LiveLawBiz: Corporate Legal News Daily Round-Up: July 15, 2026

IBC Liquidator's Sale Of Corporate Debtor's Shell Entity Valid After Creditor Consultation: NCLAT New DelhiIBC Cannot Be Used to Validate Illegal Constructions Or Defeat Town Planning Laws: NCLATArticle 227 Cannot Be Used To Bypass NCLAT Remedy Against NCLT Orders: Kerala High CourtIPR Delhi High Court Refers SOCIAL HOUSE-SOCIAL Trademark Row To MediationDelhi High Court Allows L'Oreal To Amend 'Garnier Bright Complete' Suit To Add Trademark Infringement PleaDelhi High Court Cancels 'ZORA'...

Supreme Court Refuses To Interfere With Madras HC Order On Arbitrator Appointment In Adani-Tamil Nadu Coal Dispute

The Supreme Court on Wednesday refused to interfere with the Madras High Court's ruling upholding the appointment of a sole arbitrator in a dispute between Adani Global Pte. Ltd. and Tamil Nadu Power Generation Corporation Ltd. over a contract for the supply of 39 lakh tonnes of imported coal. The court, however, recorded Adani's statement that it would be free to raise all other grounds available to it in the pending proceedings under Section 34 of the Arbitration and Conciliation Act. A...

Future Group GST Case: Supreme Court Questions Bombay HC's Power To Grant Sunil Biyani 7-Day Protection From Arrest

The Supreme Court on Wednesday reserved its decision on the Union of India's appeal questioning whether the Bombay High Court could grant Future Group non-executive director Sunil Biyani one week's protection from arrest after holding that his anticipatory bail plea was premature. The High Court had directed that if GST authorities subsequently authorise Biyani's arrest in an alleged ₹1,200 crore GST fraud probe, he should not be arrested for one week from the date the arrest order is...

Supreme Court Issues Notice On Revenue's Appeal Against HC's India-Singapore DTAA Relief To ST Shipping

The Supreme Court on Wednesday issued notice in the Income Tax Department's appeal challenging a Gujarat High Court judgment that held ST Shipping Pte Ltd, Singapore was entitled to the benefit of Article 8 of the India-Singapore Double Taxation Avoidance Agreement (DTAA). Under Article 8 of the DTAA, profits from the operation of ships in international traffic are taxable only in the country of residence.A bench of Justices P.S. Narasimha and Alok Aradhe while issuing notice on the Revenue's...

Supreme Court To Hear On Friday Plea Seeking Recall Of Order Referring Jindal Poly Films Dispute To Arbitration

The Supreme Court on Wednesday agreed to hear on Friday a plea filed by a group of 29 minority shareholders seeking recall of its order referring the Jindal Poly Films Ltd. class action dispute to arbitration. The shareholders contend that India's first corporate class action under Section 245 of the Companies Act could not have been referred to arbitration without hearing the other shareholders represented in the proceedings. A bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and...

LiveLawBiz: Corporate Legal News Daily Round-Up: July 14, 2026

IBC NCLT Records Highest-Ever First-Quarter Performance Under IBC, Approves 78 Resolution PlansNCLAT New Delhi Upholds CIRP Against Simbhaoli Sugar, Holds Farmers' Claims Must Be ConsideredAcknowledged Interest On ICDs Forms Part Of Financial Debt Under IBC: NCLAT New DelhiTAX Supreme Court Upholds Inclusion Of Royalty, DMF, NMET In Average Sale Price For Determining Iron Ore RoyaltyCustoms Duty Exemption Available For ELISA Kits Cannot Be Claimed By Individual Components: CESTAT DelhiCustoms...

NCLT Records Highest-Ever First-Quarter Performance Under IBC, Approves 78 Resolution Plans

The National Company Law Tribunals (NCLT) across the country have recorded their highest-ever first-quarter performance under the Insolvency and Bankruptcy Code (IBC), approving 78 resolution plans between April and June 2026, according to a performance report issued by its Registrar on July 13, 2026. The 78 resolution plans, involving an aggregate approved value of ₹5,517.66 crore, surpassed the previous first-quarter high of 73 approvals recorded during April-June 2024. During the...

Supreme Court Upholds Inclusion Of Royalty, DMF, NMET In Average Sale Price For Determining Iron Ore Royalty

The Supreme Court on Monday upheld the constitutional validity of rules requiring royalty, District Mineral Foundation (DMF) and National Mineral Exploration Trust (NMET) payments to be included in the sale value while computing the Average Sale Price (ASP) for iron ore. Dismissing a batch of petitions led by Kirloskar Ferrous Industries Ltd, the court held that the methodology is a valid measure to check evasion and does not violate the Constitution. A bench of Justices J.B. Pardiwala and...

Plaintiff In Commercial Suit Bound By 120-Day Time Limit To File Reply To Counterclaim: Supreme Court

The Supreme Court on Monday held that a plaintiff in a commercial suit cannot file a written statement to a defendant's counterclaim beyond the mandatory outer limit of 120 days prescribed under the Commercial Courts Act. It ruled that the statutory timeline applicable to defendants equally governs plaintiffs replying to counterclaims. A bench of Justices Sanjay Kumar and K. Vinod Chandran ruled that the mandatory timeline under the proviso to Order VIII Rule 1 of the Code of Civil Procedure...

LiveLawBiz: Corporate Legal News Daily Round-Up: July 13, 2026

IBCSupreme Court Upholds RBI Scheme For Merger Of PMC Bank With Unity Small Finance Bank Delayed Homebuyer Claim Cannot Be Rejected When RP Failed To Verify Records: NCLAT New Delhi Equity Investment Without Repayment Obligation Does Not Qualify As Financial Debt: NCLAT New Delhi CIRP Not Maintainable Against Company Struck Off From Register: NCLT Mumbai Pre-2016 DRT Recovery Certificate Cannot Trigger Insolvency Under Presidency Towns Insolvency Act: Supreme Court TAXCESTAT Delhi Allows Shriram...

Market Integrity Prevails Over Investor Gains; Profits Can't Excuse Regulatory Breach: Supreme Court

The Supreme Court on Monday held that market integrity and regulatory compliance cannot be compromised merely because investors ultimately earned profits. It ruled that a regulatory breach cannot be excused simply because investors suffered no loss. A bench of Justices Dipankar Datta and Satish Chandra Sharma dismissed appeals filed by Kotak Mahindra Asset Management Company (Kotak AMC), Kotak Mahindra Trustee Company Ltd. and their senior executives. The appeals challenged SEBI's action over...

LiveLawBiz Indirect Tax Weekly Round-Up: July 06 - July 12, 2026

HIGH COURTSAndhra Pradesh HCAP High Court Sets Aside VAT Orders On ISRO's Satish Dhawan Space Centre, Flags National InterestCase Title : Satish Dhawan Space Centre Shar v. The State of AP Case Number : WRIT PETITION NO: 6971/2026 CITATION : 2026 LLBiz HC(APH) 44The Andhra Pradesh High Court on 22 June set aside VAT assessment orders passed against Satish Dhawan Space Centre SHAR, a unit of the Indian Space Research Organisation, holding that an improper tax burden on an institution engaged...