Month: September 2024

Delhi High Court Rules Final Determination Under VSV Act Cannot Be Reopened Via Section 154 Of Income Tax Act The Delhi High Court, bench comprising Justices Yashwant Varma and Ravinder Dudeja, has ruled that once a determination by the Designated Authority under the Direct Tax Vivad Se Vishwas Act, 2020 (VsV Act) has been finalized,

Interest Claims Require Contractual Basis, Not Just Invoice Terms: NCLT Kolkata The NCLT Kolkata Division Bench, comprising Bidisha Banerjee (Judicial Member) and D. Arvind (Technical Member), has ruled that interest cannot be added to the debt amount in the absence of a contractual agreement or clause within the purchase order. The Tribunal further clarified that

Sanjeev Gemawat Joins Essar Group As Managing Director And Group General Counsel Sanjeev Gemawat has been appointed as Managing Director and Group General Counsel at Essar Group, following his previous role as General Counsel at Vedanta Resources Limited. He is a distinguished professional, holding qualifications as a Chartered Secretary in both India and the UK,

Recently, the Himachal Pradesh High Court underlined the importance of pre-institution mediation under the Commercial Court Act (CCA) by refusing to hear a patents and designs infringement suit due to plaintiff’s non compliance with the above mandatory requirement. Discussing this order and its wider significance, we are pleased to bring to you this post by

Azure Power Appoints Praveen Singh As General Counsel Praveen Singh has joined Azure Power as General Counsel. A 2004 graduate of the Faculty of Law, Delhi University, Singh completed his LLM in Corporate and Investment Laws from NLSIU in 2007. With over 13 years of experience in the renewable energy sector, Singh brings extensive expertise

Criticizing The Government Memorandum Dated 03.06.2024: A Roadblock To Arbitration The Government of India recently released an Office Memorandum dated 03.06.2024 (hereinafter, “the Memorandum”) on Arbitration and Mediation in Public Procurement Contracts. The said Memorandum has blown a whiff of turbulence in the legal community specially when the Government itself is promoting India as a

IN RE: Insolvency And Bankruptcy Code, 2016 Versus Maharashtra Protection Of Interest Of Depositors (In Financial Establishments) Act, 1999. INTRODUCTION: The conflict between the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999 (“MPID Act”) and the Insolvency and Bankruptcy Code, 2016 (“IBC”) primarily revolves around the attachment and distribution of properties belonging

Power Of Arrest – Need For A Balanced Act The power of arrest is in a fiscal statute such as GST laws and is provided as a mechanism for investigation of tax evasion and enforcement of the law. The CGST Act1 provides for powers for conducting inspection, search, and arrest. While fiscal offenses are typically

Madhya Pradesh High Court Rules In Favor Of Mount Everest Breweries In Trademark Dispute Over Beer Label The Indore bench of the Madhya Pradesh High Court has recently granted a plea from Mount Everest Breweries Limited, challenging the registration of a similar beer label, “VASCO 60000 EXTRA STRONG BEER,” by a competing brewery. The challenge

SEBI’s Latest Move: A Game Changer For Alternative Investment Funds In Infrastructure In a move to consider the concerns of the Investee Companies wherein the Alternative Investment Funds (AIFs) are also one of the equity holders, the Securities and Exchange Board of India (SEBI) permitted that such AIFs to create encumbrance on equity holdings in