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1 - 10 of 30 (0.35 seconds)Section 36 in The Transfer Of Property Act, 1882 [Entire Act]
Section 14 in The Transfer Of Property Act, 1882 [Entire Act]
The Transfer Of Property Act, 1882
Section 194 in The Companies Act, 1956 [Entire Act]
The Companies Act, 1956
Section 31 in The Transfer Of Property Act, 1882 [Entire Act]
Section 13 in The Transfer Of Property Act, 1882 [Entire Act]
M/S. Innoventive Industries Ltd vs Icici Bank & Anr on 15 May, 2017
It is pertinent to take judicial notice of an order
dated September 11, 2017 passed in G.A. 2791 of 2017 wherein the
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decision in case of M/s Innovative Industries Ltd. Vs. ICICI Bank &
Anr. reported in AIR 2017 SC 1025 has been relied upon which held
that the moment initiation of the corporate insolvency resolution process
takes place a moratorium is announced by the adjudicating authority
vide Sections 13 and 14 of the Code by which institution of suit and
pending proceeding etc. cannot be proceeded with. This continues until
the approval of a resolution plan under Section 31 of the said Code.
Janki Vashdeo Bhojwani & Anr vs Indusind Bank Ltd. & Ors on 6 December, 2004
Lastly, Mr. Basu submitted that the suit is not maintainable as the
suit has been filed by a person who is not authorised under law to
deposed and invites my attention to answer to question 129 of Arun
Kumar Sharma who has deposed on behalf of the plaintiff company as
the constitution power of attorney holder and he has signed the plaint. It
is pointed out that admittedly Mr. Sharma has been working in the Sister
concern for the last thirty years as Manager and so he is not competent
to institute suit on behalf of the plaintiff. Mr Basu has referred to a
decision in case of Janki Vashdeo Bhojwani And Another Vs. Indusind
Bank Ltd And Others reported in (2005) 2 Supreme Court Cases 217
wherein it has been observed thus--