Voluntary Statements To Customs Officers Can Sustain Conviction: Supreme Court

The Supreme Court has recently reiterated that statements recorded by Customs officers under Section 108 of the Customs Act, 1962, constitute substantive evidence and can sustain a conviction if shown to be voluntary. A bench of Justice Vikram Nath and Justice Sandeep Mehta reaffirmed the Gujarat High Court's judgment holding that, “Statements recorded under Section 108 of the Customs Act, 1962 by duly authorized Customs Officers are admissible in evidence and do not attract the bar...

Defunct Scheme Of Arrangement Under Companies Act Cannot Stall IBC Proceedings: Supreme Court

The Supreme Court on Tuesday held that insolvency proceedings under the IBC cannot be kept in abeyance on the basis of a Scheme of Arrangement that has become redundant and inoperative for non-compliance with statutory requirements.The court reiterated that once the statutory requirements of Section 7 are met, insolvency must proceed notwithstanding any parallel company law proceedings.A bench of Justices Sanjay Kumar and K. Vinod Chandran framed the core issue as whether pendency of proceedings...

NCLT, NCLAT Cannot Nullify Benami Act Confiscation In IBC Proceedings: Supreme Court

The Supreme Court on Tuesday held that insolvency tribunals cannot nullify confiscation of property under the Prohibition of Benami Property Transactions Act, ruling that once property is confiscated under Section 27, it vests absolutely in the Central Government and falls outside the liquidation estate under the Insolvency and Bankruptcy Code. A Bench of Justices Pamidighantam Sri Narasimha and Atul S. Chandurkar dismissed appeals filed by liquidators who had sought to challenge attachment...

Committee Of Creditors Not Barred From Litigating In Own Name Under IBC: NCLAT In Byju's Parent Insolvency Case

The National Company Law Appellate Tribunal (NCLAT) at Chennai has held that a Committee of Creditors (CoC) can litigate in its own name under the Insolvency and Bankruptcy Code, even though it does not possess juristic personality in the classical sense. The ruling came in proceedings involving Think and Learn Pvt. Ltd., the parent company of edtech firm Byju's. A bench of Judicial Member Justice N Seshasayee and Technical Member Jatindranath Swain observed, “Therefore, since CoC is a...

Borrower Cannot Redeem Mortgaged Property After Sale Certificate Under Pre-2016 SARFAESI: Madhya Pradesh HC

Holding that a borrower cannot reclaim mortgaged property after issuance of a sale certificate under the unamended SARFAESI regime, the Jabalpur Bench of the Madhya Pradesh High Court dismissed writ petitions challenging auction proceedings initiated by Bank of India. A Division Bench of Justices Vivek Rusia and Pradeep Mittal clarified that the equitable principle of “once a mortgage, always a mortgage” operates only until the right of redemption is lawfully extinguished.The case arose from...

LiveLawBiz: Business Law Daily Round-Up: February 23, 2026

IBC Supreme Court Dismisses Appeal Against NCLAT Order Rejecting Insolvency Plea Against VoltasIBBI Suspends Insolvency Professional's AFA For Six Months Over CIRP Without Valid AuthorisationNCLT Mumbai Allows Saraswat Bank To Make Clarificatory Amendments To Section 7 PetitionMere MOU For Flat Allotment Not Financial Debt Without Disbursal To Corporate Debtor: NCLT MumbaiMere Non-Payment Of Ordered Amount Not Civil Contempt, Execution Is Proper Remedy: NCLT KochiIPRDelhi High Court Grants...

Supreme Court Dismisses Customs Review Plea Against IndiGo, SpiceJet In IGST Exemption Case On Reimported Aircraft Parts

The Supreme Court has recently dismissed review petitions filed by the Customs Department against its earlier judgment affirming relief granted to InterGlobe Aviation Limited, which operates IndiGo, in a dispute concerning the levy of Integrated Goods and Services Tax (IGST) on re-import of aircraft and parts sent abroad for repairs.A bench of Justice B.V. Nagarathna and Justice K.V. Viswanathan condoned the delay but declined to interfere with its earlier decision. The court held: ...

Delhi High Court Grants Ex-Parte Injunction Protecting 'TOI' Mark Against Impersonating Social Media Accounts

The Delhi High Court has recently granted an ex-parte ad-interim injunction to Bennett Coleman and Company Limited restraining the use of the marks TIMES OF INDIA, TOI MOVIES, TOI_MOVIES and TOIMOVIES_, or any identical or deceptively similar mark, by unauthorised social media account operators. The order was passed on February 20, 2026 by Justice Tushar Rao Gedela. The court noted that “The Times of India” was recognised as a well-known trademark by the Trade Marks Registry in 2024. It held...

Supreme Court Dismisses Appeal Against NCLAT Order Rejecting Insolvency Plea Against Voltas

The Supreme Court has recently refused to interfere with the National Company Law Appellate Tribunal's decision dismissing the insolvency plea filed by Air Wave Technocrafts Pvt. Ltd against Voltas Ltd, a Tata Group company engaged in air-conditioning and engineering services. A bench of Justices Sanjay Kumar and K. Vinod Chandran dismissed the civil appeal arising out of the NCLAT judgment of November 27, 2025, which had refused to admit insolvency against Voltas for for an operational...

Meta, WhatsApp Undertakes To Comply With NCLAT Order Extending CCI's Privacy Safeguards To Advertising Data By March 16

WhatsApp and Meta on Monday told the Supreme Court that they will comply with the National Company Law Appellate Tribunal's directions extending CCI's privacy and consent safeguards initially applicable to non-advertising data to advertising-related data sharing. They did not press their plea seeking a stay. Senior Advocate Kapil Sibal, appearing for the platforms, said an affidavit has been filed explaining what data is shared and what is not. He told the court the companies will comply with...

CBIC's 2024 Policy Barring Govt Appeals Below ₹2 Crore Covers Pending Cases, Not Merely Future Filings: Supreme Court

Holding that the Centre's 2024 litigation policy applies even to pending appeals, the Supreme Court on February 5, 2026 dismissed appeals filed by the Commissioner of Commercial Tax against Vikaram Cement, ruling that the Rs. 25.47 lakh tax demand involved fell well below the Rs. 2 crore monetary limit fixed under the June 26, 2024 circular issued by the Central Board of Indirect Taxes and Customs. Rejecting the State's contention that the circular would not apply to appeals already filed under...

Breaking | Bombay High Court Sets Aside Stay On Fraud Classification Proceedings Against Anil Ambani

The Bombay High Court on Monday allowed appeals filed by Bank of Baroda, Indian Overseas Bank and IDBI Bank, which had challenged a single judge's order staying fraud classification proceedings against Anil Ambani, the founder and chairman of the Reliance Group. The court set aside a single-judge's interim order that had recorded a prima facie finding of “serious defects” in the forensic audit relied upon by the banks.A Division Bench comprising Chief Justice Shree Chandrashekhar and Justice...