Supreme Court Legal News Actions in rem is not arbitrable: SC clarifies that Section 7 petition under IBC if admitted will be proceedings in rem and hence a dispute will be non arbitrable. Decided on 26th March, 2021 Indus Biotech Private Limited v. Kotak India Venture (Offshore) Fund and Ors For full text of judgment click here

Supreme Court Legal News Transfer Petition filed by State Govt. under Section 406 Cr. PC is maintainable as State is a “party interested” within the meaning of Section 406(2) Cr.PC.: SC gives a wider interpretation to the word “party interested” Decided on 26th March, 2021 State of Uttar Pradesh v. Jail Superintendent (Ropar) & Ors. For full text of judgmentclick here

Supreme Court Legal News No stay of Electoral Bonds: SC refutes the claim that Electoral Bonds Scheme allows the donors of political parties to maintain anonymity. Decided on 26th March, 2021 Association For Democratic Reforms & Anr. v. Union Of India & Ors For full text of judgment CLICK HERE

Supreme Court Legal News Order of NCLAT reinstating Cyrus Pallonji Mistry as the Executive Chairman of Tata Sons Limited set aside: SC held removal of a person from the post of Executive Chairman cannot be termed as oppressive or prejudicial. Decided on 26th March, 2021 Tata Consultancy Services Limited v. Cyrus Investments Pvt. Ltd. And Ors. For full text of judgmentCLICK HERE

Supreme Court Legal News An action under Section 7 of IBC can be initiated by the financial creditor against a corporate person concerning guarantee offered by it in respect of a loan account of the principal borrower, who had committed default.: SC ruled that even when principal borrower is not a corporate person, it would still be a “corporate debtor” as per Section 3(8) of the Code. Decided on 26th March, 2021 Laxmi Pat Surana v. Union Bank Of India & Anr For full text o...