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Bank’s Oversight: Supreme Court Upholds Procedural Compliance in Auction Sales under the SARFAESI Act
SC affirms the need for strict procedural compliance in bank auctions, reinstates tenants, and mandates interest on returns.
Apr 29, 20243 min read
Reserve Bank of India - Master Directions on Asset Reconstruction Companies, 2024
Introduction The Reserve Bank of India ( ‘RBI’ ) released the Master Direction – Reserve Bank of India (Asset Reconstruction Companies)...
Apr 29, 20245 min read
Interim Moratorium Does Not Commence If Application Is Filed Before a Forum Devoid of Jurisdiction
Discover how a jurisdiction error impacted a case on interim moratoriums, setting a significant legal precedent.
Apr 29, 20244 min read
Cooperating with Resolution Professionals: A Cornerstone of Effective Resolution
Explore how Section 19 of the IBC mandates key cooperation for effective insolvency resolution, impacting all stakeholders involved.
Apr 27, 20249 min read
Bombay High Court Prohibits Issuance of S. 148 Tax Notices Following Approval of Corporate Resolution Plans
Bombay HC declares S. 148 notices void post-resolution, ensuring clean slates for companies under new management.
Apr 27, 20242 min read
Understanding the Legal Importance of Notes of Accounts in Financial Statements
Supreme Court rules: Omitting notes from balance sheets can disqualify bidders—key for legal compliance!
Apr 27, 20243 min read
Cross-Empowerment under GST: Madras High Court Examines Jurisdictional Boundaries
Madras HC clarifies GST cross-empowerment: Central vs State tax authority jurisdiction reaffirmed for procedural clarity.
Apr 25, 20243 min read
[Supreme Court] Unfounded Conclusions or Awards That Disregard Evidence Are Legally Flawed and Can Be Challenged on Grounds of Patent Illegality
SC uses inherent powers to correct perverse arbitral awards in DMRC vs. DAMEPL, emphasizing the significance of patent illegality.
Apr 24, 20245 min read
Arm’s Length Principle in Transfer Pricing: A Conceptual Analysis
The arm’s length principle is the international standard for determining the taxability of profits resulting from transactions between...
Apr 23, 20248 min read
Rajasthan High Court Clarifies Limitation Period under Section 263 of the Income-tax Act, 1961
The Rajasthan High Court ruled that the limitation period for Section 263 revision should be calculated from the original assessment date.
Apr 22, 20242 min read
NCLT Proceedings Prevail Over Enforcement Directorate Proceedings
Kerala HC ruling emphasizes IBC's authority over PMLA, allowing asset liquidation to proceed balancing legal and creditor interests.
Apr 22, 20243 min read
Beyond the Guidelines: Delhi High Court Upholds Statutory Provisions in Compounding Applications
Delhi HC: Admin guidelines can't override statutes in compounding applications, ensuring fair balance in Earthcon Constructions case.
Apr 20, 20242 min read