Bombay High Court Sets Aside Order Rejecting Naresh Goyal's Objections In Income Tax Reassessment

The Bombay High Court has recently set aside an order rejecting former Jet Airways chairman Naresh Goyal's objections to the reopening of his income tax assessment for the Assessment Year 2014-15. It directed the Assessing Officer to reconsider the objections after taking into account Goyal's March 8, 2022 letter and the annexures explaining the source of funds used to acquire Jet Airways (India) Ltd. shares. A division bench of Justice B.P. Colabawalla and Justice Firdosh P. Pooniwalla held...

Calcutta High Court Upholds Arbitral Award Against Neo Metaliks In Lam Coke Supply Contract Dispute

The Calcutta High Court has upheld an arbitral award in favour of Orissa Metaliks Pvt Ltd, dismissing Neo Metaliks Ltd's appeal arising from a dispute over a Lam Coke supply contract. The court found no perversity or patent illegality in either the arbitral award or the earlier judgment refusing to set it aside. A Division Bench of Justices Debangsu Basak and Md. Shabbar Rashidi upheld the arbitral award and affirmed the Single Judge's judgment of January 6, 2025. The Court said that the...

Suit Filed During IBC Interim Moratorium Attracts Rejection Of Plaint Provision Under CPC: Calcutta High Court

The Calcutta High Court has held that a court cannot entertain a suit instituted during the operation of an interim moratorium under the Insolvency and Bankruptcy Code where the statutory bar applies. It ruled that once the embargo is brought to the court's notice, the court must act in accordance with the law. Where the statutory conditions are met, the plaint must be rejected. A division bench of Justice Debangsu Basak and Justice Md. Shabbar Rashidi set aside a February 5, 2026 judgment of...

Pending Civil Suits Cannot Be Dismissed Merely Because Insolvency Proceedings Begin Later: Calcutta High Court

The Calcutta High Court has recently held that a civil suit filed before insolvency proceedings are initiated cannot be dismissed merely because proceedings under the Insolvency and Bankruptcy Code (IBC) begin later. It observed that the law protects the insolvency process from interference but does not automatically bar civil courts from hearing pending suits. A division bench of Justice Debangsu Basak and Justice Md. Shabbar Rashidi delivered the ruling while setting aside a commercial...

Calcutta High Court Quashes SBI Fraud Classification Show Cause Notice Against Pincon Spirit Director

The Calcutta High Court has recently quashed the State Bank of India's December 2, 2025 show cause notice proposing to classify the loan account of Pincon Spirit Ltd. as fraud and proceed against its director, Monoranjan Roy. The court held that the notice was founded on an inconclusive forensic audit that had been conducted without access to the company's complete financial records. Justice Krishna Rao observed that the forensic auditor did not have the borrower's books and records while...

Calcutta High Court Quashes Property Tax Hike Based On Undisclosed Policy, Says It Lacks Statutory Basis

The Calcutta High Court on 15 June held that municipal authorities cannot enhance property tax liability through undisclosed administrative policies lacking statutory backing, and set aside the enhancement of annual valuation imposed on Popat and Kotecha Property along with consequential tax demands. Justice Rai Chattopadhyay observed that fiscal measures must rest on clear statutory authority and cannot be justified through internal administrative arrangements. He said: “The respondent has...

No Statutory Limit On Amending Pleadings Before Trial In Commercial Suits: Calcutta High Court

The Calcutta High Court has recently held that litigants in commercial suits are free to seek amendment of their pleadings at any stage before commencement of trial. There is no statutory limit on the number of amendment applications, provided the proposed amendments are otherwise permissible in law. Justice Aniruddha Roy delivered the ruling while allowing an application filed by Mackintosh Burn and Northern Express Consortium and another to amend their written statement in a commercial suit...

Market Value Determines Specified Value In Commercial Property Disputes: Calcutta High Court

The Calcutta High Court on 22 June held that in commercial disputes arising from construction and infrastructure contracts involving immovable property, the “specified value” under the Commercial Courts Act must be determined solely on the market value of the property. A Division Bench of Justices Sabyasachi Bhattacharyya and Supratim Bhattacharya clarified that valuation cannot depend on the nature of the relief claimed in the suit and dismissed appeals filed by landowners against developer...

Expeditious Arbitration Alone Does Not Establish Arbitral Award Was Procured By Fraud: Calcutta High Court

The Calcutta High Court recently held that the mere expeditious conclusion of arbitral proceedings, by itself, does not establish fraud vitiating an award. Fraud must be demonstrated through cogent attending circumstances and cannot be inferred from speed alone. The bench of Justices Debangsu Basak and Shabbar Rashidi set aside an order passed by the executing court in an award arising from a sale dispute, holding that no case of fraud had been made out. The court held, “Simplicitor on the...

Calcutta High Court Upholds Rejection of German Research Organisation's Patent For Biomass Growth Method

The Calcutta High Court has dismissed an appeal filed by German research organisation Fraunhofer Gesellschaft against the rejection of its patent application for a method of stimulating biomass growth in a bioreactor. It held that the invention's specification was excessively broad and failed to sufficiently disclose how the invention could be performed. The court also found that the application did not disclose the source and geographical origin of the biological material used in the...

Calcutta High Court Upholds Setting Aside of ₹19.68 Crore Arbitral Award Against SAIL Over Demurrage Claim

The Calcutta High Court has recently dismissed an appeal filed by Vizag Seaport Private Limited (VSPL) and upheld an earlier order setting aside a majority arbitral award. The award had directed the Steel Authority of India Ltd. (SAIL) to pay nearly ₹19.68 crore towards claimed demurrage and storage charges. The court held that the parties' Short Term Agreement (STA) did not provide for such charges. It also held that VSPL had waived its right to claim them by not seeking to include such a...

Calcutta High Court Grants Interim Protection To Srei Equipment Finance Over Unsecured ₹273.48 Crore Loan

The Calcutta High Court has granted interim protection to Srei Equipment Finance Ltd in a dispute over a loan extended to Bengal Shristi Infrastructure Development Ltd for the Shristi Nagar Project. The court held that the lender had established a prima facie case because the loan remained unsecured to the extent that the mortgage contemplated under the financing documents had not been created. A division bench of Justices Debangsu Basak and Md. Shabbar Rashidi directed Bengal Shristi to...