Issue The question concerning the interpretation of Section 6 of the Hindu Succession Act, 1956 as amended by Hindu Succession (Amendment) Act, 2005 in view of the conflicting verdicts rendered in two Division Bench judgments i.e. Prakash and Ors. v. Phulavati and Ors., [(2016) 2 SCC 36] and Danamma @ Suman Surpur and Anr. v. … Read more
Issues Whether for purposes of Section 141 of the Negotiable Instruments Act, 1881, would it be sufficient if the substance of the allegation read as a whole fulfils the requirements of the said section and would it not be necessary to specifically state in the complaint that the persons accused was in charge of, or … Read more
Categories of Offences 1. Offences committed by Corporate Debtor or the Officers(s) of Corporate Debtors Section Particulars of Offence Penalties Section 68 Where a Corporate Debtor within the twelve months immediately preceding the insolvency commencement date: Willfully concealed any property or any debt, fraudulently removed any part of the property, of the value of … Read more
Brief Facts The Appellant issued a cheque dated 17 January 2011, in favour of the Respondent, which was dishonoured. The Respondent initiated criminal action by filing a complaint under Section 138 of the Negotiable Instrument Act, 1881. In the complaint petition, the Company was not arrayed as an accused. However, the Magistrate took cognizance of … Read more
Brief Facts In 2014, the Appellant supplied certain fire-fighting goods and equipment to the Respondent. The Respondent issued two cheques of INR 11,00,000/- (Rupees Eleven Lakhs Only) and INR 16,00,000/- (Rupees Sixteen Lakhs Only), in favor of Appellant. Subsequently, the Appellant presented the cheques to the Respondent’s bank; both the cheques were dishonoured on the … Read more
Brief Facts of the Case Date Particular of Events 27.10.2016 First Information Report (FIR) filed against the Petitioner under provisions of Prevention of Corruption Act, 1988 (PC Act) and Indian Penal Code, 1860. 05.11.2016 Petitioner was taken into custody pending further investigation. 20.12.2016 Petitioner applied for bail before the Special Judge but the application was … Read more
The Insolvency and Bankruptcy Code (Amendment) Act, 2020 brought in some changes with respect to the following provisions as stated in the principal Act. These are as follows: 1. Insolvency Commencement Date Earlier, the insolvency commencement date was commenced from the date when the Insolvency Resolution Professional (IRP) was appointed by the adjudicating authority. However, … Read more
Financial Creditor A financial creditor is defined under Section 5(7) of the IBC to mean “a person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred”. In order to ascertain whether a person is a financial creditor, the debt owed to such a … Read more