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SUPREME COURT OF INDIA CLARIFIES: TERRITORIAL JURISDICTION UNDER NI ACT LIES WHERE PAYEE MAINTAINS BANK ACCOUNT, NOT WHERE CHEQUE IS DEPOSITED Introduction   The Hon’ble Supreme Court of India (“SC”), in Prakash Chimanlal Sheth v. Jagruti Keyur Rajpopat (2025 INSC 897), has by its order dated 25th July 2025, declared that territorial jurisdiction under Section […]

Hon’ble Supreme Court: Will That Unjustifiably Disinherit Spouse May Be Legally Questionable Citation: 2025 INSC 866 Introduction In a landmark ruling dated 18 July 2025, the Supreme Court in Gurdial Singh v. Jagir Kaur[1] invalidated a Will that excluded the testator’s legally wedded wife without any stated reason. The Court held that unexplained disinheritance of

SUPREME COURT OF INDIA CLARIFIES: PARTNERSHIP WITH TWO OR MORE PARTNERS DOES NOT DISSOLVE ON DEATH IF THE PARTNERSHIP DEED PROVIDES FOR CONTINUITY Introduction   The Hon’ble Supreme Court of India (“SC”) in Indian Oil Corporation Limited & Ors. v. M/s Shree Niwas Ramgopal & Ors. Special Leave Petition (Civil) No. 1381 of 2025 has

The Insolvency and Bankruptcy Board of India introduces amendments to the Corporate Insolvency Resolution Process Regulations. Introduction With a view to strengthening transparency, accountability, and the treatment of avoidance transactions in the Corporate Insolvency Resolution Process (“CIRP”), the Insolvency and Bankruptcy Board of India (“IBBI”) has, by its press release dated July 8, 2025, Press

Registered Conveyance Is Key: Hon’ble Supreme Court Clarifies Title and Possession in Raidurg Land Case Background By its order dated 08 May 2025, the Hon’ble Supreme Court in the matter of Mahnoor Fatima Imran & Ors. vs. M/s Visweswara Infrastructure Pvt. Ltd. & Ors. (2025) INSC 646, addressed a long-standing dispute concerning the possession and

BOMBAY HIGH COURT MAKES TRANSCRIPTION OF COURT PROCEEDINGS COMPULSORY Introduction   The Hon’ble High Court of Bombay (“HC”) vide Notification No. Rule/P.1603/Notification No. 07/2025 has framed the Rules for Live Streaming and Recording of Court(“Rules”). Subsequently by Notification No. Rule / P.1603 / Notification No.10/2025, the HC has appointed 07th July, 2025 as the date

DELHI HIGH COURT: VALUATION OF UNQUOTED EQUITY SHARES USING THE DCF METHOD PERMISSIBLE UNDER INCOME TAX RULES Introduction The Delhi High Court in its order dated 30th May 2025 in Principal Commissioner of Income Tax-1 v. M/s A.H. Multisoft Pvt. Ltd. [ITA No. 9/2025], has upheld the Discounted Cash Flow (DCF) method as a valid

KEY TAKEAWAYS FROM SEBI BOARD MEETING HELD ON JUNE 18, 2025: RELIEF FOR STARTUP FOUNDERS ON ESOP RETENTION DURING IPOS A. Introduction: Clarifying ESOPs for Startup Founders in India’s IPO Landscape Employee Stock Option Plans (ESOPs) are a cornerstone for talent attraction and incentivisation in Indian startups, especially for early founders who often receive equity

MCA’s 2025 NOTIFICATIONS: KEY AMENDMENTS TO COMPANIES RULES AND E-FILING FORMS Introduction In furtherance of the earlier announcement regarding migration of 38 E-forms from V2 portal to V3 Portal of the Ministry of Corporate Affairs (“MCA”), the MCA has published 5 (Five) Notifications dated 30th May 2025 (“Companies Amendment Rules“). These Notifications introduce amendments to

Mandatory Dematerialisation of Securities Ministry of Corporate Affairs introduces amendments to Companies (Prospectus and Allotment of Securities) Rules, 2014 Introduction The Ministry of Corporate Affairs (“MCA”) on 27 October 2023 notified amendments to rules under the Companies Act, 2013. This includes the Companies (Prospectus and Allotment of Securities) Second Amendment Rules 2023. (“PAS Rules 2023”).  Objective