Company Law judiciary-2

NCLAT Chennai: Malavika Hegde vs. IndusInd Bank – Settlement Terminates CIRP

Malavika Hegde, Suspended Director of Coffee Day Global Limited Vs IndusInd Bank Ltd. & Anr. (NCLAT Chennai)

Read full text of NCLAT Chennai order in case of Malavika Hegde vs. IndusInd Bank, where a settlement led to termination of CIRP proceedings....

Posted Under: Company Law | |

Settlement between parties cannot be directed by way of an order under IBC: NCLAT

Arun Kumar Vs Sripriya Kumar (NCLAT Chennai)

NCLAT Chennai held that any kind of settlement is between the Parties and no settlement can be directed by way of an Order under the Provisions of Insolvency and Bankruptcy Code, 2016 (IBC, 2016)....

Posted Under: Company Law | |

Investigation Report under S. 212(13) of Companies Act can only be provided to Concerned Person

Ranveer Singh Vs Serious Fraud Investigation Office (Delhi High Court)

In present facts of the case, the Hon’ble High Court observed that the investigation report cannot be obtained under Section 212(13) of the Companies Act, 2013 if the Person seeking report is not concerned with the case in any manner or in other words, do not comply the mandate of Section 212(1)(a) to (d) of the Companies Act, 2013....

Detailed enquiry requested by NCLAT as approaching court with fabricated document become rampant

Everest Pharmaceutics Pvt Ltd. Vs Office of Registrar of Companies (NCLAT Delhi)

NCLAT Delhi requested the Secretary, Ministry of Corporate Affairs, Govt of India to get detailed enquiry/ investigation by an appropriate authority/agency as in number of court proceedings the parties are coming with fabricated document....

Posted Under: Company Law | |

Tata Power’s Service Connection Application to be Considered Without Arrear Payment: NCLAT

Tata Power Western Odisha Distribution Limited Vs Jagannath Sponge Prviate Limited (NCLAT Delhi)

NCLAT rules in favor of Tata Power, stating no arrears payment needed before the date of Resolution Plan approval against Jagannath Sponge Pvt Ltd....

Posted Under: Company Law | |

NCLAT Dismisses Kotak Mahindra’s Appeal: Scope Limited After ‘Approval of Resolution Plan

Kotak Mahindra Bank Vs Orchid Pharma Limited (NCLAT Chennai)

NCLAT Chennai dismisses Kotak Mahindra Bank's appeal in the Orchid Pharma case, affirming limited authority post approval of resolution plan. Analysis and conclusion provided....

Posted Under: Company Law | |

Minority Shareholder cannot challenge Director Induction if not attended Board Meetings

Radhakrishnan Babu Nirmala Vs Precise Limbus Eye Care Private Limited (NCLAT Chennai)

A deep dive into NCLAT Chennai judgment on minority shareholder rights & Board Meetings in case of Radhakrishnan Babu Nirmala Vs Precise Limbus Eye Care....

Posted Under: Company Law | |

Settlement for foreclosure of concession agreement re Kiratpur – Ner Chowk Project is as per resolution framework

Indian Bank Vs Infrastructure Leasing & Financial Services Ltd. (NCLAT Delhi)

NCLAT Delhi held that the settlement entered into by KNCEL (Kiratpur Ner Chowk Expressway Limited) and NHAI (National Highways Authority of India) for foreclosure of the Concession Agreement relating to Kiratpur - Ner Chowk Project under the MoRTH Guidelines is in accordance with the approved Resolution Framework...

Posted Under: Company Law | |

Deceased’s Legal Representative Can Participate in Sec. 241/242 Proceedings without becoming member of company

Ambadi Investments Limited Vs Valli Arunachalam (NCLAT)

NCLAT Chennai held that there is `no Law’, which specifically envisages that unless, the `Legal Representatives’, become `Members’ of a `Company’, the `Legal Representatives’, of the `Deceased’, shall not become a `Party’, to the `Proceedings’, under Section 241 and 242 of the Companies Act, 2013....

Posted Under: Company Law | |

Remedies against ‘Oppression and Mismanagement’ are non-arbitral and can be adjudicated by NCLT/ NCLAT

Indus Motor Company Private Limited Vs T.P. Anilkumar (NCLAT Delhi)

NCLAT Delhi held that reliefs prayed for in the Company Petition against ‘Oppression and Mismanagement’ could only be adjudicated by a Court/Tribunal of competent jurisdiction, which in the present case is the NCLT/NCLAT under Sections 241 & 242 of the Act....

Posted Under: Company Law | |

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