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High Court Validates DRAT Order for Pre-Deposit Calculation in Secured Asset Auction Dispute. Pre-deposit determination upheld as per SARFAESI Act, focusing on "debt due" over auction value.

The Bombay High Court upheld the DRAT's order mandating a pre-deposit based on "debt due" when the measures under Section 13(4) of the SARFAESI Act we...

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Bombay High Court Considers Interim Application for Judgment on Admissions in Admiralty Suit. Plaintiff Seeks Relief Under Order XII Rule 6 of Code of Civil Procedure, 1908, Alleging Admissions by Defendants.

The present matter concerns an interim application filed by the plaintiff, Raj Transport and Trading Company, in the pending Admiralty Suit No. 17 of ...

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Supreme Court Dismisses Assessee's Claim to Treat Compensation as Capital Receipt Under Income Tax Act. Lump sum payment received by managing agent for reduction in remuneration held to be revenue receipt as it was in lieu of future profits and not for loss of managing agency.

The assessee firm, M/s. Godrej & Company, was appointed managing agent of a limited company for thirty years from November 9, 1933, under an agreement...

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Supreme Court Adjudicates Appeals by Sahara Companies on SEBI's Regulatory Powers Over OFCDs. Case centers on Section 55A(b) Companies Act and compliance with DIP Guidelines for issuance of optionally fully convertible debentures.

The case involved two Sahara Group companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited ...

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Supreme Court Quashes NCLT Approval and NCLAT Judgment in Bhushan Power CIRP, Remands for Fresh Resolution Plan. Approved Plan Set Aside Due to Inordinate Delay, Illegal Extension Clause, Waterfall Violation, and Non-Compliance with IBC Provisions Including Sections 30, 31, and 53.

The Supreme Court adjudicated a batch of civil appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the approval of ...