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Appointment of Directors under the new Companies Act, 2013
Directors of a company hold the most crucial position in the Company. With the new Companies Act, 2013 (“New Act“) already in force, their position has become even more significant than ever before. They are now formally included within the definition of “key managerial personnel” or “KMP” under Section 2(51) of the New Act. New…
Progress Property Co Ltd vs. Moorgarth Group Ltd
Progress Property Co Ltd vs. Moorgarth Group Ltd. This case was Before Lord Phillips, President, Lord Walker, Lord Mance, Lord Collins, Lord Clarke and the judgement was given on 8 December 2010, referring to the common law prohibition on the unlawful distribution of capital by a company through, inter alia, the sale of its assets…
Deem – Tech Limited vs. R.L. Steel & Energy Limited
Limitation Act, 1963, applies to the proceedings or appeals before the NCLT and its Appellate Tribunal as Section 433 of the Companies Act has not been amended under eleventh schedule of IBC.
Case List: Winding Up
A Admitted Debt u/s 433(3) of Companies Act, 1956 Alternative Remedy to be initiated before invoking just and equitable clause u/s 433 (f) B Bona fide dispute C Commercial Insolvency Creditor’s Objection to Winding Up Composite petitions under Sections 397, 398 and 433(f) D Dissolution of Partnership and Deadlock as grounds for Winding Up under Section…
Ashok Commercial Enterprises vs. Parekh Aluminex Ltd.
NCLT has jurisdiction over all winding up proceedings, including, inter alia, winding up on the ground of inability to pay debt, where such petition is served to a respondent after 15th December, 2016. For all other winding up petitions served before 15th December, 2016, High Court will continue to have jurisdiction.
Indo Rolhard Industries Ltd. Vs. M.K. Mahajan & Anr.
[2013] 178 CompCas 282 (Delhi) FACTS: A petition was filed by two shareholders for winding up of the appellant-company under section 433 of the Companies Act, 1956. The company court by the impugned order admitted the petition, directed the company to be wound up and, ordered the citation to be published in the “Statesman” (English)…