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Scope of Commercial Disputes under the Commercial Courts Act: Assignment of Debt Outside Ambit of Section 2(1)(c). A dispute must arise from ordinary transactions of merchants, bankers, financiers, or traders to qualify as a commercial dispute under the Commercial Courts Act, 2015.

Heading 1: Nature of the Suit and Interim Application The suit was filed as a summary suit under Order XXXVII of CPC for recovery of Rs. 800 crores...

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Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that no fresh dispute on AGR dues can be raised after final judgment and that spectrum cannot be subject of IBC proceedings.

The Supreme Court was hearing miscellaneous applications in the ongoing litigation concerning the definition of Adjusted Gross Revenue (AGR) and the p...

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Supreme Court Examines Bona Fides of Insolvency Proceedings by Telecom Service Providers to Avoid AGR Dues. The Court held that AGR dues are final and no fresh disputes can be raised, and directed examination of whether insolvency proceedings under IBC are a subterfuge.

The Supreme Court was hearing applications in the ongoing AGR dues matter, where the Union of India sought extension of time for payment. The Court ha...

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Supreme Court Allows MTNL's Appeal Against Arbitration Order in Bond Dispute with Canara Bank. The Court held that arbitration proceedings cannot continue without a written arbitration agreement and without the consent of all necessary parties, specifically CANFINA.

The case involves a dispute between Mahanagar Telephone Nigam Ltd. (MTNL) and Canara Bank regarding bonds issued by MTNL. In 1992, MTNL floated bonds ...

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Supreme Court Dismisses Appeal by Suspended Director in IL&FS Accounts Reopening Case — Recasting Permitted Under Section 130 Companies Act. Court holds that SFIO and ICAI reports provide sufficient basis for reopening accounts and that suspended director lacks locus standi.

The case pertains to an appeal filed by Hari Sankaran, a suspended director of Infrastructure Leasing & Financial Services Limited (IL&FS), against th...

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Supreme Court Holds Section 15J Factors Illustrative in SEBI Penalty Adjudication. Adjudicating Officer Retains Discretion to Consider Mitigating Circumstances Beyond Stipulated Factors Under SEBI Act.

The Supreme Court of India adjudicated a reference arising from multiple civil appeals concerning the interpretation of Section 15J of the Securities ...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Hotel Management Contract Dispute — No Interference Under Section 34 as Findings Are Plausible. Arbitrator's Finding of Breach of Contract and Award of Damages Upheld as Not Perverse or Contrary to Public Policy.

The petitioner, Hotel Corporation of India Ltd., challenged an arbitral award passed by a sole arbitrator under Section 34 of the Arbitration and Conc...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Classification Dispute. Income from Hotel Management Agreement Held to be Business Income Under Section 28 of Income Tax Act, 1961.

The case involved an appeal by the Revenue under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal. Th...

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Bombay High Court Dismisses Revocation of Leave Under Clause 12 Letters Patent and Allows Amendment to Plaint on Jurisdiction. Court holds that jurisdiction is determined by plaint averments as a whole and subsequent amendment cannot cure lack of jurisdiction at the time of filing.

The plaintiff, Infrastructure Leasing & Financial Services Limited, filed a suit in the Bombay High Court for recovery of Rs. 3,72,87,086/- with inter...