2017-TIOLCORP-NEWS-155 | Tuesday, August 08, 2017

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2017-TIOLCORP-39-SEBI

A2Z Infra Engineering Ltd Vs ICICI Bank Ltd

Whether when shares are issued on conversion of Funded Interest Term Loan, as evident from documents as well, the allegation of the fraud being played does not hold good - YES : HC

Whether a person can seek a permanent and mandatory injunction where it has no legal right over the equity shares which it wants to sell - NO: HC

Whether Bank can be said to have induced for transfer of shares at Rs.10/- instead of the market value when Company itself has agreed to transfer the shares at Rs.10/- per equity share voluntary by way of Resolution of Shareholders as well as Board - NO : HC

- Case dismissed: SEBI

 

MISCELLANEOUS

 
2017-TIOLCORP-41-HC-DEL-MISC

Oriental Bank Of Commerce Vs Harminder Singh

Whether civil court does not have jurisdiction to decide any issue which will come up for decision before the Debt Recovery Tribunal/authority under RDDBFI Act and SARFAESI Act -YES : HC

Whether entitlement of person claiming to be a owner of property, granted under interim order is only till the disposal of the proceedings under the RDDBFI Act and/or SARFAESI Act - YES : HC

- Appeal allowed: DELHI HIGH COURT

 
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