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Interest Subsidy from RBI Not Taxable under Interest Tax Act: High Court Rules in Favour of Assessee
The Bombay High Court ruled in favour of the Assessee, holding that the interest subsidy received from the Reserve Bank of India under...
Jun 25, 20253 min read
Acknowledged Debt under Fresh Loan by ARC Held Enforceable: NCLAT Upholds Section 7 Admission Despite Limitation and Procedural Challenge
The NCLAT upheld the admission of a Section 7 application, holding that the acknowledged debt under a fresh loan granted by an Asset...
Jun 24, 20254 min read
Bank Liable for Encashment of Forged Cheques: High Court Sets Aside Trial Court’s Dismissal, Upholds Customer’s Claim for Negligent Payment
The Kerala High Court held the Bank liable for encashment of cheques bearing forged signatures and set aside the trial court’s dismissal...
Jun 20, 20253 min read
Mandatory Pre-Deposit Upheld: DRAT Rejects Waiver Plea for Lack of Prima Facie Case and Financial Hardship
The DRAT upheld the requirement of mandatory pre-deposit under Section 18(1) of the SARFAESI Act, rejecting the appellants’ plea for...
Jun 19, 20253 min read
Bank’s Recovery Right Under RDB Act Overrides State’s Charge Under VAT Act; High Court Enforces Section 31-B
The Andhra Pradesh High Court, by invoking Section 31-B of the RDB Act, held that the Bank’s right of recovery takes precedence over the...
Jun 19, 20253 min read
IBC Progresses Amid Persistent Pain Points: Elevated Haircuts, Delayed Resolutions Undermine Systemic Gains
Despite improved recoveries and increased deterrence effect, the ICRA report flags persistent challenges under the IBC framework,...
Jun 18, 20252 min read
NCLAT Upholds Reversal of Preferential Transactions Made by Suspended Directors During CIRP Look-Back Period
The NCLAT upheld the reversal of preferential transactions made by the suspended directors during the CIRP look-back period. The National...
Jun 18, 20253 min read
Secured Creditors’ Priority Upheld: Gujarat High Court Rules Crown Debts Subordinate to SARFAESI Charge in Mutation Disputes
The Gujarat High Court upheld the priority of secured creditors under the SARFAESI Act, ruling that Crown debts are subordinate and...
Jun 18, 20254 min read
Belated Claims Post-Resolution Plan Approval Not Maintainable: NCLAT Reiterates Finality of CIRP Under IBC
NCLAT held that belated claims filed after the approval of the resolution plan are not maintainable, reiterating the finality of the...
Jun 16, 20253 min read
NCLAT Rules Promoters Not Liable Under Section 65 IBC Without Direct Role in Fraudulent Initiation of CIRP
The NCLAT ruled that promoters cannot be held liable under Section 65 of the IBC unless they had a direct role in the fraudulent...
Jun 16, 20253 min read
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