Knowledge Corner

Knowledge Corner - February 2021 - Issue 04

Knowledge Corner - February 2021 - Issue 04

Hon’ble Supreme Court says that unless and until the procedures under Order XLI Rules 27, 28 and 29 are followed, the parties to the appeal cannot be permitted to lead additional evidence and or the appellate court is not justified to direct the court from whose decree the appeal is preferred or any other subordinate court, to take such evidence and to send it when taken to the Appellate Court. H.S.Gowtham V. Rama Murthy, 2021 SCC Online SC 87.

View Details

Knowledge Corner - February 2021 - Issue 03

Knowledge Corner - February 2021 - Issue 03

Hon’ble Supreme Court held that a consent decree would not serve as an estoppel, where the compromise was vitiated by fraud, misrepresentation, or mistake. Compack Enterprises India (P) Ltd V. Beat Singh, SLP (Civil) No.2224 - 2225 of 2021.

View Details

Knowledge Corner - February 2021 - Issue 02

Knowledge Corner - February 2021 - Issue 02

Hon’ble Supreme Court held that section 10A of the Insolvency and Bankruptcy code barred filing the application for the commencement of the CIRP in respect of a Corporate Debtor for a default occurring on or after 25 March 2020, even if such application was filed before 5 June 2020. The Apex Court also held that the retrospective bar on the filing of application for the commencement of CIRP during the stipulated period does not extinguish the debt owed by the Corporate Debtor of the right of creditors to recover it. Ramesh Kymal V. M/s.Siemens Gamesa Renewable Power Pvt. Ltd., 2021 SCC Online SC 72.

View Details

Knowledge Corner - February 2021 - Issue 01

Knowledge Corner - February 2021 - Issue 01

Hon’ble Supreme Court says that there is no reason to continue the sealing of premises by the Municipal Corporation of Delhi If they were actually sold as shops. M.c.Mehta V. Union of India, Writ Petitions (Civil) No.4677/1985. Hon’ble Supreme Court held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower’s liability, then the creditor in such a case will not become financial creditor as defined under the Insolvency and Bankruptcy Code. The Court also held that such a creditor could be a secured creditor but will not be a financial creditor under the IBC entitled to take part in the insolvency resolution process. Phoenix Arc Pvt Ltd V. Ketulbhai Ramubhai Patel, Civil Appeal No. 5146 of 2019.

View Details
whatsappcontact us