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Supreme Court Allows Secured Creditor's Appeal in Customs Duty Priority Dispute Over Wound-Up Company's Hypothecated Goods. Held that customs authorities do not have priority over secured creditors under Section 529A of Companies Act, 1956 for sale of warehoused goods under Customs Act, 1962.

The appeal by Industrial Development Bank of India (IDBI) challenged the judgment of the Andhra Pradesh High Court which held that customs authorities...

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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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KAHC010159832015_1

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Karnataka High Court Allows Online Liquor Delivery Platform in Excise License Dispute. The court held that the petitioner's order processing and delivery services do not amount to 'sale' under the Karnataka Excise Act, 1965, and quashed the Excise Commissioner's letter demanding a license.

The petitioner, Hip Bar Pvt. Ltd., is a company incorporated under the Companies Act, 2013, offering a semi-closed prepaid payment instrument (mobile ...

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High Court of Judicature at Bombay Hears Challenge to Induction of Non-Legislator Ministers with Less Than Six Months Remaining in Assembly Term. Conformity of Such Induction with Article 164(4) of the Constitution of India Questioned.

The High Court of Judicature at Bombay heard two writ petitions under Article 226 of the Constitution of India filed by Vijay Namdeorao Wadettiwar (a ...

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Supreme Court Considers Scope of Section 45 of Arbitration and Conciliation Act in International Commercial Disputes. Multiple Issues Framed on Reference to Arbitration in Multi-Party Joint Venture Agreements.

The dispute arose from a series of joint venture and ancillary agreements executed between Indian company Chloro Controls (I) P. Ltd. and foreign coll...

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Bombay High Court Dismisses Winding-Up Petition by Deutsche Bank Against Finolex Industries Under Section 433(e) Companies Act, 1956 — Disputed Derivative Transaction Debt Precludes Summary Winding-Up. Court Holds That Winding-Up Petition Is Not a Debt Recovery Mechanism and Dismisses Petition with Costs.

The judgment arises from a Company Petition filed by Deutsche Bank AG, Mumbai Branch, seeking winding-up of Finolex Industries Limited under Section 4...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Case Regarding Taxation of Forest Tree Sale Proceeds. Proceeds from 'Clear Felling' of Spontaneous Growth Trees Leaving Stumps for Regeneration Held to be Revenue Receipt under the Income Tax Act, 1922.

The Supreme Court of India addressed the taxability of proceeds from the sale of forest trees under a 'clear felling' agreement. The assessee's father...

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High Court of Karnataka Quashes NCLT Order Directing State to Permit Windmill Operations in Insolvency Case. NCLT Exceeded Jurisdiction by Exercising Judicial Review Over Administrative Decision, Following Supreme Court Decision in Embassy Property Developments v. State of Karnataka.

The dispute arose out of insolvency proceedings against M/s Wind World (India) Limited, which held a lease over forest land for operating windmills. T...