Advocate Sushila
Advocate Sushila Ram 18 Apr 2021 7:19pm
SUPREME COURT REITERATES THAT ACKNOWLEDGEMENT OF LIABILITY HAS THE EFFECT OF EXTENDING LIMITATION PERIOD
742 0 0
The #SupremeCourt has in a recent case of Asset Reconstruction Company (India) Limited vs Bishal Jaiswal and Anr. passed a Judgment dated 15-04-2021 and reiterated that #acknowledgement of #liability/#debt has the effect of commencing a fresh period of #limitation under Section 18 of the Limitation Act 1963 and such acknowledgement must be contained…
Advocate Sushila
Advocate Sushila Ram 16 Apr 2021 6:35pm
SUPREME COURT HOLDS THAT CLAIMS NOT FORMING PART OF APPROVED RESOLUTION PLAN ARE EXTINGUISHED
1665 0 0
Recently, the Hon’ble #SupremeCourt of India in the case of Ghanshyam Mishra and Sons Pvt. Ltd. v. Edelweiss Asset Reconstruction Company Limited, (Civil Appeal No.8129/2019), vide its Judgment dated 13.04.2021 held that any #creditor including Central/State #Government or any local authority is bound by #ResolutionPlan as approved by Adjudicating…
Advocate Sushila
Advocate Sushila Ram 16 Apr 2021 6:23pm
DELHI HIGH COURT REJECTS BRITANNIA’S PLEA AGAINST ITC LTD. ON TRADEMARK INFRINGEMENT
1605 0 0
The Hon’ble #DelhiHighCourt passed a Judgment dated 05.04.2021 in the case of Britannia Industries Ltd. v. ITC Ltd. & Ors. {CS (COMM) 553/2020} and held that #packaging of M/s #ITC Ltd.’s Sunfeast Farmlite 5-Seed Digestive Biscuits is not deceptively similar to that of M/s #Britannia Industries Ltd.’s NutriChoice Digestive Biscuits and does not…
Advocate Sushila
Advocate Sushila Ram 11 Apr 2021 12:34pm
SUPREME COURT HOLDS THAT BUSINESS RUN BY KARTA OF HINDU UNDIVIDED FAMILY CANNOT BE PRESUMED TO BE A JOINT FAMILY BUSINESS
1701 0 0
The 3-Judges Bench of the Hon’ble #SupremeCourt of India in the case of Kiran Devi vs Bihar State Sunni Wakf Board & Ors. [CIVIL APPEAL NO. 6149/2015], vide its Judgment dated 05.04.2021 held that a business run by #Karta of Hindu Undivided Family (‘#HUF’) cannot be presumed to be a joint #familybusiness. It was also reiterated in this case that…
Advocate Sushila
Advocate Sushila Ram 11 Apr 2021 12:17pm
SUPREME COURT HOLDS THAT ISSUE OF NOVATION OF A CONTRACT CANNOT BE CONSIDERED IN A PETITION UNDER SECTION 11 OF THE ARBITRATION AND CONCILAITION ACT, 1996
759 0 0
The Three Judge Bench of the Hon’ble #SupremeCourt of India comprising of Justices Rohinton Fali Nariman, B.R. Gavai and Hrishikesh Roy passed a Judgment dated 06.04.2021 in the case of Sanjeev Prakash v. Seema Kukreja & Ors.{Civil Appeal Nos.976 of 2021} and held that a question of #novation of #Contract which contains an #arbitration clause cannot…
Advocate Sushila
Advocate Sushila Ram 11 Apr 2021 12:09pm
SUPREME COURT HOLDS THAT COMPANY COURT CAN NOT DECIDE ON DEFAULT IN A WINDING UP PROCEEDINGS
956 0 0
The #SupremeCourt of India in the case of Shital Fibers Ltd. v Indian Acrylics Limited (Civil Appeal No. 1105/2021), vide its Judgment dated 06.04.2021 held that the Company Court while exercising its powers under Sections 433 and 434 of the #CompaniesAct, 1956 is not in a position to decide the party that has #defaulted in non-compliance with the…
Advocate Sushila
Advocate Sushila Ram 4 Apr 2021 1:28pm
SUPREME COURT HOLDS THAT LIMITATION ACT, 1963 IS APPLICABLE TO THE INSOLVENCY PROCEEDINGS UNDER IBC
1580 0 0
The #SupremeCourt of India in the case of Sesh Nath Singh & Anr. versus Baidyabati Sheoraphuli Co-Operative Bank Ltd and Anr. [Civil Appeal NO. 9198 OF 2019], vide its Judgment dated 22.03.2021 held that the #Limitation Act 1963 is applicable to proceedings under Insolvency and Bankruptcy Code, 2016 (‘#IBC’).To read more, please visit the link…
Advocate Sushila
Advocate Sushila Ram 4 Apr 2021 1:19pm
ACT FOR FINANCING INFRASTRUCTURE RECEIVES PRESIDENT’S ASSENT
832 0 0
On 28-03-2021, the National Bank For Financing Infrastructure and Development Act (the Act), 2021 received #Presidentialassent. The Act which seeks to establish the National Bank for Financing Infrastructure and Development (#NBFID) as the principal Development Financial Institution (DFI) to fund infrastructure projects in India was introduced in the…
Advocate Sushila
Advocate Sushila Ram 4 Apr 2021 1:09pm
SUPREME COURT DISMISSES INSOLVENCY APPLICATION FILED DURING PENDENCY OF ARBITRATION PROCEEDINGS
629 0 0
The 3 Judge Bench of the #SupremeCourt has recently passed a Judgment dated 26-03-2021 in Indus Biotech Private Limited vs Kotak India Venture and Others, where the Apex Court decided upon the issue that whether during the pendency of #arbitration proceedings, a petition under Section 7 of the Insolvency and Bankruptcy Code 2016 (#IBC) is maintainable.To…
Advocate Sushila
Advocate Sushila Ram 4 Apr 2021 12:55pm
SUPREME COURT HOLDS THAT INSOLVENCY PROCEEDING IS MAINTAINABLE AGAINST A CORPORATE GUARANTOR OF A NON CORPORATE PRINCIPAL BORROWER
1012 0 0
The Supreme Court of India in the case of Laxmi Pat Surana versus Union Bank of India & Anr. [Civil Appeal No. 2734/2020], vide Judgment dated 26.03.2021 held that #CorporateInsolvencyResolutionProceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘#IBC’) is maintainable against a #CorporateGuarantor even if the Principal Borrower…
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