Deal Alert: Clove Legal represents Indigo Paints Limited in the acquisition of 51% stake in Apple Chemie India Private Limited
Apr 04, 2023
Indigo Paints Limited is a listed company and India’s fifth largest and fast-growing decorative paints brand.
Bombay High Court Rules that an Authorised Signatory of a Cheque Issued on Behalf of a “Company”, is Not a “Drawer” in terms of Section 143A of the NI Act and Cannot be Directed to Pay Interim Compensation
Mar 22, 2023
The Hon’ble Bombay High Court in the recent case of Lyka Labs Limited & Anr. vs. The State of Maharashtra & Anr. & connected matters was faced with common questions of law arising under the Negotiable Instruments Act, 1881 (“NI Act”), pursuant to a batch of matters listed before it. The questions of law posed […]
No Stamp Duty Payable Towards Permanent Alternate Accommodation Agreements between Developer and Society Members, the Same Being Agreements Incidental to Execution of Development Agreement as per Section 4(1) of the Maharashtra Stamp Act: Bombay High Court
Mar 06, 2023
In a recent decision of the Hon’ble Division Bench compromising of Hon’ble Justice Shri. G. S. Patel and Smt. Neela Gokhale, in the case of Adityaraj Builders v. State of Maharashtra & Ors. & Group Matters, wherein several Petitions were decided on a common question of law under the Maharashtra Stamp Act 1958, relating to […]
Bank Restrained From Taking Possession of The Secured Assets For Not Providing Break Up of Principal And Interest Amount In The Notice U/s 13(2) of SARFAESI Act – Gujarat High Court
Mar 03, 2023
A Petition was filed before the Hon’ble Gujarat High Court, in the matter of M/S Abaj Foods Private Limited vs The Authorized Officer, Punjab, challenging the actions/measures taken by the Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”). The Petitioner contended that the Notice under […]
NCLAT Answers Whether an ‘Operational Creditor’ Can Be Allowed To Pursue Prior Arbitration Proceedings Post Approval of Resolution Plan.
Mar 03, 2023
An Appeal was filed before the Hon’ble National Company Law Appellate Tribunal (“NCLAT”), in the matter of Shapoorji Pallonji & Co. Pvt. Ltd. vs Korba West Power Company Ltd. & Ors., challenging the Impugned Order passed by the Learned Adjudicating Authority (NCLT, Ahmedabad Bench) allowing the Interlocutory Application filed by the Resolution Professional (“RP”) of […]
Sula Vineyards IPO : Clove Legal advised Haystack Investments Limited and certain other selling shareholders
Dec 27, 2022
It’s all in the Name – Recognition of Personality Rights in India
Dec 01, 2022
The Delhi High Court recently passed an omnibus order restraining the world at large from using the name, image, voice, likeness, and goodwill of Mr. Amitabh Bachchan. The Plaintiff in Amitabh Bachchan v. Rajat Negi & Ors. alleged violation of his publicity rights as a celebrity. Mr. Bachchan approached the Court to restrain various persons […]
Fate of Secured Creditor(s): IBC v. SARFAESI Act
Nov 11, 2022
Introduction The Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (“SARFAESI Act”) was brought into effect to regulate the process of recovery of debts through enforcement of security interest, in the event of default by the borrower(s), and to further regulate the securitisation and reconstruction of financial assets of a […]
Supreme Court decides ‘Whether the Provisions contained in Chapter V of the MSME Act, 2006 with regard to Delayed Payments to Micro and Small Enterprises would have precedence over the provisions contained in the Arbitration Act, 1996?’
Nov 11, 2022
The Hon’ble Supreme Court recently decided 7 Appeals in the case of Gujarat State Civil Supplies Corporation Ltd. v. Mahakali Foods Pvt. Ltd., though factually distinct, however, involving common questions of law. Upon hearing and considering the submissions, both in favour and against the proposition that ‘the provisions regarding delayed payments under the MSME Act […]
Madras High Court affirms: Protection of Moratorium under section 14 of I&B Code is extended only to Corporate Debtor and not to the persons involved in its affairs vis-à-vis. the proceedings under section 138 of the Negotiable Instruments Act, 1881
Nov 11, 2022
The Accused No. 3 being the Managing Director of the Accused No. 1 Company filed a Petition before the Hon’ble Madras High Court under section 482 of Cr.P.C. for quashing of the Criminal Complaint filed inter alia against him by the Respondent being the Complainant therein, for an offence under section 138 of the Negotiable […]