201906.20
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WITHDRAWAL OF INDIA FROM THE US’ GENERAL SYSTEM OF PREFERENCE (GSP) TRADE PROGRAM – AN IMPACT ANALYSIS

WITHDRAWAL OF INDIA FROM THE US’ GENERAL SYSTEM OF PREFERENCE (GSP) TRADE PROGRAM – AN IMPACT ANALYSIS THE GSP – AN OVERVIEW The United States has implemented a Generalised System of Preference (GSP) trade program from the 1970s, wherein it extends a preferential tariff system to developing country. It is a preferential arrangement as it…

201904.27
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DEMAND NOTICE ON THE CORPORATE DEBTOR IN ITS REGISTERED OFFICE OR CORPORATE OFFICE

SERVICE OF DEMAND NOTICE ON THE CORPORATE DEBTOR IN ITS REGISTERED OFFICE OR CORPORATE OFFICE IS A VALID SERVICE UNDER SECTION 8 OF THE CODE IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL Alloysmin Industries. vs. Raman Casting Pvt. Ltd. (Company Appeal (AT) (Insolvency) No. 684 of 2018)                                                                                                                                                                                               FACTS OF THE CASE This appeal has been…

201902.20
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Doctrine of Merger

Doctrine of Merger FACTS A Constitution Bench of the Allahabad High Court declined a reference made to reconsider the law laid down in Dr. Vishwajeet Singh and Ors. V. State of Uttar Pradesh, which dealt with the application of reservation of law in Uttar Pradesh for faculty positions in Higher Educational Institutions. The provisions of the U.P. State…

201902.20
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INSOLVENCY OF BINANI CEMENT – A CASE STUDY

INSOLVENCY OF BINANI CEMENT – A CASE STUDY IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI Binani Industries Limited VS.Bank Of Baroda And Anr. [company appeal (at) (insolvency) no. 82 of 2018]dated: 14.11.2018 DETAIL OF APPEALS WITH NCLAT In this case, following appeals were filed with the NCLAT: Company Appeal No. 82, arising out…

201902.09
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Important Orders of NCLAT under IBC

Important Orders of NCLAT under IBC Some of the important orders of NCLAT are as below Allottees of real estate project ‘financial creditors’ under amended Section 5(8)(f) of I&B Code; appeal against NCLT order allowed [Rajendra Kumar Saxena v. Earth Gracia Buildcon (P) Ltd., 2018 SCC Online NCLAT 711, order dated 11-09-2018]  NCLT not to entertain…

201901.18
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No Moratorium On Insolvency of Subsidiary Company During Pendency of CIRP of Parent Holding Company

IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL Ashok B. Jiwrajka, Director of Alok Industries Ltd. vs. Axis Bank Ltd. (Company Appeal (AT) (Insolvency) No. 683 of 2018)     dated:16.01.2019 FACTS OF THE CASE This appeal has been preferred by Mr. Ashok B. Jiwrajka (herein after referred to as Appellant) erstwhile ‘Director’ of ‘Alok Industries Limited’ against…

201901.16
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NCLT HAS NO POWER TO CONVERT A CIRP INTO FAST TRACK CIRP, EXTEND CIRP PROCESS BEYOND 270 DAYS AND REJECT THE FEES OF RP ALREADY FIXED BY COC

NCLT HAS NO POWER TO CONVERT A CIRP INTO FAST TRACK CIRP, EXTEND CIRP PROCESS BEYOND 270 DAYS AND REJECT THE FEES OF RP ALREADY FIXED BY COC IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL Sanjay Kumar Ruia vs. Catholic Syrian Bank Ltd. & Anr. (Company Appeal (AT) (Insolvency) No. 560 of 2018)     dated: 03.01.2019…