Kerala High Court Issues Notice To SEBI On Plea Alleging Financial Irregularities Against Kitex Group

The Kerala High Court on Saturday issued notice to the Securities and Exchange Board of India (SEBI) on a petition by a Kitex Garments Limited shareholder seeking consideration of his complaint alleging irregularities in the company's financial and related-party transactions.The court also issued notice to Kitex Garments Limited (KGL) and Kitex Childrenswear Limited (KCL), which have been named as respondents in the petition.Justice Bechu Kurian Thomas issued the notice. SEBI's counsel sought...

Delhi High Court Restrains Doora Express Services' Former General Manager From Using 'DURA' Mark

The Delhi High Court has restrained a former General Manager and his logistics company from using “DURA” for logistics and transportation services. The court found prima facie merit in Doora Express Services' claim that the mark is similar to its registered “DOORA” trademarks.Justice A.J. Bhambhani passed the order in a suit filed by Doora Express Services against Dura Logistics India and its director.Doora Express Services is the registered proprietor of the trademarks "DOORA," "DOORA EXPRESS...

CGST Act Permits Tax Liability To Be Determined After Death Of Person: Delhi High Court

The Delhi High Court has held that the Central Goods and Services Tax (CGST) Act permits tax, interest, or penalty liability to be determined even after the death of the person against whom the underlying liability arises.The Division Bench of Justices Anil Kshetarpal and Vimal Kumar Yadav held that Section 93 of the CGST Act does not require adjudicatory proceedings to have commenced during the lifetime of the deceased for liability to be determined after his death.“The provision preserves...

Delhi High Court Upholds ₹10.57 Crore GST Demand, Says Parallel Proceedings Barred Only For Same Subject Matter

The Delhi High Court has dismissed a plea challenging the ₹10.57 crore GST demand, holding that the subsequent proceedings initiated by the Delhi GST authorities were not barred merely because the Directorate General of GST Intelligence (DGGI) had earlier initiated proceedings against the Petitioner concerning overlapping transactions.The Division Bench of Justices Anil Kshetarpal and Rajneesh Kumar Gupta held that Section 6(2)(b) of the Central Goods and Services Tax Act, 2017, which seeks to...

Supreme Court Refers Kinetic Green-Saera Exclusivity Dispute Over Vehicle Manufacturing To Arbitration

The Supreme Court on Thursday referred to arbitration as a dispute between Kinetic Green Energy and Power Solutions Limited and Saera Electric Auto Limited over contractual exclusivity and non-compete obligations.A Division Bench comprising Justice Aravind Kumar and Justice Vipul M. Pancholi appointed former Supreme Court judge Justice R.V. Raveendran as the sole arbitrator.“Having heard the learned counsels appearing for the parties, we are of the opinion that the constitution of an Arbitral...

“Very Dangerous Proposition”: Delhi HC On AAR View Treating Mastercard's Interface Processor In India As Permanent Establishment

The Delhi High Court on Friday orally observed that treating a network or towers as a permanent establishment (PE) of a foreign enterprise could be a “very dangerous proposition," warning that such an approach could be misused across jurisdictions.“AAR's view that towers and network itself constitute a PE is a very dangerous proposition ... it can be misused anywhere,” a Division Bench comprising Justice Dinesh Mehta and Justice Aditi Choudhary observed while hearing afresh Mastercard Asia...

Appointing Arbitrator Unilaterally Does Not Amount To Waiving Ineligibility: Delhi High Court

The Delhi High Court has held that a party's unilateral appointment of an arbitrator cannot by itself amount to an express waiver of the arbitrator's statutory ineligibility under Section 12(5) of the Arbitration and Conciliation Act, 1996.A Division Bench of Justice Anil Kshetarpal and Justice Vimal Kumar Yadav upheld the setting aside of an arbitral award partly in favour of Ahluwalia Contracts (India) Limited (ACIL), despite the Airports Authority of India (AAI) having appointed the...

Delhi High Court Rejects Bank's Plea To Revive Cheque Case After Counsel Earlier Said Dues Were Fully Paid

The Delhi High Court has refused to revive a cheque dishonour complaint after Equitas Small Finance Bank Limited's counsel told a magistrate and the National Lok Adalat that the dispute had been settled and the bank had received full payment.The bank later claimed that its then counsel had misunderstood its instructions and erroneously represented that the dues had been settled and paid. It sought recall of the September 14, 2024 Lok Adalat award and restoration of the complaint.Justice Saurabh...

Pending Arbitration Does Not Bar Wilful Defaulter Proceedings Against Borrower: Calcutta High Court

On 23 September, the Calcutta High Court held that the pendency of arbitration proceedings cannot prevent a lender from issuing a show-cause notice to declare a borrower a wilful defaulter. Justice Krishna Rao dismissed Kitply Industries' writ petition challenging SREI Equipment Finance Ltd.'s (SEFL) show-cause notice alleging that it had disposed of assets securing its credit facility without the lender's approval. The Bench observed: “Pendency of the arbitration proceeding could not debar...

Punjab & Haryana High Court Sets Aside PCIT Order Rejecting Delay Condonation In HMT VRS Tax Claim

The Punjab & Haryana High Court on 23 September set aside the Principal Commissioner of Income Tax's (PCIT) rejection of an HMT Limited's employee's request to condone the delay in filing a revised return to claim an additional exemption on VRS compensation.A Division Bench of Justices Deepak Sibal and Sunish Bindlish held that delay in filing a revised income tax return cannot be treated as a standalone test while considering a request for condonation under CBDT Circular No. 9/2015. The...

Must Assets Seized Under The Income Tax Act Be Automatically Released After 120 Days? Gujarat HC Refers Issue To Larger Bench

The Gujarat High Court has referred to a Larger Bench the question of whether seized assets must be mandatorily released upon completion of 120 days under Section 132B of the Income Tax Act, where an application for release is filed within 30 days.A Division Bench of Justice A.S. Supehia and Justice Vaibhavi D. Nanavati referred three questions concerning the interpretation of the First and Second Provisos to Section 132B(1)(i).The questions are:“(1) Whether the release of seized assets is...

Taxpayer Can't Be Denied Sabka Vishwas Benefit Over Tax Quantification Sent To Bank: Bombay High Court

The Bombay High Court on 22 September held that a taxpayer cannot be denied the benefit of the Sabka Vishwas (Legacy Dispute Resolution) Scheme merely because the department quantified its service tax liability in a communication addressed to the taxpayer's bank rather than directly to the taxpayer. A Division Bench of Justices M.S. Karnik and Sandesh D. Patil allowed RG Studios' petition challenging the rejection of its declaration under the Scheme, under which the firm had declared service...