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Bombay High Court Dismisses BCCI's Challenge to Arbitral Award in Media Rights Dispute. Court upholds arbitrator's finding that termination of Media Rights License Agreement was illegal and that Nimbus Communications was entitled to damages.

The petitioner, Board of Control for Cricket in India (BCCI), filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996, challen...

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NCLAT Dismisses Liquidator's Appeal Seeking Return of Bank Guarantees and Margin Money Post-Invocation. Bank Guarantee Invocation Extinguishes Both Margin Money and Bank's Liability, Liquidator Cannot Claim Refund.

The case involves an appeal by Mr. Rajendra Prasad Tak, the Liquidator of M/s. KVK Nilachal Power Pvt. Ltd. (Corporate Debtor), against an order of th...

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Supreme Court Dismisses Appeal in Electricity Regulatory Dispute Over Tariff Determination. Appellate Tribunal and Regulatory Commission Orders Upheld as Power Purchase Agreements Were Properly Interpreted Under Section 63 of Electricity Act, 2003 and Statutory Guidelines.

The Supreme Court considered an appeal challenging the judgment and order dated 30th June 2021 passed by the Appellate Tribunal for Electricity, which...

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Supreme Court Adjudicates Tax Treatment of Compensation for Partial Termination of Selling Agency under Income Tax Act, 1922. The Court considered whether the sum received by the assessee for termination of agency rights outside Hyderabad State constituted a capital receipt or revenue receipt.

Background: The case involved the income tax assessment of the respondent, a registered firm carrying on business as selling agents and distributors o...