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NCLAT opens window to let firms exit resolution process – and settle
- NCLAT held that a company could exit the insolvency process even after the appointment of an interim resolution professional and imposition of moratorium by the NCLT under IBC.
- This decision provides a new window of opportunity for companies to come out of the corporate insolvency resolution process (CIRP) midway.
- The companies would be able to come out midway through the formalities and then finally settle with lenders.
- NCLAT: National Company Law Appellate Tribunal
NCLT: National Company Law Tribunal
IBC: Insolvency and Bankruptcy Code
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SC junks pleas to conserve sculptures found during levelling of ground for Ram temple in Ayodhya
- Two petitions sought directions to conserve the “artefacts and sculptures” which emerged during the levelling of ground for the Ram Temple.
- The Supreme Court dismissed both of them.
- It called this an attempt to overreach its verdict in the Ayodhya case.
Speaker goes to SC, says courts can’t step in at this stage on disqualification
- Rajasthan Assembly Speaker C.P. Joshi moved the Supreme Court a day after the High Court’s gave its judgment.
- Rajasthan High Court had asked him to defer action on the disqualification notices issued to Sachin Pilot and his 18 MLAs till July 24.
- Joshi sought an interim stay on the High Court’s direction.
- In his petition, he said, it was “illegal, perverse and in derogation of the powers of the Speaker under the Constitution”.
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SC clears UP govt’s nominee for Dubey panel
- The Supreme Court approved a draft notification by the Uttar Pradesh government.
- It recommended the names for an expanded panel to probe the killing of gangster Vikas Dubey.
- The names suggested were those of former Supreme Court Justice B.S. Chauhan and ex-DGP K.L. Gupta.
- Vikas Dubey was killed in an alleged encounter by the U.P Police.
SC notice to Bhushan, Twitter says will act if told, posts are identified
- The Supreme Court has issued notice to advocate Prashant Bhushan on a suo motu criminal contempt case.
- It was registered against him over two of his tweets, saying they had “brought the administration of justice in disrepute”.
- The complaint against Bhushan was registered over a June 29 tweet by him on a photo of Chief Justice of India S.A. Bobde.
- The bench also took note of another tweet by Bhushan on June 27 regarding the judiciary.
- It was said to be published in The Times of India.
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SC refuses stay on time given to rebel MLAs, asks can dissent be shut down like this
- Asking if dissenting voices were being shut down, the Supreme Court refused to stay the relief given to rebel Rajasthan Congress MLAs to reply to the disqualification notices issued to them.
- Rajasthan Speaker C.P. Joshi had moved the Supreme Court against the high court order asking him to give the rebel MLAs time till July 24 to reply to the notices.
- While declining Joshi’s appeal for a stay, the Court adjourned hearing on the “question of jurisdiction” raised by him till July 27. Joshi has contended that courts cannot interfere in disqualification matters before the Speaker has taken a final decision.
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SC gives 6-month extension to panel probing encounter
- The apex court had set up a three-member commission to probe the encounter of four men accused of the gang rape of a woman.
- They were accused of raping and killing a veterinary surgeon in Hyderabad on December 6.
- It was formed following a petition which contended that the encounter was a fake one.
- The Supreme Court extended the time granted to the commission by six more months.
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SC to resume hearing 2009 contempt case against Prashant Bhushan from August 4
- The Supreme Court will begin hearing arguments in a 2009 contempt case on August 4.
- The case is against advocate Prashant Bhushan and former editor-in-chief of Tehelka magazine Tarun Tejpal
- The case relates to Bhushan’s statements against some former Chief Justices of India and then Chief Justice S.H. Kapadia.
- He made the statements in an interview to the magazine in 2009.