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KAHC030058312022_1

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Supreme Court Allows Appeal in IBC Section 7 Application — Cumulative Redeemable Preference Shares Held as Debt, Not Investment. The Court held that CRPS constitute a debt under Section 3(11) of IBC, 2016, and the appellant is a financial creditor entitled to file an application under Section 7.

The appeal arises from the dismissal of the appellant's application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by the NCLT and ...

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High Court of Karnataka Quashes Clarification and Declares CGST Rule 31A(3) Ultra Vires in Favor of Turf Clubs. GST Liability on Betting Amount Limited to Commission Retained, Not Entire Totalisator Collection, Under CGST Act, 2017.

The two writ petitions were filed by Bangalore Turf Club Limited and Mysore Race Club Limited, companies conducting horse racing and facilitating bett...

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Karnataka High Court Dismisses PIL Challenging Validity of Karnataka Parliamentary Secretaries Allowances Act, 1963 and Appointment of Parliamentary Secretaries. The Court held that the Act is within legislative competence and appointments are valid under Article 164(1-A) of the Constitution.

The judgment pertains to two Public Interest Litigation (PIL) petitions filed before the Karnataka High Court challenging the constitutional validity ...