Clipped from: https://www.business-standard.com/companies/news/sc-bpsl-case-nclt-nclat-have-no-power-over-pmla-authority-125050500690_1.html The Supreme Court has ruled that NCLT and NCLAT lack judicial review power over statutory decisions under the PMLA in the Bhushan Power
Category: Legal
Govt weighing next move after SC’s JSW-BPSL order: DFS Secretary M Nagaraju | Company News – Business Standard
Clipped from: https://www.business-standard.com/companies/news/govt-reviews-sc-order-on-bhushan-steel-idbi-sale-to-conclude-2025-125050500787_1.html The DFS is assessing the Supreme Court’s Bhushan Steel ruling with lenders and may chart next steps soon; IDBI Bank’s 61 per cent
JSW Steel set for a long-drawn battle as SC upholds ED attachment of Bhushan Power assets – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/companies/jsw-steel-set-for-a-long-drawn-battle-as-sc-upholds-ed-attachment-of-bhushan-power-assets/article69540941.ece Apex court ruled that the National Company Law Appellate Tribunal has no jurisdiction to adjudicate on the Prevention of Money Laundering Act and
Govt reviews SC judgment quashing JSW Steel’s ₹19,700 crore acquisition of Bhushan Power and Steel – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/govt-reviews-sc-judgment-quashing-jsw-steels-19700-crore-acquisition-of-bhushan-power-and-steel/article69540444.ece “We are studying the judgment and the possible course of action. We will finalise our next step after discussing with our senior government
With JSW Steel-Bhushan deal scrapped banks may have to take a hit to their balance sheets – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/companies/with-jsw-steel-bhushan-deal-scrapped-banks-may-have-to-take-a-hit-to-their-balance-sheets/article69541856.ece Banks would rather seek RBI permission to dip into their reserves to pay the acquirer than allow their profit & loss (P&L) to
JSW Steel may seek legal recourse against SC’s rejection of Bhushan Power & Steel acquisition – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/jsw-steel-may-seek-legal-recourse-against-scs-rejection-of-bhushan-power-steel-acquisition/article69541593.ece Bhushan accounts for over 12 per cent of JSW Steel’s annual production of 34 million tonnes per annum (mtpa) Apex court held that
*****SC flags RP’s failures in Bhushan Power and Steel’s insolvency plan
Clipped from: https://www.business-standard.com/industry/news/sc-flags-rp-lapses-in-bhushan-power-insolvency-plan-125050501067_1.html Supreme Court cites non-compliance by resolution professional in Bhushan Power case, declaring JSW Steel’s plan illegal and urging greater due diligence under IBC
SC criticises lack of crypto regulation, compares bitcoin trade to hawala – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/sc-criticises-lack-of-crypto-regulation-compares-bitcoin-trade-to-hawala/article69543473.ece The remarks came during a bail hearing for Shailesh Babulal Bhatt, arrested for alleged illegal Bitcoin trade. Senior advocate Mukul Rohatgi argued that
Change of opinion on scrutinised issue: SC quashes Reopening Notice
Clipped from: https://taxguru.in/income-tax/change-opinion-scrutinised-issue-sc-quashes-reopening-notice.html ACIT Vs Marico Ltd. (Supreme Court of India) Supreme Court of India has upheld a High Court decision that set aside a notice
*****Section 69 Addition Unsustainable Without Evidence Beyond Accused’s Confession
Clipped from: https://taxguru.in/income-tax/addition-u-s-69-based-mere-confession-accused-credible-evidence-sustainable.html Brij Kishore Kochar Vs ACIT (ITAT Delhi) ITAT Delhi held that mere confession of accused cannot be a ground for conviction since the
*****Homebuyers should reject possession without OC, seek legal recourse | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/builder-liable-for-giving-possession-without-occupancy-certificate-ncdrc-125050200616_1.html NCDRC finds Hamilton Heights guilty of unfair practice for giving possession without occupancy certificate; legal experts urge buyers to refuse handover in such
*****Tax Reassessment Invalidated Due to Procedural Defect in Notice Service Under Section 148 Proceedings
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87893 ITAT adjudicated a tax reassessment case involving procedural … April 30, 2025 Case Laws Income Tax AT ITAT adjudicated
*****Tax Assessment Notices Invalidated Limitation Period Expired Tribunal Order Beyond Statutory Timeframe Renders Notices Null and Void
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87895 HC upheld the petition, declaring assessment notices for AY … April 30, 2025 Case Laws Income Tax HC HC
*****Tax Reassessment Order Upheld Procedural Defects Cured Jurisdictional Challenge Rejected Appellate Remedies Available
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87899 HC dismissed writ petitions challenging tax reassessment order. … April 30, 2025 Case Laws Income Tax HC HC dismissed
Tax Liability After Death Section 93 Requires Legal Representatives Notification Before Proceeding Against Deceased Taxpayer
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87904 HC held that Section 93 addresses tax liability post-death but … April 30, 2025 Case Laws GST HC HC
Procedural Fairness Prevails Notice Defect Invalidates Demand Order Grants Petitioner 30-Day Response Window Under Natural Justice Principles
Clipped from: https://www.taxmanagementindia.com/web/tmi_highlights_details.asp?id=87900 HC ruled that the Petitioner was denied natural justice due to … April 30, 2025 Case Laws GST HC
*******Absence of cross-examination vitiates third-party statements: ITAT Nagpur
Clipped from: https://taxguru.in/income-tax/absence-cross-examination-vitiates-third-party-statements-itat-nagpur.html DCIT Vs Sanjay Gaurishankar Agrawal (ITAT Nagpur) 1. Facts of the Case 1.1 The assessee, Shri Sanjay Gaurishankar Agrawal, had received unsecured loans
Goods kept in cold store are not bailment, insurer must honour claims
Clipped from: https://www.business-standard.com/opinion/columns/goods-kept-in-cold-store-are-not-bailment-insurer-must-honour-claims-125042700752_1.html The National Commission disagreed, observing that goods were stored against payment of rent, which could not be termed a bailment The insurer paid
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