Borrower Cannot 'Blithely' Ignore Banks' Accounting System While Calculating Loan Liability: Supreme Court

The Supreme Court has observed that a borrower, in this case a trust and its trustees, cannot keep changing its calculations of loan liability to suit its interests while ignoring the accounting system followed by banks.A bench of Justices Sanjay Kumar and Sanjeev Sachdeva observed, “The Trust and its trustees cannot blithely ignore the accounting system followed by banks and come up with different calculations at different points of time to suit their own interests.”The top court restored the...

LiveLawBiz: Corporate Legal News Daily Round-Up: August 12, 2026

IBC 2026 IBC Amendment Excluding Security Interests Created By Operation Of Law To Apply Prospectively: NCLT MumbaiNCLT New Delhi Dismisses Vatika One On One Insolvency Plea, Holds Assured Returns Not Operational DebtNCLT Ahmedabad Directs Zyngo EV Mobility To Hand Over 16 Leased EVs To Gensol EV LeaseNCLAT New Delhi Says IRP Cannot Keep Creditors And Homebuyers Satisfied In Real Estate InsolvencyIPR Delhi High Court Upholds Rejection Of Esteve Pharma's Tramadol-Celecoxib Co-Crystal...

Supreme Court Dismisses NSEL Plea For Joint Trial In Two CBI Cases Over 2013 Payment Crisis

The Supreme Court on Wednesday dismissed National Spot Exchange Ltd.'s (NSEL) challenge to the Bombay High Court's March 27, 2026 judgment. The Bombay High Court had refused to direct a joint trial in two CBI cases arising from the alleged 2013 NSEL payment crisis.A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana held that, "No case to interfere with the impugned order passed by the High Court is made out. The Special Leave Petition is,...

Laser Imagers Are Accessories, Not Diagnostic Apparatuses For Customs Duty Purposes: Supreme Court

The Supreme Court has recently ruled that a laser imager used to print images generated by MRI, CT, X-ray and other diagnostic machines cannot itself be treated as a “diagnostic apparatus” for determining customs duty.“Admittedly, the laser imager has no diagnostic skill or capability of its own and must necessarily receive inputs from diagnostic equipment to carry out its function of printing films. In effect, it is an 'accessory' to the diagnostic equipment from which it receives inputs, as it...

Supreme Court Stays Bombay High Court Order Directing CDSL To Pay ₹86.02 Lakh To Investor

On 7 August, the Supreme Court stayed the operation of a Bombay High Court order that had upheld an arbitral award directing Central Depository Services (India) Limited (CDSL) to pay Rs. 86.02 lakh with interest to investor Daksha Narendra Bhavsar for losses arising from the transfer and pledge of her demat shares by BRH Wealth Kreators Limited. A Division Bench comprising Justices J.B. Pardiwala and K. Vinod Chandran issued notice on CDSL's Special Leave Petition, returnable on 10 September...

Defendant Can Question Trademark Owner On Prior Use Even If Written Statement Not On Record: Supreme Court

The Supreme Court has ruled that a party accused of trademark infringement can question the trademark owner about documents showing when the disputed brand name was first used, even if that party's written statement is not on record.A bench of Justice J.B. Pardiwala and Justice K. Vinod Chandran set aside a Kerala High Court order that had expunged such a question from the trial record, holding that it was a factual question beyond the permissible scope of cross-examination because the written...

Supreme Court Upholds Interim Relief To Unsuccessful Arbitration Party In 'Rare, Compelling' Case

The Supreme Court on Tuesday upheld interim relief granted to an unsuccessful party in arbitration, finding that it had met the higher threshold required for post-award relief under Section 9 of the Arbitration and Conciliation Act, 1996.A bench of Justice K.V. Viswanathan and Justice Alok Aradhe upheld a Delhi High Court order directing National Projects Construction Corporation Ltd. (NPCC) to deposit ₹3.5 crore, which it had realised by invoking bank guarantees furnished by Ishvakoo (India)...

Why Can Scammers Access Meta's Copyright Strike Tool While Creators Are Denied? Delhi High Court Asks

The Delhi High Court has asked Meta to place on record its policy, guidelines, and eligibility criteria for access to its "Rights Manager" tool, questioning why the anti-plagiarism tool is not available to content creators with large followings while scammers appear to be getting access to it.Rights Manager is a Meta tool that allows content creators and rights holders to identify when their original content is copied or uploaded by another person and take action against the matching...

SAT Questions Rationale Behind SEBI's 2-Month Market Ban On Zee Entertainment, Reserves Order On Interim Relief

The Securities Appellate Tribunal on Wednesday reserved its order on the interim relief sought by Zee Entertainment Enterprises Limited (ZEEL) and Punit Goenka against SEBI's market access restrictions. SEBI had restrained ZEEL from accessing the securities market for two months and Goenka for one year in the case concerning the alleged unauthorised pledging of ZEEL's Hyderabad property to secure loans for promoter-linked entities.During the hearing, a the coram of Presiding Officer Justice...

Russia Appoints Former CJI D.Y. Chandrachud As Arbitrator In Investment Treaty Dispute With Ukrainian Bank

Former Chief Justice of India D.Y. Chandrachud has been appointed by Russia as its arbitrator in a new investment treaty dispute brought by Ukrainian state-owned bank Oschadbank over assets and operations it says it lost in south-eastern Ukraine.According to a report published by Global Arbitration Review (GAR) on August 7, 2026, the dispute will be heard by a three-member tribunal under the 1998 Ukraine-Russia bilateral investment treaty. The tribunal will be presided over by Costa Rican...

Supreme Court Reserves Verdict On Concast Steel MD's Bail Plea In ₹6,210 Crore Money Laundering Case

The Supreme Court on Wednesday reserved its verdict on the bail plea of Sanjay Kumar Surekha, Chairman and Managing Director of Concast Steel and Power Ltd. (CSPL).Surekha has been in custody since December 18, 2024, in an Enforcement Directorate money laundering case. The case concerns the alleged diversion and laundering of ₹6,210.72 crore.Surekha is challenging the Calcutta High Court's November 14, 2025, order rejecting his bail plea.The High Court had found prima facie material indicating...

Delhi High Court Grants Khushi Kapoor Relief Against Unauthorised Merchandise, Obscene Content

The Delhi High Court has indicated it will order the takedown of links carrying obscene and pornographic content and links selling unauthorised merchandise bearing actor Khushi Kapoor's persona. Even as the court left the larger dispute over "fan pages" open for a later hearing, Justice Jyoti Singh confined today's relief to unauthorized merchandise sales and obscene or pornographic content.Kapoor, described in the plea as an actress and fashion icon, moved court against unknown persons,...