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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...

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Supreme Court Allows State's Appeal in Sales Tax Reimbursement Dispute — Clarifies That Sales Tax on Works Contracts Is Levied on Goods Component, Not on Completed Items of Work. Clause 45.2 of GCC Does Not Apply When Tax Is on Transfer of Property in Goods Involved in Works Contract.

The Supreme Court allowed the appeal filed by the State of Orissa against the judgment of the Orissa High Court. The dispute arose from works contract...

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Bombay High Court Allows Appeal by Maharashtra State Electricity Board Against Decree Declaring Demand Letter Illegal. Court Holds That Dispute Regarding Meter Accuracy Must Be Referred to Electrical Inspector Under Section 26(6) of the Indian Electricity Act, 1910, and Civil Suit Is Not Maintainable.

The Maharashtra State Electricity Board (Board) appealed against a decree passed by the Civil Judge, Senior Division, Kalyan, which declared a demand ...