Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The article elucidates that for government companies, approval for demergers must be obtained from the Central Government, not the NCLT, following the 2017 MCA notification.
The NCLT has approved stakeholder meetings for Refex Composite after clarifications on warrant forfeiture and compliance with the Companies Act. This decision allows shareholders and creditors to participate in the proposed scheme.
The Tripura High Court acquitted a defendant in a cheque bounce case due to failure to serve a valid statutory notice to the accused, underlining the necessity for adherence to Section 138 NI Act.
In a recent ruling, the NCLT determined that an unapproved bank transfer does not constitute a preferential transaction under the IBC.
The NCLT ruled that dues from TReDS are operational debts rather than financial debts, rendering a Section 7 IBC insolvency petition unmaintainable.
NCLT confirmed that a ₹200 crore capital infusion proposed in a resolution plan is distinct from the creditor settlement, thereby approving Hind Agro's plan under the IBC.
NCLT ruled that a bank appropriating a corporate debtor's funds cannot be defined as a preferential transaction absent the debtor's action indicating preference. This sheds light on creditor recovery measures.
NCLT ruled that a unilateral bank transfer does not qualify as a preferential transaction absent evidence of preference by the corporate debtor. The tribunal dismissed a claim against Sintex Industries on these grounds.
NSE provides FAQs to clarify issues related to the Quarterly Integrated Filing Governance reports, ensuring compliance with SEBI’s framework.
SEBI has established new regulations allowing AIFs to retain liquidation proceeds under certain conditions during the winding process to protect investor interests.
SEBI has revised its guidelines regarding early pay-in facilities in commodity derivatives, allowing Clearing Corporations to waive certain margins while enforcing others.
The Orissa High Court ruled that excise duty cannot be collected again on a transaction for which it has already been paid, supporting the principles of fair taxation.