Goods and Services Tax : The Finance Act, 2025 retrospectively amended Section 17(5)(d) of the CGST Act after the Supreme Court allowed ITC on certain comm...
Corporate Law : The Supreme Court held that liabilities arising from corporate guarantees qualify as financial debt under Section 5(8) of the Inso...
Corporate Law : The Supreme Court ruled that a shortfall payment clause in a Deed of Hypothecation can qualify as a contract of guarantee under th...
Corporate Law : The Supreme Court expressed serious reservations about earlier rulings denying bail in UAPA cases, holding that smaller benches ca...
Income Tax : The article explains the Supreme Court’s landmark 2024 ruling that broken period interest on debt securities is capital in natur...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
Corporate Law : SC clarifies limits of High Court's writ powers in IBC cases and recognises Indian CIRP as foreign main proceeding in cross-border...
Corporate Law : Justice BR Gavai sworn in as India's 52nd Chief Justice. Focus areas include addressing case pendency and improving court infrastr...
Corporate Law : Key IBC case law updates from Oct-Dec 2024, covering Supreme Court and High Court decisions on CoC powers, resolution plans, relat...
Goods and Services Tax : The Supreme Court stayed further proceedings arising from a Section 74 GST order while examining whether writ petitions can be ent...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Supreme Court dismissed the challenge to a Delhi High Court ruling that quashed reassessment proceedings under Sections 148A(d...
Corporate Law : The Bill seeks to amend Articles 15 and 16 to allow reservation for backward classes proportionate to their population identified ...
Fema / RBI : RBI directs banks, NBFCs, and other entities to implement Supreme Court’s accessibility guidelines for digital KYC, ensuring inc...
Income Tax : CBDT raises monetary limits for tax appeals: Rs. 60 lakh for ITAT, Rs. 2 crore for High Court, and Rs. 5 crore for Supreme Court, ...
Corporate Law : No restrictions on joint bank accounts or nominations for the queer community, as clarified by the Supreme Court and RBI in August...
Corporate Law : Supreme Court of India introduces new procedures for case adjournments effective 14th February 2024, detailing strict guidelines a...
On 6th October, 2010, all the above-mentioned 13 members of the Karnataka Legislative Assembly, belonging to the Bharatiya Janata Party, hereinafter referred to as the “MLAs”, wrote identical letters to the Governor of the State indicating that they had been elected as MLAs on Bharatiya Janata Party tickets, but had become disillusioned with the functioning […]
Videocon Industries Limited Vs- Union of India and Anr – Supreme Court of India rejects petition under Section 9 of Arbitration & Conciliation Act, 1996 holding that application of Part I of the Act has been excluded. The judgment is indeed another good sign in the line of progressive and positive decisions in cases of international commercial arbitration. It comes soon after the Dozco Case and holds that when the substantive law of the arbitration agreement is a foreign law as selected by the parties, it necessarily implies that the parties had agreed to exclude the provisions of Part I of the Act. This judgment too, like the Dosco Case comes as another positive decision portraying the changing outlook of Indian judiciary towards international arbitrations.
Mr. Bharat Gandhi, Advocate, Mumbai has informed us that in respect of the parties whose cases are pending in DRTs, if one approaches the Supreme Court under Article 32 of the Constitution, the Supreme Court is issuing ex-parte stay orders restraining further action under the SARFEASI Act. The matters are tagged with the case of Khaja Industries in respect of which the vires of notification has been challenged, issued by the Central Govt in 2003, by which the co-operatives banks are invoking provision of SARFEASI Act. Mr. Bharat Gandhi has obtained such stays in few cases recently.
Mohammad Ahmad & Anr. Versus Atma Ram Chauhan & Ors. One half of the lis between landlord and tenant would not reach courts, if tenant agrees to pay the present prevalent market rate of rent of the tenanted premises to the landlord. In that case landlord would also be satisfied that he is getting adequate, just and proper return on the property. But the trend in the litigation between landlord and tenant shows otherwise. Tenant is happy in paying the meagre amount of rent fixed years ago and landlord continues to find out various grounds under the Rent Acts, to evict him some how or the other. This case appears to be another classic example of the aforesaid scenario.
The Supreme Court last week ruled that the criminal trial of directors of a company accused of forging documents to get loan from a bank could not be quashed merely because the loan has been repaid with interest. In this case, Sushil Suri vs CBI, some directors of a pharmaceutical firm, Morpen Laboratories Ltd of Delhi, were charge-sheeted for fabricating false invoices to obtain a hire purchase loan from Punjab & Sind Bank. On information, CBI investigated and charged the directors with fraud, forgery, conspiracy and other criminal offences. Some directors moved the Delhi high court seeking to quash the charge sheet. They argued that they had repaid the loan with interest and therefore the bank or anyone else has not suffered any loss. The high court dismissed their petition. The Supreme Court stated that the high court was justified in doing so as a prima facie case for trial has been made out despite the repayment of the loan.
The Supreme Court last week set aside a Delhi high court judgment holding that the high court had no power to entertain an international arbitration petition in the appeal case, Videocon Industries Ltd vs Union of India. A production sharing contract was entered into between the government and a consortium of four companies consisting of […]
In a landmark judgment, Supreme Court restores Rs. 5,05,053 compensation for permanent injury in motor accident, emphasizing pain and suffering.
SKS Microfinance today challenged in the Supreme Court the special act passed by the Andhra Pradesh government to regulate micro finance institutions in the state after allegations that their high interest rates and strong-arm recovery methods led to suicides by farmers. A bench of justices Markandey Katju and Gyan Sudha Mishra issued notice to the state government, directing it to file reply and posted the matter for hearing in the third week of July.
The Supreme Court today banned the production, sale and use of controversial pesticide Endosulfan in the country for the next eight weeks, holding that human life is more important than anything else. Keeping in mind various judgements of this court under Article 21 (right to life and liberty) of the Constitution and particularly keeping in mind the precautionary principle we, hereby, direct and pass ad-interim order for immediate ban on production and use of Endosulfan all over India, a bench headed by Chief Justice S H Kapadia said.
The company had challenged the government policy of not allowing existing operators to bid for the immediate next terminals. According to the policy, The court asserted that the government has the right to make a policy to prevent companies from bidding for the immediate next terminals so that no monopoly of cargo firm is created. The court upheld the policy. APM Terminals B.V. Vs. Union of India & ANR. (Supreme Court -11.05.2011)
