Damages Arising Out of Contractual Disputes Cannot Trigger Insolvency Proceedings: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has held that claims arising from liquidated or unliquidated damages, which it said are contractual in nature, cannot be used to trigger insolvency proceedings as it dismissed Goodrich Logistics Private Limited's CIRP plea against Transrail Lighting Limited.A coram of Judicial Member Ashish Kalia and Technical Member Sanjiv Dutt said the...

Electricity Bill Dispute Must Go To CGRF; Uttarakhand State Commission Sets Aside Order Against UPCL

The Uttarakhand State Consumer Disputes Redressal Commission, comprising Kumkum Rani (President) and C.M. Singh (Member), set aside a complaint filed against Uttarakhand Power Corporation Ltd. seeking rectification of an electricity bill. The Commission allowed the appeal and held that the complaint was not maintainable, as the District Commission lacked jurisdiction to entertain...

NCLT Mumbai Sanctions ITM Edutech's Restructuring Plan to Demerge Its Online Education Business

The National Company Law Tribunal (NCLT) at Mumbai has approved the second-motion petition filed by ITM Edutech Training Pvt Ltd and ITM Edutech (India) Ltd, allowing the group to restructure its online education and training courses through a demerger into the resulting company, ITM Edutech (India) Ltd. The tribunal held that the scheme “appears to be fair and reasonable and is not...

Calcutta High Court Rejects Borrower's Suit Seeking Enforcement Of One-Time Settlement With Bank of Maharashtra

The Calcutta High Court has rejected a suit filed by Senbo Engineering Limited seeking enforcement of an alleged “concluded” One-Time Settlement (OTS) with the Bank of Maharashtra, holding that a borrower cannot compel a bank to accept an OTS or seek specific performance of such a proposal.Justice Aniruddha Roy held that OTS proposals have no statutory force, and a borrower cannot...

Centre Rationalises Drone Taxation: Uniform 5% GST, IGST & Customs Duty Relief For Flight Simulators

The Union Government has informed the Lok Sabha that drones across all categories will now attract a uniform 5% GST, following the recommendations of the 56th GST Council Meeting held on 03.09.2025, aimed at removing classification disputes and promoting ease of doing business in the aviation and emerging-technology sectors. Replying to Unstarred Question No. 708, the Minister of...

SEBI Cracks Down On Finfluencer Avadhut Sathe, Impounds ₹546 Crore For Providing Unregistered Investment Advice

The Securities and Exchange Board of India (SEBI) has banned finfluencer Avadhut Sathe from the securities market and impounded Rs 546.16 crore of unlawful gains after finding that he was providing unregistered investment advisory services in the garb of stock market education. SEBI also found that many participants who acted on his instructions suffered losses, while Sathe himself often did...

Evasion Of Tax Cannot Be Attributed To Transporter When Consignor Accepts Error In Loading Goods: Allahabad High Court

The Allahabad High Court has held that evasion of tax cannot be attributed to the transporter when consignor accepts error in loading goods. Certain goods were intercepted in transit from Dehradun to Delhi. After notices were issued to the cosigner/ consignee, the goods were released in their favour. Subsequently, an order alleging intention to evade tax under Section 129 of the GST...

Imitation Zari Thread Made From Plastic/Polyester Film With Aluminium Metal Attracts 5% GST, Post Rate-Rationalization

The Gujarat Authority for Advance Ruling (AAR) has held that supply of imitation zari thread or yarn made from metallised polyester or plastic film, widely used in sarees or garments in place of real gold or silver zari thread would attract GST at 5%. In a ruling dated November 29, 2025 Gujarat AAR comprising Shri. Vishal Malani (Memmer- Central Tax) and Smt. Sushma Vora (Member-...

Haryana RERA Directs Emaar MGF To Pay 10.85% Interest To Homebuyer For Six-Year Delay In Possession

The Haryana Real Estate Regulatory Authority (RERA) has held that Emaar MGF Land failed to meet its contractual obligation to hand over a flat in its Emerald Floors Premier Phase III project in Gurugram on time, and directed the developer to pay delayed possession interest at 10.85% per annum from 28 May 2014 until the offer of possession plus two months or the actual handover, whichever...

Haryana RERA Dismisses Homebuyers' Complaint Against M3M, Orders Full Refund Of Booking Amount

The Haryana Real Estate Regulatory Authority (RERA) has dismissed a complaint filed by two homebuyers against M3M India, holding that they had no right to seek an allotment letter or execution of the builder-buyer agreement (BBA) since the booking never matured into a confirmed allotment. A coram of Member Ashok Sangwan said the homebuyers had not complied with the required payment...

Uncrystallised Contractual Rights Not Part Of Corporate Debtor's Assets Protected By Moratorium: NCLT Mumbai

The National Company Law Tribunal (NCLT) at Mumbai has recently held that uncrystallised contractual rights do not form part of a corporate debtor's “assets” protected during moratorium. The tribunal made the ruling as it dismissed Fabtech Sugar Limited's plea seeking restoration of its cancelled grid connectivity, that that had never been operationalised. The tribunal found that...

NCLT Ahmedabad Permits Guarantor's US Travel Despite Creditor Protests, Notes Minor Children's Immigration Needs

The National Company Law Tribunal (NCLT) at Ahmedabad has allowed a bankruptcy bound personal guarantor to travel to the United States despite acknowledging serious concerns about his conduct, taking what it described as a lenient view only because his two minor children's immigration status depends on his US Green Card. A bench of Judicial Member Shammi Khan and Technical Member Sanjeev...