2020-TIOLCORP-NEWS-40 | Monday, February 24, 2020

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COMPANIES LAW
  2020-TIOLCORP-26-NCLAT

Flipkart India Pvt Ltd Vs Cloudwalker Streaming Technologies Pvt Ltd

Whether withdrawal of notice requesting payment of amount before issuance of demand notice u/s 8 of the IBC by the Operational Creditor means that prior dispute regarding the debt has ceased to exist - NO: NCLAT

Whether if the loss to the Operational Creditor is not crystallized, the NCLT is barred in exercise of its jurisdiction to determine the claim amount & initiate the insolvency resolution process - YES: NCLAT

Whether mere existence of supply agreement and projection of debt without substantiating the actual amount with copy of invoices can constitute proof of corporate debt - NO: NCLAT

Whether where insolvency application is filed u/s 9 & demand notice is delivered in Form 3 of Adjudicating Authority Rules, 2016, then as long as the existence of operational debt is proved the submission of copy of invoice is not mandatory in Form 5 of Rules, 2016 - YES: NCLAT

2020-TIOLCORP-25-NCLAT

G Shivramkrishna Vs ISGEC Covema Ltd

Whether even after passing of award by the Arbitrator, if corporate debtor does not honour award then operational creditor is right in invoking jurisdiction of NCLT u/s 9 of the IBC - YES : NCLAT

- Appeal dismissed: NCLAT

COMPETITION LAWS
  2020-TIOLCORP-06-CCI

Ajinder Singh Vs Vodafone Idea Ltd

Whether increased rates of telecom services come under radar of CCI provisions even if such rates are in conformity with section 21A of TRAI - NO: CCI

- Case dismissed: CCI

HIGH LIGHTS (SISTER PORTAL)
  TIOL

GST - An agenda for reforms - Part - 74 -Anti-profiteering - Complaint sans statutory basis

DD makes special bandobast to provide live feed on Trump's visit to India

Enter FASTag lane without FASTag and pay double toll fee: Govt

Shooters can now keep more firearms and ammunition

Pradhan invites investments, Technology Transfer into Indian Steel Sector

TOG

Govt amends Arms Act; eases firearm & ammo limits for shooters

Not using FASTags attracts double toll; Rs 20 Cr collected so far

 

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FLASH NEWS
  PepsiCo spends USD 700 mn to purchse Chinese snack brand Be & Cheery

Aditya Estates Insolvency: NCLT approves Adani Properties bid of Rs 400 cr

CORP BRIEF
  MCA launches SPICe+ e-form to ease doing business
SEBI CIRCULAR
  Review of Margin Framework for Cash and Derivatives segments (except for Commodity Derivatives segment)
SEBI NOTIFICATION
  SEBI (Depositories and Participants) (Amendment) Regulations, 2020
MCA NOTIFICATION
  Companies (Incorporation) Amendmen Rules, 2020
IBBI ORDER
  Constitution of a committee for recommending Rules & Regulatory framework for smooth implementation of proposed Cross Border Insolvency provision in the IBC
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