NCLT Bengaluru Admits Cauvery Neeravari Nigam To Insolvency Over ₹9.36 Crore Default

The National Company Law Tribunal (NCLT) at Bengaluru on Wednesday admitted a Karnataka government undertaking Cauvery Neeravari Nigam Limited into the Corporate Insolvency Resolution Process for a default of over Rs 9.36 crores. The bench of Judicial Member Sunil Kumar Aggarwal and Technical Member Radhakrishna Sreepada, while admitting an insolvency plea filed by project contractor...

LiveLawBiz: Business Law Daily Round-Up: December 11, 2025

TAXRailway Receipts & STTG Certificates Are Valid Documents For Availing CENVAT Credit Before 27.08.2014: CESTAT Kolkata'Did Not Apply Mind': Gujarat High Court Quashes Tax Authority's Order Refusing To Condone Delay In Filing Return Due To COVID Pandemic Customs Act | 'Prohibition Includes Restriction': CESTAT Chennai Holds S.111(d) Covers Both Complete & Partial Restricted...

Unauthorised Residents Association Cannot Trigger CIRP If Individual Homebuyers Miss Debt Threshold: NCLT Delhi

The National Company Law Tribunal (NCLT) at New Delhi has recently held that a Residents Welfare Association that is not authorised by individual homebuyers cannot initiate a corporate insolvency process on their behalf, particularly when those homebuyers do not individually meet the minimum debt threshold under the Insolvency and Bankruptcy Code. A coram of Judicial Member Manni...

Objections To Constitution of CoC Cannot Defeat RP's Plea To Reverse Preferential Deals: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad has held that objections to the constitution of the Committee of Creditors cannot be used to block a Resolution Professional's application under Section 43 of the Insolvency and Bankruptcy Code seeking to avoid and reverse preferential transactions.The tribunal said that avoidance proceedings are meant to protect the corporate debtor's...

Delhi High Court Restrains Online Stores Selling Counterfeit S Chand Books, Orders Flipkart To Remove Listings

The Delhi High Court has restrained four online bookstores from selling counterfeit versions of S Chand and Company Limited's textbooks after finding that pirated copies of the publisher's works were being sold through their storefronts on Flipkart. The Court also directed Flipkart to take down the infringing listings. A single bench of Justice Manmeet Pritam Singh Arora passed the...

Centre Empowers SEBI To Order Takedown Of Online Content Under IT Act

The Central Government has authorised the Securities and Exchange Board of India (SEBI) to issue directions for the removal or disabling of online content under the Information Technology Act, 2000. The Ministry of Finance issued a notification published in the Official Gazette on 8 December 2025, designating SEBI as the agency empowered to act under Rule 3(1)(d) of the Information Technology (Guidelines for Intermediaries and Digital Media Ethics Code) Rules, 2021 and Section 79(3)(b) of the...

Bottling Pepsi Doesn't Mean Promoting Pepsi's Goods; No Business Auxiliary Service: CESTAT Quashes Service Tax Demand

In a significant relief to SMV Beverages Pvt. Ltd., the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai has held that incentives received from Pepsi Foods for advertising and promotional activities cannot be taxed under Business Auxiliary Service (BAS). The Tribunal followed a Larger Bench ruling which categorically held that section 65(19) of the Finance Act does not...

SARFAESI Sale Cannot Proceed If Sale Certificate Is Not Issued Before IBC Moratorium: Bombay High Court

The Bombay High Court on Wednesday held that a secured creditor cannot proceed with a SARFAESI sale once an interim moratorium under the Insolvency and Bankruptcy Code comes into force. It rulled that the Union Bank of India was not entitled to accept balance payments or issue a sale certificate after the personal insolvency process against the borrower had commenced. In an order passed...

Delhi High Court Temporarily Bars Bhiwadi School From Infringing Delhi Public School's Well-Known Trademark

The Delhi High Court has temporarily restrained a Bhiwadi, Rajasthan-based school from using the name “Delhi Public School International,” the acronym “DPS,” or a torch-and-shield logo after finding them deceptively identical to the well-known marks of the Delhi Public School Society (DPS Society). The court also ordered that the school's domain name be suspended. Justice Manmeet...

Service Tax | Commission Earned From Foreign Suppliers Is 'Export Of Service': CESTAT Mumbai Sets Aside Demand Against Paramount Dyes

The Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai has held that commission received in India for facilitating sales of goods for foreign suppliers amounts to “export of service” and cannot be taxed under the category of Business Auxiliary Service (BAS).A Bench comprising S.K. Mohanty (Judicial Member) and M.M. Parthiban (Technical Member) allowed the appeal filed...

Amounts Shown As 'Other Advances' In Company's Balance Sheet Not Financial Debt Under IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently held that amounts shown in a company's balance sheet as “other advances”, including sums advanced years earlier without any repayment demand, do not qualify as borrowings and cannot therefore give rise to a financial debt under the Insolvency and Bankruptcy Code A coram of Chairperson Justice Ashok Bhushan...

Customs | Knitted Ready-Made Garments Fall Under CTH 6102, 10% Drawback Rate Applicable: CESTAT Kolkata

The Kolkata Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that knitted ready-made garments, such as Gents' shirts, Ladies' dresses, and coats, are classifiable under CTH 6102; hence, the exporters are entitled to a 10% drawback rate subject to a maximum of Rs. 45/- per piece. R. Muralidhar (Judicial Member) and K. Anpazhakan (Technical Member)...