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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...

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Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...

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Supreme Court Refers Group of Companies Doctrine to Larger Bench in Arbitration Dispute Over Software Agreement. Questions validity of applying the doctrine to bind non-signatory parent company to arbitration under Sections 8, 11, 35, and 45 of the Arbitration & Conciliation Act, 1996.

The petitioner, Cox & Kings Ltd., filed a petition under Section 11(6) read with Section 11(12)(a) of the Arbitration & Conciliation Act, 1996, seekin...

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Supreme Court Approves Compensation Scheme for Tribal Landowners in Coal Mining Acquisition - Mahanadi Coalfields Directed to Pay Compensation for Lands Acquired in 1987-1989. Market value determined as of 2010 survey date due to 28-year delay in compensation.

The case concerns the long-pending compensation claims of landowners, predominantly tribal communities, whose lands were acquired for coal mining by M...

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Supreme Court Upholds International Arbitral Award in Coal Supply Dispute — Damages Awarded for Breach of Contract. Division Bench of Delhi High Court Erred in Setting Aside Majority Award Under Section 37 of Arbitration and Conciliation Act, 1996 as Findings Were Plausible and Not Perverse.

The Supreme Court of India heard an appeal against a Division Bench judgment of the Delhi High Court that had set aside a majority international arbit...

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Bombay High Court Dismisses Petitions Challenging Transfer of Zilla Parishad Teachers to State Government — Transfer Policy Upheld as Administrative Decision Not Requiring Prior Consultation with Teachers' Unions.

The petitioners, various teachers' unions and associations, filed writ petitions challenging the transfer of Zilla Parishad primary school teachers to...