NISHANT
NISHANT MEHROTRA 17 May 2018 6:00pm
Dispute among stakeholders in corporate debtor company is not ‘dispute’ as contemplated u/S. 5(6) of Insolvency and Bankruptcy Code
1054 0 0
NCLAT has held, in an appeal against a common order passed by the NCLT’s Allahabad Bench, that any dispute within a corporate debtor company (“debtor”) is not one defined in the Insolvency and Bankruptcy Code (the Code), which only takes into consideration disputes between the debtor and its operational creditors (“creditors”).The appellant is the…
NISHANT
NISHANT MEHROTRA 16 May 2018 1:27pm
Electricity authorities are not entitled to disconnect power supply, being essential service with reference to corporate debtor, for non-payment of electricity bill during the moratorium period
1765 0 0
NCLT Ahemdabad Bench :: Insolvency and Bankruptcy Code, 2016 – Section 14 – Moratorium – Supply of essential service to corporate debtor – Power of Adjudication Authority to declare – Can electricity authorities disconnect power supply to corporate debtor – Whether the electricity authorities are not entitled to disconnect the power supply to the corporate…
NISHANT
NISHANT MEHROTRA 16 May 2018 10:50am
Additional substantial questions of law in the second appeal only be framed during the hearing and not in the judgment
1310 0 0
SC :: High court can frame additional substantial questions of law in the second appeal only during the hearing and not in the judgment.High court had allowed the appeal on the two additional questions, which were framed in the judgment and not during the time of admission of the second appeal or at the time of hearing the second appeal.Though the…
NISHANT
NISHANT MEHROTRA 15 May 2018 5:37pm
Excessive delay by the Tribunal in passing judgement shakes the confidence of the litigants.
1546 0 0
 ITAT Mumbai :: in Greaves Limited vs. CIT :: Income Tax Act, S. 254(2) r.w Rule 34(5): Excessive delay by the Tribunal in passing judgement shakes the confidence of the litigants. Under Rule 34(5) of the Tribunal Rules read with Shivsagar Veg. Restaurant 317 ITR 433 (Bom) & Otters Club (Bom), orders have to be passed invariably within…
NISHANT
NISHANT MEHROTRA 15 May 2018 11:27am
Dishonour of Cheque - Notice Returned Unversed / Unclaimed - When Notice said to have been Served on Accused ?
4003 0 0
Kerela High Court :: Reckoning of the date of deemed receipt as the date of return of notice as in the instant case, where the notice has been returned unserved/unclaimed is unlikely to result in any prejudice to even the accused, as the accused would only get further time from the date of deemed service to discharge the liability due under the…
NISHANT
NISHANT MEHROTRA 15 May 2018 10:33am
Where petitioners are strangers to the arbitration proceedings, the findings recorded in the arbitration proceedings pending between the respondents inter se could not be made binding to the petitioners
1453 0 0
Gujrat High Court :: Companies Act, 2013 – Section 241 read with section 7 of the Arbitration and Conciliation Act, 1996 – Oppression / Mismanagement – Petition for relief against – Certain disputes regarding allotment of shares of the respondent company were pending before the arbitral tribunal – Pending arbitration, petitioners, being shareholders,…
NISHANT
NISHANT MEHROTRA 22 Feb 2018 11:52pm
cheque was not for valuable consideration debt has to be in existence as a crystallized demand and a demand contengent upon happening of an event
1823 0 0
Gujrat High Court :: Negotiable instruments act 1881   sec. 138  complainant / payee filling up signed blank cheque after 17 year - liability of drawer yet to be determined /civil suits by complainant pending - complainant filling up cheque on basis of report by chartered Accountant a mediator -Held :: cheque was not for valuable consideration…
NISHANT
NISHANT MEHROTRA 20 Feb 2018 2:40pm
Mandate of Section 42 of Arbitration and Conciliation Act 1996 explained
3154 0 0
Calcutta High Court :: Appeal against the order of the Arbitration Court refusing to entertain a challenge to an arbitral award refused to entertain such challenge in the light of mandate of Section 42 of the A&C Act, 1996. Held :: In view of the mandate in Section 42, once a petition under Part-I of the Act pertaining to an arbitration agreement…
NISHANT
NISHANT MEHROTRA 17 Feb 2018 1:19pm
necessary to seek handwriting expert report in section 138 Negotiable Instructions Act cases
2187 0 0
Orissa High Court :: Petition under Section 482 of CrPC - Criminal case u/s 138 Negotiable Instructions Act for sorting of cheque - Specific case of accused that he gave blank cheques in question to the complainant to keep them in safe custody and use them as and when required and directed by the petitioners & the complainant misused the said cheques…
NISHANT
NISHANT MEHROTRA 17 Feb 2018 10:31am
Section 21A of the Banking Regulation Act, 1949, will not operate in those States where there is a State Debt Relief Act that deals with the subject matter of relief of 'agricultural indebtedness'.
2145 0 0
SC :: in JAYANT VERMA & ORS. Vs. UNION OF INDIA & ORS. :: Section 21A of the Banking Regulation Act, 1949, which prohibits Courts from reopening a debt between a banking company and its debtor on the ground that the rate of interest charged by the banking company is excessive, will not operate in those States where there is a State Debt Relief…
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