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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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Bombay High Court Examines Validity of Deemed Membership under Maharashtra Cooperative Societies Act. Transfer of Leasehold Plot through Auction Challenged as Violative of Society Byelaws and Lease Deed Conditions.

The Writ Petition arises from a dispute concerning deemed membership in a cooperative housing society. The petitioner, The Sopan Baug Cooperative Hous...

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NCLAT Dismisses Appeal by Suspended Director Against Admission of Section 9 Application by Operational Creditor. Pre-existing Dispute Not Established as Operational Creditor's Claim for Refund of Advance Payment Was Not Disputed Prior to Demand Notice Under Section 8 of Insolvency and Bankruptcy Code, 2016.

The appeal was filed by Bhawani Prasad Mishra, a suspended director of B.S. Ispat Pvt. Ltd. (Corporate Debtor), challenging the order dated 26.03.2025...

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High Court of Karnataka Quashes ITAT's Rectification Order in Income Tax Case — Tribunal Exceeded Jurisdiction Under Section 254(2) by Reviewing Its Own Decision. Mistake Apparent from Record Must Be Obvious and Not Require Re-appreciation of Evidence.

The petitioner, M/s. I.G. Petrochemicals Ltd., an assessee under the Income Tax Act, 1961, filed a writ petition challenging the order dated 05.09.202...

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Bombay High Court Considers Legality of Customs Broker Licence Suspension Due to Delay in Submitting Inquiry Report. Interpretation of Regulation 20(5) of Customs Brokers Licensing Regulations, 2013 — Whether Time Limit of 90 Days for Inquiry Report is Mandatory or Directory.

A group of customs appeals was filed by the Principal Commissioner of Customs (General), Mumbai, against various customs broker licence holders before...

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Bombay High Court Dismisses Management's Petitions in Teacher Termination Case. Repeated Denovo Enquiries After Quashing for Non-Compliance of MEPS Rules 36 and 37 Are Not Permissible.

The case involves two writ petitions filed by the Head Master (brother of the President) and the President of an educational institution challenging t...

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Bombay High Court Dismisses Management's Petitions Challenging School Tribunal's Order Quashing Termination of Teacher. Repeated Denovo Enquiries After Earlier Enquiries Are Quashed for Non-Compliance of Rules 36/37 of MEPS Rules, 1981 Are Impermissible.

The judgment involves two writ petitions filed by the Head Master (brother of the President) and the President of the educational institution, challen...