceedings do not come to an end on resignation/ removal of an auditor
Supreme Court observed that if the interpretation that once an auditor resigns, the proceedings under Section 140(5) stand terminated and are no longer further required to be proceeded, an auditor may resign to avoid Tribunal’s final order and its consequence as provided under the second proviso to Section 140(5).
2023 SCC Vol. 1 Part 2
Central Goods and Services Tax Act, 2017 — S. 174(2)(c) — Scope of: First part protects any right, privilege, obligation, etc. under
Rectificatory jurisdiction under Section 111A of the Companies Act, 1956 cannot be invoked for violation of SEBI Regulations: Supreme Court
The Supreme Court observed that the important role of the Regulator cannot be circumvented by simply asking for rectification under Section 111A of the Companies Act, 1956.
MoF notifies the Securities Contracts (Regulation) Amendment Rules, 2022
On 2-1-2023, the Ministry of Finance has notified the Securities Contracts (Regulation) Amendment Rules, 2022 to amend the Securities Contracts
Order of stay/moratorium under the Companies Act, 2013 prohibits the initiation of any proceedings; Parties cannot be referred to Arbitration: Delhi High Court
The Delhi High Court ruled that the moratorium granted by the NCLAT, staying the institution of suits and proceedings against the Corporate Debtor, after the resolution process was initiated against it under Sections 241 and 242 of the Companies Act, 2013, was akin to an order of moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016.
2022 SCC Vol. 9 Part 5
Arbitration and Conciliation Act, 1996 — Ss. 7, 8 and 11 — Essential requirements of arbitration agreement: When there is discernible intention
Calcutta High Court | ROC can initiate multiple/ parallel proceedings upon discovery of additional material warranting inquiry under Section 206 of Companies Act
Calcutta High Court | While dismissing a writ petition challenging the capacity of Registrar of Companies (ROC) to initiate multiple/
Green Finance and Environmental Governance
by Kritika Krishnamurthy† and Tapasi Mohapatra††
NCLT Recognises the Role of a Company Secretary as a Watchdog to Ensure Corporate Governance
by Aditya Vikram Jalan† and Urvashi Misra††
“Reduction of Share Capital is a matter of domestic concern”; NCLAT confirms reduction of the share capital approved by the shareholders of Precious Energy Services Ltd.
National Company Law Appellate Tribunal (NCLAT): While deciding the instant appeal filed by Precious Energy Services Ltd., against the order
Whether Shareholders have the right to remove Directors of a company? NCLT explains in light of Companies Act, 2013
National Company Law Tribunal, Kochi: Expressing that the management of business affairs in a company is not a sole duty of a
NCLAT | On not finding flaws in the NCLT order, abstains from interfering- Petitioner not being authorised under S.7 IBC, lacks locus standi
National Company Law Appellate Tribunal (NCLAT)- The Coram of Justice Jarat Kumar Jain (Judicial Member), Ashok Kumar Mishra (Technical Member), and Alok
Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC
Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.
NCLAT | If objections raised in regard to “Scheme” under S. 230 of Companies Act, 2013 are procedural in nature, can they be overruled? Tribunal expounds
National Company Law Appellate Tribunal (NCLAT): A Division Bench of Justice Jarat Kumar Jain (Judicial Member) and Balvinder Singh (Technical Member) while addressing
Del HC | Will the jurisdiction to address issues of oppression and mismanagement, elections to board of directors of company, etc., vest exclusively with NCLT? HC considers
Delhi High Court: Najmi Waziri, J., while addressing the present matter considered the following issues: Whether elections to the Board of Directors of
