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“Gandhi’s trusteeship principle is with which profit-making cannot be devoid of social responsibility”, said the country’s Corporate Affairs Minister, Nirmala Sitharaman during the session in Rajya Sabha for the passing of the Companies (Amendment) Act, 2019. The Companies (Amendment) Bill, 2019 was passed by the Lok Sabha on 26th July 2019 and by the Rajya...

In the case of  K. Kishan v. Vijay Nirman Company Pvt Ltd (CIVIL APPEAL NO. 21824 OF 2017) it was held by the Hon’ble Supreme Court that when objections are pending under Section 34 or Section 37 of the Arbitration and Conciliation Act it will be held that the amount is disputed debt. The facts...

In the case of Vijay Kumar Jain vs Standard Chartered Bank and others(Civil Appeal No.8430 Of 2018) the main issue before the Hon’ble Supreme Court is whether erstwhile board of directors of the Corporate Debtor should be given confidential documents like resolution plan. Standard Chartered Bank Ltd. and DBS Bank Ltd. who were the financial...

In the case of Uttara Foods and Feeds Private Limited v. Mona Pharmachem (CIVIL APPEAL NO. 18520 OF 2017 (Arising out of SLP(C) No. 26824 of 2017)) the Hon’ble Supreme Court recommended that competent authorities amend the relevant rules to include inherent powers of the tribunals. The facts of the case were that Mona Pharmachem...

In the case of Transmission Corporation of Andhra Pradesh Ltd. v. Equipment Conductors & Cables Ltd.( CIVIL APPEAL NO. 9597 OF 2018) the Hon’ble Supreme Court dismissed the order of the NCLAT since there was no debt payable in law. The facts of the case were that the Appellant i.e. Transmission Corporation of Andhra Pradesh...

In the case of Karpara Project Engineering Private Limited v BGR Energy Systems Ltd. ( Company Appeal (AT) (Insolvency) No. 622 of 2018)  the main issue before the NCLAT was whether dispute was unwarranted and spurious due to which it cannot be accepted as existence of dispute. The facts of the case were that the...