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LiveLawBiz: Business Law Daily Round-Up: February 18, 2026
IBC NCLAT Says COVID Limitation Ruling Not Properly Considered In Encore ARC's CIRP Against Pandhe ConstructionsNCLT Mumbai Admits Insolvency Plea Against Reliance Ornatus Over ₹133.88 Crore DefaultResolution Professional Cannot Seek Removal Of Statutory Lien Created Before CIRP: NCLT MumbaiMunicipal Dues Cannot Be Recovered From Auction Purchaser After IBC Liquidation: Calcutta High CourtNCLT President Submits Enquiry Report After NCLAT Calls Chennai Bench Order “Rather Dubious”Authorisation,...
ITAT Delhi Quashes Tax Revision Against Senior Advocate Mukul Rohatgi For AY 2020–21
The Delhi Bench of the Income Tax Appellate Tribunal on Monday quashed a revision order passed against Senior Advocate Mukul Rohatgi for Assessment Year 2020–21, holding that the Income Tax Department lacked material to exercise its revision powers for an assessment of Rs.133.46 crore. Section 263 allows a senior tax officer to revise a completed assessment if it is found to be erroneous and prejudicial to the interests of the Revenue. In Rohatgi's case, the Tribunal held that these...
Supreme Court Refuses To Interfere With P&H HC Ruling In Talwandi Sabo–Punjab Power Arbitration Dispute
The Supreme Court has recently refused to interfere with a Punjab and Haryana High Court decision dismissing a writ petition filed by Vedanta Group company Talwandi Sabo Power Ltd against an arbitral tribunal's order that held part of its claim fell outside the scope of arbitration in its dispute with Punjab State Power Corporation Ltd (PSPCL). A bench of Justices Sanjay Kumar and K. Vinod Chandran dismissed the special leave petition. The Court said, “The special leave petition is,...
Supreme Court Refuses To Interfere With Order Denying RCF Right To Retain ₹218 Crore Deposited By Thermax In Arbitration
The Supreme Court on Monday dismissed a special leave petition filed by Rashtriya Chemicals & Fertilizers Ltd (RCF) challenging a Bombay High Court order that refused to allow it to retain Rs. 218.45 crore deposited by Thermax Ltd after an arbitral award in its favour was set aside. A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe declined to interfere with the January 28, 2026 order of the High Court's division bench. The Court observed, “While we are not inclined to...
Supreme Court Dismisses Plea Against Allahabad HC Ruling Upholding DRT Registrar's Power to Issue Notice Under SARFAESI
The Supreme Court on Tuesday dismissed a special leave petition challenging an Allahabad High Court ruling that upheld the authority of the Registrar of the Debts Recovery Tribunal to issue notice in a securitisation application under the SARFAESI Act. A Bench of Justices Dipankar Datta and Satish Chandra Sharma declined to interfere with the High Court's decision, observing, “We are not inclined to interfere with the impugned judgment and order of the High Court; hence, the special leave...
Kerala High Court Quashes Composite GST Notices Issued to Actor Honey Rose
The Kerala High Court on Monday refused to set aside composite GST show cause notices and assessment orders issued to actor Honey Rose Varghese and several other taxpayers, holding that it was bound by earlier Division Bench rulings requiring separate proceedings for each assessment year. Allowing the batch of petitions, Justice Ziyad Rahman A.A. observed that there was no stay on the earlier orders of the court and was therefore bound by it. “In this case, evidently, no stay is also obtained...
Writ Courts Cannot Force NBFCs To Regularise NPAs After SARFAESI Notice: Keral High Court
The Kerala High Court has held that courts cannot compel banks or Non-Banking Financial Companies to regularise loan accounts classified as Non-Performing Assets. Such directions cannot be issued once proceedings under the SARFAESI Act have been initiated especially diregarding the specific stand taken by NBFC. Setting aside an order granting instalment relief to a defaulting borrower, a Division Bench of Justices Anil K. Narendran and Muralee Krishna S. held: “When the...
LiveLawBiz: Business Law Daily Round-Up: February 17, 2026
IBC Limitation For IBC Appeal Runs From Pronouncement Date, Not Knowledge: NCLAT Dismisses CIRP AppealNCLT Mumbai Says Mumbai, Delhi Airport Operators Are Unsecured Creditors In Jet Airways LiquidationNCLAT Sets Aside Insolvency Process Against HNGIL Guarantor, Says Compromise Didn't Waive Guarantee InvocationBank's No Dues Certificate Not Determinative At CIRP Admission: NCLT JaipurIPRDelhi High Court Temporarily Restrains Deepika Padukone's 82°E From Using “Lotus Splash” Mark In Dispute With...
NCLT Mumbai Says Mumbai, Delhi Airport Operators Are Unsecured Creditors In Jet Airways Liquidation
The National Company Law Tribunal (NCLT), Mumbai Bench, has recently held that Mumbai International Airport Ltd (MIAL) and Delhi International Airport Ltd (DIAL) are not secured creditors in the liquidation of Jet Airways (India) Ltd, rejecting their contention that airport regulations conferred a lien over aircraft for unpaid dues“Hence, we are of considered view that the applicant is an unsecured creditor and its claims is to be dealt with accordingly,” the tribunal held. Jet Airways was...
Baba Ramdev Approaches Delhi High Court Over Deepfakes, Seeks Protection of Personality Rights
Yoga guru and Patanjali Ayurved co-founder Baba Ramdev has moved the Delhi High Court on Tuesday (February 17) seeking protection of his personality rights. The matter was listed before Justice Jyoti Singh and was briefly heard. It has now been kept for further hearing on Wednesday. Ramdev seeks an injunction against the unauthorised use of his name, likeness, voice and distinctive style of discourse on digital platforms. The plea targets “John Doe” defendants allegedly using artificial...