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SC: Execution Petitions must be disposed off within six months or reasons be recorded if unable to do so
The Supreme Court has re-iterated that Execution Petitions must be disposed off within six months. If courts are unable to do so, they must record reasons behind it. In Bhoj Raj Garg v. Goyal Education and Welfare Society and Ors., the Petitioner approached the Apex...
Supreme Court: No bar to withdraw admitted CIRP Application before the constitution of the Committee of Creditors
In the present case, in order to expand it’s chemical manufacturing plant, the Corporate Debtor raised capital from Respondent no. 1 M/s Beacon Trusteeship Ltd. The second tranche of the capital was not forthcoming and therefore, the Corporate Debtor took recourse to...
SC holds that Government Authorities can be Secured Creditors under IBC
The Supreme Court in State Tax Officer v. Rainbow Papers Ltd. has held that the Committee of Creditors cannot secure it’s own dues at the cost of statutory dues owed to any Governmental Authority. Any Resolution Plan that ignores the statutory demands payable to any...
Maternity Benefits Act does not provide for time difference between the 1st and 2nd child for grant of maternity benefits: Allahabad HC
In the present matter, the petitioner is working as a lecturer in a college and her application for maternity leave was rejected on the ground that she had previously availed maternity leave within a period of less than 2 years and hence was not entitled to the same....