Supreme Court Makes Absolute Interim Protection To Deepak Garg In Rs 1596 Crore SRS Fraud Case

The Supreme Court on Thursday made absolute the interim protection it had earlier granted to Deepak Garg, a Director of SRS Finance Ltd and SRS Shining Ornaments Ltd, during the pendency of his special leave petitions challenging the Punjab and Haryana High Court's refusal of anticipatory bail in the alleged Rs 1,596 crore SRS Group financial fraud case. A Bench of Justices Vikram Nath and Sandeep Mehta said, “Taking into consideration the facts and circumstances of the case and upon hearing...

CESTAT Quashes Rs 3.47 Crore Duty Demand On Myntra Jabong, Says No Wilful Suppression

The Delhi Bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) on Friday set aside a Rs 3.47 crore customs duty demand against Myntra Jabong India Pvt Ltd, holding that the extended limitation period under Section 28(4) of the Customs Act could not be invoked in a classification dispute.Allowing the appeal, The Tribunal noted that the company had deposited the entire differential duty along with interest before issuance of the show cause notice and that its failure to mention the...

Supreme Court Refuses To Interfere With NCLAT Order Upholding CIRP Against Kirtiman Cements

The Supreme Court on Friday declined to interfere with a National Company Law Appellate Tribunal (NCLAT) judgment upholding the initiation of Corporate Insolvency Resolution Process (CIRP) against Kirtiman Cements and Packaging Industries Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). A Bench of Justice J.B. Pardiwala and Justice K.V. Viswanathan dismissed the Civil Appeal filed under Section 62 of the IBC, stating that it was not inclined to interfere with the NCLAT's...

Byju's Insolvency: Supreme Court Continues NCLAT's No Final Order Direction In Plea To Remove GLAS Trust From CoC

The top court was hearing an appeal filed by the Committee of Creditors challenging the NCLAT's decision upholding the rejection of its plea to implead itself in proceedings seeking removal of GLAS Trust from the CoC of Think & Learn Pvt. Ltd.

Supreme Court Stays Madras HC Order Reviving Sreedevi Video-Saregama Dispute Over Tamil Telugu Film Music

The Supreme Court on Thursday stayed a Madras High Court order that had revived an injunction claim in a copyright dispute between SaReGaMa India Ltd and Sreedevi Video Corporation over the audio rights of iconic Tamil and Telegu films such as Sagara Sangamam, Salangai Oli and Shankara Bharanam. The High Court had held that although Sreedevi's plea seeking declaration of copyright was barred by limitation, its claim for permanent injunction could still be examined independently and remanded the...

Courts Must Remain Vigilant Against Expanding 'Narrow Boundaries' Of IBC Review: Supreme Court

The Supreme Court on Friday upheld the approval of Sarda Energy and Minerals Ltd.'s (SEML) resolution plan for SKS Power Generation (Chhattisgarh) Ltd., cautioning courts against expanding judicial review under the Insolvency and Bankruptcy Code, 2016. Affirming the National Company Law Appellate Tribunal's order, which had upheld the National Company Law Tribunal's approval of the plan, a Bench of Justices BV Nagarathna and R Mahadevan stressed that the IBC prioritises speed and...

CRB Mutual Fund Case: Supreme Court Rejects Former Director's Plea Against Forensic Audit Order

The Supreme Court recently refused to interfere with a Delhi High Court order directing a forensic audit and SEBI supervision of the winding up of the CRB Mutual Fund, dismissing a special leave petition filed by C.R. Bhansali, a former director of CRB Capital Markets Ltd., in the long-running proceedings arising from securities and mutual fund irregularities of the 1990s. A bench of Justices J.B. Pardiwala and K.V. Viswanathan said: “Having heard the learned counsel appearing for the parties...

LiveLawBiz: Corporate Legal News Daily Round-Up: February 26, 2026

IBC Byju's CoC Moves Supreme Court After NCLAT Refuses Impleadment In GLAS Trust Removal PleaSupreme Court Refuses To Frame Guidelines On Parallel Insolvency Against Borrower and GuarantorNCLAT Refuses To Condone Delay In Appeal; Limitation Starts From Pronouncement, Not UploadingIPRKerala High Court Restrains Former G-TEC Franchisee From Using GIO TECH MarkPurva Dhanashree Moves Delhi High Court Amid Trademark Dispute Over 'Vilasini Natyam'Jammu Court Grants Interim Relief To JioStar India,...

Supreme Court Refuses To Frame Guidelines On Parallel Insolvency Against Borrower and Guarantor

The Supreme Court on Thursday observed that while simultaneous Corporate Insolvency Resolution Processes (CIRPs) against principal borrowers and corporate guarantors are legally permissible, it will not frame additional judicial guidelines regulating such proceedings, leaving any reform to Parliament and the Insolvency and Bankruptcy Board of India (IBBI). “We, however, decline to lay down guidelines as proposed; and for good reason. IBC is a product of a well-thought, deliberated, and...

Arbitrator Appointed By Agreed Institution Not Per Se Unilateral: Madras High Court

Drawing a clear distinction between unilateral appointments and institutional nominations, the Madras High Court has held that an arbitrator appointed by an arbitral institution agreed upon by the parties cannot automatically be treated as a unilateral appointee, even if one side initiates the process. “The appointment of Arbitral Tribunal by an institution that is agreed upon between the parties per se cannot be dealt with in the same manner in which the Court deals with an unilateral...

Byju's CoC Moves Supreme Court After NCLAT Refuses Impleadment In GLAS Trust Removal Plea

Today, the Committee of Creditors (CoC) of Byju's parent company Think & Learn Pvt Ltd, moved the Supreme Court challenging an order passed by the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) on 24 February 2026.On 24 February, the NCLAT had held that although the CoC may litigate in its own name under the IBC, it was not a necessary party to the plea seeking removal of GLAS Trust and accordingly upheld the Bengaluru National Company Law Tribunal's (NCLT) 26...

Delhi High Court Temporarily Restrains 'Singh and Singh Chartered Accountants' In Trademark Suit Filed By Law Firm

The Delhi High Court on Thursday granted an ad-interim injunction restraining a chartered accountancy firm from using the name “Singh and Singh Chartered Accountants” in a trademark infringement suit filed by Singh and Singh Law Firm LLP.The order was passed by Justice Jyoti Singh after hearing the submissions of the law firm at the ad-interim stage. During the hearing, the court sought clarification on the nature of the defendants' business, asking, “These are what, chartered accountants?”...