The NCLT Mumbai bench of Mr. Charanjeet Singh Gulati and Justice Lakshmi Gurung has held that once a petition under section 95 of the IBC is filed, the interim moratorium under section 96 is triggered. Brief Facts This application has been filed by, Raghavendra Joshi under Section 60 r/w Section 60 of the Insolvency and Bankruptcy Code, 2016 read with …
The Supreme Court has made it clear that a first appeal and a second appeal arising out of two proceedings cannot be clubbed and disposed of by a common judgment even though the parties are essentially the same and the property in dispute is common. It observed that considerations to be made in case of a first appeal under Section …
The Patna Income Tax Appellate Tribunal has held that the compensation received in respect of an award or agreement has been exempt from the levy of income tax as per section 96 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013. The two-member bench of Sonjoy Sarma and Manish Borad has observed that …
In IFCI Limited v. Manoj Toshniwal, the National Company Law Tribunal, Kolkata Bench stayed the application filed by IFCI Limited under Section 95 of the Insolvency and Bankruptcy Code, 2016 against the personal guarantor of the corporate debtor on the ground that as per Section 96 of the Code, all pending legal action or initiation of fresh legal proceedings against …
The Supreme Court observed that an appellate court's jurisdiction under Section 96 of the Code of Civil Procedure, involves a rehearing of appeal on questions of law as well as fact.The bench comprising Justices S. Abdul Nazeer and Surya Kant observed thus while setting aside an order passed by Karnataka High Court which had dismissed the appeal filed against a …