Corporate
Supreme Court Restores Property Of Corporate Debtor Attached Under PMLA To Successful Resolution Applicant
The Supreme Court recently reiterated that the objective of Section 8(8) of the Prevention of Money Laundering Act(PMLA) is to ultimately restore any attached properties to the bonafide successful resolution application(SRA) who have a legitimate interest in it.Section 8(8) allows the Special Court to direct the Central Government to restore property that has been confiscated under the Act to...
Delhi High Court Closes Music Copyright Suit After Music Licensing Company Confirms Pre-1965 Songs Need No Licence
The Delhi High Court has disposed of a suit filed by Bignet Solutions LLP seeking a declaration that its use of pre-1965 sound recordings at a private event would not infringe Novex Communication Pvt. Ltd.'s copyright, after noting that Novex had categorically stated it does not claim any rights over sound recordings published before 1965. Justice Manmeet Pritam Singh Arora passed the order...
Centre Outlines Response To US Tariffs; Announces ₹25,060 Cr Export Promotion Mission, RBI Relief & Credit Support
The Centre on Tuesday in response to impact of escalation in Tariffs imposed by the United States of America has clarified that it is countering through trade negotiations, export promotion schemes, credit support, RBI relief, and FTA diversification. As immediate steps, the following Trade relief measures had been introduced to provide priority support for sectors hit by...
Central Excise Exemption For Cotton Fabrics Not Available If Any Interlinked Process Uses Power : Supreme Court
The Supreme Court has held that manufacturers cannot claim central excise duty exemption for processed cotton fabrics if power is used at any stage of the manufacturing chain, even when the work is carried out through separate units. The Court restored a duty and penalty demand that had been set aside by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).To claim excise...
NCLT Chennai Clears Scheme For Merger Of TVS Investments With TVS Electronics
The National Company Law Tribunal at Chennai has recently approved a scheme filed by TVS group companies, sanctioning their amalgamation and permitting the merger of TVS Investments into TVS Electronics. The tribunal noted that the scheme was beneficial to the company and its shareholders and found no ground to withhold approval. A bench of Judicial Member Sanjiv Jain and Technical...
Bombay High Court Restores Registration Of Imported Car, Says RTO Cannot Ignore Customs Settlement Commissions' Findings
The Bombay High Court has held that authorities cannot override or ignore the findings of the Customs Settlement Commission while taking administrative action. The Court ruled that once the Commission accepts the disclosure, settles duty liability and grants immunity under Section 127H of the Customs Act, its order becomes final and conclusive under Section 127J, and no other authority...
Haryana RERA Dismisses Complaint Against Vatika Ltd After Complainant Fails To Show Proof Of Allotment
The Haryana Real Estate Regulatory Authority recently dismissed a complaint seeking execution of a builder buyer agreement, allotment of a plot, possession and delayed possession charges for a Vatika project in Gurugram after holding that the complainant had not produced any evidence to show that a plot had ever been allotted.The matter was heard by a bench of Chairperson Arun Kumar, who...
Punjab RERA Orders Omaxe Chandigarh Extension Developers To Pay Interest To Homebuyer For Five-Year Delay In Possession
The Punjab Real Estate Regulatory Authority has recently directed Omaxe Chandigarh Extension Developers to pay statutory interest to a homebuyer for a delay of more than five years in handing over possession of a flat in its project 'The Lake'. A coram of Member Arunvir Vashista held that the delay violated Section 18(1) of the RERA Act and that the homebuyer was entitled to interest from...
NCLT Ahmedabad Orders Liquidation of Eskay K'N'IT After CIRP Yields No Resolution Plan
The National Company Law Tribunal (NCLT) at Ahmedabad has recently ordered the liquidation of Eskay K'N'IT (India) Limited and appointed insolvency professional Sunit Jagdishchandra Shah as liquidator, rejecting the Committee of Creditors' recommendation to retain the existing Resolution Professional, Ajit Kumar, as the liquidator. A bench of Judicial Member Chitra Hankare and Technical...
LiveLawBiz: Business Law Daily Round-Up: December 02, 2025
TAX AssessmentOrder Passed Without Awaiting DVD Report Violates S. 50C(2) IncomeTax Act: ITAT Ahmedabad 'WritNot Maintainable In Face Of Disputed Ownership': Delhi High Court InCustoms Gold Confiscation Case S.153C Income Tax Act | Public Info, Unrelated Data Seized FromSearched Person Not Enough To Issue Show Cause Notice: Gujarat HighCourt IncomeTax Act | S. 153C Proceedings Unsustainable...
Bombay High Court To Examine If Non-Advertised Project Need Mandatory RERA Registration
The Bombay High Court has stayed a Maharashtra Real Estate Appellate Tribunal order requiring a builder to register two additional wings of its real estate project in Maharashtra, noting that the central issue of whether registration under Section 3 of the Real Estate (Regulation and Development) Act becomes mandatory when no units are advertised or offered for sale requires...