Corporate
DGFT Allows Personal Carriage Of Gems & Jewellery Parcels Through Ahmedabad Airport Under FTP 2023
The Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry, has amended Paragraphs 4.87(a) and 4.88 of the Handbook of Procedures (HBP) 2023 under the Foreign Trade Policy (FTP) 2023. The amendment now allows import and export of gems and jewellery parcels for personal carriage through Ahmedabad Airport, in addition to the previously listed international airports such...
NCLT Mumbai Upholds IL&FS' Power To Raise Price of Its BKC Headquartes, Rejects Chronos' Plea To Enforce ₹1,080-Crore LoI
The National Company Law Tribunal (NCLT) at Mumbai has recently held that IL&FS was contractually empowered to unilaterally amend the Letter of Intent and increase the bid consideration for the sale of its iconic IL&FS Financial Centre in Bandra Kurla Complex, Mumbai refusing to compel execution of the definitive agreement at the originally approved value of Rs 1,080 crore. The...
Extended Limitation Cannot Be Invoked Without Proof Of Intent To Evade: CESTAT Delhi Sets Aside Service Tax Demand On Car Parking Charges
The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Principal Bench, New Delhi has held that the extended period of limitation under the proviso to Section 73(1) of the Finance Act, 1994 cannot be invoked in the absence of clear evidence of suppression of facts with intent to evade service tax. A Division Bench comprising Justice Dilip Gupta (President) and P.V. Subba...
Centre Expands Collateral-Free MSME Financing To ₹10 Crore Under Revamped CGS; Clarifies Subsidy, Equity Support Figures
The Central Government in response to details of financial support and credit facilitation for the Micro, Small and Medium Enterprises (MSMEs) has clarified that effective April 01, 2025, the Ministry of MSME has expanded collateral-free financing by enhancing CGS coverage up to Rs. 10 crores with reduced guarantee fees. Under the credit-linked subsidy schemes, tabulated...
Delhi High Court Upholds Rejection Of Patent For Amylin and AstraZeneca's Sustained-Release Diabetes Injection
The Delhi High Court has upheld the Patent Office's refusal to grant Amylin Pharmaceuticals and AstraZeneca Pharmaceuticals a patent for their sustained-release exenatide injection for diabetes, ruling that the formulation was 'obvious' from existing science and lacked the inventive step required for protection. A single bench of Justice Tejas Karia in an order dated November 24 said that...
SEBI Acted With 'Due Care And Caution' In Clearing WeWork India IPO: Bombay High Court
The Bombay High Court on Monday observed that SEBI had exercised “due care and caution” in clearing the WeWork India IPO, while dismissing two petitions that alleged the regulator failed to act on complaints of inadequate disclosures in the offer documents of the Indian arm of global co-working space brand. A division bench of Justice RI Chagla and Farhan P Dubash said it was...
GST Bill | Lok Sabha Tables Manipur GST (2nd Amendment) Bill 2025; Track-And-Trace Mechanism Proposed For Select Goods
The Union Government on Wednesday introduced the Manipur Goods and Services Tax (Second Amendment) Bill, 2025 in the Lok Sabha to bring the State GST law in line with amendments made under Sections 121 to 134 of the Finance Act, 2025 and decisions of the 56th GST Council. The Bill proposes significant changes relating to input tax credit, distribution of credit, return filing,...
No Service Tax On Cost Allocation For Pet-Care Products Of Mars International: CESTAT Hyderabad
The Hyderabad Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that Mars International is not liable to service tax on cost allocations for developing pet-care products. The bench further opined that the arrangement with the group companies did not involve a service provider-service recipient relationship, and therefore, the service...
LiveLawBiz: Business Law Round-Up: November 29 - December 1, 2025
IBCIBC | Terminated Contract Not Corporate Debtor's Asset; Moratorium Won't Revive Extinguished Contractual Rights : Supreme CourtNCLT Mumbai Rejects Indo Global Employees' Claims Filed 18 Months Late, Says Stakeholders Must Be VigilantLiquidator Must Recover Assets Even If Attached By Third Parties, Attachment Cannot Override IBC: NCLT BengaluruBuyers Of Commercial Units Are Not...
Mumbai Consumer Commission Orders Niva Bupa To Pay ₹66.50 Lakh For Wrongfully Denying Cancer Treatment Claim
The District Consumer Disputes Redressal Commission, Mumbai Suburban, comprising Smt. Samindara R. Surve (President) and Shri Sameer S. Kamble (Member), held Niva Bupa Health Insurance Ltd. liable for deficiency in service for wrongfully cancelling the complainant's policy and rejecting his overseas cancer treatment claim. The Commission found that the insurer's...
NCLT Ahmedabad Orders Liquidation of Girdhari International After Finding Collusion With Resolution Applicants
The National Company Law Tribunal at Ahmedabad has held that the resolution plan for Girdhari International Private Limited was a "collusive arrangement" between the resolution applicant and the sole financial creditor, Drip Capital Inc., and refused to approve it, ordering liquidation instead. The tribunal said that “the entire exercise suggests an accommodation or collusive...