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86 judgments · newest first · showing 1–86
M/s Coromandal Sacks supplied HDPE bags to Fertilizer Corporation of India Ltd (FCIL) and sued for recovery of unpaid amounts, alleging price differences, liquidated damages, penalties and loss of unsold bags. FCIL contended it was a sick industrial company under the Sick Industrial Companies …
The Supreme Court examined a batch of appeals concerning whether electricity arrears of a previous owner can be recovered from a subsequent owner who acquired the premises through auction or other transfers. It held that the duty of a distribution licensee to supply electricity under Section 43 of …
The Supreme Court examined the sale of assets of the sick company Bharat Commerce & Industries Ltd. (BCI) by the operating agency IDBI under the Sick Industrial Companies (Special Provisions) Act, 1985. The appellant, Rajiv Kumar Jindal and others, was the sole bidder for Block IV but failed to …
The Supreme Court examined the status of the Large-Scale Industrial Area (LIA) in Kota, Rajasthan, and held that the land has remained under the uninterrupted ownership and lessor relationship of the State Government, not transferred to RIICO by the 1979 order. It found that the leases granted to …
Modi Rubber Ltd., a sick industrial company, obtained a rehabilitation scheme approved by the BIFR under the Sick Industrial Companies (Special Provisions) Act, 1985, which scaled down the dues of unsecured creditors, including Continental Carbon India Ltd. The Delhi High Court held that an …
Sabarmati Gas Ltd. entered into a gas‑sale agreement with Shah Alloys Ltd., which later defaulted on payments. The respondent was declared a 'sick company' by the BIFR, invoking a moratorium under SICA that barred legal recovery until the Code came into force on 1‑Dec‑2016. After issuing a demand …
Augustan Textile Colours Ltd., a revived sick industrial unit, was granted sales‑tax/works‑contract‑tax exemption under a Government Order dated 20 March 2004 as part of a BIFR rehabilitation scheme. In 2006 the Kerala Government withdrew the exemption under Section 10(3) of the Kerala General Sales …
Gujarat Urja Vikas Nigam Ltd (GUVNL) allocated a 25‑MW solar project to Astonfield Solar (the corporate debtor) under a 25‑year Power Purchase Agreement (PPA) executed in 2010. After severe flood damage the plant operated at a fraction of capacity and the corporate debtor was declared a …
The Stressed Assets Stabilization Fund (SASF), a trust created to acquire stressed loans of IDBI, stepped into the shoes of IDBI as mortgagee of Wellman Incandescent India Ltd., which had taken a lease of industrial premises from the West Bengal government. Wellman ceased manufacturing activities, …
The appellant trade union filed a petition under Section 8 of the Insolvency and Bankruptcy Code, 2016 on behalf of about 3,000 workers seeking payment of outstanding dues from the respondent jute mill, which had been closed. The NCLT and subsequently the NCLAT dismissed the petition, holding that a …
The Supreme Court considered appeals by K. Sashidhar challenging the rejection of resolution plans for two corporate debtors, KS&PIPL and IIL, by the Committee of Creditors (CoC). The CoC had approved the plans with less than the statutory 75% voting share of financial creditors, leading the NCLT to …
The employees' union of Jaipur Metals & Electricals Ltd challenged a High Court order that refused to transfer winding‑up proceedings, filed under Section 20 of the Sick Industrial Companies Act, to the National Company Law Tribunal (NCLT) and set aside an NCLT order admitting a Section 7 insolvency …
State Bank of India (SBI) sought recovery of a loan from a corporate debtor whose managing director, V. Ramakrishnan, had also given a personal guarantee. After the corporate debtor defaulted, SBI invoked SARFAESI provisions and the debtor filed an insolvency petition under the Insolvency and …
Zenith Infotech Ltd filed a reference under the Sick Industrial Companies (Special Provisions) Act, 1985 before the Board for Industrial and Financial Reconstruction (BIFR). The Registrar of the Board refused to register the reference on the ground that the company was not an "industrial company" …
Madura Coats Ltd sought to enforce a winding‑up order against Modi Rubber Ltd. The Company Court ordered winding up, but Modi Rubber filed a reference to the Board of Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The High …
Eitzen Bulk A/S and Ashapura Minechem Ltd entered into a charter party that contained an arbitration clause specifying London as the seat and English law as the governing law. A dispute arose and was arbitrated in London, resulting in an award against Ashapura. Ashapura sought to set aside the award …
Mis GTC Industries Ltd., a sick company under the Sick Industrial Companies (Special Provisions) Act, 1985, was placed under a BIFR‑sanctioned rehabilitation scheme (SS‑02) that provided, among other reliefs, a provision to "consider" waiving interest and penalty. The scheme ran from 31 Mar 2003 to …
Madras Petrochem Ltd. and another filed appeals challenging a Delhi High Court order that stayed the winding‑up of the company before the BIFR. The core dispute was whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) …
The appellants K.K. Singhal & Ors. issued 33 cheques that were dishonoured, leading the respondent Steel Strips Ltd. to file 26 complaints under Section 138 of the Negotiable Instruments Act. The parties later entered into a settlement at Chandigarh, where the respondent agreed to withdraw the …
The Supreme Court examined a dispute concerning J.K. Jute Mill Company Ltd., a sick industrial company under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), whose net worth had reportedly turned positive. The plaintiff sought a civil court declaration that the company was no …
KSL & Industries Ltd. appealed against a Delhi High Court order that set aside a Debt Recovery Tribunal decision allowing the appellant to recover Rs. 25.26 crore from M/s. Arihant Threads Ltd. The dispute centered on whether the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) – …
The case concerned a tea estate (Mathura Tea Estate) that defaulted on EPF contributions. After the estate was taken over by Eveready Industries (later McLeod Russel India Ltd.), the new management argued it was not the "employer" liable for damages under Section 148 of the Employees' Provident …
Shree Ram Urban Infrastructure Ltd., a tenant of the immovable property "Dev Ashish" in Bombay, challenged an eviction suit filed by the Court Receiver appointed by the High Court. The appellant argued that the Receiver had no authority to sue without prior leave of the court, that the notice under …
The Oil and Natural Gas Corporation (ONGC) supplied gas to Ambica Mills Ltd., a member of a gas‑consuming association, under a 1987 Supreme Court interim order that fixed the gas price and required the company, then in liquidation, not to charge, encumber or alienate its immovable assets without …
The landlord (Mis. S.F. Engineer) sought eviction of its tenant Metal Box India Ltd. and the tenant's former employee under Section 13(1)(e) of the Bombay Rent Act, alleging unlawful sub‑letting. The trial and appellate courts held that the tenant had not part‑ed with legal possession nor received …
The Supreme Court considered appeals filed by Yash Deep Trexim Private Limited against Namokar Vinimay Pvt. Ltd. and others, challenging a Calcutta High Court order that applied the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) to a foreign company registered in India. The Court …
The Bank of Maharashtra obtained a recovery certificate against Paper and Pulp Conversions Ltd. and, through the Debt Recovery Tribunal (DRT), sold the company's movable assets, retaining a portion of the proceeds. The company was subsequently ordered to be wound up and an official liquidator was …
The Supreme Court dealt with the sale of immovable property of Jay Electric Wire Corporation Ltd., a company under liquidation, which had been sold to the appellants for Rs. 2.50 crore in 2006. Secured creditors and the workmen's union challenged the sale, alleging procedural irregularities, unfair …
NRC Ltd, a sick industrial company, entered into a memorandum of understanding and subsequent agreements with K. Raheja Universal Ltd for the sale of 344 acres of land to raise funds for restructuring. The sale was only partially paid and the company later sought a corporate debt restructuring (CDR) …
The dispute concerned eviction of Dunlop India Limited from premises leased under the Kerala Buildings (Lease and Rent Control) Act, 1965. The landlord alleged that the tenant had ceased to occupy the premises for more than six months without reasonable cause, first from June 1998 and later from …
L.M.L. Ltd., a two-wheeler manufacturer, was declared a Relief Undertaking and later a Sick Company due to market downturn. It applied to Kanpur Electricity Supply Co. Ltd. (KESCO) for reduction of its contracted load from 8 MVA to 1.25 MVA effective 1 April 2006, a decision approved by the Uttar …
M.D., Bhoruka Textiles Ltd. (appellant) supplied paddy husk to M/s Kashmir Rice Industries (respondent) but allegedly failed to receive payment, prompting the respondent to sue for Rs.2,61,696. The respondent contended that the appellant had become a "sick" industrial company under the Sick …
The appellant purchased 60.86 acres of land belonging to Dunlop India Ltd, a sick company, through an open‑market tender conducted by an Asset Sales Committee appointed under the Sick Industrial Companies (Special Provisions) Act, 1985. The sale deed was executed at Rs 24.34 crore and registered. …
The Industrial Development Bank of India obtained a recovery order against M/s Arihant Threads Ltd. under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (RDDB Act), leading to an auction of the company's assets which was won by KSL & Industries Ltd. The company later invoked …
The appellant, a workman of Laxmi Vishnu Textile Mills, challenged a tripartite settlement and the sale of the mill’s assets to a purchaser, alleging that the settlement was illegal, that the sale violated a BIFR order under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), and …
The case concerned the winding up of Jaipur Udyog Ltd. (JUL), a sick cement company, and the dispute over workmen's dues and a settlement entered between the workers' union and the company. JUL appealed a BIFR winding‑up order before the AAIFR, which imposed a condition to deposit Rs.10 crore; the …
Indu Nissan OXO Chemicals imported certain products and disputed their classification, leading the Customs authorities to levy a penalty of Rs 10 crore under Section 112(a) of the Customs Act, 1962. The company appealed to CESTAT, which conditioned the hearing on a pre‑deposit of Rs 2 crore under …
The appellants, a sick industrial company and its guarantor, sought to enforce a personal guarantee for a loan after the company defaulted. The respondent invoked Section 31(1)(aa) of the State Financial Corporations Act, 1951, while the guarantor claimed protection under Section 22(1) of the Sick …
The Bijli Cotton Mill, a unit of National Textile Corporation (NTC), ceased production in 1992 and its electricity supply was disconnected. The mill was placed under the Board for Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) Act, 1985, and a …
The Tax Recovery Officer (TRO) filed intervention applications in a Special Court seeking priority payment of income‑tax dues from Mis. Killick Nixon Pvt. Ltd. after its assets were auctioned in execution of a decree in favour of Mis. Dhanraj Mills Pvt. Ltd., the notified party. The Special Court …
The case concerned a pension fund set up as a trust by Mis Dunlop India Ltd. After the beneficiaries had been paid, the trustees applied to the Calcutta High Court under Section 34 of the Indian Trusts Act seeking a direction on the surplus fund. The High Court refused to entertain the application, …
Morgan Securities advanced an inter‑corporate deposit to Modi Rubber, which defaulted, leading to an arbitral award in favour of Morgan and a winding‑up petition. The High Court restrained Modi Rubber from dealing with its assets, but the company made a reference to the Board for Industrial and …
Muir Mills Unit of N.T.C. (U.P.) Ltd. appointed Swayam Prakash Srivastava as a Legal Assistant on a one‑year probation. After the probation period the mill terminated his services for unsatisfactory performance. Srivastava raised an industrial dispute; the Labour Court held he was a workman and …
Jay Engineering Works Ltd., a sick industrial company, was declared sick under the Sick Industrial Companies (Special Provisions) Act, 1985 and a rehabilitation scheme was approved in 2003. Respondent No.2 (Diamond Wire Industries) claimed interest on delayed payments under the Interest on Delayed …
The Supreme Court examined whether the Board of Industrial and Financial Reconstruction (BIFR) could, under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), direct the State of Uttar Pradesh to pay the wages of workmen employed by M/s. UPTRON, a sick company that is a subsidiary …
The Punjab State Industrial Development Corporation Ltd (PSIDC) promoted Punjab National Fertiliser & Chemical Ltd (PNFC), which was wound up under the Sick Industrial Companies (Special Provisions) Act, 1985. PNFC failed to pay wages to its workers, who approached the Punjab Chief Minister, who …
The appellants, directors of Nalanda Ceramic & Industries Ltd., had secured a loan from State Bank of India by mortgaging the company's assets and providing personal guarantees. The bank filed a title mortgage suit against the company and the directors, but the High Court later ordered the winding …
Halwasiya Vidya Vihar, a senior secondary school, was originally contributing to a state‑run contributory provident fund scheme. After affiliating to the CBSE, it was directed by the Regional Provident Fund Commissioner to adopt the Employees Provident Funds and Miscellaneous Provisions Act, 1952 …
The case concerned the validity of Development Control Regulation 58 (OCR 58) under the Maharashtra Regional and Town Planning Act, 1966, its 2001 amendment and a 2003 clarification, as applied to sick, closed or modernising cotton‑textile mills in Bombay. The petitioners, a public‑interest group, …
NGEF Ltd., a joint‑venture sick industrial company, was referred to the Board for Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). BIFR recommended winding up and observed that any sale of the company's assets should be sought …
The Supreme Court examined whether directors of Jiyajirao Cotton Mills Ltd., a company that owned factories, could be held personally liable for unpaid wages under the Payment of Wages Act, 1936 as amended by the Madhya Pradesh Industrial Relations Act, 1960. The Court held that the Act does not …
Garware Polyester Ltd., after incurring massive losses, sought a restructuring scheme under Section 391 of the Companies Act, 1956, which was approved by the majority of its debenture holders. The Administrator of the Specified Undertaking of the Unit Trust of India (UTI) challenged the scheme, …
The petitioners, representing employees of British India Corporation Ltd. and its two units—sick public sector undertakings registered with the BIFR—sought the application of the revised IDA pay scales under the Government Order of 19 July 1995, which had been denied by the Central Government. They …
Eagle Flask Industries Ltd imported plastic powder, plastic components and glass refills and paid octroi under protest, seeking a refund of the excess duty. The Talegaon Dabhade Municipal Council levied the duty under the Maharashtra Municipalities (Octroi) Rules, and the High Court dismissed the …
Canbank Financial Services Ltd., a subsidiary of Canara Bank, purchased CANCIGO units worth Rs 33 crore from a stock broker (Respondent 2) who had applied for the units through two other banks (Respondents 3 and 4) that held the certificates in their names but transferred possession to the broker. …
The Karnataka High Court stayed the operation of an order of reference that had sent certain work‑men’s disputes to the Industrial Tribunal. While the stay was in force, the employer dismissed the work‑men for serious misconduct and the work‑men filed a complaint under Section 33A of the Industrial …
Mukand Ltd. entered into several settlements with the Mukand Staff and Officers' Association, asserting that many of its employees were not "workmen" under the Industrial Disputes Act, 1947. A dispute was referred to an Industrial Tribunal, which awarded wage increases and other benefits to both …
The Central Government nationalised sick textile mills under the Sick Textile Undertakings (Nationalisation) Act, 1974 and placed them under National Textile Corporation Ltd. Staff employed in the mills sought parity in pay with staff in the corporation's corporate offices, invoking the principle of …
The petitioners, officers and supervisors of Indian Drugs and Pharmaceuticals Ltd (IDPL), a public sector undertaking declared a sick unit by the BIFR, sought direction to revise their pay scales and to receive three instalments of interim relief as recommended by the Fifth Pay Commission and …
The Supreme Court entertained a public‑interest writ petition alleging that numerous Bihar‑owned public sector undertakings had failed to pay salaries for years, leading to starvation deaths and suicides of employees and their families. The petition sought directions for payment of arrears and held …
The Pradeshiya Industrial & Investment Corp. of U.P. (PICUP) advanced a loan to Shefali Papers Ltd., secured by mortgage and guarantee bonds executed by Kailash Nath Agrawal and others. After the company was declared sick under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), …
U.P. Financial Corporation initiated recovery proceedings against Unique Butyle Tube Industries Pvt. Ltd. under the Uttar Pradesh Public Monies (Recovery of Dues) Act, 1972 for default on a loan. The appellant contended that, after the enactment of the Recovery of Debts due to Bank and Financial …
The appellants (vendors) entered into a sale agreement with the respondent (buyer) for Rs.40.25 lakh, conditioning the sale on obtaining clearance under the Urban Land (Ceiling and Regulation) Act, 1976 by a stipulated date. When the clearance was not obtained, the vendors cancelled the agreement …
During BIFR proceedings, the Andhra Pradesh Government placed 1,486 surplus employees of Hyderabad Allwyn Ltd. in various government departments and super‑numerary posts, a scheme later sanctioned by BIFR in 1994. Subsequently, the State enacted an ordinance and the 1997 Andhra Pradesh Absorption …
Solidaire India Ltd. had taken three loans from Fairgrowth Financial Services Ltd. and claimed that the agreed interest rate was 18% per annum. The Special Court (Trial of Offences Relating to Transactions and Securities) Act, 1992, awarded interest at 21.5% and 23% respectively, which the appellant …
The respondent, a Chief Welfare Officer, was terminated on 15‑12‑1981, appealed and was reinstated by the State Government, but was not paid his arrears because the corporation was declared sick under the Sick Industrial Companies (Special Provisions) Act, 1985. The BIFR sanctioned a scheme on …
The respondent filed a suit to recover loans granted to I.C.I.C.I. Ltd., impleading the company's guarantors. The company was subsequently declared a sick undertaking under the Sick Industrial Companies (Special Provisions) Act, 1985, and the High Court directed that the receiver not take possession …
Rishabh Agro Industries Ltd., ordered to be wound up by a High Court Single Judge for defaulting on a bank loan, obtained a stay of that order from the Division Bench. The company then filed a reference under Section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 before the …
Kusum Ingots and Alloys Ltd., a company, issued post‑dated cheques to Pennar Peterson Securities Ltd. The cheques were dishonoured, a statutory notice was sent, and the payee filed a complaint under Section 138 of the Negotiable Instruments Act. Before the 15‑day notice period expired, the company …
The appellants, companies whose cheques were dishonoured, were prosecuted under Section 138 of the Negotiable Instruments Act. After the complaints were filed, they obtained a declaration from the Board for Industrial Finance and Reconstruction (BIFR) that they were "sick" companies under the Sick …
The landlord filed a suit for eviction of the tenant company for non‑payment of rent and, during the suit, sought an order under Section 11(4) of the Bombay Rents, Hotel and Lodging House Rates Control Act directing the tenant to deposit the arrears. The tenant argued that, because it had been …
Real Value Appliances Ltd. faced a winding‑up petition and a suit for recovery of money filed by Canara Bank and Union Bank. The Bombay High Court appointed a provisional liquidator and later, in a separate proceeding, a receiver, holding that the mere registration of a reference under s.15 of the …
Tata Davy Ltd was declared a sick industrial company under the Sick Industrial Companies (Special Provisions) Act, 1985 and a reconstruction scheme was sanctioned by the Board. The company had arrears of sales tax under the Orissa Sales Tax Act, 1947, and the State sought attachment of its property …
Corromandal Pharmaceuticals Ltd., declared a sick industrial company, had a rehabilitation scheme sanctioned by BIFR in 1990. The Andhra Pradesh Commercial Tax Department issued sales‑tax assessments for 1992‑93 and 1993‑94 and began recovery proceedings in 1994‑95, after the scheme was in force. …
Indian Maize and Chemicals Ltd obtained electricity supply from the Uttar Pradesh State Electricity Board under an agreement governed by the Indian Electricity Act, 1910. The company accrued arrears of Rs 49.95 lakh and, to avoid disconnection, agreed to pay the amount in twelve monthly instalments, …
The U.P. State Sugar Corporation entered into a contract with M/s Sumac International Ltd. for the supply and installation of a sugar plant, requiring the seller to furnish several irrevocable bank guarantees payable on demand. The contract was not completed within the stipulated or extended time, …
The Supreme Court considered an appeal by the Regional Provident Fund Commissioner against S.D. College, Hoshiarpur and other educational institutions for failing to deposit statutory EPF contributions after a 1988 Supreme Court order directing compliance. Despite the order, the respondents …
Indian Shaving Products Ltd., the parent of the sick subsidiary Sharp Edge Ltd., obtained BIFR approval for an amalgamation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985, but BIFR refused to grant the tax benefit under Section 72A of the Income Tax Act. The appellant …
Rohtas Industries, a large multi‑product manufacturer in Bihar, was ordered to be wound up in 1984, leaving about 10,000 workmen unemployed. The workmen filed a writ petition under Article 32 seeking revival of the undertaking, prompting the Supreme Court to direct the Union and State governments to …
The U.P. State Sugar Corporation Ltd., a government‑owned company, sought to sell eight loss‑making sugar units. Its net‑worth had fallen by more than 50%, making it a potentially sick industrial company under the Sick Industrial Companies (Special Provisions) Act, 1985. The corporation sent a …
The Board of Industrial and Financial Reconstruction (BIFR) approved a merger scheme to revive Flowmore Polyester Ltd., a sick company, by merging it with SRF Ltd. Garware Plastics and Polymers Ltd., which had earlier submitted a stand‑alone revival proposal that was rejected, claimed to be an …
Maharashtra Tubes Ltd., a steel pipe manufacturer, ceased operations in 1986 and sought financial assistance from the Board for Industrial and Financial Reconstruction (BIFR) in 1988. The BIFR, after hearings, held that the company was not a "sick industrial company" under the Sick Industrial …
Shree Chamundi Mopeds Ltd., a tenant of the Church of South India Trust, defaulted on rent and faced eviction under the Karnataka Rent Control Act. The company was also declared a sick industrial company by the Board of Industrial and Financial Reconstruction under the Sick Industrial Companies …
The Gram Panchayat sought to recover property tax from Shree Vallabh Glass Works Ltd., which had been declared a sick industrial company under the Sick Industrial Companies (Special Provisions) Act, 1985. The Board for Industrial and Financial Reconstruction (BIFR) had conducted an enquiry under …
The workmen of Rohtas Industries Ltd., whose four industrial units were closed on 9 September 1984, filed a writ petition under Article 32 seeking payment of arrears, compensation and other statutory dues. The Patna High Court had appointed a provisional liquidator, but the Supreme Court, invoking …
The Supreme Court examined a dispute over the revival of Kamani Tubes Ltd., where the workers, through their union, proposed a scheme for revival that was examined and sanctioned by the Board for Industrial and Financial Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) …
