Succession Act, 1925, Section 372 -- Succession certificate - Exemption from furnishing surety bond - Petitioner is sole legal heir and beneficiary of his parent's estate - Since there being no objections from any quarter, is thus, exempted from furnishing a surety - Succession certificate directed to be issued expeditiously to petitioner...........
Insolvency and Bankruptcy Code, 2016, Section 43(2) -- `Preferential transactions and relevant time' - If two conditions are satisfied, transaction would be deemed to be of preference: (a) the transaction, of transfer of property or an interest thereof of corporate debtor, ought to be for benefit of a creditor or a surety or a guarantor for or on account of an antecedent..........
Insolvency and Bankruptcy Code, 2016, Section 43 -- `Preferential transactions and relevant time' - Corporate debtor shall be deemed to have given preference at relevant time if: (a) transaction is of transfer of property or interest thereof of corporate debtor, for benefit of a creditor or surety or guarantor for or on account of an antecedent financial debt or..........
Insolvency and Bankruptcy Code, 2016, Section 43(2), 45, 66 -- `Preferential transactions and relevant time' - Mortgage of property to creditor - JAL (Jaiprakash Associates Limited) owned 71.64% of shares of JIL (Jaypee Infratech Limited) - JIL was declared NPA by LIC and by some of its other lenders - IDBI Bank Limited instituted petition u/S.7 of IBC before NCLT, seeking..........
Criminal Procedure Code, 1973, Section 439 -- Bail - Non appearance due to ill health - Cancellation of bail - Accused if prevented by sufficient reasons to put appearance in Court, same cannot be construed as a deliberate and willful absence - Explanation offered appears to be justified and accepted - Order as to cancellation of bail set aside and accused to remain on..........
Criminal Procedure Code, 1973, Section 439(2) -- Cancellation of bail - Order granting bail can either be challenged on merits before higher Court or same can be cancelled u/s.437(5) or S.439(2) Cr.P.C. on consideration of relevant factors of misuse in indulging in similar criminal activity, interfering with course of investigation, attempts to tamper with..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Guarantor - Loan transaction - Accused stood as guarantor for repaying loan taken by co-accused - No evidence on record that accused handed over cheque in question for clearing dues of his father towards complainant Firm - Surety bond which accused gave to complainant does not mention number of cheque -..........
Criminal Procedure Code, 1973, Section 451 -- Release of seized vehicle - Vehicle involved in NDPS case - Solely for the reason that vehicle and other articles are likely to be confiscated after trial, conditional release of vehicle and other articles on supurdginama and surety cannot be denied - Vehicle released on supardgi till completion of trial with conditions...........
Criminal Procedure Code, 1973, Section 439, Narcotic Drugs and Psychotropic Substances Act, 1985, Section 20(b)(ii)(B), 29 -- Bail - Conditions - Grant of bail subject to furnishing surety bond of Rs.One lakh and to deposit Rs.20,000/- cash - Condition to deposit Rs.20,000/- would not serve any better purpose than other conditions imposed - Condition to deposit Rs.20,000/-..........
Criminal Procedure Code, 1973, Section 439 -- Bail - Condition of producing registered surety - Petitioner is unable to produce a registered surety for reasons entirely beyond his control - He cannot be indefinitely kept in jail for inability to fulfill the condition of producing a registered surety - Magistrate directed to consider modifying impugned orders on such..........
