SEBI Imposes ₹29.15 Crore Penalty on Suzlon Energy, Directors, Officials Over Misleading Financial Disclosures

The Securities and Exchange Board of India (SEBI) has imposed penalties totalling ₹29.15 crore on Suzlon Energy Ltd. and two of its senior officials, two directors, after concluding that a series of intra-group transactions and financial disclosures created a misleading picture of the company's financial position. The order was passed by SEBI Whole Time Member Sandip Pradhan. The regulator found that Suzlon recognised gains from transactions involving the transfer of its operation and...

Supreme Court Refuses To Interfere With Arrest Of Ex-VVCMC Town Planning Officer In Money Laundering Case

The Supreme Court on Tuesday (May 26) refused to interfere with a Bombay High Court judgment that upheld the arrest of former Vasai-Virar City Municipal Corporation (VVCMC) Deputy Director of Town Planning Y. Shiva Reddy by the Enforcement Directorate. The case concerns alleged illegal constructions and corruption linked to development permissions in the Vasai-Virar area. A Bench of Justices Vikram Nath and Sandeep Mehta dismissed Reddy's special leave petition against the High Court's March...

Arbitration In India Has Not Failed, Courts Sometimes Have Failed Arbitration: Supreme Court

The Supreme Court on Friday remarked that “Arbitration in India has not failed; however, Courts sometimes have failed arbitration in India,” while dismissing Madhya Pradesh Road Development Corporation Ltd.'s (MPRDC) challenge to an arbitral award that had already survived multiple rounds of judicial scrutiny over nearly 12 years. A Bench of Justice J.K. Maheshwari and Justice Atul S. Chandurkar made the observation while refusing to interfere with an arbitral award in favour of Jabalpur...

Supreme Court Grants IT Dept. Liberty To File HC Appeal In Google Ireland ₹116 Crore Tax Dispute

The Supreme Court on Thursday declined to entertain the Income Tax Department's challenge to a Karnataka High Court judgment dated June 3, 2025, which had quashed assessment orders passed against Google Ireland for AYs 2009-10 and 2010-11.The Court held that the Revenue must first pursue the available intra-court appeal before the High Court. A Bench of Justices Aravind Kumar and Prasanna B. Varale dismissed the Revenue's Special Leave Petition, holding that an intra-court appeal against the...

CMRL Moves Division Bench Against Kerala HC Order Refusing To Quash ED Summons In Exalogic Case

An appeal has been filed before the Kerala High Court against a Single Judge's refusal to quash the Enforcement Directorate's money laundering probe linked to alleged payments of ₹1.72 crore made by Cochin Minerals and Rutile Limited (CMRL) to Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan, and her company, Exalogic Solutions Pvt Ltd. The appeal also challenges summons issued by the ED to CMRL officials. The appeal challenges Justice T.R. Ravi's May 26 judgment...

'Inelegantly Drafted': Supreme Court Lays Down Two-Part Framework For Establishing Fraud Under PFUTP Regulations

The Supreme Court on Friday held that the definition of fraud under Regulation 2(1)(c) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003, suffers from "inelegant legislative drafting." Adopting a purposive interpretation of the provision, laid down a two-part framework for establishing fraud. Observing that the definition of fraud under Regulation 2(1)(c) appears to treat both deceitful intention and proof of wrongful gain or avoidance of loss as non-essential...

Supreme Court Defreezes Accounts Of Trader Involved In CNBC Awaaz 'Pandya Ka Funda' Market Manipulation Case

The Supreme Court on Friday ordered the defreezing of the bank accounts of trader Alpesh Vasanji Furiya, who is accused by SEBI of trading on advance knowledge of stock recommendations aired by CNBC Awaaz anchor Pradeep Pandya on the programme 'Pandya Ka Funda'. The Court passed the order after noting that ₹8.39 crore had already been deposited towards the disgorgement amount. The Court also directed that the amount lying in an escrow account shall continue. It issued notice on Furiya's...

Supreme Court Issues Notice On Challenge To HC Order Quashing FIR Against HDFC Bank CEO Sashidhar Jagdishan

The Supreme Court on Friday issued notice in a challenge to the Bombay High Court's May 5, 2026, judgment quashing FIR against HDFC Bank Managing Director and Chief Executive Officer Sashidhar Jagdishan. The FIRs stemmed from allegations that Jagdishan colluded with certain former trustees of the Lilavati Kirtilal Mehta Medical Trust and allegedly received illegal payments of about Rs 2 Crore from trust funds. A Bench of Justices M.M. Sundresh and Nongmeikapam Kotiswar Singh remarked that it...

Delhi High Court To Pass Orders In Personality Rights Suit Filed By Actor Naga Chaitanya

The Delhi High Court on Thursday indicated that it is likely to pass orders in a personality rights suit filed by Telugu actor Akkineni Naga Chaitanya. The actor has sought protection against a range of alleged online violations, including pornographic websites using his name, unauthorized merchandise, AI-generated content featuring him and his former spouse, and YouTube videos he claims infringe his personality rights. The matter came up before Justice Jyoti Singh. During the hearing, the...

Supreme Court Sets Aside Fraud Findings, ₹447-Crore Disgorgement Order Against Reliance In RPL Futures Trading Case

The Supreme Court on Friday partly allowed Reliance Industries Limited's appeal in the Reliance Petroleum Limited (RPL) futures trading case, setting aside findings of fraud and market manipulation, quashing a ₹447.27 crore disgorgement order, and directing the refund of ₹250 crore deposited by the company. However, the Court upheld the finding that Reliance had violated disclosure requirements relating to position limits under a 2001 Securities and Exchange Board of India (SEBI) circular and...

LiveLawBiz: Corporate Legal News Daily Round-Up: May 28, 2026

DEBT RECOVERY LAWS Supreme Court Refers To Larger Bench Whether IBC Moratorium Applies To Entire Cheque Bounce Proceedings Or Only Compensatory AspectIBC Supreme Court Issues Notice On Plea Alleging Jaypee Used “Facade” Deals To Divert ₹13,833 Crore Homebuyer FundsNCLAT New Delhi Restores Resolution Plan Approval Process For Aldiam Motors, Quashes NCLT OrderNCLAT Sets Aside CIRP Against Ligare Aviation, Says Religare Transactions Were “Round Tripping Of Money”Agreement To Sell Does Not...

Supreme Court Issues Notice On Plea Alleging Jaypee Used “Facade” Deals To Divert ₹13,833 Crore Homebuyer Funds

The Supreme Court on Tuesday issued notice on a writ petition alleging that Rs. 13,833 crore out of Rs. 14,599 crore collected from homebuyers by the Jaypee Group was diverted through transfers to group entities and undervalued land transactions. The matter came up before a bench comprising the Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice Vipul M. Pancholi issued notice. “Issue notice, returnable on 15.07.2026,” the court recorded.Filed by a homebuyer in the 'KASABLANCA'...