Tribunals/Commissions/Regulatory Bodies Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NGT directs Delhi Wetland Authority to trace and restore vanished waterbodies

“Disclose the area with geo-coordinates of each of the water bodies under their management and control as per the revenue record.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI restrains former IndusInd MD & CEO Sumant Kathpalia and top executives for alleged Insider Trading in Bank’s shares

SEBI observed that the trades were not routine or incidental but strategically timed to avoid substantial losses which would have occurred had the information been public at the time of trading.

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI bans actor Arshad Warsi and 58 others for 5 years in a textbook case of ‘pump and dump’ orchestrated through false narratives on digital media

SEBI emphasized that the integrity of the securities market is sacrosanct and any attempt to mislead investors, however novel or tech-enabled, would be dealt with strictly under the law.

Case Briefs Tribunals/Commissions/Regulatory Bodies

When DCDRC, Mumbai directed Amazon to pay Rs 40,000 for non-delivery of Rs. 100 Motu Patlu Kids Rakhi

The DCDRC stated that it is the duty of Amazon that it should verify the whereabouts as well as the status of the seller before accepting the order of a respective product.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Inter Railway Request Transfer approved before policy change cannot be denied; CAT directs Railways to restore pre policy approved transfer

The Railway Board’s 2015 policy required five years of service for inter-railway transfers but applied only to fresh cases of post-issuance. Despite meeting this condition, the applicant was not relieved. Later, a 2022 policy raised the service requirement to ten years, leading SECR to cancel all pending transfers below that threshold, including the applicant’s.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Felling of 700 trees in Bhoj Wetland, a Ramsar site; NGT forms panel, orders Statewide Tree Census

“Geo tagging of all trees to be made mandatory so that accurate records of their location, type and number can be maintained. Geo tag data should be published and be made available and reported to the office of Chief Conservator of Forest.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Single Homebuyer can’t challenge CoC approved Resolution Plan’; NCLAT upholds CoC’s commercial wisdom

The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Neglect and encroachment of historical water body in Narela: NGT issues notice to authorities

The NGT acknowledged that “the OA raises substantial issue relating to compliance of environmental norms.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘LOCs can’t be treated as guarantee under S. 126 of Contract Act’; Arbitral Tribunal refuses liability of Zee & Essel in repaying loan given to SNL by Aditya Birla Finance

“Zee and Essel undertook to ensure that SNL would fulfil its obligations and assured that the outstanding amount would be paid. To treat the said LOCs as guarantees would amount to adding words which were not written.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Secured Creditor who relinquishes interest cannot seek priority among others based on charge’; NCLT directs distribution of sale proceeds of Monnet Power’s assets

“Once a Secured Creditor relinquishes its security interest to the liquidation estate, it cannot seek priority among other Secured Creditors on the basis of the charge and is only entitled to receive proceeds from the sale of assets in the manner specified under Section 53 of the IBC.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

CCI approves Google’s ₹20.24 crore settlement in Android TV anti-competitive practices case

The CCI directed Google to submit annual compliance reports for five years and implement the Settlement Proposal per its submitted timeline.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Zee Entertainment guarantor’s liability arises only upon invocation of demand guarantee by IDBI: NCLAT dismisses IDBI’s plea to initiate CIRP

“There shall be liberty to the appellant to file a fresh Section 7 application for any default on the part of the corporate debtor subsequent to 10A period.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Matheran Horse Dung Pollution Case | NGT lists matter for next year as it awaits final report by Babasaheb Ambedkar Technological University

The applicants filed an application contending that Matheran hill station and an Eco-Sensitive Zone was facing serious environmental degradation due to the excessive use of horses for tourism and goods transportation.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Necessary permissions were taken’; NGT dismisses plea against illegal tree cutting in Adani’s Chhattisgarh Coal mining project

National Green Tribunal directed for necessary plantation to maintain the ecology in the area.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Acknowledgment of Balance Sheet under Section 18 of Limitation Act to be counted from date of signing of Balance Sheet: NCLAT

“There is no mandatory requirement for factorising the date of uploading of the balance sheet on the MCA portal for computing the period of limitation.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Protection of minority shareholder rights | NCLT lays down structured buy-out mechanism to resolve deadlock between shareholders

The NCLT gave the first right to buy shares to the petitioners and then the Deccan Group. If neither party purchased the other’s shares, the NCLT would consider winding up the company under Section 242(1)(b) of the Companies Act.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Force Majeure doesn’t absolve Corporate Debtor from contractual obligations; NCLT directs initiation of CIRP against Corporate Debtor

The NCLT acknowledged the impact of force majeure events, particularly the unprecedented rise in coal prices and operational disruptions caused by the COVID-19 pandemic on Corporate Debtor.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NGT takes cognizance of plea on Guillain-Barré Syndrome Outbreak in Pune due to contaminated drinking water

The NGT acknowledged that the matter raises serious environmental and public health concerns.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLT rejects Vedanta Ltd.’s demerger plan over non-disclosure of SEPCO’s debt and procedural irregularities

“The present one is a case where material facts have not been disclosed by the Applicant Company, violating Section 230 (2)(a) of the Companies Act, 2013, which in our considered opinion is bound to prejudice the public interest at large.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Electricity is an “essential service” under Section 14(2) IBC; can’t be discontinued even if dues remain unpaid during CIRP: NCLAT

“If the Corporate Debtor operates as a manufacturing facility, then electricity may be treated as critical service by the insolvency professional and the dues for such services must be paid.”