JUDGMENTS 1. Collusive Commercial Transactions With Corporate Debtor Will Not Constitute Financial Debt Under IBC: Supreme Court [Case: Phoenix Arc Private Limited v. Spade Financial.
30 March: Holi We have been advised by lndian Banks Association (lBA) that united Forum of Bank Unions (UFBU) which comprises 9 major Unions, viz. All lndia Bank Employees Association (AIBEA), All lndia Bank Officers Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All lndia Bank Officers Association (AIBOA), Bank Employees Federation of lndia (BEFI), lndian National Bank Employees Federation (INBEF), lndian National Bank Officers Congress (INBOC), National Organisation of Bank Workers (NOBW) & National Organisation of Bank Officers (NOBO), has given a call for all lndia strike by Bank Employees on 15th & 16th March, 2021, said SBI in a regulatory filing.
The working of State Bank of India (SBI) is likely to be affected on March 15 and 16 due to the nationwide strike on these days. While Bank has made all arrangements to ensure normal functioning in its branches and offices, it is likely that work in
Mumbai: Court orders businessman to pay Ceat Tyres Rs 15 crore, here s why
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A city magistrate court last Friday ordered a businessman to pay Rs. 15.60 crores to Ceat tyres in a cheque bounce case.
The court after convicting Sanjay Saha under the Negotiable Instruments Act sentenced him to suffer imprisonment till the rising of the court. If he defaults on paying the amount to the tyre manufacturing company he will have to serve a simple imprisonment term of six months, it ordered.
Saha, the proprietor of Jai Ambe Traders, had given a cheque of Rs. 10.40 Cr with his signature on it to Ceat Tyres on 3 January 2014 for products received from the company. The cheque was dishonoured and the company received the message from the bank that it exceeds arrangement . Thereafter, the company sent a notice to Saha, which he received, but still did not make payment and hence the complaint was filed.
The statement of the accused recorded under Section 313 of the Code of Criminal Procedure is not a substantive evidence of defence to rebut the presumption under Section 139 of the.
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