2017-TIOLCORP-32-HC-MUM-CA

Export-Import Bank of India Vs Gol Offshore Ltd

Whether a company petition for winding up filed with a view to enforce payment of a disputed debt should be dismissed unless it is shown that the alleged dispute not a bona fide one - YES: HC

Whether winding up process can be initiated when the company refuses to pay the debt on no genuine or substantial grounds and an application for liquidation for not making such payment has been filed - YES : HC

Whether Court can interfere to avoid winding up for non payment of debts if company has admitted its liability to the creditors and there is no further possibility of the promoters infusing more funds into the company - NO: HC

- Petition Allowed : BOMBAY HIGH COURT

2017-TIOLCORP-13-SAT

Keyur Madhusudan Shah Vs SEBI

Whether a long delay by SEBI in completing investigation can be allowed considering that the investigation involves more than 40 entities - NO: SAT

- Case Disposed of : SAT

2017-TIOLCORP-29-HC-DEL-MISC

Ntt Docomo Inc Vs Tata Sons Ltd

Whether merely because RBI's power and jurisdiction are discussed in an Arbitration Award or petition before a Court will it authorize RBI to intervene in such proceedings - NO : HC

Whether RBI would necessarily be required to be heard in proceedings for enforcement of an arbitral award merely because it entails remitting money to to a non-Indian entity outside India, or to an account of a party outside India - NO: HC

Whether any special permission of RBI would be required for remission of the amount of damages awarded to a non-resident entity in terms of an arbitral award - NO: HC

Whether a shareholder agreement involving non-resident parties can be said to be in violation of FEMA 20 Regulations when FEMA contains no absolute prohibition on contractual obligations and such agreement was legally capable of being performed without obtaining the special permission of RBI - NO: HC

Whether a shareholder agreement is valid, in terms of FEMA 20 Regulations, if it provides for downside protection and not an assured return on investment and FEMA contains no absolute prohibition on such contractual obligations - YES : HC

Whether consent terms entered into between the parties can be said to be valid if the parties have undertaken to abide by the directions of the court & obtain all requisite statutory permissions and there is nothing in the consent terms that is contrary to any provision of Indian Law or public policy - YES: HC

Whether an Award can enter into a settlement even at the stage of execution of the decree or Award - YES : HC

- Case disposed of: DELHI HIGH COURT

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