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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...

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Supreme Court Dismisses Appeal Against Rejection of Discharge in PMLA Case — Money Laundering Held to be Continuing Offence. Retrospective Application of PMLA Upheld Where Proceeds of Crime Remain in Circulation, Irrespective of When Scheduled Offence Was Committed.

The appellant, Pradeep Nirankarnath Sharma, was implicated in a money laundering case under the Prevention of Money Laundering Act, 2002 (PMLA) based ...

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Supreme Court Dismisses Appeals in Arbitration Act Case Regarding Foreign Award Enforcement. Non-Signatory Parties Not Bound by Arbitration Agreement Under Alter Ego Doctrine for Enforcement Under Part II of Arbitration and Conciliation Act, 1996.

The Supreme Court of India heard civil appeals concerning the recognition and enforcement of foreign awards under Part II of the Arbitration and Conci...

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Bombay High Court Allows Appeal in Income Tax Derivative Loss Set-off Case. Loss from derivatives trading on recognized stock exchange held not speculative under Section 43(5)(d) of Income Tax Act, 1961, and can be set off against other business income under Section 70.

The appellant, Souvenir Developers (I) Pvt. Ltd., is a domestic company deriving income from toll collection business and also trading in shares and d...

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Bombay High Court Grants Conditional Leave to Defend in Summary Suit for Recovery of Loan — Triable Issues Raised Regarding Limitation and Acknowledgment of Debt. Defendant's Application for Leave to Defend Allowed Subject to Deposit of 50% of Suit Amount Under Order XXXVII Rule 3(5) of CPC, 1908.

The plaintiffs, Carl Pinto De Andrade and others, filed a Commercial Summary Suit against Ventura Securities Limited for recovery of Rs. 1,00,00,000/-...

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Bombay High Court Allows Interest on Delayed Payment of Labour Court Award Under Section 33-C(2) of Industrial Disputes Act, 1947. Labour Court has power to award interest for period between date of award and actual payment to prevent miscarriage of justice.

The petitioner, Mrs. Prabhavati Ramgarib B., filed a writ petition challenging the order of the Central Government Industrial Tribunal and Labour Cour...