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Supreme Court To Examine If NCLAT Can Refer Matter To Third Member When Two-Member Bench Delivers Split Verdict
The Supreme Court is set to decide whether, in the case of a split verdict by the National Company Law Appellate Tribunal (“NCLAT”), the reference of the case to a third member would be legally justifiable or should the matter be referred to a larger bench of three members for fresh adjudication. Observing that there is no clear procedure to address situations where a two-member bench...
NCLAT Rejects Jaypee Infratech's ₹15 Crore Interest Claim On Funds Deposited By JAL For Homebuyers
The National Company Law Appellate Tribunal (NCLAT) at Delhi on Tuesday dismissed a plea by real estate company Jaypee Infratech Ltd. (JIL) seeking interest of Rs 15 crore on nearly Rs 546 crore deposited by its parent company, Jaiprakash Associates Ltd. (JAL), for the benefit of homebuyers during JIL's insolvency proceedings A bench of Chairperson Justice Ashok Bhushan and Technical...
Supreme Court Seeks Union's Reply On Petitions Challenging Online Gaming Act
The Supreme Court on November 6 postponed the batch of petitions challenging the Promotion and Regulation of Online Gaming Act, 2025 ("Online Gaming Act"), which seeks to prohibit 'online money games' and the offering of bank services, advertisements, etc. related thereto. It has asked the Union Government to file a comprehensive reply. Before a bench comprising Justice JB Pardiwala and...
Income Tax Act | Supreme Court To Examine If S.12AA Registration Alone Entitles Trusts To 80G Benefits To Donors
The Supreme Court is set to examine whether the registration of a trust under Section 12AA of the Income Tax Act, 1961, which recognizes it as a charitable institution for income tax exemption purposes, is sufficient to entitle its donors to claim tax deduction benefits under Section 80G of the Act. A bench of Justice J.B. Pardiwala and Justice K.V. Viswanathan has issued notice on a...
IBBI Advises Insolvency Professionals To Seek ED-Attached Assets To Boost Recoveries
The Insolvency and Bankruptcy Board of India (IBBI), noting that assets of entities in insolvency are often under attachment by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), has issued a circular guiding insolvency professionals on seeking restitution of such assets. In a circular issued on November 4, addressed to all registered insolvency...
NCLT Mumbai Approves Merger Of Snack Brand 'Dinshaws' With Its Dairy Business
The National Company Law Tribunal (NCLT) at Mumbai on Monday approved the merger of Dinshaws Snacks & Foods Private Limited with Dinshaw's Dairy Foods Private Limited, bringing the popular snack brand and its dairy arm under a single company.A coram of Judicial Member K R Saji Kumar and Technical Member Anil Raj Chellan in an order passed on November 3 observed that the scheme was fair...
District Judge Appointments | Not Comparing Promotees With Direct Recruits, Says Supreme Court Reserving Judgment On Seniority Norms
The Supreme Court today reserved its judgment on the issue whether there should be a quota for the promotion of serving judicial officers as District Judge posts. The 5-judge Bench of Chief Justice of India BR Gavai, Justices Surya Kant, Vikram Nath, K Vinod Chandran and Joymalya Bagchi is considering whether to lay down uniform pan-India guidelines to determine the inter-se seniority in...
Supreme Court Pulls Up Madhya Pradesh Police For Filing False Affidavit On Criminal Antecedents; Summons Officers
The Supreme Court has strongly criticised the Madhya Pradesh Police for submitting a false affidavit, opposing a bail plea, attributing multiple criminal cases to an accused who was not involved in them.A Bench of Justices Ahsanuddin Amanullah and Sandeep Mehta noted that the State's first affidavit had claimed that the petitioner had “eight other criminal antecedents.” However,...