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GST Cafe | Properties leased in the nature of a hostel

A division bench of the Hon’ble High Court of Karnataka (“HC”) by overruling the observations of the Karnataka Appellate Authority for Advance Rulings (“KAAAR”) in a recent judgment of Taghar Vasudeva Ambrish v. AAAR Karnataka & Ors.[1] has held that residential premises leased for use as hostel premises are covered under the scope of the […]

Between the Lines | Supreme Court: An arbitral tribunal constituted in violation of the neutrality clause under Section 12(5) of the Arbitration and Conciliation Act, 1996 will lose its mandate and cannot be given effect

The Hon’ble Supreme Court (“SC”) has in its judgment dated January 4, 2022 (“Judgment”), in the matter of Ellora Paper Mills Limited v. The State of Madhya Pradesh [Civil Appeal No. 7697 of 2021] held that an arbitral tribunal constituted in violation of the neutrality clause under Section 12(5) of the Arbitration and Conciliation Act, […]

Between the Lines | Supreme Court: An arbitrator has the power to grant post-award interest on the interest amount awarded under the Arbitration and Conciliation Act, 1996

The Hon’ble Supreme Court of India (“SC”) has in its judgement dated January 7, 2022 (“Judgement”), in the matter of UHL Power Company Limited v. State of Himachal Pradesh [Civil Appeal Nos. 10341 and 10342 of 2011], held that an arbitrator has the power to grant post-award interest on the interest amount awarded under the […]

Between the Lines | NCLAT: A ‘Successful Bidder’ cannot make ‘conditional bids’ or withdraw bid after paying earnest money deposit

The National Company Law Appellate Tribunal (“NCLAT”) has in its judgment dated January 11, 2022 (“Judgement”), in the matter of Visisth Services Limited v. Mr. S. V. Ramani and Others [Company Appeal (AT) (Insolvency) No.896 of 2020], held that a ‘Successful Bidder’ cannot wriggle out of the contractual obligations and withdraw the bid after payment […]

Between the Lines | Supreme Court: Guarantor is barred from being a resolution applicant under Section 29A(h) of the Insolvency and Bankruptcy Code, 2016 if guarantee has been invoked by any creditor, not necessarily being the creditor initiating the insolvency proceedings

The Hon’ble Supreme Court (“SC”) has in its judgment dated January 18, 2022 (“Judgement”) in the matter of Bank of Baroda and Another v MBL Infrastructures Limited and Others [Civil Appeal No. 8411 of 2019] held that once a personal guarantee is invoked by any creditor, notwithstanding the fact that the application initiating the corporate […]

Webinar on “Analysis of Union Budget” | Presentation and Video Link

Vaish Associates organised a Budget Webinar on 4th February, 2022 which was chaired by Mr. Ajay Vohra, Senior Advocate, the leading legal luminary and one of the most respected jurists, who lead the discussions along with Partners of Vaish Associates. Please find below link of video and presentation analyzing threadbare, the proposals of Finance Bill […]