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The High Court of Telangana has delivered an important decision on the issue regarding criminal liability of Directors and corporate governance. Gena Pharmaceuticals Limited of manufacturing and marketing drugs with objectionable Counsel for the petitioner, Advocate Zubin JF Poovathinkal, contended that the petitioner had stepped down from the position of Director in 2019, and the company's complete control was transferred …

High Court

Madras High Court: Every Claim Of Operational Creditors Includes Right To Their Property Under Article 300A Of The Constitution

The Madras High Court comprising of Justice N. Seshasayee held that every claim by operational creditors involves a right to their property under Article 300A of the Constitution of India. Observations by the High Court: The Madras High Court dismissed the writ petition and highlighted a key point that every claim by operational creditors involves a right to their property …

High

Noida authority in high court to delay registry at Lotus 300 till dues are paid

The Noida authority has filed a review petition before the Allahabad high court challenging its earlier order that directed that registry of apartments in Lotus 300 housing project in Sector 107, Noida, be executed without further delay. The authority has expressed its inability to issue permission for registry as land cost dues amounting to ₹ 166 crore is still pending …

Insolvency Resolution Professional Not 'Public Servant' Under Prevention Of Corruption Act: Delhi High Court

The Delhi High Court has ruled that an Insolvency Resolution Professional does not fall within the meaning of “public servant” under Section 2 of the Prevention of Corruption Act, 1988.Justice Tushar Rao Gedela said that it is not necessary that all duties which are broadly defined as “public duty” would encompass within itself “public character”.“Merely because the IP. The Delhi …

Delhi High Court

Delhi High Court To Hear On Monday Appeal Against Order Permitting Lessors To Carry Out Maintenance Of Aircrafts On Lease With Go First

The Delhi High Court will hear on Monday the challenge against a single judge order permitting various lessors to carry out inspection and interim maintenance tasks of their aircrafts, which are currently on lease with crisis-hit Go First airline, twice a month until final disposal of their pleas to de-register their planes from the airline.Senior Advocate Sandeep Sethi mentioned the. …

The Delhi high court on Wednesday allowed leasing companies to access aircraft leased to Go First for “inspections of their fleet and carry out engine and other maintenance work as required”. Go first airlines In an interim order passed by justice Tara Vista Ganju, the court directed aviation regulator Directorate General of Civil Aviation and relevant airport authorities to allow …

S.220 IBC | Prima Facie Disciplinary Committee Can Consist Only Of Whole Time Members: Bombay High Court Stays Insolvency Professional's Suspension

The Bombay High Court has stayed the suspension of registration of Insolvency Professional Kairav Anil Trivedi, who is accused of misrepresentation and entering into unauthorised agreement in a Corporate Insolvency Resolution Process. On May 23, 2023, the disciplinary committee had passed an order signed by Ravi Mital, IBBI Chairman, suspending Trivedi’s registration for six months. The court said that prima …

All India Annual Digest Of IBC Cases-2022- Supreme Court, High Courts And Tribunals

NCLT Has No Jurisdiction To Examine Legality Of Action Taken Under MPID Act: Bombay High Court

The Bombay High Court has held that the National Company Law Tribunal has no jurisdiction to examine the legality or validity of action taken under the Maharashtra Protection of Interest of Depositors Act and it is only the designated Court constituted under Section 6 of the said act that will have exclusive jurisdiction to deal with the same. More significantly, …