The Supreme Court on Friday declared JSW Steel Limited's resolution plan for Bhushan Power & Steel Limited (BPSL) "illegal" and ordered the latter's liquidation, four years after the company was acquired by JSW Steel under the Insolvency and Bankruptcy Code (IBC). Following the ruling, JSW Steel shares fell sharply.
From demonetisation to sub-categorisation of Scheduled Castes to bulldozers, Justice Gavai has been part of several judgments.
The inclusion of a "no-contest" clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.
On the basis of her committee's report, the UCC in Uttarakhand established mandatory registration for marriages and live-in relationships, banned polygamy, and provided equal inheritance rights for women.
'While the current pause offers temporary reprieve and alleviates any immediate legal pressure, the long-term implications remain uncertain.'
'Each side could consider challenging the NCLAT's stay order before the Supreme Court.'
'This case is not a good example of intellectual property strategy for either sector.'
Though a settlement will provide respite from a long legal battle, legal experts say it may create a perception of guilt.
'Everything can be resolved, but my husband's legacy is not up for sale.'
Justice Sanjiv Khanna 'belongs to that school of legal luminaries who give the highest primacy to facts.'
'In India, managers and the leadership almost glorify overworking.'
Ace Aviation, which has been fighting Jet Airways for the acquisition of three Boeing B777 aircraft, said that it has acquired another aircraft for the conversion slot in early February 2025.
In a development that may encourage increased investment in commercial real estate, the Supreme Court on Thursday gave the industry relief by permitting input tax credit (ITC) on construction expenses for buildings meant to be leased. "If the construction of a building was essential for carrying out the activity of supplying services, such as renting or giving on lease or other transactions in respect of the building or a part thereof, which are covered by clauses (2) and (5) of Schedule II of the CGST (Central Goods and Services Tax) Act, the building could be held to be a plant," said Justice Abhay S Oka and Justice Sanjay Karol.
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
When there are two wills produced before the court, which one will be executed?
You can also read about the Indira Gandhi Assassination Case, the Parliament Attack Case, the Red Fort Attack Case, the Jessica Lal Murder Case, the Decriminalisation of Homosexuality Case among others.
'Digital courts will alleviate congestion in traditional courts.'
Lawyers flooded the courtroom of Chief Justice of India D Y Chandrachud to witness the proceedings as one special guest -- Aamir Khan -- was seated in the front row.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
The Delhi high court on Friday directed the civil aviation regulator to deregister planes leased to Go First within five working days, giving respite to the lessors. This means that the airline will have to give back all 54 aircraft to the lessors if its resolution professional (RP) does not challenge the order or ask for a stay. Justice Tara Vitasta Ganju also refused the request of the RP, represented by advocate Diwakar Maheshwari, to keep the operation of the order in abeyance for a week to enable them to file an appeal before the division Bench of the court.
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