Insolvency, Bankruptcy, and recovery of money

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Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy Board of India was set up on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code)

The provisions of this Code shall apply to—
(a) any company incorporated under the Companies Act, 2013 or under any previous company law;
(b) any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such special Act;
(c) any Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008;
(d) such other body incorporated under any law for the time being in force, as the Central Government may, by notification, specify in this behalf; and
(e) partnership firms and individuals, in relation to their insolvency, liquidation, voluntary liquidation or bankruptcy, as the case may be.

 

  • A judge is the pillar of entire justice system and public has a right to demand virtually irreproachable conduct from a judge (SC-10/12/2019) - A person discharging judicial duties acts on behalf of the State in discharge of its sovereign functions. Dispensation of justice is not only an onerous duty but has been considered as akin to discharge of a pious duty, and therefore, is a very serious matter. The standards of probity, conduct, integrity that may be relevant for discharge of duties by a careerist in another job cannot be the same for a judicial officer. A judge holds the office of a public trust. Impeccable integrity, unimpeachable independence with moral values embodied to the core are absolute imperatives which brooks no compromise. A judge is the pillar of the entire justice system and the public has a right to demand virtually irreproachable conduct from anyone performing a judicial function. Judges must strive for the highest standards of integrity in both their professional and personal lives.
  • A daughter has no right u/s 14 of Hindu Succession Act of her father’s property if it is occupied by her brother through adverse possession (SC-28/08/2023) - A Hindu daughter has no right u/s 14 of Hindu Succession Act on the property of her father if it is occupied by her brother through adverse possession (SC-28/08/2023)- [See Pritam Singh v. State, AIR (1950) SC 169: (1950) SCR 453, Hem Raj v. State of Ajmer AIR (1954) SC 462: (1954) SCR 1133, Bengal Chemical & Pharmaceutical Works Ltd. v. Employees, AIR (1959) SC 633: 1959 Supp (2) SCR 136: (1959) 1 LLJ 413, Municipal Board, Pratabgarh and Anr. v. Mahendra Singh Chawla and Ors. (1982) 3 SCC 331: (1983) SCC (L&S) 19, Taherakhatoon (dead) by LRs v. Salambin Mohammad (1999) 2 SCC 635]

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