Supreme Court
High Court's Interference Under Article 226/227 Permissible Only If Arbitral Tribunal's Order Is Patently Perverse : Supreme Court
The Supreme Court today criticized the High Court's intervention under its Writ Jurisdiction in the Arbitral Proceedings, where it had directed the Arbitral Tribunal to grant additional time for one party to cross-examine another, despite the Tribunal already having provided ample time for cross-examination.Setting aside the High Court's decision, the bench comprising Justices PS Narasimha and Manoj Misra observed that the High Court can interfere with the impugned order under its Writ...
Tax Law : Important Judgments By Supreme Court In 2024
As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with Tax Law. The same are as follows:1. Hiring Of Motor Vehicle Or Cranes Is Not 'Sale Of Goods' If Control Over Equipment Is Retained By Contractor, VAT Can't Be Levied: Supreme CourtCase: M/s. K.P. Mozika v Oil and Natural Gas Corporation Ltd. & Ors. [2024 LiveLaw (SC) 26]In this case, a bench of Justice Abhay S Oka and Justice Rajesh Bindal held that...
Arbitration Act: Important Judgments By Supreme Court In 2024
As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Arbitration and Conciliation Act, 1996. The same are as follows:1. Arbitral Awards Cannot Be Modified Under Sections 34 & 37 Of Arbitration & Conciliation Act : Supreme CourtCase: S.V. Samudram v. State of Karnataka [2024 LiveLaw (SC) 14]In this case, a bench of Justices Abhay S Oka and Sanjay Karol reiterated that any attempt to “modify an...
IBC | Moratorium Does Not Extinguish Claim : Supreme Court
The Supreme Court has held that a moratorium declared under Section 14 of the Insolvency and Bankruptcy Code, 2016 will not extinguish a claim. The Court stated that Section 14 bars the institution/continuation of legal proceedings against the corporate debtor, transfer of assets, enforcement of security interest etc."If the argument that the claims of all the creditors of the Corporate Debtor are extinguished once the moratorium comes into force is accepted, no creditor would be able to file a...
IBC | Financial Creditor Can Submit Claim Even If There Is No Default Of Debt : Supreme Court
The Supreme Court has observed a default is not necessary for a debt to become a financial debt under the Insolvency and Bankruptcy Code, 2016. A bench comprising Justice Abhay S Oka and Justice Augustine George Masih held that under Section 5(7) of the IBC, any person to whom financial debt is owed becomes a Financial Creditor even if there is no default in payment of debt. "Therefore, for submitting the claim by a Financial Creditor, there is no requirement of actual default," the Court...
'Contrary To Statute' : Supreme Court Pulls Up ED For Arguing That Stringent PMLA Bail Rigours Will Apply To Women
The Supreme Court on Thursday (December 19) pulled up the counsel representing the Enforcement Directorate (ED) for contending that rigorous bail conditions under the Prevention of Money Laundering Act (PMLA) will apply to women.A bench of Justice Abhay Oka and Justice Augustine George Masih was hearing a petition challenging the denial of bail to woman accused of money laundering.“If submissions are going to be made by Union of India contrary to express statute, we will ask Attorney General to...
Summons Under PMLA Can't Be Quashed Merely Because Accused Was Discharged In Predicate Offence : Supreme Court
The Supreme Court yesterday (December 19) set aside an order of the Gauhati High Court which quashed summons under the Prevention of Money Laundering Act, 2002, (PMLA) to investigate proceeds of crime involved money laundering on grounds that the Respondent was discharged in scheduled offence (offences related to property in this case). A bench of Justices MM Sundresh and Aravind Kumar was hearing a challenge to the judgment of the Gauhati High Court dated January 3, whereby the summons...
Coconut Oil Classifiable As 'Edible Oil' For Central Excise Tariff; If Sold As Cosmetic, Taxable As 'Hair Oil' : Supreme Court
The Supreme Court has held that pure coconut oil, packaged and sold in small quantities ranging from 5 ml to 2 litres, would be classifiable as 'Edible oil' for the purposes of the Central Excise Tariff Act, 1985. It will be classifiable as "hair oil" if it is packaged and sold as a cosmetic."we are of the opinion that pure coconut oil sold in small quantities as 'edible oil' would be classifiable under Heading 1513 in Section III-Chapter 15 of the First Schedule to the Central Excise Tariff...
S. 33 Arbitration Act | Clarification On Award Can Be Issued Even After Arbitral Tribunal Becomes Functus Officio : Supreme Court
The Supreme Court observed that although the Arbitral Tribunal becomes functus officio after passing an award, it would still retain the limited jurisdiction to clarify or correct errors in an award under Section 33 of the Arbitration and Conciliation Act, 1996 (Arbitration Act). The bench comprising Justices Abhay S. Oka and Ujjal Bhuyan dismissed the appeal filed against the Delhi High Court's decision allowing the respondent to seek clarification from the Arbitral Tribunal about whether...
Arbitration Can't Be 'Optional' When Agreement Provides Arbitration Clause : Supreme Court
The Supreme Court held that there cannot be an 'optional' arbitration, where parties are required to mutually agree to invoke the arbitration clause.Setting aside the MP High Court's decision, the Court said that there is nothing like 'optional arbitration' that could be invoked after both parties mutually agree to invoke the arbitration clause. According to the Court, arbitration is not 'optional' in practice.“In our view, it cannot be said that the arbitration clause is optional in the sense...
Disputes Falling Exclusively Within Jurisdiction Of Statutory Authorities Aren't Arbitrable : Supreme Court Reiterates
The Supreme Court recently reaffirmed that disputes falling exclusively within the jurisdiction of statutory authorities are not arbitrable.While holding so, the bench comprising Justices PS Narasimha and Sandeep Mehta ruled that the dispute related to wages and termination of an employee were non-arbitrable and would be exclusively dealt with by the statutory authorities established under the Payment of Wages Act, 1936 (“PW Act”) and the Industrial Disputes Act, 1947 (“ID Act”). “Insofar as...
ED Can Instruct Prosecutors On Facts, But Cannot Instruct How Prosecutors Should Act In Court: Supreme Court
The Supreme Court on Wednesday (December 11) held that while the Enforcement Directorate (ED) and its director can give instructions related to facts of a case to prosecutors, they cannot dictate the prosecutors' actions in court.“We may also note here that the Enforcement Directorate and its Director can give instructions to public prosecutors on facts of the case. However, the Enforcement Directorate or its Director cannot give any instructions to the public prosecutor about what he ought to...