Corporate
Arbitration | Writ Jurisdiction Can't Be Invoked To Challenge Arbitrator's Decision Under Section 16 : Supreme Court
The Supreme Court has held that while exercising its Writ Jurisdiction, it is impermissible for the High Courts to interfere with the arbitral tribunal's order passed under Section 16 of the Arbitration & Conciliation Act, 1996. “It was not open for the learned Single Judge in exercise of writ jurisdiction to enter into the merits of the dispute while adjudicating the challenge to an...
S.33(1)(a) Arbitration Act Only To Correct Clerical Errors In Award; Can't Be Invoked To Change Nature Of Interest : Supreme Court
Holding that substance of an arbitral award cannot be altered under the guise of correcting errors, the Supreme Court has ruled that changing the nature of interest awarded from simple interest to compound interest amounts to a substantive modification that falls outside the limited scope of Section 33(1)(a) of the Arbitration and Conciliation Act, 1996.A bench of Justice PS Narasimha and...
Party Estopped From Challenging Award On The Ground Of Mandate Expiry After Accepting Extension Of Arbitrator's Mandate: Supreme Court
The Supreme Court on Tuesday (May 26) has held that a party who continues to participate in arbitration proceedings without objecting to the extension of the arbitrator's mandate cannot later challenge the award on the ground that the mandate had expired. A bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe heard the dispute that arose out of arbitration proceedings between...
Supreme Court Surprised Over Vacancies In ITAT Administrative Staff, Seeks Attorney General's Intervention
The Supreme Court on Tuesday expressed surprise over the large number of vacancies in the administrative staff of the Income Tax Appellate Tribunals (ITAT) and sought the intervention of the Attorney General for India to ensure that the posts are filled at the earliest.A bench comprising Chief Justice of India Surya Kant and Justice Joymalya Bagchi was hearing a writ petition filed by...
Supreme Court Questions Centre's Delay In Notifying Commercial Court Rules 2021, Says HCs May Consider Setting Up District Execution Cells
The Supreme Court on Monday (May 25) took serious note of the Union Government's failure to notify the draft Commercial Courts Rules, 2021, observing that the country is facing a “huge challenge” in the effective and expeditious disposal of execution petitions. A bench of Justice JB Pardiwala and Justice Pankaj Mithal took suo motu notice of the fact that the draft Commercial Courts...
Interim Profits In CIRP: EBITDA Allocation Dilemma
The major headline from the Supreme Court's decision to restore JSW Steel's resolution plan for Bhushan Power and Steel Limited (BPSL) on 26 September 2025, was the rescue of a ₹19,350 crore acquisition that the same court had set aside five months earlier.Another issue that came to the forefront but gained little traction was the consequential question: Who is entitled to the EBITDA...
Illusion Of Digital Convenience
Navigating the Regulatory Void in the Indian e-Commerce LandscapeThe statutory architecture governing e-commerce in India presents a formidable facade of consumer protection that crumbles upon practical execution. We operate under the ambit of the Consumer Protection Act, 2019 and the Consumer Protection Electronic Commerce Rules, 2020, yet the digital consumer remains vulnerable to corporate negligence. The legislative intent of passing this legislation and framing these rules was progressive,...
When Can Re-Assessment Be Opened U/s 147, 148 of Income Tax Act? Supreme Court Explains
While dealing with a tax case related to development of a housing project, the Supreme Court recently elucidated the position of law pertaining to reopening of assessments under Section 147 of the Income Tax Act, 1961. A bench of Justices JB Pardiwala and KV Viswanathan referred to Section 147 (pre-2012) and Section 148 (pre-2006) of the IT Act and observed that power to reopen assessment is...
