News Updates
Financial Benefits To Assessee Can't Be A Ground To Levy Interest Without A Statutory Provision: Bombay High Court
The Bombay High Court has ruled that penalty or interest on additional customs duty (CVD) and special additional duty of customs (SAD), or surcharge, which is not connected to the basic customs duty, cannot be imposed in the absence of an explicit substantive provision. The Division Bench of Justices K.R. Shriram and A.S. Doctor observed that there was no substantive provision...
Homebuyers Are In Default; NCLT Delhi Dismisses Plea For Initiation Of CIRP Against Developer
The National Company Law Tribunal (NCLT), New Delhi, while adjudicating a petition filed by Homebuyers / Allotees against Developer Company / IREO ("Amit Kumar Sinha & Ors. v. Ireo Private Limited"), has rejected the petition under Section 7 Application under Insolvency and Bankruptcy Code, 2016 ("IBC"), holding that if the allottees themselves are in default, the Corporate Debtor...
NCLT Depreciates Filing Of Bulky Applications By Resolution Professional & Liquidator
Recently, the National Company Law Tribunal, Principal Bench comprising of Justice Ramalingam Sudhakar and Mr. Avinash Srivastava expressed it displeasure upon the practise of Resolution Professional/ Liquidators for filing bulky applications even for trivial matters such as extension of liquidation period. The bench was adjudicating an application for extension of time moved by...
High Court Dismisses Plea Alleging Delhi Govt's Tender Conditions For Midday Meal Scheme Are 'Tailor-Made' For Existing Players
The Delhi High Court has dismissed a plea challenging the tender conditions set by Delhi Government with regard to the contract for preparation and supply of mid day meals to children of primary and upper primary classes of Government Aided Schools and Alternative and Innovative Education (AIE) Centres under the Samagra Shiksha Abhiyan. A division bench of Chief Justice Satish Chandra Sharma...
Initiation Of Proceedings Under The SARFAESI Act Does Not Bar The Arbitration Of Disputes: Delhi High Court
The Delhi High Court has ruled that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) provides a remedy in addition to the adjudication under the Arbitration and Conciliation Act, 1996 (A&C Act)and hence, initiation of proceedings under the SARFAESI Act does not bar the arbitration...
Cases Above Rs.100 Crores: Finance Ministry Notifies Exclusive DRT Benches
The Ministry of Finance has issued a notification dated 04.10.2022, whereby the jurisdiction of Debt Recovery Tribunal ("DRT") has been revised. The notification has been released under Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 and in supersession of the notifications of the Government of India, vide numbers G.S.R. 395 (E) dated the 29.05.2007 and S.O.3065 (E) dated...
Kerala Court Drops Culpable Homicide Charges Against IAS Officer Sriram Venkitaraman In 2019 Road Rage Case
The Additional District and Sessions Court, Trivandrum, on Wednesday, dismissed the culpable homicide charges that were framed against IAS Officer Sriram Venkitaraman and his friend, Wafa Firoz, in an alleged drunken driving case leading to death of journalist KM Basheer in 2019.The Court was acting upon the discharge petition been filed by Venkitaraman, contending that there was no...
'No Due Application Of Mind': Court Discharges Tahir Hussain & Others From Graver Offence In Delhi Riots Case
A Delhi Court on Wednesday discharged former Aam Aadmi Party Councillor Tahir Hussain and nine others from the charge of 'causing mischief by fire or explosive substance with intent to destroy a building', in a case of 2020 North-East Delhi riots. Additional Sessions Judge Pulastya Pramachala however remanded the case back to the Chief Metropolitan Magistrate (CMM) for trial of other...
Arbitral Tribunal Cannot Recall The Order Terminating The Arbitral Proceedings: Delhi High Court
The High Court of Delhi has held that once the arbitral tribunal terminates the arbitration proceedings on account of claimant withdrawing its claims, it cannot recall the order of termination order. The bench of Justice C. Hari Shankar held that once the arbitral proceedings are terminated, the arbitral tribunal becomes Functus Officio and it cannot entertain an application...
High Court Directs State To Provide Security, Education To Two Assam Girls Sexually Exploited In Kerala
The Kerala High Court on Monday ordered the State government to ensure the safety and education of two minor girls from Assam who had migrated to the State with their parents, but were unfortunately subjected to sexual abuse.Citing safety concerns, the Child Welfare Committee had refused to release the girls to their parents, who are daily wage labourers in Kerala, and had directed that the...
[Gyanvapi] Allahabad HC Seeks Hindu Worshippers' Suit Record From Varanasi District Judge In Mosque Committee's Revision Plea
In a revision plea challenging Varanasi Court's September 12 order in the ongoing Gyanvapi dispute, the Allahabad High Court has directed the District Judge, Varanasi to ensure that the entire records of the Hindu worshippers' suit are sent to the HC by the day after tomorrow (October 21).It may be noted that the instant revision plea has been moved by the Gyanvapi Masjid Committee challenging...
Notice Stating Right To Initiate Arbitration Not A Notice Under Section 21 of A&C Act: Delhi High Court
The Delhi High Court has ruled that a notice issued by a party, merely stating its right to initiate arbitral proceedings, which it would subsequently initiate if the payment was not made by the opposite party, is a unilateral communication which does not qualify as a notice under Section 21 of the Arbitration and Conciliation Act, 1996 (A&C Act). The Division Bench of Justices...