Corporate
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...
Delhi High Court Restrains Two-Wheeler Manufacturer From Using 'Destiny' Marks Similar To Hero Motocorp
The Delhi High Court has restrained Sunanda Greentech Pvt. Ltd., an electric two-wheeler manufacturer, from producing or selling scooters under the marks “Destiny”, “Destiny+”, “Destiny Pro” and “Dest Pro,” after finding them deceptively similar to Hero MotoCorp's registered “Destiny/Destini” trademarks. The court held that the similarity in both the marks and the...
IBC Auctions Not Ordinary Commercial Contracts, Market Volatility No Defence For Evading Bid Obligations: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at New Delhi has recently held that a successful bidder in a liquidation e-auction who voluntarily accepts statutory terms cannot avoid payment obligations by citing market fluctuations or delays not attributable to the liquidator, and set aside an NCLT Kolkata order directing refund of the Rs 2 crore earnest money deposit. A Bench of...
Correctness Of NPA Classification Irrelevant To Initiating CIRP Once Default Is Proven: NCLT Mumbai
The National Company Law Tribunal (NCLT) at Mumbai has recently held that insolvency proceedings under the Insolvency and Bankruptcy Code depend only on the factual occurrence of default and are not affected by alleged irregularities in declaring an account as a Non Performing Asset or by non compliance with the MSME rehabilitation framework. It ruled that objections to the bank's...
Chandigarh Consumer Commission Rejects Appeal For Higher Compensation In Ford Endeavour Repair Case
The Chandigarh State Consumer Disputes Redressal Commission, comprising Justice Raj Shekhar Attri (President) and Rajesh Kumar Arya (Member), has dismissed an appeal filed by M/s Green Force Engineers Pvt. Ltd. seeking enhancement of compensation for alleged faulty repair of a Ford Endeavour by M/s Bhagat Cars Pvt. Ltd. (Bhagat Ford). Brief Facts M/s Green Force Engineers Pvt....