Moratorium

Case BriefsSupreme Court

5-year moratorium on new Pharmacy Colleges: Chh HC’s interim order directing PCI to consider application for affiliation stayed; Matter to be disposed of in 4 weeks: SC

Supreme Court: In a case related to PCI’s decision to impose 5-year moratorium on the opening of new Pharmacy Colleges for degree

Case BriefsHigh Courts

Whether proceedings under Ss. 138 and 141 of NI Act can be initiated against corporate debtor during moratorium period? Madras HC answers

Madras High Court: N. Sathish Kumar, J., while addressing a matter with regard to the dishonour of cheques under Section 138 of

Case BriefsHigh Courts

Chh HC directed orders against moratorium/ban on the opening of the new Colleges and Institutions for imparting B. Pharma and D. Pharma courses in the entire Country for a period of five years

Chhattisgarh High Court: P. Sam Koshy allowed the interim application and stated that the final approval and permission is subject to the

Case BriefsTribunals/Commissions/Regulatory Bodies

Attachment of Bank Accounts of a Corporate Debtor: Is it violative of S. 14 of IBC during pendency of Corporate Insolvency Resolution Process? NCLT explains

National Company Law Tribunal, Mumbai Bench: The Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member directed that

Case BriefsTribunals/Commissions/Regulatory Bodies

NCLT | Debt acknowledged in emails, CIRP initiated resultantly-Appoints IRPM and declares moratorium

National Company Law Tribunal, New Delhi Bench, New Delhi –The Coram of P.S.N Prasad, Judicial Member and Narender Kumar Bhola,  Technical Member

Case BriefsTribunals/Commissions/Regulatory Bodies

Whether S. 7 IBC petition is maintainable where financial creditor fails to enclose financial contract/documents along with the petition: NCLT examines 

National Company Law Tribunal (NCLT): Coram of Judicial Member Ashok Kumar Borah and Technical Member Shyam Babu Gautam has admitted a petition

Case BriefsForeign Courts

SCOTUS decides to go with the landlords and end the federal moratorium on residential evictions imposed by the CDC

Supreme Court of The United States: While deciding upon the instant emergency application brought in by the Alabama Association of Realtors challenging

Case BriefsHigh Courts

Madras HC | Is writ petition maintainable against Asset Reconstruction Co. which is assigned debts by nationalised banks? Is there element of public duty and obligation to follow RBI Circulars? HC decides

Madras High Court: V. Parthiban, J., expressed that plea of public interest in a private loan transaction is only a mask to

Case BriefsHigh Courts

Guj HC | Court cannot undertake the activity of banking regulations upon itself and pass omnibus orders to come up with policy decision; Court dismisses appeal

Gujarat High Court: G.R. Udhwani, J., dismissed a petition wherein a mandate was sought to issue an order/ circular / instructions directing

Op EdsOP. ED.

“Against the Corporate Debtor”- Ambiguity around Section 14(1) (a) of IBC

by Akhil Nene†

Hot Off The PressNews

RBI | Lakshmi Vilas Bank Limited branches to operate as DBS Bank India Limited branches

The Government of India sanctioned the Scheme for the amalgamation of the Lakshmi Vilas Bank Ltd. with DBS Bank India Ltd. The

Cabinet DecisionsLegislation Updates

Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited

Scheme of Amalgamation The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with

Business NewsNews

[Moratorium] Central Government places Lakshmi Vilas Bank under Moratorium for 30-days in the absence of a credible revival plan

BACKGROUND The financial position of The Lakshmi Vilas Bank Ltd. (the bank) has undergone a steady decline with the bank incurring continuous

Case BriefsHigh Courts

Del HC | Is the liability of Principal Borrower and Guarantor co-extensive? Court reiterates SC’s position on continuation of SARFAESI proceedings against Guarantor by banks

Delhi High Court: A Division Bench of Hima Kohli and Subramonium Prasad, JJ., considered the following question: Whether a bank/financial institution can institute

OP. ED.SCC Journal Section Archives

Cheque Proceedings Against a Company During Insolvency Proceedings – A Legal Complication [SCC Archives]

by Akaant Kumar Mittal†

Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT upholds NCLT Judgment allowing liquidator to sell company’s assets attached by ED

National Company Law Appellate Tribunal (NCLAT): A Bench comprising of Justice S.J. Mukhopadhaya (Chairperson) and Justice B.L. Bhat (Judicial member) rejected an

Case BriefsHigh Courts

Kar HC | Court directs RBI to monitor implementation of the Circular relating to regulatory package during COVID times

Karnataka High Court: Suraj Govindaraj, J., dealt with a petition which was filed in order to enforce the regulatory package announced by

Op EdsOP. ED.

Causatum of Corona on the Banking Sector 

by Arjun Garg* & Rati Tandon**

Case BriefsHigh Courts

COVID-19 | Del HC |SMA-2 not to be further classified as NPA if interest not paid during moratorium period (1-3-2020 to 31-5-2020); classification as NPA by Yes Bank reversed

Delhi High Court: Sanjeev Sachdeva, J. while addressing a petition held that, Classification of Petitioner’s account as Non-Performing Asset could not have been

Case BriefsHigh Courts

COVID 19 | Del HC | Yes Bank to file response in urgent petition seeking restraint from declaration of petitioner as NPA amid COVID-19

Delhi High Court: Sanjeev Sachdeva, J. addressed the urgent matter with regard to a direction being sought to Yes Bank regarding not taking any