The National Company Law Appellate Tribunal (NCLAT) set aside an order of National Company Law Tribunal (NCLT) which mandated the impleadment of the Union Ministry of Corporate Affairs (MCA) as a party in all Insolvency and Bankruptcy Code (IBC) matters and Company Petitions. NCLAT was of the view that the order was
The Delhi High Court (HC) has held that the doctrine of frustration under Section 56 of the Indian Contract Act is not applicable to Lease Agreements.
This ruling is based on SC precedents which held that Section 56 is applicable only to “executory contracts” and not to “executed contracts
Applying the principle that an executing Court cannot travel beyond the relief granted in a decree, the Supreme Court (SC) held that an Arbitration award fixing the price of the land cannot be executed like a decree for specific performance of sale Agreement
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