In a groundbreaking decision, the Supreme Court has ruled that statutory set-off or insolvency set-off does not apply to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The court emphasized that Regulation 29 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, which pertains to mutual …
In a recent pronouncement on January 3rd, the Supreme Court underscored the crucial significance of maintaining judicial discipline. The Court asserted that when confronted with a decision from a coordinate Bench of the same High Court, it must be acknowledged and adhered to by the bench. However, this adherence is subject to the right of …
In a landmark decision on January 3, 2024, the Supreme Court firmly rejected the plea for a Special Investigation Team (SIT) or Central Bureau of Investigation (CBI) inquiry into the allegations stemming from the Hindenburg Research report on stock price manipulations involving the Adani conglomerate. The three-judge bench, headed by Chief Justice DY Chandrachud, alongside …
In a significant move, the Supreme Court has proffered comprehensive guidelines to High Courts, urging prudence in summoning government officials. The court, led by Chief Justice DY Chandrachud, along with Justices JB Pardiwala and Manoj Misra, crafted a Standard Operating Procedure (SOP) to curb arbitrary and frequent summoning of officials. Under the newly instituted SOP, …
In a decisive move on January 3, the Supreme Court rejected calls for a Special Investigation Team (SIT) to probe allegations against the Adani Group, as outlined in the Hindenburg Research report. Notably, the court dismissed the credibility of reports published by newspapers and the Organized Crime and Corruption Reporting Project (OCCRP). The three-Judge bench, …
In a groundbreaking move today, the Supreme Court refrained from instigating a Special Investigation Team (SIT) probe into the accusations of stock price manipulation against the Adani Group presented in the Hindenburg Research Report. However, the court directed the Securities and Exchange Board of India (SEBI) and the Union government’s investigative agencies to examine whether …
In a recent verdict, the Supreme Court has solidified the significance of registered sale deeds, emphasizing that unilateral changes made post-execution without the knowledge and consent of the other party are to be disregarded. The bench, comprising Justice Abhay S. Oka and Justice Pankaj Mithal, expounded on Section 47 of the Registration Act, stating that …
Land Ownership Decree Stands Firm: Supreme Court Asserts Sale Deed Validity Read More »
In a recent verdict on December 14, the Supreme Court, in response to an appeal seeking the quashing of an FIR, emphasized that High Courts, while wielding authority under Section 482 of the Criminal Procedure Code (CrPC), are legally obligated to assess whether accusations constitute an offense. The case involved a complainant (second respondent) and …
In a significant legal development, the Supreme Court, led by Chief Justice DY Chandrachud alongside Justice JB Pardiwala and Justice Manoj Misra, dismissed a Special Leave Petition challenging an order issued by the National Company Law Appellate Tribunal in Chennai. The three-Judge Bench made a noteworthy observation emphasizing that the bar of limitation cannot be …
In a pivotal legal development, the Supreme Court has cast uncertainty over the entitlement of dissenting financial creditors to the minimum value of their security interest under the Insolvency and Bankruptcy Code of 2016. The case, DBS Bank Ltd Singapore v. Ruchi Soya Industries Ltd and another, prompted the bench comprising Justices Sanjiv Khanna and …
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