Context The Hon’ble Supreme Court of India in Union of India & ANR. vs. Filco Trade Centre Pvt Ltd ANR[1] granted an extended period in which taxpayers can claim credit of taxes of Pre-GST acts by filing GST Form TRAN-1 and TRAN-2. The Respondent, Filco Trade Centre Pvt Ltd, challenged the constitutional validity of the […]
The National Company Law Tribunal, Kolkata (“NCLT”), in its order dated May 30, 2022, in the matter of Star India Private Limited v. Advance Multisystem Broadband Communications Limited (I.A. No. 841/KB/2020) combined with Shri Kuldeep Verma, Resolution Professional of Advance Multisystem Broadband Communications Limited v. IndusInd Media and Communications Limited and Others (I.A. No. 1288/KB/2020) held […]
The Gujarat High Court (“GHC”) has in its judgment dated June 10, 2022 (“Judgment”), in the matter of Kanhai Foods Limited v. A and HP Bakes [R/First Appeal No. 2638 of 2021], held that issues involving enforcement of the conditions of a contract cannot be the subject matter of an application for interim measures under […]
The Securities and Exchange Board of India (“SEBI”) has, in its order dated June 20, 2022, in the matter of M/s. Reliance Industries Limited (Adjudication Order No. ORDER/BM/LD/2022-23/17202-04) held that a company cannot abdicate its responsibility to verify a news article that has appeared in the newspaper. Facts SEBI conducted an investigation in the suspected insider […]
The Hon’ble Supreme Court (“SC”) has in its judgment dated June 3, 2022, in the matter of Vallal RCK v. M/s. Siva Industries and Holdings Limited and Others [Civil Appeal Nos. 1811-1812 of 2022], held that the NCLT/NCLAT should not sit in appeal over commercial wisdom of the Committee of Creditors (“CoC”) to allow withdrawal […]
The 47th GST Council (the ‘Council’) meeting was held on 28th and 29th June, 2022, under the chairmanship of Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman. During the course of the meeting, the Council dealt with important issues and in retrospect, issued Press Release with its recommendations. Overview of Recommendations: The Council has, […]
