Del Credere Agent Who Bears Buyer Default Risk Is Operational Creditor Under IBC: NCLAT Reaffirms

The National Company Law Appellate Tribunal (NCLAT) at New Delhi on Wednesday reiterated that a Del Credere Agent, an agent who guarantees payment to the supplier and bears the risk if the buyer defaults, is an operational creditor under the Insolvency and Bankruptcy Code and can initiate insolvency proceedings to recover unpaid dues. A bench of Judicial Member Justice Yogesh Khanna...

Business Law Daily Round-Up: December 17, 2025

TAX Commission Earned On Sale Of Agricultural Produce Attracts Service Tax Under 'Business Auxiliary Service': CESTAT AhmedabadService Tax | Extended Limitation Cannot Be Invoked Without Mens Rea, Deliberate Intent To Evade Duty To Be Proven: CESTAT ChandigarhNon-Availability Of GSTAT Cannot Be Used To Bypass Mandatory Pre-Deposit U/S 112(8) CGST Act: Orissa High CourtGST | Cannot Seek...

Financial Creditor Cannot Refuse To Share CIRP Cost After Taking Part In Its Approval: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has ruled that a financial creditor cannot refuse to pay its share of insolvency costs after participating in Committee of Creditors (CoC) meetings where those costs were placed before members and approved. A bench of Judicial Member Manni Sankariah Shanmuga Sundaram and Technical Member Atul Chaturvedi directed CFM Asset Reconstruction...

Claim Filed In Borrower Insolvency Not A Demand On Personal Guarantor, Cannot Trigger Insolvency: NCLT Kolkata

The National Company Law Tribunal (NCLT) at Kolkata has recently held that merely filing a claim in the borrower's insolvency proceedings cannot be treated as a demand on the personal guarantor, reiterating that a guarantee must be formally invoked in accordance with its terms before insolvency proceedings can be initiated against a guarantor. On this reasoning, the tribunal dismissed...

'Karmayodha' Film Plagiarism: Kerala Court Orders Major Ravi & Makers To Pay ₹30L To Scriptwriter Regi Mathew

The Commercial Court, Kottayam recently passed a judgment against Major Ravi and Mohammed Haneef, who are the director and producer of the 2012 Mohanlal-starrer movie 'Karmayodha', to pay a compensation of Rs. 30 lakhs to scriptwriter Regi Mathew.Sri. Manish D. A., Principal Sub-Judge, decided the suit preferred by Regi Mathew seeking permanent prohibitory injunction, declaration, damages and...

Income Tax Act | Reassessment U/S 147 Valid If Original Order Did Not Consider S. 80HHC Claim Earlier: Madras High Court

The Madras High Court held that reassessment under Section 147 of the Income Tax Act is valid if the original order is completely silent on the assessee's claim for deduction under Section 80HHC of the Income Tax Act. Section 147 of the Income Tax Act, 1961, empowers the Assessing Officer (AO) to assess or reassess income that has escaped assessment. Justices Anita Sumanth...

IGST Act | Place Of Supply Depends On Where Movement Terminates, Not Where Goods Were Handed To Carrier: Karnataka High Court

The Karnataka High Court held that for the purpose of determining the place of supply under Section 10(1)(a) of the IGST Act, the factor is the location where the movement of goods terminates for delivery to the recipient and not the place where the goods are handed over to the common carrier. Section 10(1)(a) of the Integrated Goods and Services Tax (IGST) Act, 2017, provides that...

GST Authorities Have No Power To Seal Cash During Search: Calcutta High Court Orders De-Sealing Of ₹24 Lakh

The Calcutta High Court held that the GST authorities do not have the power under Section 67 of the CGST Act to seal or seize cash. Accordingly, the bench directed the immediate de-sealing of Rs. 24 lakhs. Section 67 of the Central Goods and Services Tax (CGST) Act, 2017, grants tax authorities the powers of inspection, search, and seizure to prevent tax evasion and...

Packing Materials Are Integral Part Of Cement Sales, Cannot Be Taxed Separately At Different Rates: Patna High Court

In a ruling on sales tax valuation under the Bihar Finance Act, 1981, the Patna High Court has held that packing materials used for cement, such as gunny bags and HDPE bags, form an integral part of cement sales and cannot be subjected to separate tax rates distinct from the cement itself. The Division Bench of Justice Bibek Chaudhuri and Justice Dr. Anshuman dismissed a...

NCLT Ahmedabad Clears First Stage Of Adani Harbour–Adani Ports Merger

The National Company Law Tribunal (NCLT) at Ahmedabad on Tuesday cleared the first stage of the proposed merger between Adani Harbour Services Limited and its holding company Adani Ports and Special Economic Zone Limited, allowing the companies to move forward with the amalgamation process while dispensing with meetings of shareholders and creditors. A coram comprising Judicial Member...

Appointment Of SEBI Adjudicating Officer To Conduct Inquiry Is An Administrative Step, Not Finding Of Guilt: Delhi High Court

The Delhi High Court has recently held that the appointment of an adjudicating officer by the Securities and Exchange Board of India (SEBI) is only an administrative step to initiate an inquiry and does not amount to finding of guilt at that stage. A Division Bench of Justices Anil Kshetarpal and Harish Vaidyanathan Shankar overturned a Single Judge's decision that had halted SEBI's...

CESTAT Delhi Cancels Customs Broker's Licence For Helping Export Prohibited Goods Using Another Person/Firm's Name

The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), New Delhi, has upheld the cancellation of a Customs Broker's licence after finding that the broker helped export prohibited goods by filing documents in the name of a firm that had never hired it. A Bench of Justice Dilip Gupta (President) and P.V. Subba Rao (Member–Technical) dismissed the appeal filed by...