2017-TIOLCORP-NEWS-191| Tuesday, September 26, 2017

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COMPANIES LAW
 

Surendra Trading Company Vs Juggilal Kamlapat Jute Mills Company Ltd

Whether the provision for removal of defects in the corporate insolvency resolution application filed u/s 9 of Bankruptcy Code, within 'seven days', is "directory" and not "mandatory" - YES: SC

Whether application u/s 9 of the Backruptcy Code after removal of defects, deserves to be accepted by Adjudicating Authority, only if he is satisfied that there was sufficient cause in not removing the defects beyond the period of seven days - YES: SC

- In favour of Appellant: SUPREME COURT OF INDIA

2017-TIOLCORP-18-NCLT

Energo Engineering Projects Ltd

Whether certificate from Banker is imperative and in absence of that the NCLT is constrained not to consider the CIRP applications - YES : NCLT

- Case Allowed: NCLT

 
CAPITAL MARKET LAWS

 

2017-TIOLCORP-50-SEBI

Gautam Sanjay Khandelwal

Whether a visible pattern in the transactions of the Noticee to sell scrip in upward trend pursuant to sending of SMSs, is an act of fraudulent trading to mislead innocent investors - YES : SEBI

- Directions Imposed: SEBI

COMPETITION LAWS

 

2017-TIOLCORP-04-HC-MUM-CL

Vodafone India Ltd Vs CCI

Whether Competition Act and TRAI Act are independent statutes hence Competition Act itself is not sufficient to decide and deal with the issues, arising out of the provisions of the TRAI Act and the contract conditions, under related Regulations - YES: HC

Whether Competition Act cannot be used to interpret the contract conditions/policies of telecom Sector, arising out of the Telegraph Act and the TRAI Act - YES : HC

- Writ Petitions allowed: BOMABY HIGH COURT

HIGHLIGHTS (SISTER PORTALS)
   

 

 

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RBI NOTIFICATION
  Amendments to Master Direction- Reserve Bank of India (Financial Services provided by Banks) Directions, 2016  
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