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NCLT Bengaluru Reserves Order On Riju Ravindran's Plea Against Glas Trust's Aakash Right Issue Funding Plan
The National Company Law Tribunal (NCLT), Bengaluru, on Wednesday reserved its order on an interim plea sought by Riju Ravindran, former promoter of Think and Learn Pvt Ltd (Byju's), challenging the Committee of Creditors' (CoC) approval of a Compulsorily Convertible Debenture (CCD) structure proposed by Glas Trust to fund TLPL's participation in Aakash Educational Services Ltd's (AESL)...
Use Of Word 'Determined' In SCN Shows Pre-Determination; S.74 Invocation Unsustainable: Madras High Court Quashes GST Demand
The Madras High Court has held that using the word 'Determined' in the show cause notice (SCN) betrays an element of pre-determination on the part of the authority. The bench highlighted that the show cause notice must clearly specify whether the assessee is being charged with fraud, suppression or wilful misstatement to invoke section 74 of the Tamil Nadu Goods and Services...
Kerala High Court Directs Election Commission To Take Action Against Unauthorized Flags, Banners In Wake Of Upcoming Election
The Kerala High Court on Wednesday (November 19) directed the State Election Commission (SEC) and the District Election Officers to monitor and to take action against unauthorized installation of banners, boards and flags put up by political parties in the State.Justice Devan Ramachandran passed the direction while dealing with a review in a plea against illegal and unauthorized flags...
Karnataka High Court Directs State To Implement Rule On Speed Limit, Helmet And Safety Harness For Children Riding Pillion
The Karnataka High Court on Wednesday directed the State to take immediate steps for implementation of Rule 138 (7) of Central Motor Vehicle (Second Amendment) Rules 2022, which prescribes maximum speed limit for two-wheelers when children ride pillion. The Rule also mandates helmet and safety harness for kids.A division bench of Chief Justice Vibhu Bakhru and Justice C M...
Order Refusing To Terminate Arbitration Is Not An Interim Award: Bombay High Court Dismisses Challenge U/S 34 A&C Act
The Bombay High Court dismissed a petition under section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) challenging an order passed by the Arbitral Tribunal by which it had refused to terminate the ongoing proceedings holding that the order was merely a prima facie view, interlocutory one and not an arbitral award capable of being challenged. Justice...
Delhi High Court Quashes VAT Assessment Orders Passed By Audit Officer Citing Lack Of Jurisdiction
The Delhi High Court has quashed a batch of VAT assessment orders issued by VAT Audit Officer, stating that the authority did not have necessary delegation to carry out assessments.Form DVAT-50 enables the VAT Commissioner to authorize officials for carrying out audit, investigation and enforcement functions under Delhi Value Added Tax Act and Rules.However, a division bench of Justices...
Assignment Of Decree For Specific Performance Of Agreement To Sell Doesn't Require Registration : Supreme Court
The Supreme Court on Wednesday (November 19) held that a decree for specific performance of an agreement to sell can be validly assigned without registration, emphasising that such decrees do not themselves create any proprietary interest that would trigger the requirement of compulsory registration. “when the decree itself which is for specific performance does not create or purport to...
Supplementary Complaint Under PMLA Doesn't Require Fresh Cognizance: Madras High Court
The Madras High Court recently observed that a supplementary complaint under Section 44 of the Prevention of Money Laundering Act is not a fresh or independent complaint requiring the court to take cognisance. The bench of Justice SM Subramaniam and Justice Mohammed Shaffiq held that a supplementary complaint is a part and parcel of the main complaint for which cognisance has already...
'Why Not Ask CBI To Investigate?' : Supreme Court Asks Haryana Police In Case Where Advocate Was Arrested
The Supreme Court on Wednesday asked the State of Haryana why the murder case in which an advocate was arrested should not be transferred to the Central Bureau of Investigation.The bench comprising Chief Justice of India BR Gavai and Justice K Vinod Chandran was hearing a writ petition filed by Advocate Vikram Singh challenging his arrest and remand in the case. The advocate alleged that he...
Education Should Not Merely Be Perceived As Commercial Venture, Must Remain Noble Service: Madras High Court
The Madras High Court recently ruled against colleges charging additional tuition fees in the name of a break fee/miscellaneous fee. The court also directed the Chettinad Academy of Research and Education (CARE) University to refund the deposit made by the students with interest of 6% per annum. While doing so, Justice GK Ilanthiraiyan remarked that education must not be merely viewed as...
Re-enactment Of Struck Down Provisions Shows Form Of Administration Is Inconsistent With Spirit Of Constitution : Supreme Court On Tribunal Reforms Act
While striking down the Tribunal Reforms Act, 2021, the Supreme Court made a scathing criticism of the re-enactment of the very same provisions, which were earlier struck down by the Court. This, the Court said, showed that the "form of the administration” was inconsistent with the spirit of the Constitution.The judgment authored by Chief Justice of India BR Gavai referred to the famous...