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LiveLawBiz: Corporate Legal News Daily Round-Up: May 06, 2026
COMMERCIAL LAW Bombay High Court Refuses To Refer Kalyani Family Feud To MediationUrgent Interim Relief Test Cannot Defeat Commercial Suit At Threshold: Bombay High CourtIBC Adani Ent. Files Caveat In Supreme Court After NCLAT Upholds Approval Of Its Resolution Plan For JALNCLT Bengaluru Admits Millennium Starch Into CIRP Despite Technical Defects In Insolvency PleaIPR Jioo Organics Agrees To Drop Reliance, Jio-Like Marks In Settlement Before Delhi High CourtSupreme Court Refuses To Interfere...
Algorithm-Based Arbitrator Selection Cannot Cure Unilateral Appointment Illegality: Bombay High Court
Recently, the Bombay High Court came down heavily on banks and non-banking finance companies for attempting to legitimise unilateral arbitrator appointments through institution-backed and algorithm-based selection mechanisms, holding that such practices are manipulative devices to circumvent Supreme Court rulings on arbitrator independence and neutrality. Justice Somasekhar Sundaresan set aside arbitral orders passed in proceedings initiated by IIFL Finance and issued directions for compliance...
Supreme Court Affirms Investor's Right To Maintain Oppression Plea Despite No Entry In Register Of Members
The Supreme Court has recently held that an investor can, in certain cases, maintain oppression and mismanagement proceedings under the Companies Act, 1956 even if his name was never entered in the company's register of members, particularly where the company had consistently recognised and treated him as a stakeholder. “A conjoint reading of Sections 397, 398 and 399 indicates that the expression “member” cannot be construed in isolation or confined to the technical formulation contained in...
Mere Default Of Business Loan Cannot Justify Issuance Of LOCs, Curtail Right To Travel Abroad: Delhi High Court
The Delhi High Court has held that Look Out Circulars (LOCs) cannot be sustained merely because loans have not been repaid and no criminal case is pending against borrowers, directors, or guarantors. "Mere inability to repay a debt, without there being a criminal case, cannot be a reason to deprive a citizen of the fundamental rights guaranteed under Article 21. The issuance of an LOC cannot be resorted to in every case of bank loan default or credit facility availed for business purposes....
Supreme Court of India Upholds HC Order Allowing Grasim Additional Evidence In BIRLA Trademark Row
The Supreme Court on Monday refused to interfere with the Bombay High Court's order permitting Grasim Industries to place additional documents on record in its trademark dispute with Saboo Tor Pvt Ltd over the use of the “BIRLA” mark. A bench of Justices K.V. Viswanathan and S.V.N. Bhatti held that the high court, in its April 6, 2026 order, had rightly exercised its discretion under Order XLI Rule 27 of the Code of Civil Procedure, which permits additional evidence at the appellate stage in...
Adani Ent. Files Caveat In Supreme Court After NCLAT Upholds Approval Of Its Resolution Plan For JAL
Adani Enterprises has filed a caveat before the Supreme Court anticipating an appeal by Vedanta Ltd against the NCLAT judgment upholding the approval of Adani's nearly ₹14,535 crore resolution plan for debt-laden Jaiprakash Associates Ltd (JAL). The caveat ensures that in case Vedanta files an appeal, no interim order is passed without first hearing Adani Enterprises. In its May 5, 2026 judgment, the NCLAT dismissed Vedanta's appeals challenging the approval of Adani Enterprises' resolution...
LiveLawBiz: Corporate Legal News Daily Round-Up: May 05, 2026
BANKING/NBFC Bombay High Court Quashes FIR Against HDFC Bank CEO Sashidhar Jagdishan By Lilavati TrustDelhi High Court Dismisses Stock Broker's Plea Against Order Summoning Him In ₹42,000 Crore DHFL Fraud CaseIBC NCLAT Upholds Insolvency Admission Against JV Partner As Claim Arose From Supply ObligationSupreme Court Pulls Up GNIDA For 'Persistent Inaction' In Monitoring Projects, Restores Earth Towne Resolution PlansNCLAT Sets Aside Order Admitting Equinox India Developments Ltd. Into...
Delhi High Court Dismisses Stock Broker's Plea Against Order Summoning Him In ₹42,000 Crore DHFL Fraud Case
The Delhi High Court has dismissed a petition filed by stockbroker Jalaj Batra challenging an order dated April 27, 2024 of a Special Judge (PC Act) at Rouse Avenue Courts, New Delhi, summoning him as an accused in the Rs 42,000 crore DHFL loan fraud and alleged share price manipulation case. The order involves taking cognisance of offences under the IPC and Prevention of Corruption Act, including criminal conspiracy, cheating, forgery and corruption. A bench of Justice Manoj Jain held that...
Supreme Court Pulls Up GNIDA For 'Persistent Inaction' In Monitoring Projects, Restores Earth Towne Resolution Plans
The Supreme Court of India on Tuesday observed that the Greater Noida Industrial Development Authority (GNIDA) was largely responsible for the situation surrounding stalled projects of Earth Infrastructures Ltd., including the Earth Towne project in Greater Noida, faulting it for failing to monitor development and allowing the situation to worsen.“We are, therefore, of the opinion that GNIDA contributed greatly to the present imbroglio by its persistent inaction and ineptitude all through....
MasterChow Agrees To Stop Using Dhurandhar Character In Its Ad; Bombay HC Records Settlement In Jio's Suit
A dispute over the use of the Dhurandhar film character 'Jameel Jamali' in an advertisement has been settled before the Bombay High Court, with Reliance Industries Limited's Jio Studios resolving its case against MasterChow Foods Private Limited. Jio Studios had objected to an advertisement created by MasterChow that featured the character 'Jameel Jamali' from Dhurandhar, along with behind-the-scenes footage from the film. The company said this amounted to copyright infringement in the...
BREAKING | Bombay High Court Quashes FIR Against HDFC Bank CEO Sashidhar Jagdishan By Lilavati Trust
The Bombay High Court on Tuesday quashed the FIR registered against Sashidhar Jagdishan, Managing Director and CEO of HDFC Bank, in connection with allegations of bribery made by the Lilavati Kirtilal Mehta Medical Trust, which manages the Lilavati HospitalA division bench of Justices M. S. Karnik and N. R. Borkar allowed Jagdishan's plea seeking quashing of the FIR lodged by the Bandra police on along with the magistrate's order that had directed registration of the case.The FIR had been...