Vijay Mallya has moved the Karnataka High Court to stay further debt recovery proceedings, claiming that banks have already recovered more than twice the ₹6,200 crores owed by Kingfisher Airlines. The court has issued notices to the involved banks and financial institutions.
The Bombay High Court will hear Skoda Volkswagen India's challenge to a $1.4 billion tax demand by Indian customs authorities on February 17, 2024. The dispute revolves around the misclassification of imports, with customs claiming Volkswagen paid lower duties by declaring nearly complete cars as individual parts.
SEBI has imposed a ₹25 lakh fine on DB Realty (now Valor Estate) and its promoters for financial misstatements and non-disclosures related to a loan guarantee and NPA classification violations.
The Delhi High Court has allowed the Annual General Meeting (AGM) of Religare Enterprises Limited (REL) to proceed on February 7, 2024, despite ongoing legal disputes. The meeting will include a vote on the Burman Family's takeover of REL, amid objections from minority shareholder Sapna Govind Rao and challenges to the removal of Dr. Rashmi Saluja as Executive Chairperson.
Calcutta High Court upholds an arbitral tribunal’s power to correct calculation errors under Section 33 of the Arbitration Act in Haldia Development Authority v. Konark Enterprises.
Delhi High Court upholds tax deductibility of license fees paid by Remfry & Sagar for the use of its founder’s name and goodwill, ruling them as legitimate business expenses under Section 37 of the IT Act.
CESTAT rules that imported communication modules are independent parts of communication hubs, classifying them under CTI 8517 70 90 and granting corresponding exemptions.
Withers KhattarWong strengthens its corporate team with the addition of ex-Linklaters counsel Gary Beh as a partner, enhancing its M&A and private equity capabilities.
Matouk Bassiouny & Hennawy advised Saudi Public Investment Fund on SIC’s EGP 3.4 billion acquisition of a 37.5% stake in CIRA Education, strengthening its regional presence.
