Securities Premium Account Cannot Offset Accumulated Losses: NCLT Bengaluru

The National Company Law Tribunal at Bengaluru has recently clarified that while a company may reduce its paid-up share capital to write off accumulated losses under Section 66 of the Companies Act, the securities premium account cannot be used for such write-off, as this is expressly prohibited under Section 52 of the Act. A coram of Judicial Member Sunil Kumar Aggarwal and Technical...

LiveLawBiz: Business Law Daily Round-Up: November 26, 2025

ArbitrationArbitration | Unconditional Stay On Execution Of Award Only In Exceptional Cases: Supreme CourtPower To Extend Arbitrator's Mandate Lies With Civil Court Of Original Jurisdiction, Not Appointing Court: Telangana High CourtBombay High Court Upholds Arbitral Award In Favour Of TCS; Rejects UP Assembly's 'Frustration' Claim Over Cancelled Recruitment ExamIBCPending Appeal Against...

Delhi High Court Rejects Philips' Plea For Perjury Action Against Ex-Employee In Software Piracy Case

The Delhi High Court has refused to initiate perjury proceedings against a former Philips employee, holding that Philips had not produced the kind of clear and unquestionable evidence required for criminal action. The ruling came in a copyright and trade secret dispute involving Philips' medical imaging software “IntelliSpace Portal” (ISP). In a judgment dated November 24, 2025,...

Settlement With Concessionaire Doesn't Erase NHAI's Role In Dispute: Delhi High Court Dismisses Substitution Petition

The Delhi High Court refused to interfere with an arbitral tribunal's order rejecting the plea of National Highways Authority of India's (NHAI) to substitute itself with a special purpose vehicle (SPV) in an ongoing arbitration initiated by CFM Asset Reconstruction Pvt. Ltd. (CFM ARC). The court held that the substitution could prejudice claimants' rights and that court's...

No Authority Under GST Act To Reserve Judgement & Deliver It Later Without Issuing Notice To Assessee: Allahabad High Court

The Allahabad High Court has held that nothing under the Goods and Service Tax Act, 2017 the relevant rules, and notifications, allows the authorities to reserve judgements on the fixed date and pass them later, especially without informing the assessee. The petitioner was issued a show cause notice on 17.02.2022. The petitioner submitted a reply but the respondent passed an order...

SEBI Penalises Reliance Securities ₹5 Lakh For Cyber Security Lapses Found During Investigation

The Securities and Exchange Board of India (SEBI) on Wednesday imposed a penalty of Rs 5 lakh on Reliance Securities Limited after the regulator found several violations of cyber security and cyber resilience norms during an inspection covering April 01, 2023 to October 31, 2024. The order, passed by Adjudicating Officer Amit Kapoor, said the brokerage failed to comply with critical...

Haryana RERA Directs Ocean Seven Buildtech To Refund Homebuyer's Payment After Deducting ₹25,000 Under Affordable Housing Policy

Haryana Real Estate Regulatory Authority (“Authority”) bench comprising of Phool Singh Saini (Member) clarified that when a homebuyer fails to comply with a payment demand in an Affordable Housing project, the builder may cancel the allotment only in accordance with clause 5(iii)(i) of the Affordable Group Housing Policy 2013. In such cases, the builder must refund the amount paid...

Madras High Court Quashes Order Allowing Pfizer To Seek Documents From Indian Drug Manufacturer For US Suit

The Madras High Court has overturned a Single Judge's order that had permitted pharmaceutical giant Pfizer to enforce Letters Rogatory issued by a United States court to obtain documents and testimony from Chennai-based Softgel Healthcare Pvt. Ltd. Letters Rogatory are formal requests sent by a court in one country to a court in another country seeking assistance in gathering evidence for a...

Delhi High Court Grants Relief To Tesla Inc, Extends Bar on Indian Company's Use of 'Tesla' Marks In EV Market

The Delhi High Court on Monday granted relief to the U.S.-based electric vehicle company Tesla Inc. by directing that the undertaking earlier given by the India-based Tesla Power India Pvt. Ltd., stating that it will not manufacture or market electric vehicles or use any mark deceptively similar to 'Tesla' for EVs, shall continue until the trademark infringement suit is finally decided.In...

Haryana RERA Directs Emaar MGF To Refund Homebuyers After Delayed Possession Of Nearly 4 Years

Haryana Real Estate Regulatory Authority (“Authority”) bench comprising of Phool Singh Saini (Member) directed Emaar MGF to refund the amount paid by the homebuyers after the builder provided possession with a delay of about 3 years and 10 months. Authority also allowed the builder to deduct 10 percent of the basic sale consideration of the flat, which was Rs 94.60 lakh,...

Delhi High Court Slaps ₹1 Lakh Cost On Litigant For Misusing Writ Jurisdiction To Stall DRT, NCLT Proceedings

The Delhi High Court recently imposed costs of Rs 1 lakh on a litigant while dismissing his writ petition that sought to halt proceedings pending before two Debts Recovery Tribunals and the National Company Law Tribunal. The Court held that the petitioner, Sanjeev Krishan Sharma, had failed to show any violation of fundamental rights, statutory mandate or natural justice that could...

Tamil Nadu Govt Waives E-Way Bill Requirement For Mahindra & Mahindra's Demo Cars With Trade Plate

The Government of Tamil Nadu has waived the requirement for generating E-way Bill for vehicles sent by Mahindra & Mahindra for road testing. Mahindra & Mahindra in a representation sought for waiving off requirement of E-way bill for motor vehicles for road testing under Rule 138A (5) of MGST Rules, 2017. Considering the difficulties faced in the generation of E-way...