Company Law judiciary-2

HC quashes ROC action deactivating DINs of all disqualified Directors

Jai Shankar Agrahari Vs Union Of India And Another (Allahabad High Court)

Allahabad High Court held thaty there is no provision which empowers ROC to de-activate DIN, only on the ground that a Director has incurred disqualification under Section 164(2) (a) or his Office has become vacant under Section 167(1) (a). It also quashes List of disqualified directors published by ROC in public gazette....

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Karnataka HC explains disqualification of directors | Section 164(2)

Yashodhara Shroff Vs. Union of India (Karnataka High Court)

Yashodhara Shroff Vs. Union of India (Karnataka High Court) (a) It is held that Section 164(2)(a) of the Act is not ultra vires Article 14 of the Constitution. The said provision is not manifestly arbitrary and also does not fall within the scope of the doctrine of proportionality. Neither does the said provision violate Article […...

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Cyrus mistry won case against tata sons in NCLAT

Cyrus Investments Pvt. Ltd. Vs Tata Sons Ltd. & Ors. (NCLAT)

The proceedings of the sixth meeting of the Board of Directors of ‘Tata Sons Limited’ held on Monday, 24th October, 2016 so far as it relates to removal and other actions taken against Mr. Cyrus Pallonji Mistry (11th Respondent) is declared illegal and is set aside....

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Posted Under: Company Law | |

Proviso to Section 167(1)(a) mandating Vacation of Directorship is valid: HC

G. Vasudevan Vs Union of India (Madras High Court)

G. Vasudevan Vs Union of India (Madras High Court) Section 167 of the Companies Act as stated earlier gives instances where the office of a Director shall become vacant. Section 167(1)(a) states that if a Director incurs any disqualification specified in Section 164, then he vacates his seat as a The proviso which is under […]...

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Delhi Court convicts a Director for holding Directorship of More than 20 Companies

Registrar of Companies Vs Sh. Roop Kishore Madan (Tis Hazari Court, Delhi)

Under the Rule 16 of The Companies (Appointment and Qualification of Directors) Rules 2014, the accused has the responsibility being Director to forward to the Registrar copy of resignation along with the applicable fees in Form DIR-11 within 30 days of such resignation....

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Section 164(2)- Disqualification of directors not deactivate or cancel DIN

Mukut Pathak & Ors. Vs. Union of India and Anr (Delhi High Court)

On analysing section 164(2) it was concluded that the same operates prospectively and a director would not demit office in terms of Section 167(1) of the Companies Act, 2013 on account of a disqualification incurred under Section 164(2) for conduct prior to the amendments to the Act introduced from May 7, 2018. Moreover, Central governm...

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Company under insolvency cannot be Struck off: ROC order set aside

M/s J R Diamonds P Limited (Vinod Tarachand Agrawal) Vs. Registrar of Companies ( NCLT Ahmedabad)

M/s J. R. Diamonds P Limited (Vinod Tarachand Agrawal) Vs. Registrar of Companies (NCLT Ahmedabad) In path-breaking judgement delivered by Hon’ble NCLT Ahmedabad, set aside ROC order to struck down the name of the company from ROC register. M/s J R Diamonds P Limited, company wherein no financial creditors are their was under Insolvency...

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Posted Under: Company Law |

HC held incorporation of Company vitiated by fraud as Invalid

Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal)

Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared that the incorporation of M/s. Colour Books Associates Private Limited (Respondent No.1 Company, is vitiated by fraud and consequently, the Certificate of Incorporation dated 14th May, 2018 issued by the Governme...

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Posted Under: Company Law | |

ED cannot attach property of Corporate Debtor undergoing CIRP without prior approval of Appellate Tribunal

JSW Steel Limited Vs Mahender Kumar Khandelwal & Anr. (NCLAT)

The Director, Deputy Director and other officers of ‘Directorate of Enforcement’ are prohibited from attachment of any property of the ‘Corporate Debtor’ (Bhushan Power and Steel Limited) without prior approval of this Appellate Tribunal. The property already attached by them be released in favour of the ‘Resolution Professional...

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Posted Under: Company Law |

NCLAT allows extension of Time to Complete Insolvency resolution process

M/s. Alpha Corp Development Pvt. Ltd. Vs M/s. Earth Infrastructure Ltd. (NCLAT, Delhi)

M/s. Alpha Corp Development Pvt. Ltd. Vs M/s. Earth Infrastructure Ltd. (NCALT) In terms of third proviso of sub-section (3) of Section 12, as we find that the ‘Corporate Insolvency Resolution Process’ of the ‘Corporate Debtor’ is pending and has not been completed within the period referred to in the second proviso, we hold that ...

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Posted Under: Company Law | |

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