Customers Cannot Suffer Due To Your Technical Glitches Of Revenue Department, States Division Bench Of Bombay High Court To Chief Controlling Revenue

Bombay High Court Snubs Chief Controlling Revenue Authority To Not Only Adjust The Stamp Duty Paid But Also Directed Them Stating That The Power Company Is Not Liable To Pay A Wrong Penalty A precedent is laid down by the Hon'ble Bombay High Court in the Writ Petition No. 1007 of 2018, wherein the Division Bench of His Lordship Hon'ble Justice Shri S.V. Gangapurwala and His Lordship Hon'ble Justice Shri Madhav J. Jamdar vide their order dated 22nd August, 2022 have directed the Chief...

Insolvency And Bankruptcy Code, 2016 Will Prevail Over Customs Act, 1962

The Supreme Court has passed a landmark decision today in the matter of "Sundaresh Bhatt vs. Central Board of Indirect Taxes & Customs" [Civil Appeal No. 7667 of 2021] and held that the provisions of the Insolvency and Bankruptcy Code, 2016 ("Code") will prevail over the provisions of the Customs Act, 1962 ("Customs Act") and consequently set aside the order of the National Company Law Appellate Tribunal ("NCLAT"). The appeal was filed by the Liquidator of ABG Shipyard Ltd....

Dua Associates Advises SWAMIH Investment Fund I For Its Rs 90 Crore Funding Of Nav Grih Developers Private Limited For Meerut Project

The affordable housing segment has been among the front-runners in terms of growth in the real estate sector. Dua Associates advised and assisted SBICAP Ventures Limited as the investment manager of SWAMIH Investment Fund I, in relation to its funding of Nav Grih Developers Private Limited for the stalled real estate Project Sikka Krissh Greens located in, Meerut, Uttar Pradesh. Dua Associates' team for Corporate Due Diligence and Documentation was led by Prateek Bedi, Partner,...

Luthra And Luthra Advise O2 Power In Its Acquisition Of Solar Power Portfolio In Karnataka And Telangana

Luthra and Luthra Law Offices India assisted O2 Power Singapore (a renewable energy platform backed by EQT Infrastructure and Temasek) in relation to the acquisition of a portfolio of solar power plants (comprising 5 solar projects with a cumulative capacity of 55 MW) from a Bengaluru-based solar panel manufacturer Emmvee Photovoltaic Power.The plants are situated in Karnataka and Telangana and have an aggregate installed capacity of 55 MW, comprising of captive C&I solar project (selling...

Argus Partners Advises Piramal Capital And Housing Finance Limited In Connection With Its Investment In Earlysalary

Argus Partners has acted as the legal counsel to Piramal Capital and Housing Finance Limited in connection with its investment in fintech start-up, 'EarlySalary'.EarlySalary has raised close to $97 Mn (Rs. 775.4 Crores) in the funding round which also saw participation from TPG Growth and Norwest Capital.The Argus Team consisted of Vinod Joseph (Partner) and Aryan Mohindroo (Associates).

Argus Partners Advises Exponent Energy On Raising USD 13 Million In Its Series A Funding Round

Argus Partners has acted as the legal counsel to an electric vehicle charging infrastructure startup, Exponent Energy (Exponent Energy Private Limited), on raising USD 13 million in its Series A funding round. The funding round was led by Lightspeed, with all existing institutional investors such as YourNest VC, 3one4 Capital and AdvantEdge VC also participating.The Argus Team consisted of Ankit Guha (Partner), Shabareesh Suresh (Principal Associate) and Prachi Tiwary (Associates).

Luthra and Luthra Law Offices India Acts As Indian Legal Counsel For FS India Solar Ventures Private Limited

Luthra and Luthra Law Offices India acted as Indian legal counsel for FS India Solar Ventures Private Limited in relation to the financing made available by United States International Development Finance Corporation for an amount of US$500 million to the Borrower for the purpose of financing development and construction of the 3.3GW-per-annum cadmium telluride solar module manufacturing facility at the Pillaipakkam Industrial Park located in the state of Tamil Nadu. This was the first...

Illegal Kidney Transplantation Accused Gets Bail In Money-Laundering Case

Dr Amit Kumar Raut @ Amish Raval allegedly received Rs. 89 lakhs for committing illegal Kidney transplantation at Gangotri Hospital, Dehradun. In this case, the ECIR was registered by the Directorate of Enforcement on 03.10.2017. However, the complaint for the alleged offence was filed before the Special Court-PMLA, Tis Hazari Court, Delhi, on 14.03.2022. The Special Public Prosecutor strongly opposed the bail by stating that in the case of VijayMadan Lal Choudhary V. Union of India,...

Luthra And Luthra Becomes The Only Indian Law Firm In India That Has Acted As Counsel For Three Bond Issuances For A Renewable Energy Invit.

The Firm's Banking and Finance team recently advised ICICI Bank Limited and Yes Bank Limited (the "Arrangers") in connection with the private placement of up to 500 secured, rated, listed, redeemable, non-convertible debt securities aggregating up to INR 50,00,00,000 (Rupees Fifty Crores) by Virescent Renewable Energy Trust (the "InvIT") (the "Issue").The Firm was involved in drafting, reviewing, negotiating and finalizing the debenture documents including the debt security trust deed, security...

Dua Associates Advises BLS E-Services Private Limited In Its Acquisition Of Zero Mass Private Limited

BLS E- Services Private Limited (BLS) acquired close to 90 per cent equity shares of Zero Mass Pvt Ltd (ZMPL) for a total consideration of Rs 106.44 crore, including the entire stake of 63.94 per cent held by the main promoter Anurag Gupta. Dua Associates' team led by Partner, Prateek Bedi and Senior Advisor, Sunil Malik along with Nityashjit Kaur, Principal Associate and Varun Mathur, Senior Associate advised in the documentation for the transaction and assisted in closing the...

NCLAT Upheld The Ruling Of NCLT-Mumbai, Admitting The Realty Developer, M/S Satra Properties (India) Limited In To Corporate Insolvency Resolution Process

The National Company Law Appellate Tribunal ("NCLAT"), Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava (Member Technical) and Ms. Shreesha Merla (Member Technical) while dismissing the Appeal filed by Mr. Praful Nanji Satra vs Vistra ITCL (India) Limited and Ors, had upheld the Adjudicating Authority's order for initiating corporate insolvency resolutions process against Satra Properties and sends the company in to insolvency. Background The Appellant's...

Luthra And Luthra Bolsters Its Partnership With Two New Stalwarts

New Delhi, 17th August 2022: Sarika Raichur and Abhimanyu Kampani have joined the Delhi office as partners in the corporate and litigation practice, respectively, at Luthra and Luthra Law Offices India. In her early years of legal practice, Sarika worked with Khaitan & Co at its Mumbai office, besides being an inhouse legal counsel at ADM Capital. She went on to become a member of the India Practice Group of Noerr LLP at its London office. After her return to India, she co-founded...