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ED Can Share Information With Concerned Agencies On Violations Of Other Laws Under PMLA: Karnataka High Court
The Karnataka High Court on Wednesday held that information uncovered by the Enforcement Directorate (ED) during an investigation under the Prevention of Money Laundering Act (PMLA) can be shared with other agencies if it discloses violations of another law. It ruled that such information is not confined to proceedings under the PMLA alone. Justice M. Nagaprasanna made the observations while refusing to quash an FIR registered against Micah Mark and five others over allegations that they were...
LiveLawBiz Company Law Monthly Digest: June 2026
SUPREME COURTValidity Of Vote Cast On Behalf Of Society At Company's AGM Cannot Be Decided By Who Voted First: Supreme CourtThe Supreme Court has recently held that the validity of a vote cast on behalf of a society at a company's annual general meeting cannot be determined merely by who voted first. The Court ruled that voting authority must flow from the society's governing documents and the statutory framework regulating electronic voting.Case Title : HINDUSTAN MEDICAL INSTITUTION vs BIRLA...
Delhi High Court Rules Ilaiyaraaja Cannot License Songs From 134 Films Pending Saregama Copyright Suit
The Delhi High Court on Wednesday made absolute an ad interim injunction restraining composer Ilaiyaraaja from exploiting or licensing music composed for 134 films in a copyright suit filed by Saregama India Limited, claiming ownership over the works.The list includes iconic films such as 'Pallavi Anu Pallavi', '16 Vayathiniley', 'Mullum Malarum', 'Nizhalgal' and 'Moodu', all bearing Ilaiyaraaja's compositions.Justice Tushar Rao Gedela delivered the ruling today, which upheld the ex-parte...
LiveLawBiz: Corporate Legal News Daily Round-Up: June 30, 2026
IBCNCLT Ahmedabad Holds Sales Incentive Property Promise Not Operational Debt Under IBC, Dismisses S.9 Plea Mere Allegations Of Fraud Cannot Become A Vehicle To Reopen Every Concluded CIRP: NCLT Bengaluru 'Floodgates' Would Open: NCLT Bengaluru Rejects Third-Party Homebuyers' Bid To Intervene Before CIRP Admission Jet Airways Workmen's PF, Gratuity Dues Must Be Paid, Fall Outside Liquidation Estate: NCLAT IPRMadras High Court Grants Pre-Release Anti-Piracy Injunctions For 'Welcome to the...
Jet Airways Workmen's PF, Gratuity Dues Must Be Paid, Fall Outside Liquidation Estate: NCLAT
The National Company Law Appellate Tribunal (NCLAT) at Delhi has held that provident fund, gratuity and pension dues owed to Jet Airways workmen must be paid as they fall outside the liquidation estate, even if no segregated funds existed on the liquidation commencement date. It also directed the liquidator to exclude the 1,656 days beyond the statutory 330-day Corporate Insolvency Resolution Process (CIRP) period while computing the 24-month look-back period under the Insolvency and...
Diluting RBI's NBFC Capital Requirements Could Have Impact On India's Financial System: Bombay High Court
The Bombay High Court recently observed that permitting dilution of the Reserve Bank of India's directions on the minimum Net Owned Fund (NOF) requirement in favour of a Non-Banking Financial Company with weak financial standing and low NOF could have repercussions on the country's financial system. It upheld the Reserve Bank of India's decision cancelling the company's Certificate of Registration after it failed to achieve the prescribed NOF by the stipulated deadline. A division bench of...
Supreme Court Orders Status Quo On HC Direction To OMCs To Consider Dedicated Ethanol Plant's Higher Allocation Plea
The Supreme Court on Monday ordered that status quo be maintained while issuing notice on Bharat Petroleum Corporation Limited's (BPCL) special leave petition challenging a Karnataka High Court judgment concerning ethanol allocation for the Ethanol Supply Year (ESY) 2025-26. The High Court had directed the Oil Marketing Companies (OMCs) to decide VINP Distilleries' representation seeking additional ethanol allocation before finalising the tender. The status quo order effectively keeps in...
Centre Extends GSTAT Appeal Deadline To July 31 For Legacy GST Orders
The Centre has extended the deadline for filing legacy appeals before the Goods and Services Tax Appellate Tribunal (GSTAT) by a month, giving taxpayers until July 31, 2026, to file appeals against orders communicated before May 1, 2026. The extension replaces the earlier June 30 deadline and has been notified by the Ministry of Finance. Under the revised timeline, departmental applications in respect of orders passed before February 1, 2026, can also be filed until July 31. Appeals against...
LiveLawBiz: Corporate Legal News Daily Round-Up: June 29, 2026
COMPETITION LAW CCI Closes 14-Year Antitrust Case Against AIOCD, Cipla, Sun Pharma And Other DrugmakersIBC NCLT Chandigarh Rejects Samar Estates Homebuyers' Claim After They Admit Payment To Directors' AccountsNCLT Chandigarh Holds Marketing MoU Cannot Confer Homebuyer Status, Rejects ₹11 Crore ClaimNCLT Allahabad Says It Cannot Determine Unadjudicated MSMED Interest Claims During CIRPStep-Down Subsidiary Cannot Use 'Colourable Means' To Extract Holding Company Assets In Liquidation: NCLT...
CCI Closes 14-Year Antitrust Case Against AIOCD, Cipla, Sun Pharma And Other Drugmakers
The Competition Commission of India (CCI) on Monday closed a 14-year-old antitrust case against the All India Organisation of Chemists & Druggists (AIOCD), Cipla, Sun Pharma, Dr. Reddy's Laboratories and several other pharmaceutical companies, holding that allegations of anti-competitive practices were not established. A coram of Chairperson Ravneet Kaur and Members Anil Agrawal, Sweta Kakkad and Deepak Anurag disagreed with the Director General's findings. It observed, “The Commission...
Supreme Court Appoints Former Judge Justice Abhay Oka As Mediator In IIFL Finance-Paramvir Developers Dispute
The Supreme Court on Monday appointed former Supreme Court judge Justice Abhay S. Oka as mediator to facilitate a settlement in a dispute between IIFL Finance Ltd. and a real estate developer over a Framework Agreement concerning the settlement of loan facilities. The agreement relates to the La Maison, Signature Suites, and Celyn real estate projects. A vacation bench of Justices K.V. Viswanathan and Shree Chandrashekhar passed the order while hearing IIFL Finance's special leave petition...