Statutory Compliance - The Legal Chamber

Corporate vs. Cultivator: Supreme Court Rules Land Restoration Only for Disadvantaged Farmers

28Dec

By The Legal ChamberNo Comments

Supreme Court

Corporate vs. Cultivator: Supreme Court Rules Land Restoration Only for Disadvantaged Farmers

The Supreme Court held that the restoration remedy in Kedar Nath Yadav, grounded in protecting vulnerable agricultural communities, does not extend to industrial entities. A party that accepted compensation without challenge and failed to pursue statutory remedies cannot belatedly claim relief from a judgment secured by others through public interest litigation. Facts Of The Case: The case concerns a dispute over the restoration of 28 Bighas of land in Singur, West Bengal, originally acquired in 2006 for the Tata Nano manufacturing project. The land was purchased and converted for industrial use by M/s Santi Ceramics Pvt. Ltd. (Respondent No. 1), which established a manufacturing unit thereon. The acquisition process, conducted under the Land Acquisition Act, 1894, was subsequently...

Supreme Court Decides: Who Pays When a Car Insurance Policy is Cancelled?

This Supreme Court case reaffirms the principle that an insurance policy stands rescinded upon dishonour of the premium cheque and intimation to the concerned parties, absolving the insurer from statutory liability. However, applying the "pay and recover" doctrine, the insurer was directed to pay the awarded compensation to the third-party claimants and was permitted to recover the same from the vehicle owner. Facts Of The Case: On August 22, 2005, Dheeraj Singh died when his motorcycle was hit from behind by a speeding truck (HR 46 A 1020). The deceased, a 36-year-old computer engineer, was found to be earning ₹3,364 per month. His dependents filed a claim before the Motor Accident Claims Tribunal. The appellant, National Insurance Company Ltd., disowned liability by contending that the...

Supreme Court: Company Balance Sheets Can Reset Limitation Clock for Creditors Under IBC

The Supreme Court held that entries in a company’s balance sheet, when read in the context of surrounding circumstances and previous financial statements, can constitute a valid acknowledgment of debt under Section 18 of the Limitation Act, 1963, thereby extending the limitation period for filing an application under Section 7 of the IBC. The Court clarified that the exclusion period under its COVID-19 limitation order applied from 15.03.2020 to 28.02.2022, making the application timely. Facts Of The Case: The appellant, IL & FS Financial Services Ltd., extended a term loan of ₹30 crores to the respondent, Adhunik Meghalaya Steels Pvt. Ltd., on 27.02.2015, secured by a pledge of shares. The respondent's account was declared a Non-Performing Asset (NPA) on 01.03.2018. The appellant fi...