LiveLawBiz: Corporate Legal News Daily Round-Up: October 09, 2026

IBCNCLAT Seeks Project-Wise Completion Timelines For 16 Supertech Housing ProjectsNCLT Ahmedabad Rejects Creditor's Claim After Resolution Plan Approval Despite Civil Court DecreeNCLT Ahmedabad Refuses Blanket Warranty Coverage For Gensol's Tata EV Fleet, Orders Vehicle-Wise VerificationNCLAT Refuses To Recall Order Excluding Property Eviction Delay From Resolution Plan TimelineSupreme Court Allows Creditor Who Suffered 99.28% Haircut In CIRP To Claim Full Set-Off In ArbitrationTAXService Tax On...

Same-Sex Partners Must Challenge Marriage Laws, Not Income Tax Act For Gift Tax Exemption: Centre To Karnataka HC

The Centre on Friday told the Karnataka High Court that same-sex partners seeking a tax exemption on gifts exchanged between spouses must challenge the laws governing marital status, rather than the Income Tax Act. The latter, it argued, merely refers to the legal status recognised under other enactments. Additional Solicitor General K. Arvind Kamath, appearing for the Centre before Justice B.M. Shyam Prasad, made the submission while opposing a petition by Anurag Kalia and Akhilesh Godi. The...

Supreme Court Dismisses PIL Seeking Probe Into Overseas Funds Flowing Into Indian Equities, Adani Deals

The Supreme Court on Friday dismissed a Public Interest Litigation (PIL) filed by former journalist Ketan Tirodkar seeking an investigation into alleged overseas fund flows into the Indian equity market, including transactions involving Adani Group entities.A Bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana at the outset, questioned why the petitioner had approached the Supreme Court directly instead of pursuing the remedy available before the Bombay High Court,...

Supreme Court Asks P&H HC To Expedite Radico Khaitan's Challenge To Injunction On 'The Spirit Of Kashmyr' Mark

The Supreme Court on Friday requested the Punjab and Haryana High Court to expedite the hearing of Radico Khaitan Ltd.'s challenge to an injunction restraining it from marketing vodka under the mark 'THE SPIRIT OF KASHMYR', amid a trademark dispute with Piccadily Agro Industries Ltd. over the competing marks 'CASHMIR' and 'CASHMERE'.The Commercial Court at Karnal, Haryana on May 29, 2025 held in favour of Piccadily Agro Industries Ltd. at this stage, dismissing Radico Khaitan Ltd.'s applications...

SAT Sets Aside Order Allowing Chanda Kochhar Access To ICICI Bank's Internal Portal In Videocon Case

The Securities Appellate Tribunal has set aside its earlier direction permitting former ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar to inspect the Bank's Secretarial Portal and access electronic data stored on its servers and devices in connection with the ICICI Bank-Videocon Group matter.A coram of Presiding Officer Justice P.S. Dinesh Kumar and Technical Members Meera Swarup and Dr. Dheeraj Bhatnagar held that the data was neither in the possession of the Securities...

Supreme Court Allows Creditor Who Suffered 99.28% Haircut In CIRP To Claim Full Set-Off In Arbitration

The Supreme Court has held that an operational creditor who suffered a 99.28% haircut under an approved resolution plan can use its entire ₹12.26 crore claim to set off amounts found payable to a successful resolution applicant in arbitration. The relief is limited to set-off, and the creditor cannot independently recover the extinguished claim.“However, in the more compelling circumstance of the SRA, being the very erstwhile promoters of the CD, who accepted the claim of the OC, in the CIRP...

Supreme Court Issues Notice On Birla Sun Life Insurance's Plea Against Service Tax On Life Insurance Charges

The Supreme Court on Friday issued notice on Birla Sun Life Insurance Co. Ltd.'s special leave petition challenging a Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai order that partly upheld service tax demands on charges collected from life insurance policyholders. The Tribunal, in its April 10, 2026 order, set aside service tax demands on surrender, discontinuation and foreclosure charges, relying on its earlier rulings in similar cases involving life insurance companies. ...

Kerala High Court Orders FIR Against Pinarayi Vijayan, Daughter In CMRL-Exalogic Case

The Kerala High Court on Friday directed the registration of an FIR against Pinarayi Vijayan, his daughter Veena Vijayan, and former minister Mohammed Riyas in the CMRL-Exalogic case over alleged offences under the Prevention of Corruption Act. Justice A. Badharudeen passed the order on a petition filed by advocate K.M. Shajahan, who sought an FIR based on material forwarded by the Enforcement Directorate (ED). The petitioner also sought to transfer the investigation to the Vigilance and...

LiveLawBiz: Corporate Legal News Daily Round-Up: October 08, 2026

IBCNCLT Ahmedabad Refuses To Recall Withdrawal Order Where Counsel Was Authorised To Withdraw PetitionGoing-Concern Sale Commences With Liquidation Order, Not Auction Notice: NCLATBankrupt Personal Guarantor Cannot Withdraw Funds After Estate Vests In Trustee: NCLAT New DelhiNCLT Chandigarh Says Mere Directorship Insufficient For Fraud, Dismisses Plea Against 18 DirectorsNCLT Ahmedabad Admits ₹2.78 Cr. Insolvency Plea Against Polycab, Rejects 'Provisional Billing' DefenceTAXDelhi High Court...

GST Council Recommends Dropping Arrest Powers, Raising Prosecution Threshold To ₹5 Crore

The GST Council has recommended dropping arrest powers under the Goods and Services Tax (GST) law by omitting Section 69 of the Central Goods and Services Tax Act, 2017.Section 69 currently allows the tax authorities to authorise the arrest of a person suspected of committing specified GST offences. These offences are set out under Section 132 of the Act and include certain cases involving tax evasion and fraudulent input tax credit.It has also proposed raising the monetary threshold for...

Investor-State Arbitration Needs Standing Mechanism, Appellate Review: Justice PS Narasimha

Justice Narasimha was delivering the keynote address, titled “The Next Generation of International Investment Law” at an event marking the ninth anniversary of the Centre for Trade and Investment Law (CTIL).

Madras High Court Warns Bank-Initiated LOCs Could Leave Debtors At “Mercy Of Wolves Of Creditors”

The Madras High Court has held that a bank manager's letter to the Bureau of Immigration seeking issuance of a Look Out Circular cannot be treated as “law” for restricting a citizen's fundamental right to travel abroad. The court warned that allowing nationalised banks to seek Look Out Circulars (LOCs) against debtors could embolden private creditors and non-banking financial companies (NBFCs) to seek similar restrictions, leaving debtors “at the mercy of wolves of creditors.”“'Law' under...