Legal 60

Vedanta’s Mega Demerger Gets SEBI Nod After Compliance Reprimand; NCLT Mumbai to Reopen Hearing on November 12 Introduction The National Company Law Tribunal (NCLT), Mumbai Bench, recently recorded that the Securities and Exchange Board of India (SEBI) has granted its no-objection to the revised demerger plan of Vedanta Limited, following earlier compliance concerns. The plan

CESTAT Confirms Service Tax Demand on Gurukripa Shahenshah Restaurant: False Claim of No Air-Conditioning Held as Tax Evasion Attempt Introduction The Principal Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) dismissed the appeal filed by M/s Gurukripa Shahenshah Veg & Non-Veg Restaurant, affirming the service tax demand and associated penalties. The Tribunal

CESTAT Holds Service Tax Not Applicable on Advances Received for Land Transactions Introduction The New Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that the amount of advance received by the assessee towards the sale of land does not attract service tax, as such transactions are beyond the scope of

Shardul Amarchand Mangaldas & Co advised Verlinvest S.A. on its investment in Eye Foundation Limited The leading law firm in India, Shardul Amarchand Mangaldas & Co, advised Verlinvest S.A. on its investment in Eye Foundation Limited (EFL), involving both primary and secondary components, resulting in Verlinvest acquiring approximately 20% shareholding in EFL. This transaction reinforces

ITAT Mumbai Strikes Down ₹445 Crore Tax Hit on Netflix India: Says ‘Streaming Access Is Not Royalty, Nor Risk-Bearing Enterprise Introduction The Income Tax Appellate Tribunal (ITAT), Mumbai, has set aside a ₹445 crore transfer pricing adjustment imposed on Netflix India for the financial year 2021–22, decision in favour of the streaming platform and rejecting

CESTAT Upholds Digital Trail: Excel Sheet from Assessee’s Gmail Deemed Valid Evidence Without Section 138C Certificate Introduction The New Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) clarified the evidentiary requirements for electronic documents under the Customs Act, 1962. The Tribunal held that an Excel sheet retrieved from the assessee’s own

Khaitan & Co Successfully Represented Borosil Limited In A Trademark And Copyright Infringement Case Before The Bombay High Court The leading law firm in India, Khaitan & Co successfully represented Borosil Limited (Plaintiff) in a suit for infringement of trademark, copyright, and passing off in relation to its registered mark and corporate name “Borosil” before

Analysts state tech spending will assess stock market’s AI trade Investors wary of parallels with the dot-com market bubble 25 years ago Market analysts have claimed that the recent spending updates from U.S. mega-cap companies investing massively in artificial intelligence (AI) could jolt the AI trade, a primary driver of the record-breaking U.S. stocks. Considered

Nvidia makes history amidst rise in global AI; marks $5 trillion valuation Its advanced chips have been a turning point in the tech rivalry between the U.S. and China American technology company, Nvidia has secured a place in history books as the first company to reach a market value of $5 trillion, amid the rise

Cyril Amarchand Mangaldas advised ReNew Private Limited on the sale of its 300MW solar power asset to Sembcorp Green Infra Private Limited The leading law firm in India, Cyril Amarchand Mangaldas, acted as legal counsel for ReNew Private Limited on the sale of 100% of its wholly owned subsidiary, ReNew Sun Bright Private Limited, which