Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Calcutta High Court returned a plaint against a National Company Law Tribunal (NCLT) valuation, stating its lack of territorial jurisdiction and the statutory bar on interference in ongoing liquidation proceedings.
SEBI has amended the framework for handling clients' unpaid securities, introducing direct demat pay-out with auto-pledge. The new regulations set specific timelines for pledge invocation, release, and liquidation.
The Karnataka High Court ruled that writ petitions challenging civil trial court orders via certiorari are not maintainable during corporate insolvency. Parties must resort to statutory remedies under the CPC.
The Karnataka High Court ruled against quashing Canara Bank's IBC proceedings, reinforcing that writ petitions under Articles 226 and 227 are not maintainable against pending NCLT cases. This ruling preserves the integrity of the insolvency process.
The Kerala High Court set aside a rejection by the NCLT regarding additional objections, affirming the Tribunal's authority to permit such pleadings during Section 7 proceedings to ensure fair adjudication under IBC.
The Calcutta High Court found no territorial jurisdiction to hear the suit challenging the NCLT-ordered valuation and declined to interfere with the ongoing liquidation process. The ruling highlights the limitations of the High Court's jurisdiction in corporate insolvency matters.
The Telangana High Court has established a stringent six-point framework for the provisional release of seized imported second-hand goods, including a mandatory bank guarantee.
The Delhi High Court ruled that reimbursements paid to EY US for secondee services are taxable as Foreign Technical Services (FTS) under Indian tax law. The ruling rests on the premise that the secondees provided technical knowledge to EY India entities.
SEBI plans to restore open market buy-backs through stock exchanges after tax changes improved equity treatment, introducing new compliance safeguards.
SEBI proposes amendments to the SDI Regulations to align with the RBI's framework for securitisation, enhancing market support.
SEBI introduces a fast-track AIF framework that transfers accountability from regulatory pre-approval to merchant bankers and fund managers, posing both benefits and challenges for investor protection.
This article discusses the implications of the NCLAT ruling on CFO appointments, emphasizing compliance with Section 203 for private companies appointing KMPs.