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
MSME
Awards rendered by MSME Council can be challenged under Section 34 of A&C Act and not under Art. 226: Orissa High Court
In the matter at hand, the appellant contended that the Council’s award ought to have been interfered with under Article 226/227 of the Constitution, as there was no conciliation in accordance with the procedure prescribed, a condition precedent for initiation of arbitration proceeding under Section 18 (3) of the MSMED Act.
Whether the Law of Limitation is Applicable to the Claims under the MSMED Act, 2006
by Aparna Ramesh Devkar
HIGH COURT JUNE 2024 WEEKLY ROUNDUP| Stories on Liquor Policy Scam; False article on Anant Ambani Interview; Reservation for Disabled Persons; Organ donation; and more
A quick legal roundup to cover important stories from all High Courts this week.
Delhi HC dismisses PIL challenging appointment of National Small Industries Development Corporation’s Chairman
The Court dismissed the petition on the ground of non-maintainability as only non-appointees can assail the legality of the appointment or extension procedure.
Bombay High Court denies appointment of arbitrator for dispute against MSME
Bombay High Court held the instant applications under Section 11 of Arbitration Act as non-maintainable and dismissed the said applications.
[MSMED Act] Interest for delayed payment allowed even if principal amount already paid: Jharkhand High Court
“The MSMED Act, 2006 is a beneficial legislation with an object to promote and develop micro, small and/or medium enterprises, and the interpretation regarding a reference for the interest component alone would be in consonance with the object of the Act”
Can Micro & Small Enterprises Facilitation Council entertain references to arbitration from ‘Medium Enterprises’ under MSMED Act, 2006? Delhi High Court analyses
The MSMED Act, 2006 is a beneficial legislation for Micro, Small and Medium Enterprises and ought to be construed in a manner that is beneficial to such enterprises.
Delhi High Court | MSEFC cannot entertain independent claim by the ‘Buyer’ against the ‘Supplier’ under the MSMED Act, 2006
Delhi High Court observed that the MSMED Act, 2006 has been enacted for the purpose of extending benefits to Suppliers, who are registered under the Act as Micro or Small Enterprises, it does not contemplate the reverse obligation i.e. claims relating to the amount recoverable from the Suppliers under the MSMED Act, 2006.
Supplier can refer to MSME Facilitation Council for adjudication despite post-contract MSME registration: Calcutta High Court
“The MSMED Act of 2006 is a special statute as it was specifically enacted for facilitating the promotion and development of micro, small and medium Enterprises and enhancing their competitiveness.”
NCLAT upholds NCLT’s rejection to dislodge resolution plan against POSCO India Processing Center Private Limited
NCLAT observed that allowing present appeal holding the Successful Resolution Applicant ineligible would automatically make the resolution plan redundant.
Bombay High Court| Procedure of constitution of the Arbitral Tribunal is overshadowed by MSMED Act, but does not eclipse the agreement between parties in case of exclusive jurisdiction
Bombay High Court: In a petition filed by Gammon Engineers & Contractors Pvt. Ltd. under Section 34 of the Arbitration Act, 1996
India Spawns the Pre-Packaged Insolvency for MSMEs in Motion— The Insolvency and Bankruptcy Code (Amendment) Act, 2021
by Swarnendu Chatterjee*and G. Vidya Kamath**
Explained| Pre-deposit of 75% of arbitration award amount under Section 19 of the MSME Act, 2006 mandatory or discretionary?
Supreme Court: The bench of MR Shah* and AS Bopanna, JJ has held that in an appeal/application filed under Section 34 of
Pre-packaged Insolvency Resolution Process for MSMEs, introduced vide IBC(Amendment) Act, 2021
On August 12, 2021, the Central Government has notified the Insolvency and Bankruptcy Code Amendment Act, 2021 which has brought Pre-packaged Insolvency
Explained: Maintainability of counter claims in arbitration proceedings under Section 18(3) of the Micro, Small and Medium Enterprises Development Act, 2006
Supreme Court: The bench of Ashok Bhushan and R. Subhash Reddy*, JJ has held that the Micro, Small and Medium Enterprises Development
Del HC | Advocates are capable enough to approach Court, if aggrieved: Plea for non-inclusion of advocates as “Professionals” under MSME Act dismissed
Delhi High Court: A Division Bench of D.N. Patel, CJ and Prateek Jalan, J., held that as and when any advocate approaches the
BREAKING | Decoding of Rs 20 Lakh Crore Economic Package| New Definition of MSMEs; Tax filing due date extended to 30th November, 2020
Background: Amidst the Corona crisis, PM announced a special economic package with a new resolution. This economic package will serve as an
Impact of COVID-19 on the Insolvency and Bankruptcy Code, 2016
by Abhinav Shrivastava* and Sana Kamra**