Corporate
Issuing Cheques For Another Entity's Dues Doesn't Create Operational Debt: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently held that a company cannot be pushed into insolvency merely for issuing cheques on behalf of another entity, in the absence of a direct contractual relationship with the creditor. A coram comprising Justice Yogesh Khanna and Technical Member Ajai Das Mehrotra set aside an order of the National Company Law...
Power To Extend Mandate Of Arbitrator Appointed By HC Rests Exclusively With High Court: Calcutta High Court
The Calcutta High Court dismissed a revisional application filed by Cosmic MAPL JV challenging the Commercial Court's refusal to extend the mandate of an arbitrator under Section 29A(4) and 29A(5) of the Arbitration and Conciliation Act, 1996 (Arbitration Act). Justice Shampa Sarkar held that in cases where the referral court is the High Court under section 11, it also...
GST | Non-Mentioning Vehicle Number In Part-B Of E-Way Bill Is Curable Defect: Karnataka High Court
The Karnataka High Court in a matter concerning non-uploading of Part-B of E-way Bill, has set aside the revisional order and restored the order of Appellate Authority which allowed release of seized vehicle and imposed a General Penalty of Rs. 25000. Justice S.R. Krishna Kumar directed to refund the entire amount imposed on the Petitioner as penalty excluding Rs. 25000 as...
NCLAT Upholds Order Directing Dagcon's Former Directors To Contribute ₹10.54 Crore For Fraudulent Transactions
The National Company Law Appellate Tribunal (NCLAT) at New Delhi recently held that the former directors of the realty company Dagcon (India) Pvt. Ltd. must contribute Rs 10.54 crore to the company's assets for fraudulent transactions. The tribunal dismissed an appeal filed by suspended director Rana Sarkar and upheld an order of the National Company Law Tribunal at Kolkata.A bench...
Insolvency Plea Cannot Be Admitted When Information Utility Records Dispute: NCLAT New Delhi
The National Company Law Appellate Tribunal (NCLAT) held that a record of dispute in an Information Utility obligates the tribunal to reject an insolvency application filed by an operational creditor.A bench comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra set aside the order initiating insolvency against OFB Tech Pvt. Ltd. on an appeal filed by the...
Writ Petition Filed To Bypass Pre-Deposit Requirement Under MSMED Act Is Not Maintainable: Calcutta High Court
The Calcutta High Court dismissed a petition filed under Article 227 of the Constitution challenging an award passed by the West Bengal Micro & Small Enterprises Facilitation Council (MSEFC), holding that the petition was not maintainable and was filed to evade pre-deposit requirement under section 19 of the MSMED Act, 2006. Justice Hiranmay Bhattacharyya held that the...
Karnataka RERA Recalls Orders Transferring Decrees To Civil Courts Without Hearing Affected Parties
The Karnataka Real Estate Regulatory Authority (K-RERA) has recalled its own earlier orders permitting transfer of decrees to the civil court, holding that such orders were void for breach of natural justice and that decree holders must first seek execution before the Authority. A coram of Chairman Rakesh Singh and Member Gurijala Ravindranadha Reddy, in an order dated November 17, 2025,...
LiveLawBiz: Business Law Daily Round-Up: December 12, 2025
TAXCustoms | Goods Cannot Be Confiscated Solely On Local Market Survey/Opinion Without Proof Of Smuggling: CESTAT AllahabadCENVAT Credit Rules | Storage Of Finished Goods Outside Factory Due To Space Constraints Covered Under Rule 2(l); Credit Cannot Be Denied: CESTATIncome Tax Disputes Before HCs Doubled In Value Over Past Four Financial Years: Govt Tells Rajya SabhaCustoms Act | Mens...
IBC Doesn't Allow Extension of Personal Insolvency Process For Revisions Of Repayment Plan: NCLT Delhi
The National Company Law Tribunal (NCLT) at New Delhi has recently held that a personal guarantor cannot be granted repeated opportunities to revise a repayment plan once the statutory process under the Insolvency and Bankruptcy Code has run its course, and refused to allow any further extension of the personal insolvency resolution process. A coram comprising President Ramalingam Sudhakar...
NCLT Mumbai Approves ₹75 Crore IL&FS Financial Services–Siva Green Settlement
The National Company Law Tribunal (NCLT) at Mumbai recently approved a One Time Settlement of Rs 75 crore between Infrastructure Leasing and Financial Services Limited (IL&FS) and Siva Green Power Projects India Private Limited. It held that the proposal aligns with the IL&FS Group Resolution Framework mandated by the National Company Law Appellate Tribunal. A coram of Judicial...
Homebuyer Who Stayed In Delayed Real Estate Project Can Only Get Interest, Not Compensation: Punjab RERA
The Punjab Real Estate Regulatory Authority (RERA) recently held that a homebuyer who chooses to remain in a delayed housing project can only receive statutory interest for the period of delay and cannot seek compensation, rent or litigation expenses in addition. The Authority dismissed a complaint filed by homebuyer Vandana Negi seeking further relief against the residential project...
Orissa High Court Grants Interim Stay On ₹512 Crores GST Levy On Assignment Of Right To Use Natural Resources
The Orissa High Court on Thursday, in a plea by ESL Steel concerning the levy of GST on assignment of right to use natural resources as well as statutory charged paid on stamp duty, registration fees, payments for Compensatory Afforestation Fund (CAF), etc, has granted interim stay against GST demand of INR 512 Crores (plus interest and penalty). The Chief Justice Harish Tandon and...