The Holder of the Recovery Certificate would be a Financial Creditor and would be entitled to initiate CIRP: Supreme Court
A Supreme Court Bench comprising Justices L. Nageswara Rao, B.R. Gavai and A.S. Bopanna, in Kotak Mahindra Bank Limited v. A. Balakrishna and Anr (Civil Appeal No. 689 of 2021), affirmed the view taken in
PAWNEE CAN NOT SELL THE PLEDGED GOODS TO ONE OWN SELF UNDER THE CONTRACT ACT: Supreme Court
Supreme Court bench comprising Justices MR Shah and Sanjiv Khanna held in a recent judgment1 that under Section 177 of the Contract Act, 1872 (“Contract Act”), in case of default by the pawnor, the pawnee
DUOMATIC PRINCIPLE, HOW IT CAN BE ESTABLISHED?
The Supreme Court bench comprising Justices Vineet Saran and JK Maheshwari held in a recent judgment1 that the Duomatic Principle is applicable even in the Indian context which states that ‘Strict adherence to a statutory
NCLT HAS JURISDICTION OVER PERSONAL GUARANTORS EVEN IF NO CIRP/LIQUIDATION IS PENDING AGAINST CORPORATE DEBTOR : SUPREME COURT
Supreme Court bench comprising of Justice S Abdul Nazeer and Justice Vikram Nath held that NCLT has jurisdiction over proceeding against personal guarantors of corporate debtor under Insolvency and Bankruptcy Code (“I&B Code”) even if
ARBITRAL TRIBUNAL CAN NOT ORDER INTERIM DEPOSIT OF DISPUTED AMOUNT, WHERE THE LIABILITY IS IN DISPUTE: Supreme Court
The Supreme Court bench comprising Justices M.R. Shah and B.V. Nagarathna held, in a recent judgment1 Arbitral Tribunal (“Tribunal”) cannot pass an interim order under Section 17 of the Arbitration and Conciliation Act, 1996 (the
SALARIES OF THOSE EMPLOYESS WHO WORKED DURING CIRP CONSTITUTE CIRP COSTS & PROVIDENT FUND, GRATUITY FUND TO BE KEPT OUT OF THE LIQUIDATION ESTATE
The Supreme Court bench comprising of Justices MR Shah and Aniruddha Bose in the recent Judgement1 held that: – the wages or salaries of only such workmen/employees, who worked during the Corporate Insolvency Resolution Process
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