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NISHANT

Where a law firm has issued notice of demand and it has no authorization for the same, such notice…

NISHANT MEHROTRA  |  11 Feb 2018
Where a law firm has issued notice of demand and it has no authorization for the same, such notice of demand cannot be considered to be a demand notice under sub-section (1) of section 8 and petition under section 9 is not maintainable.

NCLAT :: In Kumar Jyoti Ranjan & Ms Priyanka Kumari vs. Innovation House Industries (P.) Ltd. :: Insolvency and Bankruptcy Code, 2016 – Section 9 read with section 8 – Corporate Insolvency Resolution Process – Initiation by operational creditor –…

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Fatih Cemal

Removing Partners in Limited Liability Companies in Turkish Law

Fatih Cemal Karaaytu  |  10 Feb 2018
Removing Partners in Limited Liability Companies in Turkish Law

There are 3 different ways to end of partnership tittle of partners in Limited Liability Companies: share transfer, expulsion and removal. Before the new Turkish Commercial Code, expulsion could be by General Counsel of Partnership decision or court order. To be…

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LEXSTREET ADVISORS LLP

SECURITIES LAW UPDATE

SECURITIES LAW UPDATE

Securities Law update :  SEBI is  coming out with regulations on Corporate bonds soon to encourage companies to tap this route, says SEBI Chairman, Mr. Ajay Tyagi. He further said that the government's proposal to mandate listed companies to raise…

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NISHANT

Arbitration and Conciliation Act, 1996 - Discharge of a contract - Meaning of - Effect of fraud/coercion/undue influence thereon…

NISHANT MEHROTRA  |  10 Feb 2018
Arbitration and Conciliation Act, 1996 - Discharge of a contract - Meaning of - Effect of  fraud/coercion/undue influence thereon - arbitrability of the dispute :: Discharge of a contract by an agreement

SC :: in M/s ONGC Mangalore Petrochemicals Ltd. Versus M/s ANS Constructions Ltd. & Anr. dt. 07.02.2018 :: Arbitration and Conciliation Act, 1996 - Discharge of a contract - Meaning of - Effect of  fraud/coercion/undue influence thereon - arbitrability of…

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NISHANT

Court permits use of Skype for compromise

NISHANT MEHROTRA  |  9 Feb 2018
Court permits use of Skype for compromise

Karnataka High Court :: in Rahul Chandra Kone Vs. Jahanvi :: Husband, residing in USA, permitted to participate in compromise proceedings in family court via online video calling facility Skype.

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NISHANT

Securitisation Application under Section 17(1) of the SARFAESI Act is maintainable only when actual/physical possession is taken by the…

NISHANT MEHROTRA  |  8 Feb 2018
Securitisation Application under Section 17(1) of the SARFAESI Act is maintainable only when actual/physical possession is taken by the secured creditor or the borrower loses actual/physical possession of the secured assets.

Allahabad High Court :: Full Bench :: in M/s N.C.M.L. Industries Ltd. through Director and another Vs. Debts Recovery Tribunal, Lucknow and others :: Securitisation Application under Section 17(1) of the SARFAESI Act is maintainable only when actual/physical possession is…

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NISHANT

Second marriage after conversion to Islam is void and also bigamy

NISHANT MEHROTRA  |  6 Feb 2018
Second marriage after conversion to Islam is void and also bigamy

SC :: Second marriage after conversion to Islam is void and also bigamy.Ss.5(I),11,13 and 15 - Bigamy - Husband already married under Hindu Law, by embracing Islam, solemnising a second marriage under Muslim law.Held, that would not result in dissolution…

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NISHANT

Party invoking the arbitration clause does not have to file a formal application seeking a specific prayer for reference…

NISHANT MEHROTRA  |  6 Feb 2018
Party invoking the arbitration clause does not have to file a formal application seeking a specific prayer for reference of the dispute to arbitration as long as it raises an objection in the WS

Delhi High Court :: in Parasramka Holdings Pvt. Ltd. vs Ambience Private Ltd. & Anr. :: Party invoking the arbitration clause does not have to file a formal application seeking a specific prayer for reference of the dispute to arbitration…

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NISHANT

Rejection of application by corporate debtor for initiation of corporate insolvency resolution process.

NISHANT MEHROTRA  |  5 Feb 2018
Rejection of application by corporate debtor for initiation of corporate insolvency resolution process.

NCLAT :: in Unigreen Global (P.) Ltd. v. Punjab National Bank :: Section 10 IBC, 2016.(A) Where application of corporate debtor for initiation of insolvency resolution is rejected in the absence of any reasons recorded by the Adjudicatory Authority, such…

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NISHANT

Securitisation Act shall apply to all existing agreements even though lender was not a notified ‘financial institution’ on date…

NISHANT MEHROTRA  |  3 Feb 2018
Securitisation Act shall apply to all existing agreements even though lender was not a notified ‘financial institution’ on date of execution of borrowing agreement and was notified subsequently

SC :: Securitisation Act shall apply to all existing agreements even though lender was not a notified ‘financial institution’ on date of execution of borrowing agreement and was notified subsequently – Sections 13 and 37 read with section 7 of…

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