Corporate
Future Coupons Moves Delhi High Court Against SIAC Award In Favour Of Amazon
Kishore Biyani led Future Coupons Private Limited (FCPL) has moved the Delhi High Court challenging the Singapore International Arbitration Centre (SIAC) award that directed the company and its promoters to pay Rs 23.7 crore in damages, along with arbitration and litigation costs, to Amazon.com NV Investment Holdings LLC.A Single Bench of Justice Jasmeet Singh, after counsel for Future...
Payment Of Tax Cannot Legalise Unlicensed Activity, GST Registration Doesn't Confer Right To Conduct Business: J&K&L High Court
The High Court of Jammu & Kashmir and Ladakh has held that obtaining registration under the Goods and Services Tax Act, 2017, does not amount to authorisation to conduct a trade or business, nor can payment of tax legitimise an otherwise unlicensed commercial activity.The High Court clarified that taxation statutes and regulatory licensing statutes operate in distinct spheres, and...
Delhi High Court Allows 'Gulshan-e-Karim' To Use Name With Disclaimer In 'Karim's' Trademark Dispute, Calls It Innocent Infringment
The Delhi High Court on Thursday ruled that while the marks “Karim's” and “Gulshan-e-Karim” are similar, a complete ban on the latter's use would be excessive. The Court has allowed a Moradabad-based restaurant to continue using its name, provided it clearly states that it has no connection with the iconic Karim's chain in Delhi. A Division Bench of Justice C Hari Shankar and...
NCLAT Sets Aside Order Initiating Insolvency Against Realty Firm Mahagun, Orders Fresh Adjudication
In a relief to nearly 8,000 homebuyers, the National Company Law Appellate Tribunal (NCLAT) on Thursday set aside an order initiating insolvency against the Noida-based realty firm Mahagun (India) Pvt. Ltd., directing the adjudicating authority to reconsider the matter afresh. A bench of Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra noted that the National Company...
NCLT Mumbai Refuses To Initiate Investigation Into Former Management of 'Smaaash Entertainment'
The National Company Law Tribunal (NCLT) at Mumbai has recently refused to order an investigation into the erstwhile management of Smaaash Entertainment Private Limited, a gaming company known for its virtual reality-based entertainment centres. However, it has directed that a copy of its order be sent to government authorities to examine possible irregularities and non-compliances by...
Customs Act | Electronic Evidence From Unsealed CPU Without Certificate U/S 139C Cannot Form Basis Of Assessment: CESTAT
The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that electronic evidence from an unsealed CPU without any Section 139C certificate under the Customs Act cannot form the basis of assessment. Dr. Rachna Gupta (Judicial Member) and P.V. Subba Rao (Technical Member) opined that the computer/ CPU was not sealed at the time of panchnama and...
Delhi High Court Restrains Beauty Salon From Infringing Lotus Herbals' Mark
The Delhi High Court has restrained a beauty salon from using the name “Lotus Salon” or any mark deceptively similar to Lotus, a popular personal care and cosmetics brand, observing that there was prima facie evidence of trademark infringement and passing off.A single bench of Justice Tejas Karia passed the interim order on November 3 in a suit filed by Lotus Herbals Pvt. Ltd., which...
Admission Of Claim By RP Is No Defence To Preferential Transaction U/S 43 of IBC: NCLT Mumbai
The National Company Law Tribunal (NCLT) Mumbai bench of Shri K. R. Saji Kumar (Judicial Member) & Shri Anil Raj Chellan (Technical Member) held that just because the claim had been submitted and accepted by the Resolution Professional, it does not negate preferential transaction under section 43 of the IBC. It held that “submission of a claim by a person with the...
NCLT Kochi Orders Liquidation Of Malayalam Vehicles India Pvt Ltd After CoC Fails To Receive Any Resolution Plan
The National Company Law Tribunal (NCLT), Kochi Bench, has ordered the liquidation of Malayalam Vehicles India Private Limited (a former Tata Motors passenger vehicle dealer) in furtherance to the resolution passed by the Committee of Creditors (CoC) to liquidate the corporate debtor. The bench comprising Judicial Member Vinay Goel and Technical Member Madhu Sinha observed...
International Workers Employed In India Must Contribute to Employees' Provident Fund : Delhi High Court
The Delhi High Court recently (November 4) ruled that international workers employed in Indian companies, who are not covered by a social security scheme in their home country, must enroll in and contribute to the Employees' Provident Fund. The court rejected claims that this requirement was discriminatory or unconstitutional. The bench of Chief Justice Devendra Kumar Upadhyaya and...
Gensol Insolvency: NCLAT Refuses To Expunge NCLT's Remarks Against IRP, Says Observations Not Adverse To His Conduct
The National Company Law Appellate Tribunal (NCLAT) recently refused to expunge certain adverse observations made against insolvency professional Pulkit Gupta in an order passed by the National Company Law Tribunal (NCLT), Ahmedabad, while admitting insolvency proceedings against Gensol Engineering Limited and its group entity Gensol EV Lease Limited. The appellate tribunal, in an order...
Shareholder Advances Recorded As 'Repayable On Demand' Qualify As Financial Debt: NCLT Mumbai
The National Company Law Tribunal (NCLT) Mumbai bench of Sushil Mahadeorao Kochey (Judicial Member) and Prabhat Kumar (Technical Member) admitted a petition under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by Euro Corporate Services Pvt. Ltd. (formerly Distent Barter Pvt. Ltd.) against Royal Fantasy Constructions Pvt. Ltd (Corporate Debtor) holding that the...