Between the Lines | NCLT: The shareholders are different from lenders

The National Company Law Tribunal, Mumbai (“NCLT”) has in its judgment dated November 29, 2021 (“Judgement”), in the matter of Hubtown Limited v. GVFL Trustee Company Private Limited [M.A. 2411/2019 IN C.P. 4128/I&B/MB/2018 and others], held that shareholders are different from lenders. Facts Hubtown Limited (“Corporate Debtor”) was earlier known as Ackruti City Limited. The […]

Competition News Bulletin – January 2022 – Newsletter

We are glad to share the January 2022 edition of our newsletter – Competition News Bulletin. Some highlights of this issue are as under: Competition Commission of India (CCI) imposes penalty on beer cartel CCI directs investigation against Apple CCI directs investigation against Google CCI imposes penalty on Amazon, suspends approval The Bulletin, now in the […]

GST Café | Return filing amendments applicable with effect from 1st January 2022: CBIC

The Central Board of Indirect Taxes and Customs (‘Board’), vide Notification No. 39/2021-Central Tax[1]  has  notified that Section 108, 109, 115, 116 and 120 of the Finance Act, 2021 (“the Act”), which seeks to amend various provisions of the Central Goods and Services Act, 2017 (“CGST Act”). These provisions will come into force from 1st […]

GST Café | Service Tax on Interchange fees: Divergent Views by the Supreme Court

A Division Bench of the Hon’ble Supreme Court (“SC”) comprising of Justice KM Joseph and Justice S. Ravindra Bhat, in a recent judgment of Commissioner of GST and Central Excise v. M/s. Citi Bank[1] held that interchange fee is a taxable service covered by the taxing entry for credit card services and under the negative […]