LATEST CASE LAWS
Section 139 of N.I. Act raises the presumption “unless the contrary is proved”. Once the complainant discharges the burden of proving that the instrument was executed by the accused; the presumption under Section 139 shifts the burden on the accused. The expression “unless the contrary is proved” would demonstrate that it is only for the accused at the trial to adduce evidence of such facts or circumstances on the basis of which the burden would stand discharged. The determination of whether a cheque pursuant to a settlement agreement arises out of a legal liability would be dep...
Gimpex Private Limited v. Manoj Goel
October 7, 2021
REED 2021 SC 10001
Irretrievable injury, has to be such a circumstance which would make it impossible for the guarantor to reimburse himself, if he ultimately succeeds. This will have to be decisively established and it must be proved to the satisfaction of the court that there would be no possibility whatsoever of the recovery of the amount from the beneficiary, by way of restitution. Commitment of banks must be honoured free from interference by the courts and it is only in exceptional cases, that is to say, in case of fraud or in a case where irretrievable injustice would be done if bank guaran...
SKS Power Generation (Chattisgarh)Limited v. Canara Bank
August 10, 2021
REED 2021 Bom 08560
Keeping in view the decisions of the Hon’ble Supreme Court in Ebix Singapore Pvt. Ltd. v. Committee of Creditors of Educomp Solutions Ltd. & Anr., REED 2021 SC 09523, and also taking into consideration, the legislative intent of the statute together with the fact that in the instant case the Resolution Plan was accepted by 100% of voting share in the CoC Meeting dated 21.06.2021 and having regard to the fact that the Appellant had never participated in the EoI, the Appellate Authority were of the view that any reliefs granted in contra to the timelines would be ultra vires to th...
Amanat Randhawa Hotels Private Limited v. Shashi Kant Nemani, Resolution Professional of Aryavir Buildcon Private Limited and Others
October 6, 2021
REED 2021 NCLAT Del 10510
It was true that the DM’s order dated 24.12.2018 was not adjudicated on merit in the S.A. No. 43/2019 and only an interim relief was sought. The S.A. was ultimately dismissed in default, therefore, the doctrine of res-judicata is not applicable for adjudication of this issue. Hence, the S.A. was maintainable for adjudication purpose and the Tribunal below has rightly held so, but the maintainability does not ipso-facto bring the issue within limitation nor it be treated as condonation of delay. No issue can be decided without condonation of delay nor any relief can be granted ag...
Bank of Baroda v. Maa Vaishno Cold Warehouse Private Limited and Others