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In the present case, after the Appellants’ conviction, A revision was preferred by them in the High Court It is important to note that during the course of the revision filed by the Appellants, the parties entered into a Memorandum of Understanding to settle the dispute within themselves. Clause 8 of the Memorandum of Understanding stated that the dispute was to be settled amicably, and in the event of the dispute still not being amicably resolved, it must be first referred to a sole Arbitrator.
The Supreme Court noted that as per the terms of the agreement, Respondent No.2 was ...
B.V. Seshaiah v. The State of Telangana and Another
February 1, 2023
REED 2023 SC 02001
In the present case, the learned Trial Court found that the Income Tax Returns of the complainant did not disclose that he lent amount to the accused, and that the declared income was not sufficient to give loan of Rs.3 lakh. Therefore, the case of the complainant that he had given a loan to the accused from his agricultural income was found to be unbelievable by the learned Trial Court. The learned Trial Court found that it was highly doubtful as to whether the complainant had lent an amount of Rs.3 lakh to the accused. The learned Trial Court also found that the complainant ha...
Rajaram s/o Sriramulu Naidu (Since Deceased) Through LRS v. Maruthachalam (Since Deceased) Through LRS
January 18, 2023
REED 2023 SC 01005
In the present case, the petitioner has filed the suit prior to the appointment of the Liquidator but after the appointment of the Liquidator, the petitioner has filed his claim of Rs.14,47,32,521/- against the respondent before the Liquidator in the form prescribed under the I&B Code, 2016.
The High Court noted that the NCLTs and the NCLATs are constituted under Sections 408 and 410 of the Companies Act, 2013 but without specifically defining the power and functions of the NCLT. Section 408 of the Companies Act states that the Central Government shall constitute a National Comp...
Alliance Broadband Services Private Limited v. Manthan Broadband Services Private Limited (In Liqn.)
December 19, 2022
REED 2022 Cal 12573
In the present case, the Petitioner filed an Application under section 9 of IBC and simultaneously filed an Application under section 9 of the A&C Act, 1996. Besides, Another Petition was also filed under section 9 of the A&C Act, 1996 for the attachment of the amount of Rs. 2,58,03,143/- lying in hands of Respondent No. 2, who was indebted to pay the amount in order to enable Respondent No. 1 to release the amount in favour of the petitioner.
It was an admitted case that Respondent No. 2 (AWHO) had awarded a Contract dated 11.03.2011 for the construction of Twin Tower r...
Brilltech Engineers Private Limited v. Shapoorji Pallonji and Company