Can Banks make the Managing director personally liable for the dues of the company on basis of a cleverly drafted share pledge agreement?  Company A took credit facility from the bank and that the MD signed the credit facility agreement in its official capacity. In addition to it, MD pledges its 20,000 shares through share pledge agreement in favor of bank against the credit facility taken b......

The Delhi Govt. constituted committee to recommend on scheme to appreciate the role of advocates and to constitute a welfare scheme for them. The committee recommendations were accepted and Delhi CM Welfare scheme for Advocates brought into force. The conditions for getting benefit of this scheme were as follows: Enrolled with Bar council of Delhi Member of any bar association such as Pa......

There were riots occurred in North-east part of Delhi and as a result various people have lost their life and property. There were allegations regarding role of Facebook and its failure of control over the hatred content. The Parliament constituted a committee to look into this issue and as a result they summoned the Facebook India President & he appeared before it. The Legislative assembly of......

Firstly, this Judgment is one of first case when Supreme Court came heavily on Real Estate Company JP Secondly, those days Real Estate allottee were not considered as Financial Creditors because it is way before days of Pioneer Urban Thirdly, this Judgment is Post admission stage but controversy is with regard to jurisdiction of NCLT/ NCLAT to disturb the commercial wisdom of COC and Fourthly, ......

ABC Limited imported some products and claimed exemption from custom duty as per N/N but 2 years later, Department of Revenue Intelligence served show cause Notice under Section 28(2) of Customs act, 1962 demanding the exemption so claimed on ground that it was erroneously calculated because there were misrepresentation of facts. The Show cause Notice challenged before SC on ground that Department......

This Judgment is important not because it has brought end to the famous corporate battle but also because it has given light on various subjects such as; Power of Tribunal under the law Service Law aspects of contract of personal services and reinstatement Specific overruling and importance of consistency in pleadings and not to do multiple amendments How too much use of CPC c......

SUMMARY OF JUDGMENT The Covid-19 pandemic was an unexpected tragedy if not disaster to the entire world including Republic of India. India as mixed economy has socialistic as well as capitalistic obligations to ensure the balance between un-equals. The role of state as welfare state was duly tested and people have had legitimate expectations of waiver and relief from the Govt. concern. On same li......

1.       EMERGENCY ARBITRATION RECOGNIZED IN INDIAN LAW? YES, by virtue of Party autonomy 2.       CAN NON-SIGNATORY BE DRAGGED IN ARBITRATION? YES, by virtue of Group company doctrine EMERGENCY ARBITRATION IS WELL RECOGNIZED BY VIRTUE OF PARTY AUTONOMY Emergency Arbitrator is a sole arbitrator appointed by the Arbitr......

 MOHANRAJ & ORS v. M/S. SHAH BROTHERS ISPAT PVT LTD. 01.03.2021, APEX COURT COVERAGE SECTION 14 IBC SECTION 138 NI COMPOUNDING UNDER NI & CRPC INTER-RELATION MEANING OF CIVIL & CRIMINAL PROCEEDINGS OBJECTIVE OF MORATORIUM CASES WHERE EJUSDEM GENERIS AND NOSCITUR A SOCIIS CANNOT BE MADE APPLICABLE CONCLUSION Objective of Section 14 IBC is to keep the business of c......

The Cry Story of Related Party Resolved BACKGROUNDThe IBC recognizes that for the success of an insolvency regime, the real nature of the transactions has to be unearthed in order to prevent any person from taking undue benefit of its provisions to the detriment of the rights of legitimate creditors. RELATED PARTY UNDER IBC The expression ‘related party’ is defined in Section 5(24)i......

Search Conducted by GST Department and Fake Invoice collected on which company were collecting ITC. The Directors filed writ petition contending that the procedure of CRPC is not followed by GST Department. Court observation on inter-relation between GST & CRPC In Section 135 of the Act, it is provided that the presumption of culpable mental state is available against such persons. In Secti......

This Court’s jurisprudence has shown that usually the Courts do not overrule the established precedents unless there is a social, constitutional or economic change mandating such a development. The numbers themselves speak of restraint and the value this Court attaches to the doctrine of precedent. This Court regards the use of precedent as indispensable bedrock upon which this Court renders......

Future retail filed Order 39 Rule 1&2 Suit for Interim Injunction restraining the Amazon to interfere with the transactions happening between Reliance and Future retail on basis of the fact that the relief claimed by Amazon through emergency arbitration is non-Coram judice and thus inherently barred by jurisdiction of arbitrator.  Hence the main ground for praying Injunction is that the I......

A and B enter into a transaction where A has to supply goods and B has to provide payment for same.The part payment provided by B to A and Demand Notice served for remaining amount & cheques issued by B but remain unpaid. Thereafter winding up petition filed by A against B under Section 434 of 1956 Act and same is admitted and OL appointed who took sealed the premises and took over the managem......

At eve of Independence, Indian economy was a stagnant and backward economy facing stances of poor production and productivity. The large dependence on agriculture sector was a cause of concern for the state. India with a promise of a welfare state along-withits goal of growth and development had to revive this poor state of economy leaving behind by colonial government. The First Five year plan wa......

INTRODUCTION TO THE PROFESSION OF COMPANY SECRETARIES The very basic rationale for having a separate qualified company law professional was not only to ensure the compliance of management and board system but largely to take good care of 360degree attached to a company. I.e. consumers, vendors, authorities, Investors, creditors. This role was added with more responsibilities with transforming to ......

Directors cannot arbitrarily refuse the transfer of shares even when specific power is given by the Articles. The directors stand in fiduciary position and cannot act contrary to collective Interest of the company. The tribunal can test the reasons for refusal/ approval of transfers on ground of arbitrariness. Reese River Silver Mining Co. Ltd.’ V. ‘Smith’ (1869) LR HL 64. Sect......

1. POWER OF STATE GOVT. TO ORDER RE-INVESTIGATE 2. MAGISTRATE NOD FOR RE-INVESTIGATE 3. CONCEPT OF BAIL IN HABEAS CORPUS PETITION 4. RELEVANT DATE TO DECIDE ILLEGALITY OF DETENTION IN HABEAS CORPUS The A summary report filed to the Magistrate where case is re-Investigated on directions of superior and accused is arrested for this purpose. The Bail application u/s 437 filed but withdrawn. There......

Introduction Trainee and apprentice is not the same thing. There may be a situation where a person styled as apprentice but performing work of a normal employee and such a case he is not apprentice but trainee. Trainee is per se not an apprentice. Trainee is not excluded from the definition of an employee rather what excluded is apprentice.  Therefore the principal question is the claim of a......

Men, their rights, and nothing more; women, their rights, and nothing less Susan B Anthony, Known for her feminist rights   ABSTRACT The Protection of woman from domestic violence act was enacted in year 2005. This paper attempt to guide its readers through basic tenets of domestic violence law in India, the latest judicial position and enforcement mechanism. For the first time the parlia......

Digital images are no different from the droplets of rain that fall, merge, and then divide: there is no telling whether the droplets that split are identical to the droplets that came together to form the larger droplet[1]. INTRODUCTION Law may be divided into substantive and procedural laws. The laws by which rights, duties and liabilities are defined are called substantive law whereas laws wh......

INTRODUCTION Indian economy at eve of Independence was characterized as backward and stagnant economy coupled with poor Infrastructure, low productivity and Industrial failures. The Primary goal was to achieve self-sufficiency in matter of food security. Though there were plans (not goals) to achieve structural transformation and Industrial Policy of 1956 and Green revolution, 1960’s are in......

“Education imparted by heart can bring revolution in the society” -Maulana Abul Kalam Azad BACKGROUND:   The Right to education was initially not included as a fundamental right in the constitution of India and our founding fathers has included education as a Directive principles of state policy under Part IV of the constitution of India. Article 45 (unamended) Provision for ......

HISTORY & INTRODUCTION: The doing business has its origins way back to 2002 where first paper published in Quarterly Journal of Economics (Harvard University) by Simeon Djankov and others on titled – “The regulation of entry” in which they did analysis of 85 countries on various parameters and concluding the impact of entry barrier to a new business entity and its effect on ......

In 1832, John Austin lectures were published under the title – “The Province of Jurisprudence determined”  where it denied  Law, properly so called, as a  command of sovereign backed by the sanction.There are four basic elements of Austin theory of positive law- Sovereign, Command, Duty and sanction.  His theory is been criticized on various outcomes......

The Preamble traces its origins to even before the task of drafting the Constitution began. The foundations of the Preamble were laid down in the Objectives Resolution moved by Jawaharlal Nehru before the Constituent Assembly in December 1946.   The Objective resolution contained “India as an Independent Sovereign Republic and to draw up for her future governance a Constitution”......

INTRODUCTION: A State as defined in International law as “an Independent political entity occupying a defined territory, the members of which are united together for the purpose of resisting the external force and presentation of internal order”. However, the said definition paid emphasis more on Police functions of a state to protect the territory from external aggression. But the m......

 This article is pertaining to the developments under Indian law with regard to work contracts and its taxation aspects. It should be recorded here that the Seventh schedule of Constitution of India is a classic evident of federal character of Indian Constitution. The Power to legislate is clearly laid and separated by List-I, List-II and List-III. However, despite the lengthiest written cons......

Temporary provisions with respect to the State of Jammu and Kashmir (1) Notwithstanding anything contained in this Constitution,— (a) the provisions of article 238 shall not apply now in relation to the state of Jammu and Kashmir; (b) the power of Parliament to make laws for the said state shall be limited to— (i) those matters in the Union List and the ......

The Consumer Protection Act, 1986 (hereinafter CPA) is social legislation and cannot be interpreted in a technical manner as to take away its basic fundamental roots. On this note, I am obliged to share this landmark verdict decided by Hon’ble Federal court in the matter of  Emaar MGF Land Limited v.: Aftab Singh Review Petition (C) Nos. 2629-2630 of 2018 in Civil Appeal Nos. ......

BRIEF FACTS:- Petitioner defaulted in filing annual return and financials for the year 2014-15. However, default made good as the company filed its financials on 14.11.2017 (i.e, during FY 2017-18). While criminal prosecution was pending under section 137 of companies act, 2013 before Tis Hazari Court (Special Court), the company went into compounding before NCLT.   Important Note:- 1. Se......

This article pertaining to the core issue of the modern digital economy. It is undisputed fact that the constitution is a living document and so is the environment we live in. with this note on, this is to submit here that: In landmark verdict of Justice K. S. Puttaswamy (Retd.) and Anr. vs Union Of India And Ors, it was held by 9 judge bench that Right to Privacy is a Fundamental right under Art......