CORPORATE LAWS

1. HC admits winding of Co. as it made bogus claim about poor quality of goods after issuance of statutory notice.
CL : Where company raised defence as regards inferior quality of goods supplied after issuance of statutory notice and failed to prove same, winding up against company was to be admitted.

2. Min. of Home Affairs cancels registration of 8,975 foreign-funded NGOs for not filing their annual returns.

3. Secured creditor can’t auction property without following procedure prescribed under SARFAESI.
SARFAESI : Insistence of law is that secured creditor in order to exercise its right to enforce security by bringing secured asset of borrower to sale must ensure that it has invoked permissible 'measures' strictly 'in accordance' with provisions of law and rules made thereunder.

4. CCI has powers to review investigation ordered by it; HC directs it to consider review application of 'Google' afresh.

5. CLB rejected interim relief sought under oppression plea as petitioner were protected by interim orders of BIFR and SC.
CL : It would be unjust and inappropriate to pass ad-interim orders in petition under section 397/398 where petitioners were adequately protected by interim orders of BIFR and Supreme Court.

Source : taxmann