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LEXSTREET ADVISORS LLP

SECURITIES LAW UPDATE
Securities Law update :  SEBI is  coming out with regulations on Corporate bonds soon to encourage companies to tap this route, says SEBI Chairman, Mr. Ajay Tyagi. He further said that the government's proposal to mandate listed companies to raise…

NISHANT
NISHANT MEHROTRA 10 Feb 2018

Arbitration and Conciliation Act, 1996 - Discharge of a contract - Meaning of - Effect of  fraud/coercion/undue influence thereon - arbitrability of the dispute :: Discharge of a contract by an agreement
SC :: in M/s ONGC Mangalore Petrochemicals Ltd. Versus M/s ANS Constructions Ltd. & Anr. dt. 07.02.2018 :: Arbitration and Conciliation Act, 1996 - Discharge of a contract - Meaning of - Effect of  fraud/coercion/undue influence thereon - arbitrability of…

NISHANT
NISHANT MEHROTRA 9 Feb 2018

Court permits use of Skype for compromise
Karnataka High Court :: in Rahul Chandra Kone Vs. Jahanvi :: Husband, residing in USA, permitted to participate in compromise proceedings in family court via online video calling facility Skype.

NISHANT
NISHANT MEHROTRA 8 Feb 2018

Securitisation Application under Section 17(1) of the SARFAESI Act is maintainable only when actual/physical possession is taken by the secured creditor or the borrower loses actual/physical possession of the secured assets.
Allahabad High Court :: Full Bench :: in M/s N.C.M.L. Industries Ltd. through Director and another Vs. Debts Recovery Tribunal, Lucknow and others :: Securitisation Application under Section 17(1) of the SARFAESI Act is maintainable only when actual/physical possession is…

NISHANT
NISHANT MEHROTRA 6 Feb 2018

Second marriage after conversion to Islam is void and also bigamy
SC :: Second marriage after conversion to Islam is void and also bigamy.Ss.5(I),11,13 and 15 - Bigamy - Husband already married under Hindu Law, by embracing Islam, solemnising a second marriage under Muslim law.Held, that would not result in dissolution…

NISHANT
NISHANT MEHROTRA 6 Feb 2018

Party invoking the arbitration clause does not have to file a formal application seeking a specific prayer for reference of the dispute to arbitration as long as it raises an objection in the WS
Delhi High Court :: in Parasramka Holdings Pvt. Ltd. vs Ambience Private Ltd. & Anr. :: Party invoking the arbitration clause does not have to file a formal application seeking a specific prayer for reference of the dispute to arbitration…

NISHANT
NISHANT MEHROTRA 5 Feb 2018

Rejection of application by corporate debtor for initiation of corporate insolvency resolution process.
NCLAT :: in Unigreen Global (P.) Ltd. v. Punjab National Bank :: Section 10 IBC, 2016.(A) Where application of corporate debtor for initiation of insolvency resolution is rejected in the absence of any reasons recorded by the Adjudicatory Authority, such…

NISHANT
NISHANT MEHROTRA 3 Feb 2018

Securitisation Act shall apply to all existing agreements even though lender was not a notified ‘financial institution’ on date of execution of borrowing agreement and was notified subsequently
SC :: Securitisation Act shall apply to all existing agreements even though lender was not a notified ‘financial institution’ on date of execution of borrowing agreement and was notified subsequently – Sections 13 and 37 read with section 7 of…

NISHANT
NISHANT MEHROTRA 2 Feb 2018

Sections 7 or 9 or 10 IBC and applicability of Limitation Act, 1963
NCLAT :: in Speculum Plast (P.) Ltd. v. PTC Techno (P.) Ltd.  :: Sections 7 or 9 or 10 IBC read with Limitation Act, 1963 ::1. Limitation prescribed under the Limitation Act cannot be made applicable to the Code.2. Only…

NISHANT
NISHANT MEHROTRA 2 Feb 2018

Quashing of criminal complaint by HC - Proper manner and mode of dispossal - S. 482 Cr.P.C.
Quashing of criminal complaint by HC - Proper manner and mode of dispossal - S. 482 Cr.P.C.SC :: High Court in it's order not setting out full facts of the case and the circumstances in which the complaint was filed,…
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