Supreme Court Orders Status Quo Over ₹54 Crore Deposit In Moser Baer Solar Asset Auction

The Supreme Court on Thursday directed parties to maintain status quo in a dispute concerning the ₹54 crore deposit made by JFC Finance (India) Ltd. in the fresh auction of assets of corporate debtor Moser Baer Solar Ltd.The dispute concerns whether the Liquidator can retain JFC's deposit until the successful bidder pays the entire sale consideration of ₹168 crore.The NCLAT rejected the Liquidator's plea, holding that the condition in paragraph 56(iv) had been triggered once another bidder...

BSE Moves Supreme Court To Transfer Bombay HC Challenge To Ruling Declaring Stock Exchanges RTI Public Authorities

The Supreme Court on Thursday issued notice on a plea filed by BSE Ltd. seeking transfer of its 2007 writ petition from the Bombay High Court to the Supreme Court. The writ petition challenges the Central Information Commission's June 7, 2007, order declaring stock exchanges, including BSE, as “Public Authorities” under Section 2(h) of the Right to Information Act, 2005.The transfer plea arose after the Delhi High Court, on July 1, 2026, held the National Stock Exchange of India Ltd. (NSE) to...

'Why Are You Fighting Unnecessarily?': Supreme Court Declines Ilaiyaraaja's Challenge In 'En Iniya Pon Nilave' Copyright Dispute

The Supreme Court on Thursday refused to interfere with music composer Ilaiyaraaja's challenge against the Delhi High Court's dismissal of his review petition in the copyright dispute concerning the song “En Iniya Pon Nilave” from the Tamil film Moodu Pani. The Delhi High Court's Single Judge held that while Ilaiyaraaja retained certain rights in the musical work, he had no copyright in the sound recording or lyrics and therefore could not assign those rights to Vels. The Division Bench...

Supreme Court Refuses To Interfere With Bombay HC Order Dismissing Income Tax Appeal Against Tata Realty

The Supreme Court has dismissed the Income Tax Department's plea challenging the Bombay High Court order dismissing its appeal against Tata Realty & Infrastructure Ltd. The dispute concerned the applicability of Section 14A disallowance of the Income Tax Act where Tata Realty had earned no exempt income and whether the ₹2.5 crore payment made by Tata Realty to vacate the premises so that it could occupy them under a 60 month leave and licence arrangement was allowable as revenue...

LiveLawBiz: Corporate Legal News Daily Round-Up: September 30, 2026

IBCNCLAT Directs NCLT To Hear Collusion Plea Before Deciding Insolvency CaseNCLT Can Recall Fraudulently Initiated CIRP At Any Time; Applicants Have Public Duty Not To Mislead: Supreme CourtESI Contributions Cannot Be Treated As Ordinary Operational Debt Under IBC: NCLATPersonal Guarantor Who Settled Company Debt Cannot Claim Financial Creditor Status: NCLATOTS Failure Cannot Create Fresh Default For CIRP, Original Debt Position Revives: NCLAT ChennaiCan NCLT Grant Blanket Immunity From...

NCLT Can Recall Fraudulently Initiated CIRP At Any Time; Applicants Have Public Duty Not To Mislead: Supreme Court

The Supreme Court has held that the National Company Law Tribunal (NCLT) can recall an order admitting insolvency proceedings if the jurisdictional facts on which the proceedings were based are later found to have been affected by fraud or collusion. The court, however, clarified that such a finding does not automatically mean that the entire Corporate Insolvency Resolution Process (CIRP) must end. Once insolvency proceedings are admitted, they become a collective process involving all...

Supreme Court Appoints Justice S.C. Gupte Arbitrator In JioStar-Green Bean Dispute Over IPL Media Rights In Bangladesh

The Supreme Court has appointed former Bombay High Court judge Justice S.C. Gupte as the Sole Arbitrator to resolve a dispute between JioStar India Pvt Ltd and Green Bean Sports Marketing. The dispute arises from an agreement under which JioStar granted Green Bean IPL media rights for the 2023-2027 seasons exclusively in Bangladesh.A bench comprising Chief Justice Surya Kant, Justices Joymalya Bagchi and V. Mohana allowed the petition and appointed Justice S.C. Gupte, former Judge of the Bombay...

Can NCLT Grant Blanket Immunity From Statutory Liabilities During CIRP? NCLT Jaipur Delivers Split Verdicts

The National Company Law Tribunal (NCLT), Jaipur Bench, on Monday delivered a split verdict on whether it can grant blanket protection from statutory, civil, and penal consequences arising from alleged defaults during a company's Corporate Insolvency Resolution Process (CIRP).Technical Member Kavita Bhatnagar held that such consequences must be examined by the authorities empowered under the respective statutes, while Judicial Member Reeta Kohli took a contrary view and allowed the application...

NCLAT Issues Notice To Eros On Phantom Studios' Insolvency Appeal

The National Company Law Appellate Tribunal (NCLAT), New Delhi, has issued notice to Eros International Media Ltd. in an appeal filed by Phantom Studios India Pvt Ltd against dismissal of its insolvency plea.The matter was heard by Judicial Member Justice Mohd Faiz Alam Khan and Technical Member Naresh Salecha. Although no one appeared for Phantom, the bench issued notice after noting that the Mumbai Bench of the National Company Law Tribunal (NCLT) had dismissed the insolvency petition.Earlier,...

LiveLawBiz IBC Weekly Digest: September 21 - September 27, 2026

SUPREME COURTByju's Insolvency: Supreme Court Reserves Verdict On CoC's Impleadment In Plea To Remove GLAS Trust From ItCase Title : The Committee of Creditors of Think & Learn Pvt Ltd vs Riju Raveendran & Ors Case Number : C.A. 2594/2026The Supreme Court on Monday reserved its verdict on a challenge by the Committee of Creditors (CoC) against its exclusion from proceedings concerning a plea to remove GLAS Trust Company LLC from the CoC of Think & Learn Pvt. Ltd. The challenge...

Can NCLT Allow Withdrawal Of CoC-Approved Resolution Plan? Supreme Court Reserves Verdict

The Supreme Court on Wednesday reserved its judgment on whether the National Company Law Tribunal can permit withdrawal of an application seeking approval of a resolution plan after the Committee of Creditors has approved the plan and submitted it to the Adjudicating AuthorityA Bench of Justices J.B. Pardiwala and K. Vinod Chandran was hearing Indian Bank's challenge against the National Company Law Appellate Tribunal's April 20, 2026, order concerning TD Toll Road Pvt Ltd, which had set aside...

Tax On Employee Seconded From Us To India: Ernst & Young Challenges Delhi High Court Ruling In Supreme Court

Ernst & Young US LLP has approached the Supreme Court challenging a Delhi High Court ruling which held that payments received in connection with employees sent from the US to work with Indian entities were taxable as Fees for Technical Services (FTS).The dispute concerns whether the amounts received by the US entity were merely reimbursement of salaries and other employment costs or consideration for technical services taxable in India under the India-US Double Taxation Avoidance Agreement...