Banking
IBC – Avoidance application is independent of the resolution of the Corporate Debtor and can survive the CIRP. [2023 PLRonline 0102 (NCLAT)]
2023 PLRonline 0102 (NCLAT) NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI Company Appeal (AT) (Insolvency) No. 437 of...
Read moreCompanies Act, S. 250 – Striking off – Even after dissolution of the company in view of striking off its name from the register, its existence remains only for the purpose of realising the amount due to the company or for the payment or discharge of the liabilities or obligations of the company. [2023 PLRonline 0101 (NCLAT)]
Companies Act S. 250 - Name of the appellant company was struck off from the register of the ROC -...
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IBC – CIRP – STAYED by P&H High Court | Counsel for the Financial Creditor was also the counsel for the RP | RP did not secure 66% votes u/s 22 IBC, and subsequently approached the FCs for increasing his vote share | Appointment per-se was not as per the statutory provisions and would go to the root of the matter. [PLRonline.in]
CIRP proceedings / Resolution Plan stayed by PUNJAB AND HARYANA High Court | Counsel for the Financial Creditor was also...
Read moreIBC S. 22 – Decision in regard to appointment of IRP as RP or replacement of IRP is a decision based on commercial wisdom of CoC which is not amenable to judicial review
2020 PLRonline 5206 (NCLAT) NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Acting Chairperson [Justice Anant Bijay...
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Banking – Auction – Mortgage – Receiver has responsibility to maintain the property in good condition and prevent its deterioration – Creditor cannot later claim that the property lost value while in their custody, will be accountable for any loss in property value.
While the attempt of the banks and financial institutions to minimize their losses makes good business sense, there cannot be...
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Filing and objections- Efiling – When an electronic facility is available and an Application is filed in electronic form, the filing is complete as soon as it is registered electronically. [2022 SCeJ 844]
Filing and objections- Efiling - When as per Rule 10, sub-rule (2), when an electronic facility is available and an...
Read moreSarfaesi S. 13(2), 13 (3-A) – Writ – Appellant having availed the statutory remedy of representation as such no interference is called for in the dismissal order of the High Court.
Sarfaesi – Writ - A writ petition had been filed against notice under Section 13 (2) issued by the bank...
Read moreSarfaesi Act, S. 18 – DRAT cannot entertain an Appeal under SARFAESI Act without Pre- deposit. PLRonline 5154302 (SC)
LogIn to read 2020 PLRonline 5204 Supreme Court Of India Deepak Gupta, J. Aniruddha Bose, J Union Bank of India v. Rajat...
Read moreLook Out circular – Banking – From quantum of loss caused to a banker, it cannot be presumed that there was a fraud committed by the borrower/guarantor, moreso when no criminal case alleging fraud has even been filed. PLRonline 414654
Poonam Paul v. Union of India, 2022 PLRonline 0498 ; ((2023-1)209 PLR 403 (SN)) Look Out circular - Banking -...
Read moreLook Out Circular – Procedure for opening LOCs
Look-Out-Circular-Instruction-by-IB-MHA-310810Download
Read moreLook Out Circular – History of LOCs
History of LOCs Even though LOCs were first officially recognised in 1979, they have recently been used, frequently, to telling...
Read moreISSUANCE OF LOOK OUT CIRCULARS (LOC) FOR INDIRECT TAX DEFAULTS
Issuance-of-Look-Out-Circulars-LOC-for-indirect-tax-defaults-reg-taxguru1.in_Download
Read moreLook Out circular – Permission granted to travel abroad. (MP)
Ishhipal Kaur Bhatia v. Union of India SHIPAL-KAUR-BHATIA-v.Download
Read moreLok Out circular – Wishes to travel abroad for short period- Court is inclined to grant permission on certain conditions. (Tel.)
Mullapudi-Srivan-v.-Bureau-of-ImmigrationDownload
Read moreBanking – Forged DD ( Demand draft) – Encashment – Bank entitled to recover the sums claimed from the person who encashed it
Banking - Forged DD ( Demand draft) – Encashment - If it was a stolen leaf on which signatures of...
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