Axis Bank
Clauses in Information Brochure based on statutory Master Circular is enforceable; Bombay High Court sets aside Administrator decision to write down AT-1 bonds once Yes Bank stood reconstituted
The clauses in the Information Memorandum are based on the Master Circular which is issued by the Reserve Bank under its statutory powers. Information Memorandum and its clauses refer to Master Circular. The said Information Brochure has a statutory flavour. In that event, the agreement would have a statutory base and such an agreement can certainly be enforceable.
Supreme Court reaffirms that NCLT under S. 7(5) of Insolvency and Bankruptcy Code has discretionary power to admit or reject an application
Supreme Court: In a review petition filed by Axis Bank against Supreme Court’s judgment in Vidarbha Industries Power Ltd. v.