SAT Sets Aside Order Allowing Chanda Kochhar Access To ICICI Bank's Internal Portal In Videocon Case
The Securities Appellate Tribunal has set aside its earlier direction permitting former ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar to inspect the Bank's Secretarial Portal and access electronic data stored on its servers and devices in connection with the ICICI Bank-Videocon Group matter
Popular Finance Scam: NCLT Kochi Orders Winding Up Of 14 Group Entities
The National Company Law Tribunal at Kochi on Tuesday ordered the winding up of several companies and limited liability partnerships forming part of the Popular Finance Group in winding up proceedings initiated by the Union of India through the Serious Fraud Investigation Office (SFIO).
Arbitration Clause Requiring Fresh Mutual Consent Is Not Binding: Karnataka High Court
The Karnataka High Court has refused to appoint an arbitrator in a dispute between Riemen Solution Private Limited and Swiggy Limited, holding that a contractual clause making arbitration conditional on fresh mutual consent does not constitute a binding arbitration agreement. “The Court can neither delete these words from the Agreement, nor rewrite the bargain between the parties by converting a conditional reference to arbitration into an unconditional one,” Justice H T Narendra Prasad held while dismissing Riemen's petition
Delhi High Court Bars Fake Medical Videos Using Dr Devi Shetty's Persona, Flags Public Health Risk
The Delhi High Court has permanently restrained social media pages and YouTube channels from using cardiac surgeon Dr Devi Prasad Shetty's identity to promote false medical claims, observing that such videos could harm not just his reputation but also members of the public who might act on the claims.
Delhi High Court Protects Actor Vijay Deverakonda's Personality Rights Against AI Deepfakes
The Delhi High Court has granted Telugu actor Vijay Sai Deverakonda an ex parte ad interim injunction against the unauthorised use of his name, image, voice, and other identifiable attributes, including through AI-generated content and deepfakes. Justice Vikas Mahajan ordered 94 listed links taken down and domains locked, and directed the government to have the sites blocked
NCLT Mumbai Suspends One Court Due To Vacancies, Redistributes Pending Cases
The National Company Law Tribunal (NCLT) has suspended the functioning of Court No. VI at its Mumbai Bench from October 13 until further orders, citing vacancies in Member posts. Pending cases will be redistributed among the bench's five other courts
ED Moves Supreme Court Against Order Quashing FIR, ED Case Against NewsClick, Prabir Purkayastha
The Enforcement Directorate (ED) has moved the Supreme Court challenging the Delhi High Court's decision to quash the FIR against digital news platform NewsClick and its founder, Prabir Purkayastha. The High Court had also quashed the money laundering proceedings arising from allegations of irregularities in foreign funding. The special leave petition filed by ED on October 8 is yet to be listed before the Supreme Court.
Tax Classification Depends On Form Of Goods At Sale, Not End Use: Supreme Court
The Supreme Court has held that a product must be classified for tax purposes in the form in which it is sold, rather than on the basis of what a consumer may later turn it into. “The tax authorities are bound to look at what is supplied and not at what is the 'end use' of the good,” a Bench of Justice Manmohan and Justice Arun Palli observed while dismissing the Madhya Pradesh Commercial Tax Department's appeals over the classification of Cadila Health Care Ltd.'s 'GRD Powder' and 'GRD Mix'.
The Kerala High Court has held that a supplier's statutory obligation to pay Goods and Services Tax (GST) does not automatically entitle the supplier to recover the tax separately from the recipient of the service. “The liability of a supplier to discharge the tax payable under the statute and the question as to whether the supplier is entitled to pass on the burden of such tax to the recipient are distinct and separate matters," the court ruled
Going-Concern Sale Commences With Liquidation Order, Not Auction Notice: NCLAT
The National Company Law Appellate Tribunal (NCLAT), Delhi, has held that liquidation by sale of a corporate debtor as a going concern commences from the date of the liquidation order when the order directs the liquidator to pursue that mode of sale. The process does not begin only when an auction notice is issued.