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Supreme Court Allows Appeal in Insolvency Case Due to Absence of Financial Debt Against Pledgor. Petition Under Section 7 IBC Not Maintainable as No Disbursement Was Made to Corporate Debtor, and Pledge Alone Does Not Constitute Financial Debt Under Section 5(8) of Insolvency and Bankruptcy Code, 2016.

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dismissing an appeal against an order of the Adjudicating Auth...

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Supreme Court Dismisses Appeal in Benami Property Dispute Under Benami Transaction (Prohibition) Act, 1988. Plaintiffs Failed to Prove Property Was Held for Benefit of Hindu Undivided Family Coparceners Under Section 4(3)(a), Making Suit Barred Under Section 4(1).

The dispute originated from a civil suit filed by Laxmi Prasad, his wife, and two daughters against his two sons and subsequent purchasers, seeking de...

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Supreme Court Dismisses Appeals in Land Reforms Case Upholding High Court's Remand Order. Fraud in Obtaining Occupancy Rights Under Karnataka Land Reforms Act, 1961 Vitiates Proceedings, Justifying Remand for Fresh Disposal Despite Delay.

The appeals arose from a judgment of the Division Bench of the High Court of Karnataka at Bangalore in Writ Appeal No.1563 of 2007 connected with Writ...