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Supreme Court Issues Notice In Ideal Jawa Liquidator's Plea Against Classic Legends Over Yezdi Trademark
The Supreme Court on Friday issued notice in a plea by the liquidator of Ideal Jawa (India) Ltd. challenging a Karnataka High Court ruling that allowed Classic Legends Pvt. Ltd. and its founder Boman R. Irani to use the 'Yezdi' trademark after holding that the company no longer retained rights over it.The high court had found that the trademark had lapsed and that goodwill could not survive once the underlying business had ceased operations.A bench of Chief Justice Surya Kant and Justices...
Supreme Court Dismisses Customs Challenge Against ITC Ltd Over Quicklime Classification
The Supreme Court on Friday dismissed the Customs Department's challenge against ITC Ltd, upholding a ruling that treated imported “quicklime” as an industrial form of lime rather than a chemically pure compound. The classification turned on whether the product, containing about 92% calcium oxide, could be considered a high-purity chemical.A bench of Justices Manoj Misra and Manmohan found no grounds to interfere with the CESTAT Kolkata Bench order dated June 20, 2025, which had held in favour...
Supreme Court Dismisses Challenge To Gujarat HC Order Quashing Rasna Reassessment Over Deactivated PAN
The Supreme Court of India on Friday refused to interfere with a Gujarat High Court order quashing reassessment proceedings against Rasna Pvt Ltd, which had been initiated using a deactivated PAN. Rasna Pvt Ltd, known for manufacturing soft drink concentrates, had challenged the notices issued under the Income Tax Act on the ground that all transactions were disclosed under its active PAN following amalgamation.The Gujarat High Court had, on October 15, 2025, quashed notices issued under...
Supreme Court Dismisses Plea Against NCLAT Ruling That CCI Need Not Put Informant On Notice At Prima Facie Stage
The Supreme Court on Friday refused to interfere with a National Company Law Appellate Tribunal (NCLAT) ruling that the Competition Commission of India (CCI) is not required to issue notice to the informant when it closes a case under Section 26(2) of the Competition Act after finding no prima facie case. The top court was hearing a plea filed by Karnataka Power Corporation Ltd. (KPCL) against the NCLAT's January 13, 2026 order, which had upheld the CCI's decision to close an abuse of dominance...
LiveLawBiz: Corporate Legal News Daily Round-Up: April 23, 2026
BANKING/NBFC Banks Must Halt Online Money Game Transactions On Regulator's Direction Under Online Gaming Rules, 2026Bombay High Court Upholds RBI's 2019 Stressed Assets Framework, Finds No ArbitrarinessBombay High Court Reads Down RBI 5-Year Ban On New Venture Funding For Wilful Defaulters After NPA SettlementIBC Insolvency Process Has Far-Reaching Consequences, Cannot Be Used To Enforce Money Decrees: Supreme CourtNCLAT Sets Aside NCLT Order Replacing RP, Says It Cannot Act As 'Moral...
Insolvency Process Has Far-Reaching Consequences, Cannot Be Used To Enforce Money Decrees: Supreme Court
The Supreme Court on Thursday held that insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 cannot be invoked as a substitute for execution of a civil court decree. A Bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe observed that, “The insolvency process is a remedy with far-reaching consequences and must be reserved for cases of genuine insolvency or financial distress, not for the enforcement of money decrees.” The Division Bench allowed an appeal against a...
Bombay HC Grants Injunction Against Absun Pharma, Imposes ₹10 Lakh Costs For Sun Pharma Mark Infringement
The Bombay High Court has granted a permanent injunction against Absun Pharma in an over-decade-long trademark dispute with Sun Pharmaceutical Industries Ltd., holding that the use of the marks “ABSUN” and “ABSUN PHARMA” infringes its registered marks “SUN” and “SUN PHARMA”.The court also imposed costs of Rs 10 lakh on Absun Pharma payable to Sun Pharma.A Single Judge Bench of Justice Manish Pitale held that merely prefixing letters to a registered mark does not create a distinction where its...
Bombay High Court Upholds RBI's 2019 Stressed Assets Framework, Finds No Arbitrariness
The Bombay High Court recently upheld the Reserve Bank of India's June 7, 2019 circular on the Prudential Framework for Resolution of Stressed Assets, refusing to interfere with the policy decision that repealed multiple earlier restructuring circulars. The court found no arbitrariness in the RBI's decision to withdraw earlier schemes, including those relating to corporate debt restructuring, restructuring of advances by banks, and restructuring of dues of small and medium enterprises, holding...
LiveLawBiz: Corporate Legal News Daily Round-Up: April 22, 2026
IBC NCLAT Reserves Order On Vedanta's Plea Against Approval Of Adani's JAL Resolution PlanNCLT Not Mere Counter Signatory, Can Reject CoC-Approved Resolution Plan Where CIRP Found 'Suspect': NCLATNCLAT Dismisses CIRP Plea Against A.G. Pipes, Says Debt Cannot Be Aggregated Across Distinct Legal EntitiesCOMPETITION LAW NCLAT Stays Recovery of ₹27.38 Crore CCI Penalty On Intel Over India-Specific Warranty Policy For MicroprocessorsIPR Delhi HC Allows 'GAINDA' Maker To Clear Inventory Despite...
NCLAT Reserves Order On Vedanta's Plea Against Approval Of Adani's JAL Resolution Plan
The National Company Law Appellate Tribunal (NCLAT) on Wednesday reserved orders on Vedanta Limited's appeal challenging the approval of Adani Enterprises Limited's resolution plan for Jaiprakash Associates Limited, with Vedanta arguing that its higher bid was ignored despite offering the maximum value. Vedanta has challenged the March 17 order of the Allahabad bench of the National Company Law Tribunal, which approved Adani Enterprises' plan while rejecting Vedanta's proposal. Vedanta had...
RBI Approval Needed To Enforce Foreign Decree Where FERA Regime Applies: Supreme Court
The Supreme Court of India on Tuesday clarified that enforcement of a foreign decree arising from a transaction governed by India's foreign exchange regulatory regime would require prior approval of the Reserve Bank of India (RBI), where such approval is mandated under the governing statutory framework. A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe held that while there is no prohibition on the initiation of proceedings or determination of liability based on a foreign decree,...