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Supreme Court Allows Appeal in Insolvency Case Due to Absence of Financial Debt Against Pledgor. Petition Under Section 7 IBC Not Maintainable as No Disbursement Was Made to Corporate Debtor, and Pledge Alone Does Not Constitute Financial Debt Under Section 5(8) of Insolvency and Bankruptcy Code, 2016.

The appeal arose from a judgment of the National Company Law Appellate Tribunal (NCLAT) dismissing an appeal against an order of the Adjudicating Auth...

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Supreme Court Dismisses Appeal in Benami Property Dispute Under Benami Transaction (Prohibition) Act, 1988. Plaintiffs Failed to Prove Property Was Held for Benefit of Hindu Undivided Family Coparceners Under Section 4(3)(a), Making Suit Barred Under Section 4(1).

The dispute originated from a civil suit filed by Laxmi Prasad, his wife, and two daughters against his two sons and subsequent purchasers, seeking de...

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Supreme Court Dismisses Petition Challenging OROP Policy Implementation for Ex-Servicemen. Periodic Revision Every Five Years Upheld as Not Arbitrary Under Articles 14 and 21 of the Constitution of India.

The dispute arose from a petition under Article 32 of the Constitution challenging the implementation of the One Rank One Pension (OROP) policy for ex...

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Supreme Court Allows Appeal in Consumer Protection Case, Reversing NCDRC's Dismissal on Consumer Status. Overdraft Facility Availed by Stockbroker for Business Qualifies as Consumer Service Under Exception for Self-Employment Livelihood in Section 2(1)(d)(ii) of Consumer Protection Act, 1986.

The appeal arose from a judgment of the National Consumer Disputes Redressal Commission (NCDRC) dismissing a consumer complaint on the ground that the...

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Supreme Court Allows Appeal in Income Tax Deduction Case for Pharmaceutical Freebies. Expenses on Gifting Freebies to Medical Practitioners Are Deductible Under Section 37(1) of Income Tax Act, 1961, as Indian Medical Council Regulations Only Prohibit Acceptance, Not Gifting, Under Explanation 1.

The dispute involved a pharmaceutical company, referred to as Apex, appealing against a High Court judgment that upheld orders disallowing part of its...