Legal Reference Library

In the matter of M/S MADRAS PETROCHEM LTD. & ANR.  Vs BIFR & ORS., by  a judgment dated 29 Jan 2016, the Hon'ble Supreme Court opined that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prevails over the Sick Industrial Companies (Special Provisions) Act, 1985 to the extent of inconsistency therewith. The judgment has given in the context of a rather convoluted matter wherein petitions and appeals have been filed before several High Courts, DRTs and DRAT, primarily due to the difference in the opinion of various courts of law on primacy of several important Acts having Non Obstante clauses. The Hon'ble court in a 32 page judgement, the court stated that the following two questions which arise on the facts of this case::- (1) Whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prevails over the Sick Industrial Companies (Special Provisions) Act, 1...

Madras High Court Asset Reconstruction vs The Official Liquidator on 18 April, 2006 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 18/04/2006 CORAM THE HON'BLE MR.A.P.SHAH, CHIEF JUSTICE and THE HON'BLE MR. JUSTICE M.JAICHANDREN O.S.A.No. 214 of 2005 and O.S.A.No.215 of 2005 and C.M.P.Nos.15340 to 15343 of 2005 Asset Reconstruction Company (India) Limited, Rep. by its Vice President, 17th Floor, Express Towers, Nariman Point, Mumbai 400 021. ..Appellant in both the appeals. -Vs- The Official Liquidator, High Court, Madras as the liquidator of SIV Industries Ltd. (in liquidation) ..Respondent in both the appeals. PRAYER: Original Side Appeals filed under Order 36 Rule II of O.S. Rules read with Clause 15 of the Letters Patent against the order of the learned single Judge dated 05.07.2005 made in Company Application Nos.712 and 713 of 2005 in C.P.No.17 of 2004. For Appellant :: Mr.A.L.Somayaji, Senior Counsel For M/s.Rangarajan ...

Delhi High Court Continental Carbon India Ltd. vs Modi Rubber Ltd. on 31 July, 2012 Author: Sanjay Kishan Kaul * IN THE HIGH COURT OF DELHI AT NEW DELHI Reserved on: 06.07.2012 % Date of decision: 31.07.2012 + WP (C) No.4854 of 2011 CONTINENTAL CARBON INDIA LTD. ....PETITIONER Through: Mr. P.S. Sudheer, Mr. Rishi Maheshwari & Ms. Anne Mathew, Advs. Versus MODI RUBBER LTD. ....RESPONDENT Through: Mr. Rajeeve Mehra, Sr. Adv. with Mr. Ajay K. Jain, Mr. Atanu Mukherjee & Mr. Prateek Dwivedi, Advs. CORAM: HON'BLE MR. JUSTICE SANJAY KISHAN KAUL HON‟BLE MR. ...