2020-TIOLCORP-NEWS-87| Wednesday, April 29, 2020

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COMPANIES LAW
2020-TIOLCORP-51-NCLAT

Laxmi Pat Surana Vs UoI

Whether proceedings u/s 7 of Code can be triggered by ‘Financial Creditor' who has taken Guarantee in respect of ‘Debt' against ‘Guarantor' for failure to repay the money borrowed by ‘Principal Borrower' - YES : NCLAT

- Appeal dismissed: NCLAT

2020-TIOLCORP-52-NCLAT

Rajesh Kumar Agarwal Vs Srivani Merchants Pvt Ltd

Whether since appellant failed to show that flat does not belong to Company and appellants fails to follow procedure of code, cannot get relief from adjudicating authority - YES : NCLAT

- Appeal dismissed: NCLAT

2020-TIOLCORP-50-NCLAT

Elaine Info Solutions Pvt Ltd Vs J & A Avenues India Pvt Ltd

Whether sale of land transaction can be held invalid as sale is executed merely on basis of board resolution which itself cannot be relied upon - YES : HC

- Appeal dismissed: NCLAT

 
CAPITAL MARKET LAWS
2020-TIOLCORP-16-SAT

Rajesh Jayantilal Shah Vs SEBI

Whether appellant is guilty of making wrongful gain by selling shares of one company at abnormally high price with help of false media reports created and circulated for this purpose - YES : SAT

- Order passed in favour of Respondent: SAT

 
MISCELLANEOUS
2020-TIOLCORP-14-SC-MISC

Quippo Construction Equipment Ltd Vs Janardan Nirman Pvt Ltd

Whether failure to raise objections before Arbitrator and let the arbitral proceedings to conclude and culminate in an ex-parte award, leads to waiver of right to raise any objections later on - YES : SC

Whether since respondent has not raised any objection that Arbitrator does not have jurisdiction or that he is exceeding scope of authority, must be assumed to have waived all such objections - YES : SC

- Order passed in favour of appellant: SUPREME COURT OF INDIA

2020-TIOLCORP-56-HC-AHM-MISC

Suzlon Power Infrastructure Ltd Vs State Of Gujarat

Whether demand notice for property tax levied by Gram Panchayat can be quashed as procedure as laid for purpose of levy of tax has not been complied with - YES : HC

- Order passed in favour of petitioner: GUJARAT HIGH COURT

 
HIGH LIGHTS (SISTER PORTAL)
  TIOL

Gadkari launches Bank of Schemes, Ideas & Innovation on MSMEs

Auto Industry captains share inputs for revival with Union Minister

Understanding 'Certificate of Origin'

Task Force on National Infra Pipeline submits report to FM

Govt targeting one lakh digital villages: Ravi Shankar Prasad

Climate Change - India favours USD 1 trillion grants for developing world

Tropical cyclones - Names cannot be more than 8 letters and cruel

Explanation to s.17(3) of CGST Act - introspection needed

Realization of export proceeds in times of COVID-19

Input Service Distributor Mechanism - adopting the right path

TOG

Badal urges industry to procure food grains & perishables to benefit farmers

Tourism Ministry hosts webinar 'an epic called India - a land of myriad stories'

Railways goes past 3 mn mark in distribution of free meals

 

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NEWS FLASH
US Trade Deptt puts Amazon India domain in its notorious market list

Just Dial to buyback 4.84% of its equity share for Rs 220 cr

Oman orders termination of expat workers tenures from all PSUs; to replace them with locals

Google makes video conferencing free to compete with Zoom app

Flipkart, Meru join hands to deliver essential during lockdown

Delhi HC stays interim protection granted to IndiaBulls from recovery of NCD dues

GlaxoSmithKline to sale its $3 bn stake in Hindustan Unilever Ltd

 
CORP BRIEF

DPIIT Control Room - A catalyst in resolving industry issues

Prasad urges Electronics Industry to explore opportunities in adversity

Lockdown - Reccord sale of fertilisers, says Govt

Prasad urges Electronics Industry to explore opportunities in adversity

Lockdown - Reccord sale of fertilisers, says Govt

 
GUIDELINES
Guidelines For Funding For Research Studies On Corporate Governance  
SEBI CIRCULAR
Relaxation in compliance with requirements pertaining to Mutual Funds  
MCA NOTIFICATION
Govt amends Appointment & Qualification of Directors Rules, 2014 relating to independent directors  
MCA CIRCULAR
Extension of the last date of filing of Form NFRA-2  
NFRA NOTICE
NFRA comes out with Draft Procedure for Submission of Audit files  
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