Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Bombay High Court has upheld the IBBI's Regulation 31A, permitting a 0.25% regulatory fee on the realisable value to creditors. This affirmation assures the standing of IBBI as a regulatory body during the Corporate Insolvency Resolution Process (CIRP).
The Supreme Court limits writ jurisdiction in arbitration cases, specifying that writs can only be entertained in instances of a clear lack of jurisdiction. This ruling develops the understanding of the interplay between Section 16 objections and extraordinary relief in arbitration contexts.
Former Chief Justice of India DY Chandrachud has been appointed as an arbitrator in a significant investment treaty dispute between Russia and Ukraine's state-owned Oschadbank. This appointment enhances India's recognition in international arbitration.
The Karnataka High Court ruled that the corporate veil of a non-signatory entity cannot be lifted at the interim stage in relation to a shareholder's arbitration agreement, reinforcing the integrity of corporate structures.
The National Company Law Tribunal (NCLT) has ordered a status quo in a directorship dispute involving an arbitration clause, emphasizing the need for the parties to maintain the current management structure until further hearings can take place. This ruling reinforces the principles of corporate governance.
The National Company Law Tribunal ruled that the resolution professional can recover and preserve corporate debtor’s electric vehicle assets during the Corporate Insolvency Resolution Process, leaving pending dues claims for separate adjudication.
The NCLT has ruled that the resolution professional can recover and preserve the assets of a corporate debtor during the corporate insolvency resolution process (CIRP), despite any existing arbitration agreements. This ruling clarifies asset recovery during insolvency proceedings.
The National Company Law Tribunal (NCLT) has ruled that an arbitration agreement does not prevent the recovery of a corporate debtor's electric vehicle assets during the Corporate Insolvency Resolution Process (CIRP), leaving a claim of ₹1.14 crore open for separate adjudication.
The Calcutta High Court has appointed an arbitrator to resolve a dispute regarding unpaid allocations tied to false Income Tax disclosures by a builder. This ruling emphasizes the legal standing of arbitration in such disputes.
The Delhi High Court has authorized the release of $99 million in foreign arbitral awards to Vedanta and Ravva Oil, rejecting the Central government's objections. The enforcement petition brought by the companies was granted by Justice Jasmeet Singh.
Chief Justice of India Surya Kant has expressed concerns that modern international arbitration is becoming as complex and costly as the litigation it was intended to simplify. His remarks highlight the need for reform in arbitration processes.
NCLT Mumbai ruled that the existence of an arbitration clause does not prevent the initiation of Corporate Insolvency Resolution Process (CIRP) under the IBC when there is proven default.