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 […]
The Supreme Court (“SC”) has in its judgment dated December 15, 2021 (“Judgement”), in the matter of Jharkhand Urja Vikas Nigam Limited v. The State of Rajasthan and Others [Civil Appeal No. 2899 of 2021], held that the Facilitation Council must before passing an award under the Micro, Small and Medium Enterprises Development Act, 2006 […]
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 […]
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 […]
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 […]
It gives us immense pleasure to share a landmark judgment, pronounced on 15 December, 2021 by the Hon’ble Delhi High Court allowing around 1400 writ petitions filed by assessees and quashing the notices issued by the Department under section 148 of the Income Tax Act, on and after 1st April, 2021, under the old law. […]
