2017-TIOLCORP-NEWS-084 | Friday, April 28, 2017

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COMPANIES LAWS
 
2017-TIOLCORP-28-HC-MUM-CA

Sanjay Sadanand Varrier Vs Power Horse India Pvt Ltd

Whether an employee can maintain a petition for winding up of a Company as a creditor, based on the claim of recovery of his unpaid salary and wages - YES: HC

Whether every such petition would ipso facto cause winding up of the company - NO: HC

Whether Trade Unions, for and on behalf of the its members, are empowered to prefer a winding up petition - YES: HC

Petition Allowed: BOMBAY HIGH COURT

 
MISCELLANEOUS
 
2017-TIOLCORP-25-HC-MAD-MISC

R Balakrishnan Vs Indian Bank

Whether proceedings initiated under the SARFAESI Act for agricultural land can be stayed by the High Court, if there are other remedies available under different laws - NO : HC

Writ Petition Dismissed: MADRAS HIGH COURT

 
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SEBI CIRCULAR
 

Circular on Mutual Funds

IFSC Banking Units to act as trading/clearing member without forming separate company

 
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