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Supreme Court Dismisses Appeal by Suspended Director in IL&FS Accounts Reopening Case — Recasting Permitted Under Section 130 Companies Act. Court holds that SFIO and ICAI reports provide sufficient basis for reopening accounts and that suspended director lacks locus standi.

The case pertains to an appeal filed by Hari Sankaran, a suspended director of Infrastructure Leasing & Financial Services Limited (IL&FS), against th...

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Supreme Court Allows Appeal Against Debarment Without Hearing in Pharmaceutical Supply Contract. State's Indefinite Stoppage of Local Purchase from Supplier Based on Criminal Case Against Former Director Held Arbitrary for Violating Principles of Natural Justice.

The appellant, M/s Daffodills Pharmaceuticals Ltd., a pharmaceutical supplier, participated in a tender process called by the State of Uttar Pradesh f...