Newsletter

1. Anil Kumar Sharma v Ridhiraj Builders and Promoters LLP Citation: Anil Kumar Sharma Vs. Ridhiraj Builders and Promoters LLP (16.11.2022 – Jaipur Bench): 2021 SCC OnLine NCLT 8960 C.P. (IB) 102/2019; Decided by Hon’ble Justice Deep Chandra Joshi (Judicial) and Hon’ble Member Prasanta Kumar Mohanty (Technical). Ratio: The National Company Law Tribunal held that […]

1. Mr. Rajeev Vidyadharan and Ors v P.J. Mathews and OrsCitation: Rajeev Vidyadharan and Ors. vs. P.J. Mathews and Ors. (18.10.2022 – NCLAT): MANU/NL/0827/2022; Decided by Hon’ble Justice M. Venugopal, J. Member (Judicial) and Naresh Salecha, Member (Technical)Ratio: The National Company Law Appellate Tribunal (NCLAT) upheld the order of the National Company Law Tribunal (NCLT) to appoint an

1. Mrs. Renukadevi Rangaswamy v Regen Powertech Pvt Ltd Citation: Mrs. Renuka Devi Rangaswamy vs. Regen Powertech Pvt Ltd.: 2021 SCC OnLine NCLT 16430, IA(IBC)/591(CHE)/2021 in IBA/1424/2019, NCLT Chennai, Decided by Hon’ble Justice Ramathilagam(Judicial) and Anil Kumar B, Member(Technical) Ratio: In this case, the NCLAT has ruled that the transfer of assets among group companies is not considered fraudulent

  1. Trident Fabricators Pvt. Ltd. v Hiranmayee Energy Ltd Citation: Trident Fabricators Pvt. Ltd. Vs. Hiranmayee Energy Ltd: 2021 SCC OnLine NCLT 14663, Company Appeal (AT) (Insolvency) No. 989 of 2022. Decided by Hon’ble Justice Ashok Bhushan Chairperson, Hon’ble Justice M. Satyanarayana Murthi (Judicial) and Barun Mitra (Technical) Ratio: In the above case the Operational Creditor (OC)

1. State Bank of India v Sudip Bijoy Dutta, Director of Ess Dee Aluminium LtdCitation: State Bank of India vs. Sudip Bijoy Dutta, Director of Ess Dee Aluminium Ltd. (16.06.2022 – NCLT – Kolkata): 2022 SCC OnLine NCLAT 2687. Decided by Rohit Kapoor (Judicial) and Harish Chander Suri, Member (Technical)Ratio: Section 60(1) of Insolvency and Bankruptcy Code, 2016

1. Harsh Vinimay Pvt. Ltd. v Gajanan Industries Ltd Citation: Harsh Vinimay Pvt. Ltd. v Gajanan Industries Ltd:  C.P. No. (IB) 2521/MB/2018, NCLT, Mumbai Bench, Decided by Hon’ble Justice H. V. Subba Rao (Judicial) and Smt. Anuradha Bhati (Technical).  Ratio: The Application was rejected and was held as non-maintainable due to the nationwide outbreak of coronavirus and lockdown.

1. Aradhya Wire and Ropes Pvt. Ltd. v South Indian Bank LimitedCitation: Aradhya Wire and Ropes Pvt. Ltd. vs. South Indian Bank Limited: 2022 SCC OnLine NCLT 218, I.A. No. 63 OF 2022 in CP (IB) No.366/BB/2019, NCLT, Bengaluru Bench. Decided by Rajeswara Rao Vittanala (Judicial) and Ashutosh Chandra (Technical)Ratio: The provisions of Section 12A

1. Prafulla Purushottamrao Gadge v Narayan Mangal and Ors Citation: Prafulla Purushottamrao Gadge vs. Narayan Mangal and Ors: 2022 SCC OnLine NCLAT 3472, Comp. App. (AT) (Ins.) No. 498 of 2022, NCLAT; New Delhi. Decided by Hon’ble Justice Ashok Bhushan (Chairperson) and Ms. Shreesha Merla (Technical), 06.05.2022. Ratio: The Court held that, as per the

1. Union of India v Ganpati Dealcom Pvt. LtdCitation: Union of India v. Ganpati Dealcom Pvt. Ltd: (2023) 3 SCC 315 Civil Appeal 5783 of 2022, Supreme Court of India. Decided by Hon’ble Justice CJI NV Ramana, Justices Krishna Murari and Hima KohliRatio: The Court also struck down the forfeiture provisions contained in Section 5 of the Benami

1.  State of Orissa & Ors vs. M/s Utkal Distilleries Ltd Citation: State of Orissa & Ors vs. M/s UtkalDistilleries Ltd.; (2022) 5 SCC 326, 2022 SCC OnLine SC 259, Civil Appeal No. s 5666 – 5668 of 2009, Supreme Court of India; decided by Hon’ble Justice L Nageshwar Rao & Hon’ble justice B.R. Gavai, 03.03.2022