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Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...

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High Court Quashes FIR Against Bank Officials and BGR Energy Executives in Bank Guarantee Dispute -- No Criminal Intent Found in Commercial Transaction Under IPC Sections 420, 403, 406, 418, 425, 427 read with 34

The High Court quashed an FIR registered against bank officials and company executives alleging criminal offences in connection with bank guarantee tr...

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Supreme Court Dismisses Power Trust's Appeal Against CIRP Initiation for Appellant(s), Upholds NCLAT Order Admitting Section 7 IBC Application Due to Default and Non-Compliance with Restructuring Conditions

The Supreme Court dismissed an appeal challenging the initiation of corporate insolvency resolution process (CIRP) against Hiranmaye Energy Ltd. under...

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High Court Dismisses Municipal Corporation's Challenge to Arbitral Award Setting Aside Penalties, Termination, and Blacklisting in Sewerage Treatment Plant Contract Dispute

The High Court of Bombay heard cross-petitions challenging an arbitral award dated 18 June 2020 in a dispute between Solapur Municipal Corporation and...

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High Court Dismisses Section 9 Petition for Post-Foreign Award Relief in Commercial Arbitration Dispute - Vessel Sale Prior to Petition Filing Renders Relief Infructuous

The High Court dismissed a commercial arbitration petition seeking interim measures under Section 9 of the Arbitration and Conciliation Act, 1996 to s...

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Supreme Court Upholds Enhanced Share Valuation, Awards Interest at 6% Pre-Decree and 9% Post-Decree in Decades-Old Dispute. Balancing Equity and Commercial Realities: SC Modifies Interest Rates in Rajasthan State Mines Share Acquisition Case

Valuation of Shares – The Supreme Court affirmed the High Court’s valuation of shares at ₹640 per share, rejecting the State’s objections. Th...

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National Company Law Appellate Tribunal Allows Appeals by Appellant Creditor in IBC Case -- Sets Aside Orders Directing Appellant to Approach GIDC Appellate Authority and Remitting Resolution Plan -- Termination of Lease During Moratorium Held Invalid Under Section 14 of IBC

The National Company Law Appellate Tribunal (NCLAT) allowed two appeals filed by the Resolution Professional (RP) and the largest financial creditor o...

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Public Interest Litigation – Suppression of Material Facts – Criminal Contempt – Maintainability of PIL. High Court dismissed the PIL on grounds of suppression of facts, lack of bona fides, and scandalizing the court. Criminal contempt was noted but no proceedings were initiated.

Litigants filing PIL must disclose all material facts and approach the court with clean hands. Scandalizing the court through social media can constit...

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Extension of Time for Hotel Construction Without Additional Lease Premium. Court Sets Aside CIDCO’s Termination Notice, Grants Extension for Hotel Project with Waiver of Additional Lease Premium

Arbitrary Action Violates Article 14: The Court held that CIDCO’s actions were arbitrary and violated the principles of equality under Article 1...

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Supreme Court of India Ruled on the Definition of ‘Consumer’ Under the Consumer Protection Act, 1986 in Loan Transactions

The Apex Court Held That a Borrower of a Project Loan Does Not Qualify as a ‘Consumer’ When the Loan is Availed for Commercial Purposes The Supre...