Supreme Court Refuses to Stay Electoral Bond Scheme: Association for Democratic Reforms vs. Union of India (2021) LEGAL ISSUE: Whether the Electoral Bond Scheme, 2018 should be stayed. CASE TYPE: Public Interest Litigation, Constitutional Law Case Name: Association for Democratic Reforms & Anr. vs. Union of India & Ors. [Judgment Date]: 26 March 2021 Date […]
Date of the Judgment: 26 March 2021 Citation: (2021) INSC 187 Judges: S.A. Bobde (Chief Justice of India), A.S. Bopanna J., V. Ramasubramanian J. Can a company’s board remove its chairman for loss of confidence? The Supreme Court of India recently addressed this question in a high-profile dispute involving Tata Sons and Cyrus Mistry. This
Supreme Court Orders Deposit of Debt in Rapid Metro Case: Rapid MetroRail Gurgaon Ltd. vs. Haryana Mass Rapid Transport Corporation Ltd. (2021) LEGAL ISSUE: The core legal issue revolves around the enforcement of a consent order regarding the payment of debt due to lenders following the termination of concession agreements for the Rapid Metro project
Supreme Court Clarifies Ineligibility Under Section 29A of IBC Extends to Section 230 of Companies Act in Liquidation: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd. (2021) INSC 158 Date of the Judgment: 15 March 2021 Citation: (2021) INSC 158 Judges: Dr. Dhananjaya Y Chandrachud, J and M R Shah, J Can promoters who
Supreme Court Clarifies Unitholder Consent for Mutual Fund Winding Up: Franklin Templeton Case (2021) LEGAL ISSUE: Interpretation of regulations regarding unitholder consent for winding up of mutual fund schemes. CASE TYPE: Securities Law, Mutual Funds Case Name: Franklin Templeton Trustee Services Private Limited and Another vs. Amruta Garg and Others etc. [Judgment Date]: 12 February
Supreme Court clarifies transfer of winding-up proceedings to NCLT under IBC: Action Ispat vs. Shyam Metalics (2020) LEGAL ISSUE: Transfer of winding-up proceedings to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Action Ispat and Power Pvt. Ltd. vs. Shyam Metalics and Energy
Supreme Court Restricts Asset Freezing Under Companies Act: Usha Ananthasubramanian vs. Union of India (2020) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) can freeze the assets of a person under Section 241 of the Companies Act, 2013, for alleged mismanagement in a company other than the one they are directly associated with. CASE
Supreme Court mandates Provident Fund for Contractual Employees of Pawan Hans: Pawan Hans Ltd. vs. Aviation Karmachari Sanghatana (2020) LEGAL ISSUE: Whether contractual employees are entitled to provident fund benefits under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 or the company’s own trust regulations. CASE TYPE: Labour Law Case Name: M/S. PAWAN HANS
Supreme Court Allows Revised Income Tax Returns Post-Amalgamation: Dalmia Power Ltd. vs. ACIT (2019) LEGAL ISSUE: Whether revised income tax returns can be filed after the statutory deadline due to company amalgamation proceedings. CASE TYPE: Income Tax Law Case Name: M/S Dalmia Power Limited & Anr. vs. The Assistant Commissioner of Income Tax Circle 1,
Supreme Court Upholds Committee of Creditors’ Commercial Wisdom in Essar Steel Insolvency Resolution Date of the Judgment: 15 November 2019 Citation: (2019) INSC 1067 Judges: R.F. Nariman, J., Surya Kant, J., V. Ramasubramanian, J. Can a resolution plan approved by a Committee of Creditors be overturned by the National Company Law Appellate Tribunal (NCLAT)? The
Supreme Court Sets Aside Bail in Serious Fraud Case: SFIO vs. Nittin Johari (2019) LEGAL ISSUE: Whether the High Court correctly granted bail to the accused in a case involving serious economic offenses, considering the mandatory conditions under Section 212(6)(ii) of the Companies Act, 2013 and general principles for bail under Section 439 of the
Supreme Court Sets Aside Bail in Serious Fraud Case: SFIO vs. Nittin Johari (2019) Read Post »
Supreme Court Upholds Reopening of IL&FS Accounts: Hari Sankaran vs. Union of India (2019) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) can order the reopening of a company’s accounts under Section 130 of the Companies Act, 2013, based on allegations of fraud or mismanagement. CASE TYPE: Corporate Law Case Name: Hari Sankaran vs.
