Supreme Court Clarifies Rights of Secured Creditors in Insolvency: Vistra ITCL vs. Dinkar Venkatasubramanian (2023) LEGAL ISSUE: What are the rights of a secured creditor holding pledged shares in the context of the Insolvency and Bankruptcy Code, 2016 (IBC)? CASE TYPE: Insolvency Law Case Name: M/S VISTRA ITCL (INDIA) LTD & ORS. vs. MR. DINKAR […]
Date of the Judgment: 25 April 2023 Citation: INSC 368 of 2023 Judges: K.M. Joseph, J., Aniruddha Bose, J., Ajay Rastogi, J., Hrishikesh Roy, J., and C.T. Ravikumar, J. (Majority opinion by K.M. Joseph, J. with a concurring opinion by C.T. Ravikumar, J. and dissenting opinions by Ajay Rastogi, J. and Hrishikesh Roy, J.) Can
Date of the Judgment: 06 April 2023 Citation: Not Available in the source Judges: K.M. Joseph, J. and B.V. Nagarathna, J. Can a power generating company claim compensation for increased costs due to a change in interpretation of law or due to errors in reports provided during the bidding process? The Supreme Court of India
Supreme Court Clarifies “Change in Law” in Power Purchase Agreements: Haryana Power Purchase Centre vs. Sasan Power Ltd (2023) Date of the Judgment: April 6, 2023 Citation: 2023 INSC 326 Judges: K.M. Joseph, J. and B.V. Nagarathna, J. Can a power generating company claim compensation for increased costs due to a change in the interpretation
Supreme Court Limits Arbitrator’s Power to Award Claims Beyond Final Bill: Union of India vs. Bharat Enterprise (2023) LEGAL ISSUE: Whether an arbitrator can award claims not included in the final bill submitted by a contractor, especially when the contract prohibits such claims. CASE TYPE: Arbitration Law Case Name: Union of India & Ors. vs.
Supreme Court Upholds Inclusion of Development Rights as Corporate Assets in Insolvency: Victory Iron Works Ltd. vs. Jitendra Lohia (2023) LEGAL ISSUE: Whether development rights of a corporate debtor over a property can be considered as an asset during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Victory Iron Works Ltd.
Supreme Court clarifies insurance policy terms in election duty death: National Insurance Company Ltd. vs. Chief Electoral Officer (2023) LEGAL ISSUE: Interpretation of insurance policy terms, specifically the scope of “accident caused by external violent and any other visible means.” CASE TYPE: Insurance Law Case Name: National Insurance Company Ltd. vs. The Chief Electoral Officer
Supreme Court Clarifies Scope of “Charges” in FCI Contracts: Food Corporation of India vs. Abhijit Paul (2022) LEGAL ISSUE: Interpretation of contractual terms, specifically the meaning of “charges” in the context of liability for demurrages. CASE TYPE: Contract Law, specifically concerning government contracts. Case Name: Food Corporation of India & Ors. vs. Abhijit Paul [Judgment
Supreme Court Clarifies TDS on Airline Ticket Commissions: Singapore Airlines vs. CIT (2022) LEGAL ISSUE: Whether airlines are liable to deduct Tax Deduction at Source (TDS) on the supplementary commission earned by travel agents on the sale of airline tickets. CASE TYPE: Income Tax Law Case Name: Singapore Airlines Ltd. vs. C.I.T., Delhi Judgment Date:
Supreme Court Upholds Agent’s Rights After Contractor’s Death in Karnataka Contract Dispute LEGAL ISSUE: Whether an agent’s rights under a contract terminate upon the death of the principal, especially when the agent has an interest in the contract. CASE TYPE: Contract Law, Arbitration Case Name: P. Seshareddy (D) Rep. By His LR. Cum Irrevocable GPA
Supreme Court Orders Arbitration in Shareholder Dispute: VGP Marine Kingdom vs. Kay Ellen Arnold (2022) LEGAL ISSUE: Whether a court can refuse to appoint an arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996, if prior arbitration proceedings or related matters are pending before the National Company Law Tribunal (NCLT). CASE TYPE: Arbitration
Supreme Court Clarifies Pledge Law and Depositories Act: PTC India Financial Services Ltd. vs. Venkateswarlu Kari (2022) Date of the Judgment: 12 May 2022 Citation: (2022) INSC 479 Judges: M.R. Shah, J., Sanjiv Khanna, J. Can a pawnee (lender) automatically become the owner of pledged shares by simply recording themselves as the beneficial owner in
