Mere Filing Of Company Petition In NCLT Does Not Bar Interim Relief Under Arbitration Act: Bombay High Court

The Bombay High Court has recently held that the mere filing of a company petition before the National Company Law Tribunal does not bar a shareholder from seeking interim relief under the Arbitration and Conciliation Act. This applies where the relief sought concerns rights arising from a Shareholders' Agreement containing an arbitration clause.Justice Amit Borkar, while partly allowing a petition filed by a 33% shareholder and Director of Farma Hub Overseas Pvt Ltd, rejected the objection...

Assessing Officer Can't Become An Economist To Question Expected Return In Share Valuation: Delhi High Court

The Delhi High Court has held that an Assessing Officer (AO) cannot act as an economist to determine the expected rate of return while examining a company's share valuation.The Division Bench of Justices Dinesh Mehta and Rajneesh Kumar Gupta added that while the AO may identify flaws in the valuation methodology adopted by a taxpayer, he cannot substitute the commercial assumptions underlying a recognized valuation method with his own.The Court made the observations while dismissing the Income...

Director Cannot Be Prosecuted For Company's GST Offence Without Arraigning It: Punjab & Haryana High Court

The Punjab and Haryana High Court has held that a director cannot be prosecuted for a company's GST offence without the company itself being arraigned as an accused. It quashed the criminal complaint against Manoj Bansal, a director of Nikita Industries Pvt. Ltd.Justice Shalini Singh Nagpal observed, “In the absence of M/s NIPL, being arraigned as an accused, the complaint against petitioner, a Director of the Company would not be maintainable. Unless the company is prosecuted, no vicarious...

Delhi High Court Orders Banks To De-freeze Provisional GST Attachments After 1 Year Unless Fresh Order Served

The Delhi High Court has directed all banks and financial institutions to de-freeze bank accounts provisionally attached under Section 83 of the Central Goods and Services Tax Act, 2017 (CGST Act), upon the expiry of one year from the date of attachment, unless a fresh attachment order is issued in accordance with law.The Division Bench of Justices Anil Kshetrapal and Shail Jain also directed the Reserve Bank of India (RBI) to issue a circular to all scheduled banks and financial institutions to...

Bombay High Court Sentences Insolvent To Jail For Concealing Bank Accounts, Rejects Limitation Defence

The Bombay High Court on 7 August held insolvent Pallav Sheth guilty of contempt under Section 33(4) of the Insolvency Act, 1909 for wilfully failing to disclose his assets and bank accounts to the Official Assignee, and sentenced him to one month's simple imprisonment with a fine of Rs. 2,000, with one week's further imprisonment in default. Justice N.J. Jamadar observed that an insolvent who makes positive statements on oath concealing assets and bank accounts cannot later invoke limitation...

Bombay High Court Says Judicial Machinery's Error Cannot Prejudice Litigant, Restores ₹2.04 Crore Suit

The Bombay High Court on 7 August held that a litigant cannot be made to suffer for an error attributable to the Court or its machinery and must be restored to the position it would have occupied had the error not occurred. A Division Bench of Justices Madhav J. Jamdar and Pravin S. Patil made the observation while restoring a Rs. 2.04 crore recovery suit filed by supplier and commission agent Jivaraj Ravaji Gandhi against Solapur Jilha Dudh Utpadak va Prakriya Sangh Maryadit, Solapur and...

Two Arbitration Places Can Both Be Seats If Parties Do Not Choose One: Madhya Pradesh High Court

The Madhya Pradesh High Court on 16 July held that where an arbitration agreement specifies two alternative places as the “place of arbitration” and the parties do not subsequently choose one, both places can operate as juridical seats of arbitration. Justice Vivek Jain accordingly referred the dispute between Idieal Multi Media Network Private Limited and newspaper publisher CMYK Printech Limited to arbitration and appointed former Calcutta High Court Chief Justice Sujoy Paul as the sole...

Punjab & Haryana HC Denies Bail In ₹5.44 Crore Roselyn Square Case, Says Allegations Go Beyond Delay

The Punjab and Haryana High Court on 16 July held that allegations of cheating, forgery, criminal breach of trust and conspiracy in connection with a real estate project go beyond a simple dispute over delayed possession or non-payment of assured returns. Justice Virinder Aggarwal dismissed the regular bail plea of Bhupinder Singla, Director of Robus Landcorp Pvt. Ltd., who was accused in the “Roselyn Square” commercial project case, noting that the investigating agency had collected prima...

Employment Disputes Not Commercial Disputes Under Commercial Courts Act: Delhi High Court

The Delhi High Court on 7 August 2026 clarified that disputes arising from employment contracts, including claims for salary arrears and increments, do not qualify as “commercial disputes” under Section 2(c) of the Commercial Courts Act, 2015, but held that a Commercial Court must return such a plaint instead of dismissing the suit. A Division Bench comprising Justices Prathiba M Singh and Vikas Mahajan upheld the finding that the dispute between Ram Lakhan Shukla and his employer was not a...

Delhi High Court Accepts Customs Apology For Failing To Video-Record Statement In Gold Seizure Case

The court, however, cautioned the Customs Department to be careful in future and comply with its directions scrupulously, as no directions can be taken lightly

Bombay High Court Allows $200,733 Claim Against Victore Ships, Says Voluntary Absence Won't Bar Enforcement

The Bombay High Court on 5 August held that a party cannot claim it was unable to present its case when it voluntarily chose not to participate in arbitration, and allowed enforcement of a USD 200,733.01 foreign arbitral award, along with interest and costs, in favour of Osterreichischer Llyod Seereederei against Victore Ships Private Limited. A Bench of Justice Arif S. Doctor held: “Section 48(1)(b) is intended to protect a party who, for reasons beyond its control, was genuinely unable to...

Monetary Claims Alone Do Not Bar Urgent Relief Exception To Pre-Institution Mediation: Bombay High Court

The Bombay High Court on August 5 ruled that seeking monetary relief along with specific performance, declarations, and injunctions does not, by itself, mean that a commercial suit is only about compensation. It also does not mean that the suit cannot genuinely require urgent interim relief, an exception to the requirement of pre-institution mediation under Section 12-A(1) of the Commercial Courts Act.“The fact that a plaintiff seeks consequential monetary reliefs, in addition to equitable and...