Tribune News Service
New Delhi, August 27
Can an organization’s belongings, connected by authorities following authorized proceedings, be thought-about for liquidation to settle monetary liabilities? The Supreme Court on Thursday stated it could study the problem after senior advocate CS Vaidyanathan, representing liquor baron Vijay Mallya’s United Breweries (Holding) Ltd (UBHL), stated the corporate’s complete belongings have been far better than its liabilities.
The UBHL has challenged the Karnataka High Court’s order upholding the choice of a single choose to wind up the corporate. Vaidyanathan instructed a Bench headed by Justice UU Lalit that the courtroom shouldn’t uphold winding up of the corporate because it had way more belongings than its liabilities.
The Bench additionally reserved its verdict on a petition of Mallya, who has sought evaluate of its 2017 order holding him responsible of contempt of courtroom for transferring USD 40 million to his kids.
Vaidyanathan stated the HC erred in not accepting its supply of settlement and gave its discovering of upholding the choice to wind up the corporate.
Declines to listen to examination plea
The SC refused to entertain a petition in search of to postpone the Foreign Medical Graduates Examination (FMGE), a licensure examination held for college kids who’ve accomplished MBBS course from international nations, slated for August 31.
Refuses to take up petition on Coronil
The SC declined to entertain a petition difficult a Madras HC order staying a single choose’s order that had restrained Patanjali Ayurveda from utilizing the trademark ‘Coronil’. “If we prevent the use of the word Coronil during the pandemic on the ground that there is some pesticide on its name, it will be terrible for the first product,” a Bench led by JI SA Bobde stated.