Courts Have Sometimes Failed Arbitration In India; Judicial Interference Often A Cure Without A Disease: Supreme Court

Uniformity in dispute resolution enhances ease of doing business and attract foreign investment, the Court said.

Disgorgement As A Regulatory Remedy Under SEBI Act

Disgorgement is a legal remedy that helps restore fairness and prevent future wrongdoing. It requires a court or regulatory authority to force a wrongdoer to give up profits or benefits gained through misconduct. Unlike compensatory damages, which are meant to repay victims for their losses, disgorgement aims to strip offenders of their unjust profits. The main idea is that no one should benefit from illegal, fraudulent, or unethical actions.In securities regulation, especially under the system...

Supreme Court Grants Relief To Reliance Industries In 2007 RPL Futures Trading Case, Sets Aside SEBI's ₹447 Crore Disgorgement Order

The Supreme Court on Friday (May 29) set aside the ₹447.27 crore disgorgement order imposed by the Securities and Exchange Board of India, being approved by the Securities Appellate Tribunal, on Reliance Industries Ltd (RIL) in connection with alleged manipulative trading in the futures segment of Reliance Petroleum Ltd. (RPL) during November 2007. Partly allowing the appeal filed by...

Arbitration | Writ Jurisdiction Can't Be Invoked To Challenge Arbitrator's Decision Under Section 16 : Supreme Court

The Supreme Court has held that while exercising its Writ Jurisdiction, it is impermissible for the High Courts to interfere with the arbitral tribunal's order passed under Section 16 of the Arbitration & Conciliation Act, 1996. “It was not open for the learned Single Judge in exercise of writ jurisdiction to enter into the merits of the dispute while adjudicating the challenge to an...

S.33(1)(a) Arbitration Act Only To Correct Clerical Errors In Award; Can't Be Invoked To Change Nature Of Interest : Supreme Court

Holding that substance of an arbitral award cannot be altered under the guise of correcting errors, the Supreme Court has ruled that changing the nature of interest awarded from simple interest to compound interest amounts to a substantive modification that falls outside the limited scope of Section 33(1)(a) of the Arbitration and Conciliation Act, 1996.A bench of Justice PS Narasimha and...

'S.138 NI Act Quasi-Criminal' : Supreme Court Refers To Larger Bench Whether IBC Moratorium Totally Bars Cheque Dishonour Case Against Company Director

The Court says criminal liability of directors under NI Act is settled, but compensatory liability during insolvency moratorium remains unresolved.

Supreme Court Sets Aside CCI Order Revoking Approval For Amazon-Future Deal; Says Regulatory Fairness Vital To Boost Investments

Domestic institutions must not add to uncertainty which can deter foreign investments, the Court warned.

Supreme Court Upholds Levy Of GST On Online Gaming, Says Its Taxable As 'Betting & Gambling'

Online game operators are not intermediaries but suppliers of taxable actionable claims, the Court ruled.

Party Estopped From Challenging Award On The Ground Of Mandate Expiry After Accepting Extension Of Arbitrator's Mandate: Supreme Court

The Supreme Court on Tuesday (May 26) has held that a party who continues to participate in arbitration proceedings without objecting to the extension of the arbitrator's mandate cannot later challenge the award on the ground that the mandate had expired. A bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe heard the dispute that arose out of arbitration proceedings between...

Supreme Court Surprised Over Vacancies In ITAT Administrative Staff, Seeks Attorney General's Intervention

The Supreme Court on Tuesday expressed surprise over the large number of vacancies in the administrative staff of the Income Tax Appellate Tribunals (ITAT) and sought the intervention of the Attorney General for India to ensure that the posts are filled at the earliest.A bench comprising Chief Justice of India Surya Kant and Justice Joymalya Bagchi was hearing a writ petition filed by...

Supreme Court Questions Centre's Delay In Notifying Commercial Court Rules 2021, Says HCs May Consider Setting Up District Execution Cells

The Supreme Court on Monday (May 25) took serious note of the Union Government's failure to notify the draft Commercial Courts Rules, 2021, observing that the country is facing a “huge challenge” in the effective and expeditious disposal of execution petitions. A bench of Justice JB Pardiwala and Justice Pankaj Mithal took suo motu notice of the fact that the draft Commercial Courts...

Interim Profits In CIRP: EBITDA Allocation Dilemma

The major headline from the Supreme Court's decision to restore JSW Steel's resolution plan for Bhushan Power and Steel Limited (BPSL) on 26 September 2025, was the rescue of a ₹19,350 crore acquisition that the same court had set aside five months earlier.Another issue that came to the forefront but gained little traction was the consequential question: Who is entitled to the EBITDA...