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  • Article

    Delhi High Court Held That Security Cheque Can Constitute As An Enforceable Instrument Under Section 138 Of The NI Act

    The High Court of Delhi through its judgment dated 11.11.2025 in Manmohan Gaind v. Negolice India Pvt. Ltd , held that a cheque issued as a security may constitute a legally enforceable instrument under Section 138 of the Negotiable Instruments Act, 1881 ("NI Act"), if any subsisting liability exists on the date of its presentation.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    MCA Extends Time For Filing Of Financial Statements And Annual Returns Under The Companies Act, 2013

    The Ministry of Corporate Affairs ("MCA") by way of General Circular No. 08/2025 dated 30.12.2025 ("MCA Circular") , has granted further relaxation in respect of annual filings under the Companies Act, 2013 ("Act").
    IndiaCorporate/Commercial Law
    Sagus Legal
    Sagus Legal
  • Article

    MCA Issues Relaxation For Delayed Filing Of Form DPT-3

    The Ministry of Corporate Affairs (“MCA”), by circular dated 19.06.2026 , has granted relaxation in payment of additional fees for delayed filing of Form DPT-3 (Return of Deposits) for the financial year ended 31.03.2026.
    IndiaCorporate/Commercial Law
    Sagus Legal
    Sagus Legal
  • Article

    SEBI Provides One-time Relaxation From Penal Provisions For Non-compliance With Minimum Public Shareholding.

    The Master Circular dated 11.07.2023 (“Master Circular”), issued in connection with compliance under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 inter alia, sets out the framework for action to be taken by recognized stock exchanges and depositories against listed entities that fail to meet the Minimum Public Shareholding (“MPS”) requirements, including imposition of fines, freezing of promoter shareholding, and other consequential actions.
    IndiaFinance and Banking
    Sagus Legal
    Sagus Legal
  • Article

    Union Cabinet Approves Changes In The PN3 Guidelines Of The FDI Policy

    The Union Cabinet, by press release dated 10.03.2026 (“Press Release”), has notified changes to the foreign direct investment (“FDI”) policy. The changes focus on change in guidelines introduced...
    IndiaGovernment, Public Sector
    Sagus Legal
    Sagus Legal
  • Article

    NCLT, Ahmedabad Held That The Essential Requirement Under Section 9 Of IBC Is The Existence Of Unpaid Operational Debt As On The Date Of Consideration Of The Application.

    The National Company Law Tribunal, Ahmedabad Bench I ("NCLT") through its judgement dated 05.01.2026 in Dhyaneshwar Shankar Unde v. Shukla Dairy Private Limited...
    IndiaInsolvency/Bankruptcy/Re-Structuring
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Held That Co-operative Societies Can Participate In Insolvency Resolution Subject To Compliance With The MSCS Act And Their Own Bye-laws.

    The Supreme Court through its judgment dated 09.04.2026 in M/s Nirmal Ujjwal Credit Co-operative Society Ltd. vs. Ravi Sethia & Ors . held that the provisions of the Multi-State Cooperative Societies Act, 2002 (“MSCS Act”) do not per se prohibit an a multi state cooperative society to participate as a resolution applicant, as long as it is in conformity with Section 64 of MSCS Act, its own bye laws and Section 29A of the Insolvency and Bankruptcy Code, 2016.
    IndiaInsolvency/Bankruptcy/Re-Structuring
    Sagus Legal
    Sagus Legal
  • Article

    Bombay High Court Affirms Termination Of Arbitrator’s Mandate Under Section 29A Does Not Terminate Arbitral Proceedings And Bars Fresh Appointment Where Applicant Is At Fault.

    The High Court of Bombay through its judgement dated 01.04.2026 in Nalin Vallabhbhai Patel & Anr. v. Atharva Realtors and Ors. held that under Section 29A(4) of the A&C Act, it is only the mandate of the arbitrator that stands terminated and not the arbitral proceedings. The High Court clarified that termination of the mandate does not ipso facto result in termination of the arbitral proceedings, and that the statutory scheme clearly recognizes a distinction between termination of mandate and termination of proceedings.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Held That Parties Do Not Possess Any Vested Or Automatic Right To Seek Admission Of Additional Evidence Under Order XLI Rule 27 CPC

    The Supreme Court through its judgement dated 09.03.2026 in the matter of Gobind Singh and Ors. v. Union of India & Ors.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Holds That That Unsubstantiated Fraud Allegations Cannot Shift Burden Onto Defendants In Challenge To GPA Transactions

    It was also observed that the Appellant failed to produce documentary evidence of the alleged loans and their repayment, and had challenged the transactions after an unexplained delay of nearly ten years, during which the GPAs remained uncancelled and subsequent transactions continued without objection. Finding no perversity, patent illegality or substantial question of law, the Court dismissed the appeal.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Of India Holds That A Party Cannot Take Defence Of Evidence Being Voluminous For Belated Production Of Evidence.

    The Supreme Court through its judgement dated 09.07.2026 in the matter of M/s Levitate Mobile Technologies Private Limited v M/s Standard Chartered Bank & Another held that the Commercial Courts Act 2015 (“Commercial Courts Act”) is meant for expeditious disposal of commercial disputes and belated production of evidence, cannot water down the statutory intent and rigours of the Commercial Courts Act.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    SEBI Extends Deadline For Angel Funds To Disclose Investment Allocation Methodology

    The Securities and Exchange Board of India ("SEBI") by way of Circular No. SEBI/HO/AFD/AFD-POD1/P/CIR/2025/136 dated 15.10.2025 ("AIF Circular") , has granted relaxation in the timeline for disclosure of allocation methodology by Angel Funds.
    IndiaCorporate/Commercial Law
    Sagus Legal
    Sagus Legal
  • Article

    SEBI Issues Informal Guidance In Relation To Eligibility For Appointment As Independent Directors

    The Applicant proposed to appoint as an Independent Director an individual who was the cousin (daughter of the father's sister) of a member of its promoter group, who was also serving as a director on the boards of two subsidiary companies of the Applicant.
    IndiaCorporate/Commercial Law
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Holds That The Indian Railways Is Not A Deemed Distribution Licensee And Is Liable To Pay Cross-Subsidy Surcharge And Additional Surcharge For Procurement Of Electricity.

    Supreme Court through its judgement dated 08.05.2026 in the matter of Indian Railways v West Bengal State Electricity Distribution Company Limited & Others held that Indian Railways (“IR”) is not a Deemed Distribution Licensee (“DDL”) under Section 14 of the EA Act and is liable to pay Cross-Subsidy Surcharge (“CSS”) and Additional Surcharge (“AS”) as stipulated in Section 42 of the EA Act.
    IndiaEnergy and Natural Resources
    Sagus Legal
    Sagus Legal
  • Article

    APTEL Issues Directions For Liquidation Of Regulatory Assets In A Time-bound Manner

    SEBI has introduced significant amendments to InvIT, AIF, and REIT regulations, lowering credit risk thresholds for liquid mutual funds and expanding investment flexibility.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    High Court Of Delhi Held That A Writ Petition Seeking Recovery Of Contractual Dues Is Not Maintainable

    The High Court of Delhi through its judgment dated 09.07.2026 in Delhi Waste Management Limited v. North Delhi Municipal Corporation, dismissed batch of writ petitions seeking refund of service tax and labour cess deducted from the contractual payments.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Holds That High Courts In Exercise Of Certiorari Jurisdiction Can Set Aside Orders Passed By Quasi-judicial Authorities Which Are Grossly Perverse.

    The Supreme Court through its judgement dated 31.08.2026 in the matter of Shri Prakash Narain Sharma Dead Through Legal Representative v M/s Burmah Shell Co-Operative Housing Society (Regd.) through Managing Committee Member Sh. P. Jindal & Others held that High Courts exercising their supervisory jurisdiction under Article 226 of the Constitution can set aside orders passed by quasi-judicial authorities.
    IndiaLitigation, Mediation & Arbitration
    Sagus Legal
    Sagus Legal
  • Article

    CERC Provides Framework For Adjustment Of Financial Impact Due To Change In The GST Rate Of Coal And Abolition Of Compensation Cess On Coal.

    The Central Electricity Regulatory Commission ("CERC"), in the matter of ‘Abolition of GST Compensation Cess and increase in the GST rate on procurement of coal from 5% to 18%.', through its suo moto order dated 29.12.2025.
    IndiaTax
    Sagus Legal
    Sagus Legal
  • Article

    Supreme Court Held That Imposition Of Moratorium On A Company Is Not A Ground To Reject Complaints Against The Promoters/ Directors Of The Company

    Supreme Court through its judgment dated 27.07.2026 in the matter of Tejas J Shah & Amisha T Shah v. Mantri Technology Constellations Private Limited (Now Known as Buoyant Technology Constellations Private Limited)[1] held that imposition of moratorium on a company under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) is not a ground to reject consumer complaints against the promoters/ directors of the company.
    IndiaCorporate/Commercial Law
    Sagus Legal
    Sagus Legal
  • Article

    CERC Approves The Procedure For Levy Of Milestone Extension Charges Under The General Network Access Regulations, 2022

    The Central Electricity Regulatory Commission, by its order dated 14.08.2026 in Petition No. 5/SM/2026, has approved the procedure for levy of compensation charges permitting connectivity grantees additional time to achieve the milestones prescribed under the CERC (Connectivity and General Network Access to the inter-State Transmission System) Regulations, 2022.
    IndiaEnergy and Natural Resources
    Sagus Legal
    Sagus Legal

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