Delhi High Court Upholds Arbitral Award In Patel Gammon's Favour in Rampur Hydropower Project Dispute

The Delhi High Court has dismissed a petition filed by SJVN Limited challenging an arbitral award that granted payment to Patel Gammon Joint Venture for transporting excavated material during a hydroelectric project in Himachal Pradesh. A single-judge bench of Justice Jasmeet Singh upheld the substance of the arbitral award but held that the court lacked territorial jurisdiction to entertain...

CIRP Claims Cannot Rely On 12-Year Limitation Period For Enforcing Mortgage Rights: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has recently ruled that secured creditors cannot rely on the 12-year limitation period for enforcing mortgage rights when filing claims in a corporate insolvency resolution process. For insolvency claims, the Tribunal said, the applicable limitation period is three years. The decision was delivered by a coram of Judicial Member Sushil...

Income Tax | Manual Returns Invalid After E-Filing Became Mandatory For Companies on May 14, 2007: Madras High Court

The Madras High Court has held that from May 14, 2007, companies had to file their income tax returns electronically, and that paper returns filed after that date carry no legal validity A bench of Justices Anita Sumanth and Mummineni Sudheer Kumar rejected a claim for deduction under Section 80-IC of the Income Tax Act, holding that electronic filing of returns was a mandatory requirement...

Textile Committee Cess Not Leviable On Independent Dyeing, Processing Units: Punjab And Haryana High Court

The Punjab and Haryana High Court has recently ruled that the textile committee cess cannot be imposed on independent dyeing and processing units. It held that fabric processing on a job-work basis does not amount to “manufacture” under the Textile Committee Act, 1963. The bench, consisting of Justices Jagmohan Bansal and Amarinder Singh Grewal, stated that the respondent (department)...

NCLT Mumbai Approves Demerger Of Poonawalla Finance And Group Entities

The National Company Law Tribunal at Mumbai has approved a scheme of amalgamation involving Poonawalla Finance Pvt Ltd, Rising Sun Holdings Pvt Ltd and Synergist Realtors Pvt Ltd, paving the way for the reorganisation of businesses within the Poonawalla group. The approval came on January 6, 2026, following resolutions passed by the boards of the companies on February 4 and...

Corporate Debtor Cannot Reclaim Property Sold Under Unregistered Slump Sale Agreement: NCLT Hyderabad

The National Company Law Tribunal (NCLT) at Hyderabad has held that when a corporate debtor has received full consideration and acted upon a slump sale transaction, he cannot later reclaim the property on the ground that the agreement was unregistered, as such conduct is barred by the doctrine of estoppel. A coram of Judicial Member Rajeev Bhardwaj and Technical Member Sanjay...

Delhi High Court Orders Status Quo On ONGC Takeover Of Vedanta's Gujarat Offshore Oil Block

The Delhi High Court on Tuesday ordered a status quo on the government's move to take over an offshore oil block in Gujarat operated by Vedanta Ltd., effectively pausing the Centre's direction asking the company to stop operations and hand over the block to ONGC. A single-judge bench of Justice Amit Sharma declined the Union government's request to have Vedanta's challenge thrown out at...

NCLAT Sets Aside NCLT Delhi Order For Failing To Examine Post-Covid Invoice Defaults In Insolvency Plea

The National Company Law Appellate Tribunal (NCLAT) at Delhi on Wednesday set aside an order of the National Company Law Tribunal, Delhi, which had dismissed an insolvency application by invoking the Covid-19 bar under the Insolvency and Bankruptcy Code. The appellate tribunal held that the NCLT Delhi failed to consider invoices whose dates of default fell outside the Covid-19 excluded...

Business Law Daily Round-Up: January 07, 2026

IBC HMT Takes Final Step To Close HMT Watches, Files Application With Ministy Of Corporate AffairsNCLT Mumbai Approves Sagacious Capital's Rs 110 Crore Plan To Revive Reliance InnoventuresAvoidance Provisions Under Insolvency Code Are Restorative, Not Punitive: NCLT KochiDelhi High Court Dismisses 'Luxury Litigation' Over Debt Assignment, Reaffirms NCLT Power To Probe FraudHigh Courts...

CCI Clears Nippon Steel's Acquisition Of Remaining Stake In Krosaki Harima

The Competition Commission of India (CCI) has cleared Japanese steel major Nippon Steel Corporation's move to take full control of Krosaki Harima Corporation, according to a press release issued on January 6, 2026. The approval relates to a tender offer under which Nippon Steel will acquire an additional 53.4 percent stake in Krosaki. Nippon Steel already holds 46.6 percent in the company,...

MahaRERA Declines To Rule On Whether Puzzle Parking Is A Common Area

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has rejected a complaint by homebuyers of a Thane housing project seeking a ruling on whether puzzle parking qualifies as a common area under the Real Estate (Regulation and Development) Act, 2016, holding that it has no jurisdiction to decide the issue. “No provisions of the said Act provide this Authority with jurisdiction...

Arbitral Proceedings Commence On Respondent Receiving Notice Invoking Arbitration Clause, Not On Arbitrator's Appointment : Supreme Court

The Supreme Court reaffirmed that the arbitral proceedings are set to commence on the date of receipt of notice invoking the arbitration clause by the respondent. “...the date on which the respondent receives a notice or request invoking arbitration is the moment at which the arbitral proceedings commence under Section 21 of the Act. It further clarified that a valid invocation requires...