Supreme Court Refuses Anil Ambani's Plea To Restore Stay On Banks' Fraud Classification Proceedings

The Supreme Court on Thursday refused to interfere with a Bombay High Court Division Bench order that vacated the stay granted by a single judge in fraud classification proceedings against Anil Ambani involving Bank of Baroda and other banks. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M. Pancholi declined to grant relief, effectively allowing the High Court's order to stand.The court, however, clarified that the observations made by the High Court would not...

Supreme Court Says Article 142 Cannot Be Invoked To Cure Illegalities In Jaipur Udyog Rehabilitation Efforts

The Supreme Court on Wednesday refused to invoke its powers under Article 142 of the Constitution, which allows it to pass orders to do complete justice, to condone illegalities in a long-running dispute involving defunct Jaipur Udyog Ltd. (JUL), directing disbursal of workers' dues estimated at over Rs. 100 crore and appointment of an administrator to oversee the process. Separately, the court directed the deposit of Rs 51 crore realised from the sale of the Kanpur unit for utilisation...

Supreme Court Terms Delhi HC View "Paradoxical," Says Rockland Promoters Can't Defer Consent Award Liability Till Final Appeal

The Supreme Court on Monday held that obligations undertaken by promoters of Rockland Hospitals (now Medeor Hospitals) under a consent arbitral award are immediately enforceable and cannot be deferred until confirmation by the highest court of appeal. Setting aside the Delhi High Court's judgment, the Court termed its interpretation “paradoxical” for deferring the promoters' liability until confirmation by the 'Highest Court of Appeal'. A Bench of Justices S.V.N. Bhatti and Prasanna B. Varale...

Calcutta HC Questions GST Officer's Demand For Personal Appearance When Law Allows Representation Through Counsel

The Calcutta High Court said GST authorities had no basis to insist that a Kanpur-based proprietor appear in person in proceedings over the detention of goods supplied to Maa Kali Traders, especially when the law allows representation through an authorised representative. In an order dated April 7, 2026, Justice Kausik Chanda disposed of a writ petition arising from the detention of a consignment of pan masala and the vehicle carrying it, which had been intercepted while in transit. The Court...

Courts Can Refuse To Appoint Arbitrator In Rare Cases Where No Arbitration Agreement Exists: Supreme Court

The Supreme Court on Thursday held that courts may refuse to refer parties to arbitration at the Section 11 stage in the rarest of rare cases where, even on a prima facie view, no arbitration agreement exists, carving out a narrow exception to the principle of minimal judicial interference. Clarifying that judicial scrutiny at the stage of appointing arbitrators is otherwise limited to examining the prima facie existence of an arbitration agreement and that courts should follow the principle of...

Multi-State Co-Operative Societies Can Bid In CIRP Only If Bye-Laws Allow, Is In Same Line Of Business: Supreme Court

The Supreme Court on Thursday held that a multi-state co-operative society cannot submit a resolution plan under the Insolvency and Bankruptcy Code unless the investment is permitted by its bye-laws and falls either in a subsidiary institution or in the “same line of business”. The court clarified that under Section 64(d) of the Multi-State Co-operative Societies Act, 2002, an MSCS can invest its funds only in a subsidiary institution or in an entity engaged in the same line of business, and...

Supreme Court Refuses To Interfere With Delhi HC Ruling On Deletion Of FTS/FIS Additions On Coursera

The Supreme Court has recently refused to interfere with the Delhi High Court ruling holding that receipts earned by Coursera Inc. from providing access to its online learning platform are not taxable as Fees for Technical Services (FTS) or Fees for Included Services (FIS) under the Income Tax Act and the India–USA DTAA. A Bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe said it was not inclined to interfere with the impugned judgment of the Delhi High Court and dismissed...

RCIL Insolvency: Bank Of Baroda Moves Supreme Court Against NCLAT Ruling On ₹195 Crore Reliance Bhutan Loan

Bank of Baroda has approached the Supreme Court in the insolvency of Reliance Communications Infrastructure Ltd (RCIL), questioning an NCLAT ruling that lenders cannot revisit a resolution plan after it has been approved. The dispute centers on a Rs 195 crore Reliance Bhutan Loan and how it is to be distributed among creditors. At the heart of the case is a decision taken by the Committee of Creditors (CoC) to reallocate this loan in favour of dissenting financial creditors. Bank of Baroda had...

Borrowers Entitled To Audit Reports Before Fraud Classification, No Right To Full Disclosure: Supreme Court

The Supreme Court on Monday ruled that borrowers must be given access to the material relied upon by banks, including relevant portions of forensic audit reports, before their loan accounts are classified as fraud but clarified that such disclosure is not absolute and may be restricted where it affects third-party rights. Holding that principles of natural justice require a meaningful opportunity to respond, a bench of Justices J.B. Pardiwala and K.V. Viswanathan said that where banks rely on...

Adjudicating Authority Abdicated Appellate Powers, Supreme Court Sets Aside FEMA Order Passed Pending Appeal

The Supreme Court has set aside a Madras High Court judgment and a final adjudication order under the Foreign Exchange Management Act, holding that the Adjudicating Authority acted improperly by effectively overriding an order refusing to confirm seizure while that order was under appeal. A Bench of Justices Vikram Nath and Sandeep Mehta observed, “In effect, the Adjudicating Authority has undone the order of the Competent Authority even while the appeal against the said order is pending. Such...

Satinder Singh Bhasin Could Not Use IBC Limitation To Shield ₹50 Crore Bail Deposit From BIIPL: Supreme Court

The Supreme Court on Thursday, while considering pleas seeking cancellation of bail granted to Satinder Singh Bhasin, rejected his contention that the Interim Resolution Professional (IRP) of Bhasin Infotech and Infrastructure Pvt. Ltd. (BIIPL), of which he is a director, could not question the Rs.50 crore deposited as a bail condition due to the two-year look-back period under the Insolvency and Bankruptcy Code.It found that the amount that had been deposited for securing the bail was sourced...

'Company Cannot Fund Director's Bail Under Companies Act': Supreme Court Cancels BIIPL Director's Bail

The Supreme Court on Thursday held that a company cannot grant a loan to its director without special resolution of shareholders and where it is not for its business purposes and cancelled the bail of Satinder Singh Bhasin after finding that the Rs. 50 crore deposit was arranged using company funds in violation of the Companies Act. Bhasin, director of Bhasin Infotech and Infrastructure Pvt Ltd (BIIPL), had been granted bail on November 6, 2019 in connection with multiple FIRs arising out of...