Disbursal Of Funds Under Funding Agreement With Guaranteed Return Amounts To Financial Debt U/S 5(8) IBC: NCLT

The NCLT, Mumbai Bench, has held that a disbursal of funds under a funding agreement with guaranteed return amounts to financial debt under section 5(8) of the IBC, 2016. The bench of Judicial Member Nilesh Sharma and Technical Member Sameer Kakkar observed, “It can be said that the Applicants have invested funds under the Funding Agreement, and as per the terms of the agreement,...

Typographical Error In Title Of Arbitral Award Can Be Corrected Beyond 30 Days If Caused By Tribunal's Mistake: Delhi High Court

The Delhi High Court held that a clerical or typographical error in the title of an arbitral award can be corrected even after 30 day limitation period provided under section 33 of the Arbitration Act if the mistake originated from the tribunal itself and not from the parties. The Division Bench comprising Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela...

Bombay High Court Restrains Surat Company From Using German Entity's 'PETROFER' Mark

The Bombay High Court has granted an interim injunction in favour of German lubricant manufacturer Petrofer Chemie H.R. Fischer GmbH & Co. and its Indian licensee Hardcastle Petrofer Private Limited, restraining United Petrofer Limited, a Surat-based company, from using the mark 'PETROFER'. A single bench of Justice Arif S Doctor passed the order on November 6, 2025, while deciding...

Conduct Inter-Ministerial Consultation On Whether Import Of Massagers/Sex Toys Is Allowed Or Not: Delhi High Court Tells CBIC

The Delhi High Court has directed the CBIC (Central Board of Indirect Taxes and Customs) to conduct inter-ministerial consultation in respect of coming up with a uniform policy permitting or prohibiting the import of products declared as 'body massagers' or sex toys. The bench opined that the question as to whether any product is obscene or not cannot, obviously, be left at the...

Paytm Moves NCLT Delhi Against WinZO Games Over ₹3.6 Crore Unpaid Advertising Dues

The National Company Law Tribunal (NCLT) at Delhi on Tuesday issued notice to WinZO Games after Paytm (One97 Communications Ltd) filed an insolvency plea claiming that the gaming company failed to pay around Rs 3.6 crore for advertising services. Judicial Member Justice Jyotsna Sharma and Technical Member Anu Jagmohan Singh heard the matter briefly and gave WinZO two weeks to file its reply....

Private Hospitals Liable To Pay VAT On Supply Of Medicines & Implants To In-Patients: Gujarat High Court

The Gujarat High Court has held that the supply of medicines and implants by private hospitals to in-patients amounts to 'deemed sale' and is liable to VAT (Value Added Tax). The issue before the bench was whether the supply of medicines, stents, implants, consumables, etc., during the course of treatment of patients amounts to 'sale' as defined in section 2(23) of the VAT...

Working Men/Women's Hostels Are Residential Properties, Cannot Be Taxed At Commercial Rates: Madras High Court

The Madras High Court has recently ruled that hostels providing accommodation to working men and women are residential properties and, therefore, property tax, water tax, and electricity charges cannot be levied at commercial rates. The ruling came in response to petitions filed by hostel owners in Chennai and Coimbatore challenging Chennai municipal authorities and the Chennai Metropolitan...

CENVAT Rules Cannot Apply Retrospectively To Concluded MODVAT Proceedings: Allahabad High Court

Recently, the Allahabad High Court has held that where proceedings under the MODVAT (Modified Value Added Tax) Scheme had concluded prior to the introduction of the CENVAT (Central Value Added Tax) Rules, it would not be open to the revenue department to issue fresh notices against the assessee under the new scheme. The MODVAT scheme, allowing manufacturers a tax credit on input duties,...

Bombay High Court Issues Notice On Plea Seeking CBI Probe Into Reliance's Alleged $1.55 Billion Gas Theft From ONGC

The Bombay High Court has issued notice on a petition seeking CBI probe against Reliance Industries Limited (RIL) and its directors, Mukesh Dhirubhai Ambani for allegedly stealing over USD 1.55 billion worth of natural gas from neighbouring Oil and Natural Gas Corporations (ONGC) wells in the Krishna Godavari Basin, off the coast of Andhra Pradesh. The petition was filed by Jitendra P Maru,...

Multiple Agreements Forming Part Of Same Commercial Project Can Be Referred To Single Arbitration: Gujarat High Court

The Gujarat High Court recently held that various agreements entered into between the parties forming part of the same commercial project can be referred to Arbitration, and one arbitrator can be appointed to adjudicate all the disputes arising from the various agreements. The Bench of Chief Justice Sunita Agarwal, while hearing a petition u/s 11 of the A&C Act, moved by...

Advance Given For Profit-Sharing In Real Estate Project Cannot Be Treated As 'Financial Debt': NCLAT New Delhi

The National Company Law Appellate Tribunal (NCLAT) New Delhi upheld the decision passed by the National Company Law Tribunal (NCLT) by which it had rejected an application under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by M/s Meck Pharmaceuticals and Chemicals Pvt. Ltd. against M/s Accurate Infrabuild Pvt. Ltd. A Bench comprising Justice Ashok...

Arbitral Award Without Corroboration Of Claim Certificate Patently Illegal: Himachal Pradesh High Court

The Himachal Pradesh High Court has held that when there is no appearance of a qualified person to corroborate the claim certificate, the arbitral award suffers patent illegality.A Division Bench of Chief Justice G.S. Sandhawalia and Justice Ranjan Sharma remarked that: “In the absence of corroboration of the certificate… and any qualified person putting in appearance, the award of...