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Sections 73 and 74 of the Indian Contract Act Do Not Apply to the Forfeiture of Earnest Money under Rule 9(5) of the SARFAESI Rules
A three-judge bench of the Supreme Court comprising Dr. Dhananjaya Y. Chandrachud, CJI and Justices J.B. Pardiwala and Manoj Misra, held...
Mar 12, 20242 min read


Clear and conclusive evidence is essential in contractual disputes; the key legal principle involves discrediting unsupported oral agreements
An oral assurance given by a bank officer for settlement lacked evidentiary support. The key legal principle is the necessity for clear...
Mar 12, 20242 min read


Major Banking Overhaul: 5-Day Work Week and 17% Salary Hike for Bank Employees
In a significant development for the banking sector, the All India Bank Officers' Confederation has announced the successful conclusion...
Mar 10, 20242 min read


DY Chandrachud, CJI appeals Simplicity and Accessibility in Legal Judgments
In a significant event held today (9 March 2024), marking the inaugural ceremony of the Hamara Samvidhan Hamara Samman (Our Constitution...
Mar 9, 20242 min read


Delhi High Court Decodes SARFAESI Act Jurisdiction in Claims below 10 Lakhs under RDB Act, 1993
A Division Bench, consisting of Justices Vibhu Bakhru and Amit Mahajan, emphasized that the relief provided by Section 13(10) of the...
Mar 9, 20242 min read


IBC | Strengthening Accountability: Recent Amendments to IBBI (Liquidation Process) Regulations, 2016
In a significant move to fortify the regulatory framework of the liquidation process, the Insolvency and Bankruptcy Board of India (IBBI)...
Mar 7, 20243 min read


MSME Status at CIRP Initiation Does Not Disqualify If Acquired Before the Submission of a Resolution Plan
The NCLAT, Principal Bench overturned an Adjudicating Authority decision, stating that MSME status at CIRP initiation does not disqualify...
Mar 6, 20242 min read


Insolvency and Bankruptcy Board of India (IBBI) Releases Report on Voluntary Liquidation Processes, Revealing Key Financials and Timelines
In a significant development, the Insolvency and Bankruptcy Board of India (IBBI) has unveiled the outcomes of Voluntary Liquidation...
Mar 5, 20241 min read


Resolution Professional's role is not to decide jurisdictional issues but to facilitate the process
The National Company Law Appellate Tribunal (NCLAT), New Delhi bench comprising Justice Ashok Bhushan and Barun Mitra was hearing an...
Mar 5, 20242 min read


After the Approval of a Resolution Plan by the CoC, There is No Jurisdiction to Consider a Fresh Settlement Proposal under Section 12A
The bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka at the National Company Law Appellate Tribunal (NCLAT), New Delhi held...
Mar 3, 20242 min read
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