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"Bombay High Court Quashes Tax Proceedings Against Uttam Value Steels Ltd. Post-Resolution Under IBC" "Resolution Plan Approval Under IBC Shields Corporate Debtor from Pre-Insolvency Tax Claims."

  1. Background of the Case: The petition was filed by Uttam Value Steels Ltd. and Mr. Subodh Karmarkar challenging multi...

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High Court Quashes Reassessment Proceedings Against Uttam Galva Metallics Ltd. Resolution Plan Under IBC Precludes Tax Reassessment for Pre-Resolution Period, Rules Bombay High Court.

The Bombay High Court quashed the reassessment proceedings initiated by the Income Tax Department against Uttam Galva Metallics Ltd. for the assessmen...

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Bombay High Court Rules in Admiralty Jurisdiction Case: Cockette Marine Oil vs. OSV Beas Dolphin. Court Rejects Summary Judgment Amidst Insolvency Proceedings, Highlights Impact of IBC Moratorium on Maritime Claims.

The Bombay High Court, under the Admiralty jurisdiction, considered an application for summary judgment filed by Cockette Marine Oil DMCC against OSV ...

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Supreme Court Upholds Bombay High Court's Interpretation of 'Drawer' Under NI Act. Clarifies that authorized signatories of a company are not liable to pay interim compensation under Section 143-A for dishonoured cheques

The Supreme Court dismissed the appeals challenging the Bombay High Court's decisions dated 08.03.2023 and 29.03.2023. These decisions had set aside t...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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Supreme Court Partially Modifies High Court Judgment on Partition of Ancestral Properties. Respondents' entitlement to shares adjusted; self-acquired properties excluded from partition.

Civil Appeals challenge the judgment of the High Court of Karnataka, Dharwad Bench, in R.F.A. No.3052 of 2010 and Cross-objection No. 103 of 2011. The...

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Appeal Dismissed as Infructuous After Final Decree in Suit. Supreme Court dismisses appeal against High Court order due to subsequent final decree in the suit, rendering the appeal moot.

Civil Appeal arises from the Order passed by the High Court of Karnataka on 21st March 2022 in Writ Petition No. 10975 of 2020 (GM-CPC). The High Cour...

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Supreme Court Validates NCLAT's Ruling on Financial Debt Classification under IBC. Global Credit Capital Limited and others deemed financial creditors in Mount Shivalik Industries Ltd. insolvency case.

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT), confirming that the appellants are financial creditors u...

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"Supreme Court Reinforces Special Court's Jurisdiction Under Insolvency and Bankruptcy Code" "IBC Offenses to Be Tried by Special Courts as Legislated, Despite Amendments to the Companies Act"

The Supreme Court addressed an appeal filed by the Insolvency and Bankruptcy Board of India (IBBI) against a Bombay High Court judgment that quashed a...