Court : Supreme Court of India
..... code. 4.7 given the incompatibility of schemes of arrangement and the liquidation process, the committee recommended that recourse to section 230 of the companies act, 2013 for effecting schemes of arrangement or compromise should not be available during liquidation of the corporate debtor under the code. however, the committee ..... 29a has been enacted in the larger public interest and to facilitate effective corporate governance . the court further observed that parliament rectified a loophole in the act which allowed backdoor entry to erstwhile managements in the cirp . arcelormittal 32 49 in arcelormittal india private limited v. satish kumar gupta & ors. , ..... on public interest in facilitating economic growth by balancing diverse stakeholder interests. third, the ibc attributes a primacy to the business decisions taken by creditors acting as a collective body, on the premise that the timely resolution of corporate insolvency is necessary to ensure the growth of credit markets and encourage .....
Tag this Judgment!Court : Supreme Court of India
..... the reply were: (a) terms of reference of the committee ( terms of reference ); (b) sections 18 and 37 of the government of national capital territory act, 1991 ( gnctd act ); and (c) fresh summons issued to mr. ajit mohan ( second impugned summons ) under rule 172 of the rules of procedure and conduct of business ..... of intermediaries like facebook squarely fell within the exclusive authority of union of india; in exercise of which the parliament had enacted the information technology act, 2000 ( the it act ). not only that, the subject of law and order in the nct of delhi was stated to fall within the exclusive domain of the ..... elections with allegations of supposed interference by russia allegedly facilitated by platforms like facebook. last year, the eu formulated legislative proposals namely the digital services act and digital markets act, setting out rules for platforms to follow.8 8 news media and digital platforms mandatory bargaining code bill, 2020 was formulated by australia; see .....
Tag this Judgment!Court : Supreme Court of India
..... would apply only to the corporate debtor, the natural persons mentioned in section 141 continuing to be statutorily liable under chapter xvii of the negotiable instruments act. (emphasis supplied) we thus clarify that the petitioners would not be prevented by the moratorium under section 14 of the ibc from initiating proceedings against ..... interest created by the corporate debtor in respect of its property including any action under the securitisation and reconstruction of financial assets and enforcement of security interest act, 2002 (54 of 2002); (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession ..... interest created by the corporate debtor in respect of its property including any action under the securitization and reconstruction of financial assets and enforcement of security interest act, 2002; (d) the recovery of any property by an owner or lessor, where such property is occupied by or in the possession of the corporate .....
Tag this Judgment!Court : Supreme Court of India
..... company limited ....appellant(s) versus maharashtra electricity regulatory commission & ors. . respondent(s) judgment indira banerjee, j.this appeal, under section 125 of the electricity act 2003, is against a judgment and order dated 27th april 2021 passed by the appellate tribunal for electricity, hereinafter referred to, in short, as aptel , ..... sector while protecting the interest of consumers. mr. rohatgi submitted that this is also consistent with the principles set out in section 61 of the electricity act, specifically sections 61(b) and (d) i.e., to conduct generation, transmission and distribution of electricity on commercial principles and at the same ..... action, the courts can devise a workable formula that advances the goals and objective of the legislation.138. mr. mukerjee submitted that, while the electricity act, 2003 does not have a specific provision on execution of decrees/orders by the regulatory commissions, regulatory commissions have been held to be courts . in .....
Tag this Judgment!Court : Supreme Court of India
..... that there is a need to classify diverse public utility contracts as a distinct class recognising the inherent public interest/importance to be addressed in the act. any public work must progress without interruption. this requires consideration whether a court s intervention in public works should be minimal. smooth functioning of ..... involving contract based infrastructure developments, public private partnerships and other public projects, involving huge investments; and changes required in the present scheme of the act so that specific performance is granted as a general rule and grant of compensation or damages for non-performance remains as an exception, the committee decided ..... union law & justice minister shri d.v.sadananda gowda here in new delhi. in its report the committee has recommended modifications in the specific relief act, 1963 for ensuring the ease of doing business. in the context of tremendous developments which have taken place since 1963 and the present changed scenario .....
Tag this Judgment!Court : Supreme Court of India
..... was for parliament to decide whether the situation was remediable by adjudication or required legislation. according to him the life 76 part j insurance corporation act as amended and the rules made after amendment placed the corporation in the same position as other undertakings, that the advantages being enjoyed by the ..... 48. these sections provide as follows: (2a) the regulations and other provisions as in force immediately before the commencement of the life insurance corporation (amendment) act, 1981, with respect to the terms and conditions of service of employees and agents of the corporation including those who became employees and agents of the corporation ..... 1986, the tulpule tribunal issued an interim order restraining lic from recruiting regular employees and from terminating the services of the ad hoc workers working with lic. 4 id act 5 (1982) 1 scc205( a v nachane ). see also: m. venugopal v. divisional manager, lic, machilipatnam, (1994) 2 scc323 and life insurance corporation .....
Tag this Judgment!Court : Supreme Court of India
..... or meaning, hence we hold that the nature, scope and sweep of the power entrusted to the central government to cause exception or modification in a central act, state act or provincial act resembles the power 39 exercisable by it under section 67(2) and is subject to the same limitations. any attempt, if made to widen the scope ..... exception and if section 72(1) is dissected into parts for its better understanding, it reveals that: (i) when a body corporate constituted under a central act, state act or provincial act for the existing state of punjab or for any part thereof, (ii) serves the needs of the successor states or by virtue of reorganization of the state ..... 72 clearly points out that the parliament was making the provision in section 72 with regard to the bodies corporate which had been constituted under a central act, state act or provincial act and that is why the legislative authority for making a law in respect of these bodies corporate was not specified. it may be for the reason .....
Tag this Judgment!Court : Supreme Court of India
..... 1,000/ , rs.5,000/ or 38 rs.10,000/ , issued by the reserve bank of india immediately before the commencement of the said act. the said act also stated in section 3 that on the expiry of the 16th day of january, 1978, all high denomination bank notes shall, notwithstanding anything contained ..... ...192. recently, the constitution bench of this court in the case of rojer mathew (supra) considered the question, as to whether section 184 of the finance act, 2017, which does not prescribe qualifications, appointment, term and conditions of service, salary and allowances, etc. suffers from the vice of excessive delegation. rejecting the ..... disposal, use or consumption of gold. [emphasis supplied].165. it can be seen that under clause (b) sub-section (2) of section 5 of the gold (control) act, 1968, the administrator was conferred with the power to regulate by licences, permits or otherwise, the manufacture, distribution, transport, acquisition, possession, transfer, disposal, use or consumption .....
Tag this Judgment!Court : Supreme Court of India
..... property and the environment. however, the national environment tribunal, which had a very limited mandate, was not established. the 20 national environment appellate authority act, 1997 was enacted to establish the national environment appellate authority to hear appeals with respect to restriction of areas in which any industries, operations or processes ..... or class of industries, operations or processes shall not be carried out or shall be carried out subject to certain safeguards under the environment (protection) act, 1986. the national environment appellate authority has a limited workload because of the narrow scope of its jurisdiction.5. taking into account the large number ..... the quality of environment.........". section 5 clothes the central government or its delegate with the power to issue directions for achieving the objects of the act. read with the wide definition of "environment" in section 2(a), sections 3 and 5 resply clothe the central government with all such powers .....
Tag this Judgment!Court : Supreme Court of India
..... shri sangwan, learned aag appearing on behalf of the state that once the lands in question have been acquired after following the due procedure required under the act and thereafter, the award came to be passed and even the compensation was paid and the possession was taken over and the lands actually vested in the ..... for residential, commercial and institutional purposes in sector 6 and 11, kurukshetra. it appears that even before the issuance of 3 notification under section 6 of the act, the land measuring 81.91 acres belonging to 43 land holders came to be released, details of which shall be considered hereinbelow. that thereafter, except the original ..... for the development and utilization of land as residential and commercial sector 11, kurukshetra and the same was followed with declaration/notification under section 6 of the act dated 20.04.1988. the objections were invited from all the concerned land owners. that thereafter, the award was pronounced by the land acquisition collector on .....
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