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Sheriff’s Poundage for Executing Orders of Arrest of Vessel by Bombay High Court
[NOTE: Pursuant to amendment to Chapter LX of the Bombay High Court (Original Side) Rules, Poundage is fixed at Rs. 500/- executing a warrant of arrest. Thus, the law set out in this article no longer holds good, and is being maintained on this website only for academic purpose for those who are interested in learning on the older position of law.]
Meaning of Poundage
Poundage is nothing but a type of fee payable to the Sheriff of Mumbai. It is payable when a person
On What Grounds Can the Court Lift the Embargo of Lis Pendens?
In its literal sense ‘lis pendens’ means – ‘a pending legal action’. The principle of lis pendens in relation to immoveable property is embodied under Section 52 of the Transfer of Property Act, 1882 (“TOPA”). The object of the provision is to ensure that the rights of a party claiming any right, title or interest in an immoveable property is not affected during the pendency of any proceedings
Beneficial Liquidation: Sale as a Going Concern
On 22nd October 2018, the Insolvency and Bankruptcy Board of India (“IBBI”) notified amendments to the IBBI (Liquidation Process) Regulations, 2016 (“Liquidation Process Regulations”), substituting the then-existing Regulation 32 of the Liquidation Process Regulations. After the amendment, Reg. 32 stood amended as under:
“32.Manner of sale. – The liquidator may sell –
(a) an asset on a standalone basis;
(b) the assets in a slump sale;