AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLT Mumbai has granted a waiver under Section 244(1)(b) in an oppression and mismanagement petition, allowing it to proceed for further hearing. This highlights the procedural flexibility in managing shareholder disputes.
The Kerala High Court has ruled that amendments to stamp duty regulations following amalgamation and demerger cannot apply retroactively. The court quashed demands for stamp duty under new regulations for transactions preceding these changes.
The Directorate General of Foreign Trade (DGFT) has launched the 'Niryat Disha' Mission, aimed at enhancing the global branding of Indian exports. The initiative includes a Trust Mark certification and significant financial support for campaigns.
The amended SEBI Buyback Regulations restore the stock exchange route and revise shareholder notification requirements, also making Merchant Banker appointment optional.
NCLT Mumbai has granted a waiver under Section 244(1)(b), dismissing a maintainability objection and allowing an oppression and mismanagement petition to proceed for further hearing.
The Karnataka High Court has clarified that disqualification under Section 164 does not vacate an office in a defaulting company while directing reactivation of the DIN post-disqualification.
The NCLAT has ruled that advances for the supply of goods constitute operational debt under the consortium agreement, setting aside the prior rejection of a Section 9 application and restoring it for admission.
The DRAT has affirmed that a bank can pursue recovery against mortgaged property despite a matrimonial dispute raised by the borrower, reinforcing creditor rights.
The Debt Recovery Appellate Tribunal upheld Kotak Mahindra’s right to proceed against a debtor's mortgaged property despite an ongoing insolvency claim, restoring civil arrest for willful default.
The Kerala High Court dismissed a plea challenging recovery proceedings of ₹26 crores, noting the borrower's failure to disclose MSME status and deposit a specified amount for a revival plan.
The Karnataka High Court clarified the implications of disqualification under Section 164, stating that it does not vacate an office in defaulting companies, and ordered the reactivation of DIN post-disqualification.
The NCLT has admitted a Section 7 plea against SWAL Limited, determining that an interest-bearing inter-corporate loan constitutes financial debt under the IBC and commencing the Corporate Insolvency Resolution Process.
The NCLAT has ruled that APDCL must pay ₹37.66 lakh with interest to the liquidator of Brahmaputra Rolling Mills, highlighting the distinct legal status of companies under the IBC. The tribunal rejected the set-off plea based on mutual dealings.