NISHANT
NISHANT MEHROTRA 25 Jan 2018 9:21pm
Oppression/Mismanagement
1059 0 0
NCLT Mumbai Bench :: In Pawan Kumar Kanodia vs. Kanodia Tex Industries :: Companies Act, 1956 – Section 399 read with section 397/398 – Oppression/Mismanagement ::(A) Where the petitioner has failed to demonstrate that he has requisite number of shareholding as prescribed under the law in the company he is debarred by operation of law to pursue petition…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 6:41pm
When can the Issue on jurisdiction of civil court be tried?
1027 0 0
SC :: Civil Suit — Jurisdiction/Jurisdictional Error — Issue on jurisdiction — When can be tried — Decision on jurisdiction — When is mandatory: The issue of jurisdiction which goes to the root of the case, if found involved has to be tried at any stage of the proceedings once brought to the notice of the court. [S.N.D.P. Sakhayogam v. Kerala Atmavidya…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 5:09pm
IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 notified
1612 0 0
The Insolvency and Bankruptcy Board of India, in exercise of powers conferred under Sections 196, 217 r/w Section 240 of I&B Code, 2016, has put forth certain regulations, called the ‘Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017’ to be applicable to grievances and complaints against service…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 3:21pm
Effect of delay caused due to arbitrator not entering upon reference
8865 0 0
SC :: in Visakhapatnam Port Trust v. Continental Construction Co. :: Arbitration and Conciliation Act 1996 - Section 37 – Limitation – Period of limitation for initiating arbitration proceeding – Effect of delay caused due to arbitrator not entering upon reference – Merely because the first set of arbitrators failed to enter upon the reference…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 3:15pm
A winding up petition is not a legitimate means of seeking to enforce payment of the debt which is bona fide disputed by the company.
965 0 0
SC :: in Amalgamated Commercial Traders (P.) Ltd. vs. A.C.K. Krishnaswami and Anr. :: A petition presented ostensibly for a winding up order but really to exercise pressure will be dismissed, and under circumstances may be stigmatized as a scandalous abuse of the process of the court. At one time petitions founded on disputed debt were directed…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 2:46pm
A member/shareholder cannot be a creditor of the company filing a petition for its winding up under section 433 at the same time, while filing a composite petition under section 397/398 and section 111A as a member/shareholder
1004 0 0
Bombay High Court :: in MODI FIBRES LTD. v. MODI RUBBER LTD. AND OTHERS :: Companies Act, 1956 – Section 10F read with sections 397/398, 111A and 433 – Appeal against order of Company Law Board – Order admitting a composite petition under sections 397/398 and 111A – Maintainability of composite petition by a shareholder who has also filed…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 2:14pm
Oppression/Mismanagement
1421 0 0
Company Law Board :: in Actimus Biosciences (P.) Ltd. and others v. Smt. C Ananta Satyavati and another :: Companies Act, 1956 – Sections 111A, 397/398, 399 and 402 – Oppression/Mismanagement – Petition for relief against – Composite petition seeking relief both under section 111A and section 397/398 – Application questioning locus standi…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 12:19pm
The moment a private limited company passes a special resolution converting itself into a public limited company in terms of section 21 read with section 31, the Registrar of Companies has no authority to make any decision in regard to conversion
857 0 0
SC :: in Ram Parshotam Mittal and another v. Hillcrest Realty Sdn. Bhd. and others :: Companies Act, 1956 – Sections 21 and 87(2)(b) – The moment a private limited company passes a special resolution converting itself into a public limited company in terms of section 21 read with section 31, the Registrar of Companies has no authority to make any decision…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 12:00pm
Oppression/Mismanagement
1143 0 0
Bombay High Court :: in Ravi Kiran Agarwal and another v. Moolchand Shah and others :: Companies Act, 1956 – Sections 397/398, 402 and 405 – Oppression/Mismanagement :: (A) The illustrations enumerated in clauses (a) to (g) of section 402 are but examples of the nature of reliefs that can be granted in a petition under section 397/398, and the…
NISHANT
NISHANT MEHROTRA 25 Jan 2018 11:53am
Companies court is empowered to award interest on the dues of secured creditors/workmen for the further period from the date of winding up order strictly in terms of rule 179
1056 0 0
Bombay High Court :: in Rashtriya Mill Mazdoor Sangh v. Official Liquidator, High Court, Bombay :: Rule 179 read with sections 529, 529A and 530 of Companies Act, 1956 – Winding up – Payment of subsequent interest – Power of court to award interest to the workmen from the date of winding up order – The court is empowered to award interest on the…
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