LiveLawBiz: Corporate Legal News Daily Round-Up: May 15, 2026

Adani Green Bribery Case: Gautam Adani and Sagar Adani Agree To Pay $18 Million To Settle US SEC Proceedings

SEBI Expands Permitted End-Use Of InvIT Borrowings Where Net Borrowings Exceed 49% of Asset Value

AIFs Without Funds Or Schemes Must File 'NIL' Quarterly Reports; SEBI Cancels Two Registrations

SAT Mumbai Rules Tax Refund Claim Outside Its Jurisdiction, Partly Allows “Pandya Ka Funda” Review

TAX

States Cannot Levy Local VAT On Inter-State Sales Even If Sale Is Deemed To Occur Within The State: Supreme Court

Mumbai CESTAT Quashes Customs Demands On SOL Mobiles, Says Phone Activation Is “Configuration”, Not “Use”

ITAT Mumbai Says Section 43CA Does Not Cover Pre-Enactment Bookings, Grants Relief To Lodha Developers

Income Tax Dept. Releases ITR-1, ITR-4 Utilities 45 Days After Court Indicated April 1 Timeline

COMPANY LAW

MP High Court Sends Bharat Commerce Asset Sale Dispute Back To Company Court To Consider Post-Auction Higher Bid

Time Awaiting MCA Nod Cannot Extend Limitation For Companies Act Prosecution Where Law Mandates No Sanction: MP High Court

IBC

NCLT Mumbai Admits Homebuyers' Insolvency Plea Against Developers Of Stalled Avenue 54 Project

NCLT Mumbai Allows Loyal Auto Globe Liquidator To Seek Release Of MPID-Attached Properties

NCLT Ahmedabad Approves ₹29 Crore Resolution Plan for Amul Industries, Rejects Workmen's Objections

Periyar Agro's ₹14.3 Crore Stock Could Not Have 'Vanished Like Water'; NCLT Kochi Orders Directors To Pay ₹38 Crore

NCLAT Rejects Venugopal Dhoot's Bid To Include Videocon Foreign Oil Assets In VIL CIRP

NCLT Kochi Rejects Bid To Claw Back Periyar Agro's Alleged 'Gift' Transfers To Suspended Directors

IPR

Calcutta High Court Upholds Rejection Of Suit For Skipping Mediation Under Commercial Courts Act

Delhi High Court Imposes ₹2 Lakh Cost On Dior, Dismisses 'Poison Pot' Trademark Suit

ARBITRATION

Earlier Arbitration Clause Binds Developer, Society Members As Redevelopment Agreements Adopted All Terms: Supreme Court

Bombay High Court Holds Arbitral Tribunal Cannot Rewrite EPC Contract Or Shift Contractual Risk

High Court Cannot Reopen Arbitration Maintainability In Award Challenge After Final Reference-Stage Ruling: Supreme Court

Order To Proceed Ex Parte In Arbitration Is Procedural, Not Challengeable Under Section 34: Delhi High Court

Delhi High Court Refers PhysicsWallah Lease Dispute To Arbitration Despite 'Inelegantly Drafted' Clause

RERA

Completion Certificate Does Not Absolve Developer Of Providing Functional Promised Amenities: Bihar RERA

DEBT RECOVERY LAWS

Telangana HC Upholds Sale of Mortgaged Property, Says 30-Day SARFAESI Notice Period Runs From First Valid Service

Section 138 Case Not Maintainable Against Director Once Liquidator Takes Control: Delhi High Court

PMLA

Delhi High Court Quashes Summons Against Compact Capital, Kalptaru Fincap In ₹539.37 Crore Sunstar PMLA Case

Supreme Court Refuses To Interfere In Delhi HC Order Quashing NBWs Against Engineer.ai Founder