The Bangalore Sales Corporation v Sark Spice Products Pvt. Ltd., the National Company Law Tribunal (“NCLT”), Kochi Bench, comprised of Shri. P. Mohan Raj (Judicial Member) and Shri. Satya Ranjan Prasad (Technical Member), held that an unregistered Partnership Firm cannot institute insolvency proceedings under IBC.
SC Imposes penalty of Rs.5 lakhs and directed the same to be deposited within 4 days to the SC registry. The amount will be transferred to Supreme Court Bar Association (SCBA) to be used for the welfare of families affected by Covid.
A writ petition is issued against the proceedings going on in lower courts and in such proceeding, the lower court is exceeding its powers. Once the writ of prohibition is allowed either by the Supreme Court or in High Court the proceedings of the lower court come to an end.
The Hon’ble Supreme Court in its latest judgement dated February, 11 2021 declared that the proceedings under Article 32 of the Constitution by a purchaser, seeking relief in respect to a real estate project cannot be entertained.
The time period of paying the money lapsed, few more months also went by chasing the builder to pay the money as per RERA order but all this begged no results and Homebuyers are forced to knock on the doors of RERA Authority again.
The term Moratorium is nowhere defined in the Code, however, the term in basic parlance means, ”a stopping of activity for an agreed amount of time”.
The Hon’ble Karnataka High Court on Oct 25, 2019, stayed the insolvency proceedings on the grounds that the Tribunal lacked jurisdiction to adjudicate a claim for damages.
Corporate Insolvency Resolution Process (CIRP) cannot be initiated against government undertakings as it will defeat the very purpose of the provisions stated in article 12 of the constitution of India.
The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.
A person has the fundamental right to lodge a complaint or grievance to the court regarding any administrative action. The protection of fundamental rights and the assurance of natural justice are the two most important aspects of writ jurisdictions.
Marital cruelty can be physical, mental, emotional, or sexual. Mental cruelty involves causing agony and suffering to a partner in some way that makes it difficult for either person to live with. Physical cruelty includes beatings, slaps, and other forms of physical violence. Sexual cruelty, on the other hand, include forcing a partner to indulge in sexual intercourse or unnatural sex.
Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.
If the non-payment of a clear undisputed amount is being illegally and dishonestly avoided, whilst at the same time very large sums of money are being raised and spent by the same group or carrying on large real estate development projects.
CA. Venkata Siva Kumar, the petitioner, is a chartered accountant who has registered as an IP with the IBBI. In his writ petition, he claimed that the IBBI Regulations, 2016 are in violation of Articles 14, 19, and 21 of the Constitution and should be overturned.
The Adjudicating Authorities have affirmed the IBC’s goals through a series of judgments and further proved its prevalence over the other laws of land.
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