Supreme Court Quashes Cheating Case Against Ex-Darjeeling Organic Tea Estates CEO Over ₹40 Lakh Deal

The Supreme Court has quashed cheating proceedings against Indroneel Goho, who was serving as Chief Executive Officer of Darjeeling Organic Tea Estates Private Limited at the time of a transaction involving the Jamguri Tea Estate in Assam. The case arose from a ₹40 lakh agreement concerning the property.A Bench comprising Justice Vikram Nath and Justice Sandeep Mehta set aside the Gauhati High Court's order refusing to quash the criminal proceedings. The complaint alleged that Goho had falsely...

'Or Otherwise' Clause In Contract Bars Arbitral Interest Awards Beyond Delayed Payments: Supreme Court

On 15 October, the Supreme Court held that the expression “or otherwise” in a contractual clause prohibiting interest claims extends the bar to all circumstances in which interest may be claimed against the contracting party, preventing an arbitral tribunal from awarding pre-reference and pendente lite interest. A Division Bench of Justices Aravind Kumar and Vipul M. Pancholi dismissed an appeal filed by Sharma Enterprises against National Building Construction Corporation Limited (NBCC),...

Supreme Court Refuses To Direct IDBI Bank To Honour ₹8.7 Crore Bank Guarantee To CTUIL

The Supreme Court on Friday refused to interfere with the Delhi High Court's division bench order declining to direct IDBI Bank Limited to release ₹8.7 crore to the Central Transmission Utility of India Limited (CTUIL) under a bank guarantee.The Delhi High Court on July 1, 2026 dismissed an appeal filed by Central Transmission Utility of India Limited (CTUIL) challenging a Single Judge's order dated March 19, 2026, which declined to direct IDBI Bank Limited to release ₹8.7 crore under a bank...

Yes Bank's ₹8,415 Crore AT-1 Bond Write-Down After Reconstruction Scheme Took Effect Was Illegal: Supreme Court

The Supreme Court on Thursday held that the Administrator of Yes Bank could not write down ₹8,415 crore worth of Additional Tier-1 (AT-1) bonds after the bank's reconstruction scheme came into force. The court ruled that the requirement to write down the bonds “before reconstitution” meant before the scheme took effect. “Had the intention been otherwise, the clause ought to have read 'before reconstitution is complete',” a bench of Justices Dipankar Datta and Augustine George Masih observed. It...

Profitable Companies Can Face Insolvency Proceedings If They Default On Loans: Supreme Court

The Supreme Court on Thursday held that a company's profitability does not prevent insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). A financial default, rather than commercial or balance-sheet insolvency, triggers the Corporate Insolvency Resolution Process (CIRP).“Profitability is neither legally relevant to, nor economically probative of, the capacity to service debt. The Code proceeds upon the principle of timely intervention rather than terminal insolvency, and adopts...

BREAKING | Yes Bank AT-1 Bond Write-Off: Supreme Court Refuses To Interfere With Bombay High Court Order Quashing It

The Supreme Court on Thursday refused to interfere with the Bombay High Court's order quashing Yes Bank's decision to write off Additional Tier 1 (AT-1) bonds worth ₹8,415 crore in March 2020, leaving the High Court's ruling in favour of the bondholders undisturbed.A Division Bench of Justices Dipankar Datta and A.G. Masih pronounced the judgment in appeals challenging the Bombay High Court's order quashing the write-off of the bonds and the communication issued by Yes Bank's Administrator on...

Income Tax | Taxpayers Cannot Raise Fresh Claims Based On New Facts In Revision Proceedings: Supreme Court

The Supreme Court has recently reiterated that taxpayers cannot use revision proceedings to introduce fresh claims based on facts that were never placed before the Assessing Officer, bypassing the deadline for filing a revised income tax return.A bench of Justices Prashant Kumar Mishra and Shree Chandrashekhar held that the revisional authority can entertain a new question of law, but cannot consider a claim that goes beyond the facts available to the Assessing Officer.“In our considered view,...

Tax Department Cannot Sustain Reassessment On Other Grounds If Original Reason Fails: Supreme Court

The Supreme Court has recently ruled that the Income Tax Department cannot sustain reassessment proceedings on other grounds when the original reason for reopening the assessment is untenable. The court declared reassessment proceedings against LG Electronics India Pvt. Ltd. for Assessment Years 2006-07 to 2008-09 unenforceable. The case concerned the company's alleged failure to deduct Tax Deducted at Source (TDS) on payments to its Korean parent company and associated enterprises.A Bench of...

Supreme Court Directs MMRDA To Deposit ₹646 Crore With Registry In Reliance's BKC Project Dispute

The Supreme Court on Monday directed the Mumbai Metropolitan Region Development Authority (MMRDA) to deposit approximately ₹646 crore with the Supreme Court Registry by November 6, 2026. The amount was earlier deposited by Reliance Industries Ltd. under protest towards a disputed demand for additional premium over an alleged delay in completing its Bandra Kurla Complex project. A Bench of Justices Dipankar Datta and Sheel Nagu issued notice on MMRDA's challenge to the Bombay High Court's April...

ED Moves Supreme Court Against Order Quashing FIR, ED Case Against NewsClick, Prabir Purkayastha

The Enforcement Directorate (ED) has moved the Supreme Court challenging the Delhi High Court's decision to quash the FIR against digital news platform NewsClick and its founder, Prabir Purkayastha. The High Court had also quashed the money laundering proceedings arising from allegations of irregularities in foreign funding.The special leave petition filed by ED on October 8 is yet to be listed before the Supreme Court. The challenge is against the High Court order by Justice Neena Bansal...

Supreme Court Dismisses PIL Seeking Probe Into Overseas Funds Flowing Into Indian Equities, Adani Deals

The Supreme Court on Friday dismissed a Public Interest Litigation (PIL) filed by former journalist Ketan Tirodkar seeking an investigation into alleged overseas fund flows into the Indian equity market, including transactions involving Adani Group entities.A Bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana at the outset, questioned why the petitioner had approached the Supreme Court directly instead of pursuing the remedy available before the Bombay High Court,...

Supreme Court Issues Notice On Birla Sun Life Insurance's Plea Against Service Tax On Life Insurance Charges

The Supreme Court on Friday issued notice on Birla Sun Life Insurance Co. Ltd.'s special leave petition challenging a Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai order that partly upheld service tax demands on charges collected from life insurance policyholders. The Tribunal, in its April 10, 2026 order, set aside service tax demands on surrender, discontinuation and foreclosure charges, relying on its earlier rulings in similar cases involving life insurance companies. ...