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Supreme Court Allows Appeal of Resolution Professional in IBC Moratorium Dispute. Section 14(1)(d) of Insolvency and Bankruptcy Code, 2016 prohibits owner from recovering property occupied by corporate debtor during moratorium, even under joint development agreement.

The appeal arose from a dispute concerning the interpretation of Section 14(1)(d) of the Insolvency and Bankruptcy Code, 2016 (IBC). The appellant, Ra...

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Bombay High Court Allows Revenue's Appeal in Income Tax Case Regarding Redemption Fine as Business Expenditure. Redemption fine of Rs. 75,00,000 paid for unauthorized import of almonds held allowable as business expenditure under Section 37 of the Income Tax Act, 1961.

The appeal was filed by the Principal Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which allowed the asses...

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Bombay High Court Allows Writ Petition Challenging SAFEMA Forfeiture Orders — Bank's Mortgage Rights Protected as Prior Encumbrance. The Court held that forfeiture under Section 7 of SAFEMA does not extinguish a prior bona fide mortgage created before the issuance of the show cause notice.

The Petitioner, Development Credit Bank Ltd., filed a writ petition under Article 226 of the Constitution of India challenging an order dated 12th Mar...

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Bombay High Court Dismisses Section 9 Petition for Lack of Jurisdiction in Commercial Arbitration Dispute. Exclusive jurisdiction clause in agreement conferred jurisdiction on Hyderabad courts, not Bombay High Court.

The petitioner, Aniket SA Investments LLC, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim measures pe...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Bombay High Court Dismisses Appeal Against Refusal to Refer Dispute to Arbitration Under Section 8 of Arbitration and Conciliation Act, 1996 — Joint Venture Agreements Not Signed by Appellant, No Arbitration Agreement Between Parties.

The appeal arose from an order dated 8 April 2004 passed by the learned trial Judge dismissing Notice of Motion No. 778 of 2004, which was an applicat...