Corporate
Challenge To Transfer Order Becomes Unsustainable Once Employee Joins The Transferred Post: Chhattisgarh HC
A Division bench of the Chhattisgarh High Court comprising Chief Justice Ramesh Sinha and Justice Amitendra Kishore Prasad held that challenge to a transfer order is generally not maintainable after the employee has joined the transferred post. Background Facts The Lecturer (History) was serving at Government Girls Higher Secondary School, Abhanpur. He was declared surplus...
CCI Has No Power to Investigate Disputes Concerning Abuse Of Patents: NCLAT
The National Company Law Appellate Tribunal (NCLAT) on Thursday reaffirmed that the Competition Commission of India (CCI) has no authority to investigate disputes involving the exercise of patent rights, holding that such matters fall exclusively under the Patents Act, 1970.The tribunal said that when a product is protected by a patent, issues related to its pricing or licensing must be...
Income Tax | Assessee Should Not Be Penalised For Delay In Filing Return Caused By CA's Belated Advice: Bombay High Court
The Bombay High Court has held that the assessee should not be penalised for the delay in filing the return caused by the chartered accountant's belated advice. The bench noted that the delay is not due to any negligence on the part of the assessee, but to inadequate advice by the Chartered Accountant, a fact admitted by him in his affidavit. Justices B.P. Colabawalla and Amit...
GLAS Trust Moves Supreme Court Against NCLAT Order Allowing Aakash to Proceed wth Rights Issue
GLAS Trust Company LLC, a US-based lender to embattled ed-tech Byju's (Think & Learn Pvt. Ltd.), has moved the Supreme Court challenging the National Company Law Appellate Tribunal's (NCLAT) order that refused to stay Aakash Educational Services Ltd.'s Extra Ordinary Meeting to approve rights issue.The lender, which represents Byju's largest creditors, has sought an immediate halt to...
Burden To Prove Ownership Of Assets Lies On Claimant; Liquidator Not Required To Establish Title To Assets In His Custody: NCLAT
The National Company Law Appellate Tribunal (NCLAT) New Delhi upheld an order passed by National Company Law Tribunal (NCLT) allowing liquidators to remove moveable assets from the leased premises owned by Reliance Realty Limited (RRL) and restraining RRL from obstructing access to such assets. A bench of Justice Ashok Bhushan and Mr. Barun Mitra (Technical Member) held that “when...
INX Media Case: PMLA Appellate Tribunal Rejects Karti Chidambaram's Plea Against ED Asset Attachment
The Appellate Tribunal under Smugglers and Foreign Exchange Manipulators Act (SAFEMA) at Delhi (PMLA Appellate Tribunal) on Wednesday dismissed a plea by former Union minister P Chidambaram's son, Karti P Chidambaram, challenging the Enforcement Directorate's attachment of his assets in the INX Media money laundering case.In an order dated October 29, 2025, passed by a coram of Balesh Kumar...
Company's Worth Is Irrelevant For Initiating Insolvency If Debt & Default Are Established: NCLAT New Delhi
The Company Law Appellate Tribunal (NCLAT), New Delhi, comprising Justice Ashok Bhushan (Chairperson) and Arun Baroka (Member-technical), has held that the company's worth is irrelevant for initiating insolvency if debt and default are established. The appeal was filed against the admission of the Section 7 application filed by the Axis Bank against the corporate debtor for debt...
NCLT Mumbai Orders Insolvency Of Kute Group's Tirumalla Agro Industries
The National Company Law Tribunal (NCLT), Mumbai Bench-VI, has admitted the section 9 IBC petition filed by Aryatech Platforms Pvt. Ltd. against Tirumalla Agro Industries (Unit Company of Kute Group). Tirumalla Agro becomes the second entity in the conglomerate to face the insolvency. The group is already stumbling from a Rs. 2500 Cr. co-operative society fraud scandal, and its...
Delhi High Court Upholds Liability Of Company To Reimburse Official Liquidator's Security Expenses For Safeguarding Corporate Assets
A division bench of the Delhi High Court, comprising Justice Anil Kshetrapal and Justice Harish Vaidyanathan Shankar, has upheld the liability of a company to reimburse the official liquidator's security expenses for safeguarding corporate assets. Background of the Case The winding-up process of the appellant company (M/s Connoisseur Buildtech Pvt. Ltd.) was going on in the year...
No One Can Claim Exclusivity Over Name Of Chhatrapati Shivaji Maharaj : Bombay High Court Refuses To Stall Release Of Marathi Film
The Bombay High Court has recently ruled that no one can claim exclusive rights over the name of 'Chhatrapati Shivaji Maharaj', while rejecting a film producer's plea to stop the release of a Marathi movie using the Maratha ruler's name in its title.A single bench of Justice Amit S. Jamsandekar made the observation while refusing relief in a plea by Everest Entertainment LLP, the producer of...
NCLT Approves Demerger Of Hindustan Unilever's Ice Cream Business Into Kwality Wall's
The National Company Law Tribunal on Thursday approved the demerger of Hindustan Unilever Limited's ice cream business into its wholly owned subsidiary, Kwality Wall's (India) Limited.The scheme will create a separate, independently listed ice cream company and is part of the global restructuring plan of HUL's parent company, Unilever PLC. The scheme was approved by a coram of Judicial...