Category Archives: Contract Law

Homebuyers are Financial Creditors under Insolvency Code: SC

The Supreme Court of India recently upheld the amendments made to the Insolvency and Bankruptcy Code in 2018 (“Code”) to treat homebuyers as financial creditors. The Court said that the original provisions concerning Financial Creditors under the Code always subsumed … Continue reading

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Online subscription income can be treated as business income: ITAT

The Income Tax Appellate Tribunal (ITAT) recently held that income from online subscription services can be treated as business income and not be taxed as royalty or fee for technical services in all cases. ITAT Mumbai Bench said that for … Continue reading

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Winding up of companies fall within the exclusive jurisdiction of NCLT: NCLAT

The National Company Law Appellate Tribunal (NCLAT) reiterated that dispute relating to oppressional mismanagement and cases where winding up of companies may be required fall within the exclusive jurisdiction of National Company Law Tribunal and cannot be referred to arbitration. … Continue reading

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Arbitration clause has no existence in an unstamped agreement: SC

The Supreme Court of India recently held that an arbitration clause has no existence until the contract containing the arbitration clause is duly stamped. “When an arbitration clause is contained “in a contract”, it is significant that the agreement only … Continue reading

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Part sale consideration or stamp duty can’t be sole criteria to hold transaction as benami: SC

The Supreme Court of India recently reiterated that the payment of part sale consideration or stamp duty by another person cannot be the sole criteria to hold the sale transaction as benami. After a review of plethora of case law, … Continue reading

Posted in Banking Law, Company Law, Consumer Law, Contract Law, Evidence Law, Family Law, General Law, Real Estate, Registration & Stamp Law | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Arbitrator to be replaced as per agreement between parties: SC

Setting aside an arbitral award under Article 142 of the Constitution of India, the Supreme Court of India recently held that the courts cannot replace the arbitrator in deviation of the terms of the agreement between the parties The Court … Continue reading

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Special allowances not part of basic wages: SC

The Supreme Court of India recently clarified that the special allowances paid by an employer to its employees would not fall within the expression ‘basic wages’ for computation of deduction towards the provident fund if the payment have a direct … Continue reading

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