Supreme Court Declines To Interfere With Calcutta High Court IT Order Favouring Britannia

The Supreme Court on Tuesday refused to interfere with a tax department plea against Britannia Industries Ltd, upholding a Calcutta High Court ruling that had set aside a Income Tax revision order. The dispute concerned the valuation of property acquired by the company and deductions claimed for statutory dues such as taxes.A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe, while declining to interfere with the High Court's order, kept the interpretation of Section 56(2)(x) of the...

LiveLawBiz: Corporate Legal News Daily Round-Up: April 21, 2026

COMPETITION LAW CCI Finds No Anti-Competitive Conduct By NABARD In Core Banking Solution Procurement Involving InfosysCCI Approves Vishakha Renewables–Vishakha Glass Restructuring ProposalIBC Bombay HC Pulls Up NCLT Mumbai Registry Over Scrutiny Lapse In Personal Guarantor Insolvency PleaNCLT Hyderabad Dismisses Insolvency Plea Against Steel Exchange India Over Pre-Existing DisputeNCLAT Urges IBBI To Ensure Resolution Plans Don't Allow Re-Verification Of Claims By SRASection 101 IBC Moratorium...

Supreme Court Sets Aside HC Direction Making Customs Dept. Liable For Demurrage In Austin Engineering Dispute

The Supreme Court has recently set aside a Madras High Court ruling that had required the Customs Department to bear demurrage charges in a dispute with Austin Engineering Co. Ltd. These charges are levied by port authorities when imported goods remain in storage beyond the permitted period.The court made it clear that such liability cannot be placed on customs unless there is clear evidence of mala fides or a gross abuse of power. A bench of Justice Aravind Kumar and Justice Prasanna B. Varale...

Calcutta HC Refuses To Stay Single Judge Order In Chrestien Mica Liquidation Case Over Fraud Allegations

The Calcutta High Court has refused to stay a single judge's order that stepped in to undo alleged fraudulent dealings in the decades-old liquidation of Chrestien Mica Industries Ltd., holding that the High Court exercising company jurisdiction retains authority once winding-up proceedings reach an “irreversible stage." A division bench of Justice Sabyasachi Bhattacharyya and Justice Supratim Bhattacharya said the transfer of such cases to the National Company Law Tribunal (NCLT) is permissible...

CCI Finds No Anti-Competitive Conduct By NABARD In Core Banking Solution Procurement Involving Infosys

Although the National Bank for Agriculture and Rural Development is dominant in the market for procurement of core banking solution services for rural cooperative banks, the Competition Commission of India has found no prima facie case of abuse of dominance or anti-competitive agreement in a case involving Infosys Limited. A coram comprising Chairperson Ravneet Kaur and Members Anil Agrawal, Sweta Kakkad, and Deepak Anurag passed the order closing the information under Section 26(2) of the...

LiveLawBiz: Corporate Legal News Daily Round-Up: April 20, 2026

IBCOffences Under IBC Triable By Special Court Where Registered Office Is Located: Madhya Pradesh High CourtLegal Representatives Can Maintain Oppression Petitions Without Membership Registration: NCLT MumbaiCoC's Commercial Wisdom Cannot Override IBC Mandates In Early Dissolution Plea: NCLT MumbaiDebt Denominated In Foreign Currency Must Be Converted At Invoice Date Rate For IBC Threshold: NCLT AhmedabadSARFAESI Enforcement Cannot Be Invoked After Debt Is Extinguished Under IBC: Orissa High...

Legal Representatives Have Right To Challenge Arbitral Awards That Bind Them: Supreme Court

The Supreme Court on Monday held that if an arbitral award can be enforced against the legal representatives of a deceased party, they must also have the right to challenge it under the law, holding that such representatives “step into the shoes” of the deceased for the purposes of arbitral proceedings. A bench of Justices Sanjay Karol and Vipul M. Pancholi observed that the Arbitration and Conciliation Act is a self-contained code and emphasises continuity of arbitral proceedings, particularly...

Ex-Promoter Of Learnfluence, Which Runs Lakshya Coaching Platform, Moves Kerala High Court Against IPO

Adheesh Damodaran, erstwhile promoter of Learnfluence Education Limited and co-founder of Lakshya CA Campus, has approached the Kerala High Court challenging the proposed initial public offering (IPO) of the company, which runs the Lakshya platform offering commerce education, alleging large-scale fraud, forgery, and manipulation of company records. In his writ petition, Damodaran has questioned the decision to allow Learnfluence to proceed with the IPO despite what he describes as “pervasive...

Calcutta High Court Flags Prima Facie Fraud In CIRP Against Alchemist Group, Seeks Reports From CBI, ED And SEBI

The Calcutta High Court recently directed the CBI, Enforcement Directorate (ED), and SEBI, which are already examining the affairs of the Alchemist Group amid allegations of running ponzi-style schemes, to file fresh status reports to examine whether the corporate insolvency process (CIRP) was fraudulently initiated. The court also asked them to look into the movement of funds abroad, possible round-tripping through foreign entities, and protection of investor assets. It noted a prima facie...

Can Dept. Issue One GST Notice Under Sections 73/74 Of CGST Act For Multiple Years? Bombay HC Refers Issue To Larger Bench

The Bombay High Court has referred to a Larger Bench the question of whether the GST Department can issue a single consolidated show cause notice covering multiple financial years under Sections 73 and 74 of the CGST Act. Section 73 of the CGST Act deals with the determination of tax not paid or short paid in cases not involving fraud or suppression, while Section 74 governs such determinations in cases involving fraud, wilful misstatement or suppression of facts. A Bench of Justices G. S....

LiveLawBiz Indirect Tax Weekly Round-Up: April 13 - April 19, 2026

SUPREME COURTSupreme Court Restores VAT Appeal, Holds No Fresh Pre-Deposit Needed Where Earlier Deposit Meets 12.5% RequirementCase Title : Telangana State Cooperative Marketing Federation Limited v. Assistant Commissioner ST & Ors. Case Number : Diary No. - 24607/2020 CITATION : 2026 LLBiz SC 153The Supreme Court has held that the appeal filed by Telangana State Cooperative Marketing Federation Limited against a reassessment order could not be rejected for non-payment of statutory...

LiveLawBiz IPR Weekly Digest: April 13 - April 18, 2026

HIGH COURTSDelhi High CourtDelhi HC Restrains Law Prep From Misusing 'LegalEdge' Mark, Orders Take Down AI Defamatory ContentCase Title: Toprankers Edtech Solutions Private Limited & Ors. vs. LPT Edtech Private Limited and Ors.Case Number: CS(COMM) 344/2026Citation: 2026 LLBiz HC (DEL) 390The Delhi High Court has recently granted an ex parte ad interim injunction in favour of edtech platform Toprankers, restraining rival CLAT coaching platform Law Prep Tutorial and others from publishing or...