Board resolution passed by directors who did not possess DIN, was void in eyes of law (Punjab & Hayrana) 611,
RERA and I & B Code must be held to co-exist and in event of a clash, RERA must give way to Code  (SC) 622,
Period of 14 days given to NCLT for decision under section 7(4) is directory and not mandatory (SC) 622

Dispute as to inheritance of shares is eminently a civil dispute which could not be decided in proceedings u/s 241/242 of CA, 2013 (SC) 302,
Operational creditor cannot seek intervention after approval of Resolution Plan by Adjudicating Authority (NCL-AT) 332,
A partnership firm having only four members could not have been converted into a company (Bombay) 376

Central Medical Service Society (CMSS) did not abuse dominance by introducing WHO-prequalified  certification in tender  for purchase of anti-TB drugs (CCI) 238,
Statutory right of a financial creditor u/s 7 of IBC cannot be curtailed to any 'inter- creditor agreement' (NCL-AT) 204,
Penalty imposed u/s 15HA of SEBI Act for unfair trade practice was to be set aside due to inordinate delay of 7 years  in issuing SCN (SAT-Mumbai) 242

Claim of fix depositors pf DHFL to be considered by Committee of Creditors and Administrator without being influenced by  restrain orders passed by High Court (SC) 120,
Section 14(1)(d) will apply to statutorily freeze 'occupation' that may have been handed over  under a joint  Development Agreement (SC) 95,
Plea of collusion in initiation of proceeding under IBC to be decided by Adjudicating Authority  (SC) 116

Collective Investment scheme floated by a private trust is illegal (SC) 87,
Allotment made without intimating minority shareholders and denying rights issue was to be set aside (NCL - AT) 1,
Assets couldn't be sold to a person who is ineligible u/s 29A IBC during liquidation process (NCL - AT) 44

Once accused admitted issuance and his signature on cheques, presumption of legally enforceable debt u/s 139 would operate (SC) 1 ,
 Scheme  for revival and arrangement approved by majority of creditors was to be allowed (Delhi) 11,
RP's plea seeking release of consignment held by container freight station and not by corporate debtor to be rejected (NCLT- Chennai) (SB) 51

Insolvency & Bankruptcy Code (Amendment) Act , 2020 (St.) 126,
CIRP plea filled u/s 7 to be set aside in absence of any evidence that amount was disbursed to corporate debtor (NCL-AT) 432,
CIRP of non-payment of service charge dismissed as creditor could't prove it raised loan for  corporate debtor (NCL-AT) 428

SAT denies to reduce penalty imposed by BSE for not appointing company secretary and independent directors (SAT-Mumbai) 287,
Collective decision of CoC is binding on all members of CoC (NCL-AT) 291,
Renouncement of right in favour of more than 50 persons didn't amount to conversion of right issue to public issue (Madras) 248

Stock broker can't produce additional evidence to prove identity of its client without prior approval of Tribunal (SAT-Mumbai) 204,
Default is established if cheques issued by corporate debtor towards payment of invoices are dishonoured (NCL - Mum.) 200,
Company under liquidation can't invoke section 9 for initiation of CIRP against a third company (NCL- AT) 220

Where pursuant to initiation of CIRP, appellant was ready to settle matter with financial creditor having 91 per cent voting share , appellant was to be allowed to file an  application under section 12A before CoC (NCL-AT) 108,
Complaint of professional misconduct filed after 7 years of signing  audit report was to be quashed (Delhi)144,
Appellant who gave loan to co. from joint family corpus funds could file plea for restoration of Co.'s name (NCL-AT) 125

Companies (Winding Up) Rules, 2020 (St.) 1,
CLB has no inherent power to review its order (Madhya Pradesh) 95,
Operational creditor itself undergoing CIRP couldn't maintain CIRP petition against another company  (NCLT - Hyd.) 82

Enforcement of section 230(11)/(12) of Companies Act, 2013 (St.) 94,
CIRP to be withdrawn when corporate debtor handed over cheque to financial creditor for default amount  (NCL-AT) 699,
RoC cannot strike off name of co. from register of companies without serving notice to all directors of company  (NCl-AT) 671

Termination of lease of property allotted by Govt. was not illegal if company failed to establish specific purpose (SC) 537,
Exemption from FCRA to Govt. organisations (St.) 82,
Application of section 460 of the Companies Act, 2013 to LLPs (St.) 82

CIRP plea filed u/s 9 against corporate debtor not maintainable if claimed amount relates to its sister concern (NCL-AT) 522,
 NCLAT doesn't have jurisdiction to adjudicate disputes arising under Mines & Minerals Development Act (SC) 445,
Section 238 of IBC cannot override  Municipal Corporation of Greater Mumbai's right in its properties (SC) 477

HC Couldn't proceed with auction of assets of corporate debtor during moratorium  (SC) 350,
Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process)(Amendment) Regulations, 2020 (St.) 36,
Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 (St.) 41

Apollo Hospitals Enterprise Ltd., In re ( NCLT - Chennai) 271,
Edelweiss Asset Reconstruction Company  Ltd.   v. Sachet Infrastructure  (P.)  Ltd. (NCL-AT) 328,
Mathew (C.J.) v. Greendot  Hotels & Resorts (I)  (P.) Ltd. (NCL-AT) 305

Incorporating : 
Avail Financial Services Ltd. v. Sunworld City (P.) Ltd. (NCLT - Allahabad) 253,
Bharat Chugh v. PD Advisory Services LLP (NCLT - New Delhi) 205,
Katragadda Narayana Rao v. Avanti Leathers Ltd. (NCLT - Hyd.) 211

Accord Life Spec (P.) Ltd.  v. Orchid Pharma  Ltd.(NCLAT) 122,
Action Ispat  & Power (P.) Ltd. v. Shyam  Metalics & Energy Ltd. (Delhi) 143,
Hero Fincorp Ltd.  v. Rave Scans (P.) Ltd. (NCL-AT) 183

Asha Vijaykumar  Chopra v. Recovery  Officer, Securities and Exchange  Board of  India (SAT - Mum.) 78,
Flipkart India  (P.) Ltd. v. Cloud  Walker Streaming 
Technologies (P.) Ltd. (Kar.) 41,
IDBI Bank  Ltd. v.  Official  Liquidator  (SC) 21

Central Bureau  of  Investigation v. Arvind  Khanna (SC) 798,
Dhananjay  Mishra v. Dynatron Services  (P.) Ltd. (NCLAT) 824,
ICAP  India  (P.) Ltd.  v. SEBI  (SAT - Mum.) 814

Axis Bank Ltd. v. Baypark Hotels & Resorts  (P.)  Ltd.  (NCLT -  Hyd.) 713,
Capvision Investment  Advisor  v.  SEBI (SAT - Mum.) 730,
Central Bank  of India  v. SEBI  (SAT - Mum.) 744

Hemang Phophalia v. Greater Bombay Co-operative Bank Ltd. (NCL-AT) 626,
Jet Airways (India) Ltd. v. State Bank of India (NCL-AT) 642,
Kalupur Commercial Co-operative Bank  Ltd. v. State of Gujarat (Guj.) 668

Authorised Officer,Indian Bank v. Visalakshi (D.) (SC) 566,
Arbitration and conciliation act, 1996,
Securitisation and reconstruction of financial assets and enforcement of Security interest act, 2002

First Step Ventures Ltd. v. Frontier Lifeline (P.) Ltd. (NCL-AT) 451,
Arbitration and Conciliation Act, 1996,
Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy code,2016,
Securities and Exchange board of India Act, 1992,

Financial statements or Board's report,
Corporate insolvency resolution process,
Taxes and Remittance of sale proceeds

Companies (Meeting of Board and its Powers) Amendment Rules, 2019 (St.) 4,
SC upholds COMPAT's order directing investigations against UBER (SC) 141,
Quoting a wrong provision of statute while exercising power under Act won't invalidate order passed by authority (SAT-Mumbai) 169

Financial Creditors could not be discriminated against by directing 100 percent payment to operational creditors (NCL-AT) 34,
Civil suit filed for realisation of decreed amount as per foreign judgement is pre-existing dispute (NCT-AT) 16,
Validity of an assignment agreement assigned by bank to ARC could not be decided by Tribunal (NCL-AT) 43

IBC specifically mandates physical delivery of demand notice issued under section 8 of the Code (NCLT - Kolkata) 733,
Requirement u/s 10(3) of IBC for obtaining shareholders' approval before filing application u/s 10 is retrospective (NCLT-Hyderabad) 722,
Pendency of proceeding under any Act for recovery of amount in default from corporate debtor is no bar for initiation of CIRP (NCLT-Hyderabad) 722

SAT upholds penalty imposed for unfair trade practices in scripts of Tata Tele, MTNL and Power Grid  (SAT-Mum.) 501,
Functions transferred from stock exchange to clearing corporation would be appealable  under section 23L of SCRA (SAT-Mum) 527,
SEBI (Buy- back of Securities) (Second Amendment) Regulations, 2019 (St.)148

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SEBI and Corporate Laws Magazine - October 21, 2019

SEBI and Corporate Laws Magazine - October 21, 2019

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