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Insurers were cautioned that non-compliance of awards passed by Insurance Ombudsman within the prescribed timelines would be viewed very seriously.
It is to be noted that as per provisions of Code and regulations made thereunder, Committee of Creditors can be constituted only after receiving and collating the claims received by the IRP and verification thereof. There is no evidence on record to show that Mr. Gupta while discharging his duty as IRP, has collated and […]
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The short and interesting issue which arises in the present appeals is – whether conducting the arbitration proceedings at Delhi, owing to the appointment of a new arbitrator, would shift the ‘jurisdictional seat of arbitration’ from Panchkula in Haryana, the place fixed by the first arbitrator for the arbitration proceedings?
In view of the provisions of Section 14(1)(c) of the IBC, which have overriding effect over any other law, any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under the SARFAESI Act is prohibited. We are of the view that the appellant Bank could not have continued the proceedings under the SARFAESI Act once the CIRP was initiated and the moratorium was ordered.
IGGI Resorts International Limited Vs Tax Recovery Officer (Madras High Court) Facts- The petitioner was in arrears of income tax for a sum of Rs.29,84,56,331/- for the period prior to the year 2008. Earlier, proceedings were initiated and Tax Recovery certificate was issued on various dates (02.06.2000, 16.01.2003 and 19.03.2007) by the Tax Recovery Officer, […]
Rajarhat Welfare Association Vs DLF Commercial Complexes Ltd. (Competition Commission of India) As per the information available in public domain the DLF, being a new entrant in developing commercial space in Kolkata, is having only one property related to commercial retail space. In view of these factors the DLF cannot be treated as a dominant […]
Virendra Kumar Singh Vs Nandal Finance & Leasing Private Limited (Competition Commission of India) As regards the allegation of interconnection between the bidders on the basis that one of the directors is common in the group companies of both the Opposite Parties, the Commission, in the facts and circumstances of the instant case, observes that […]
Order of cancellation of registration and order rejecting application seeking revocation of cancellation are not sustainable as hearing was not granted and proper reasons were not assigned, violating principles of natural justice; Show cause notice issued is bereft of any material particulars and the same is quashed
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