Supreme Court Issues Notice In SEBI Appeal Against SAT Relief To Sahara Officials In ₹14,106 Crore OFCD Case

The Supreme Court on Thursday issued notice in an appeal filed by SEBI challenging a Securities Appellate Tribunal (SAT) order granting relief to certain officials of Sahara India Commercial Corporation Ltd. (SICCL) including its managers and company secretary, from liability arising out of the company's ₹14,106 crore OFCD fund-raising scheme.A vacation bench of Chief Justice Surya Kant and Justice V. Mohana while issuing notice tagged the case with a similar pending matter, which will be heard...

Karnataka High Court Quashes ED Arrest Of Gameskraft Founder, Says Arrest Cannot Spring From Ashes Of Old Allegations

The Karnataka High Court on Tuesday quashed the Enforcement Directorate's arrest of gaming platform Gameskraft founder Deepak Singh and two company executives, holding that the agency could not justify their arrest on the basis of material that was substantially the same as that relied upon in earlier proceedings. Justice M Nagaprasanna passed the order while allowing petitions filed by Singh and Gameskraft executives Vikas Taneja and Prithvi Raj Singh. The court observed that the ED itself had...

LiveLawBiz: Corporate Legal News Daily Round-Up: June 17, 2026

FEMA Madras High Court Dismisses Flipkart Founders' Review Plea Against FEMA ProceedingsIPR Madras High Court Temporarily Restrains Telugu Dub Release Of Drishyam 3 On OTT PlatformsBombay High Court Allows Preity Zinta To Pursue Suit Against Google, Meta Over AI DeepfakesBombay High Court Restraints Mas Pharmachem's 'BON K2 FORTE', Protects Integrace 'BON-K2' MarkBombay High Court Bars Use Of 'ZENOX' Mark, Holds It Infringes Glenmark's Registered 'ZINOX' TrademarkBombay High Court Cancels...

Madras High Court Dismisses Flipkart Founders' Review Plea Against FEMA Proceedings

The Madras High Court has dismissed review petitions filed by Flipkart co-founders Sachin Bansal and Binny Bansal and three investors seeking reconsideration of an earlier order that declined to interfere with Enforcement Directorate proceedings under the Foreign Exchange Management Act (FEMA). Justice S Sounthar held that the petitioners have an effective statutory remedy under FEMA and that the issues raised by them must first be agitated before the adjudicating authority. “In view of the...

Madras High Court Temporarily Restrains Telugu Dub Release Of Drishyam 3 On OTT Platforms

The Madras High Court has restrained the makers of malayalam movie “Drishyam 3” from releasing the Telugu dubbed version of the movie in OTT platforms. Justice K Kumaresh Babu made the interim order on a plea moved by film production company Rajkumar Theatre Pvt Ltd. The company had approached the Madras High Court seeking to restrain the producers and director and their agents, employees, assignees, licensees, and everyone claiming through them from infringing the company's exclusive copyright...

Bombay High Court Allows Preity Zinta To Pursue Suit Against Google, Meta Over AI Deepfakes

The Bombay High Court on Tuesday granted actress Preity Zinta leave to institute a suit against Google LLC, Meta and other entities over AI-generated deepfake videos, manipulated images, chatbot personas, and other digital content that she claims infringes her rights. The proposed suit alleges infringement of her personality rights, copyright, and moral rights. Justice Abhay Ahuja allowed Zinta's petition seeking leave to file the suit before the Bombay High Court and disposed of the matter. ...

Supreme Court Refuses To Entertain Plea For Creamy Layer In Income-Tax Exemption For Scheduled Tribes In North-East States

The Supreme Court on Tuesday declined to entertain a plea seeking the introduction of a "creamy layer" mechanism for the income-tax exemption granted to Scheduled Tribes residing in specified areas and States under the Income Tax Act, 2025.The petitioner sought a direction to restrict the benefit to economically weaker tribals and exclude affluent beneficiaries. A bench of CJI Surya Kant and Justice V. Mohana allowed petitioner Ashwini Upadhyay to withdraw the petition with the ...

NCLT Mumbai Rejects Insolvency Plea Against Eros Over Claim Arising From 'NH10' Co-Production Agreement.

The Mumbai Bench of the National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by Phantom Studios India Pvt Ltd against Eros International Media Ltd. The Tribunal held that Phantom Studios' claim for ₹1.48 crore arising from the parties' co-production arrangement for the film NH10 did not qualify as an operational debt under the Insolvency and Bankruptcy Code. A bench of Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer rejected Phantom...

LiveLawBiz: Corporate Legal News Daily Round-Up: June 16, 2026

IBC Voizzit Moves SC Against HC Order Striking US Bankruptcy Trustee From Suit Claiming Interest In Byju'S US AssetsNCLT Chandigarh Admits Kokila Mining Section 9 Petition, Rejects Set-Off Defence By Tycoons IndustriesCorporate Debtor Cannot Be Sold As Going Concern After Omission Of Enabling Liquidation Provisions: NCLT KolkataIPR Delhi High Court Restrains Okaya Dealers From Circulating Defamatory Ads Against Microtek TrademarksDelhi High Court Protects DIZEST Trademark, Bars Use Of...

Voizzit Moves SC Against HC Order Striking US Bankruptcy Trustee From Suit Claiming Interest In Byju'S US Assets

Two companies claiming rights over BYJU'S US subsidiaries, Epic Creations Inc. and Tangible Play Inc., have approached the Supreme Court against a Kerala High Court judgment that removed a US bankruptcy trustee from a commercial suit filed in Ernakulam. The High Court had also held that the assets forming the subject matter of the dispute had already been dealt with in bankruptcy proceedings before a US court.The appeal challenges the June 1, 2026 judgment of Justice Easwaran S. The matter is...

Banks Must Restrict Account Freeze To Amount Specified In Freezing Direction: Karnataka High Court

Banks cannot freeze an entire account when investigating agencies have directed freezing only up to a specified amount, the Karnataka High Court has held. The court observed that any restriction on the operation of a bank account must remain proportionate to the purpose sought to be achieved. Justice Suraj Govindaraj delivered the ruling while allowing a petition filed by a customer of IndusInd Bank. The account holder challenged the freezing of his account following communications from...

LiveLawBiz Indirect Tax Weekly Round-Up: June 08 - June 14, 2026

HIGH COURTSAllahabad HCResult Of Assessment Proceedings Has Bearing On Criminal Prosecution Under GST: Allahabad High CourtCase Title : Shakib Qureshi v. Anti Evasion Cgst and 2 others Case Number : CRIMINAL MISC. BAIL APPLICATION No. - 44278 of 2025 CITATION : 2026 LLBiz HC (ALL) 48The Allahabad High Court on 20 May held that the outcome of assessment proceedings can have a material bearing on criminal prosecution under the Goods and Services Tax (GST) regime. Justice Vikram D. Chauhan...