Author: Legal Parivar

Subex Limited (BSE: 532348, NSE: SUBEXLTD) announced the appointment of Mr. Venkata Erinti Narayana (DIN: 03345145) as an Additional Director in the category of Non-Executive, Independent Director for a tenure of three years, effective December 25, 2025. The appointment is subject to approval by the company’s shareholders. The decision was made by the Board of Directors based on the recommendation of the Nomination and Remuneration Committee during a meeting held today. Mr. Narayana brings over 30 years of experience spanning investment banking, private equity, fund management, cross-border mergers and acquisitions, project finance, and board-level governance, with a particular focus on…

Vikran Engineering Limited has received a Notification of Award from NTPC Renewable Energy Limited for an EPC contract worth ₹459.20 crore for the 400 MW AC solar project at Chitrakoot-1, Uttar Pradesh. The project is awarded on a balance of system (BOS) basis and includes inland transportation, insurance, installation, testing, commissioning, and guarantee tests. The contract, which is domestically awarded, is scheduled to be executed over a 12-month period. The project forms part of NTPC Renewable Energy’s ongoing initiative to develop grid-connected solar PV capacity in Uttar Pradesh. Vikran Engineering confirmed that the promoters and promoter group have no interest…

The National Highways Authority of India (NHAI) has issued an “intention to termination notice” to Roadways Solutions India Infra Ltd (RSIL) for failing to achieve construction milestones on a 35-km stretch of the Delhi–Mumbai Expressway in Gujarat, according to a report by The Times of India. The notice is the final step before cancellation of the contract. Construction on the affected stretch has progressed at an extremely slow pace, with only 4.9% of physical work completed and just 4.6% of the planned expenditure incurred so far. Two other RSIL-executed packages in Gujarat, measuring 27 km and 25 km respectively, are…

The Supreme Court, in Ramesh Kumar Jain v. Bharat Aluminium Company Ltd (BALCO) (2025 INSC 1457), has restored an arbitral award that was set aside by the Chhattisgarh High Court, reaffirming the narrow scope of judicial interference under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996. The ruling underscores that courts cannot re-appreciate evidence or substitute their own commercial assessment under the guise of “patent illegality”. Background of the dispute In 1999, BALCO awarded a contract to Ramesh Kumar Jain for mining and transporting 2.22 lakh metric tonnes of bauxite from Mainpat to its Korba alumina plant…

Zepto is set to pre-file its draft red herring prospectus (DRHP) under the confidential route on December 26 and is targeting a public listing next year, sources told Moneycontrol. If the plan materialises, the quick commerce unicorn could become one of the youngest startups to debut on Indian stock exchanges. Founded in 2020, the Bengaluru-based company is expected to go public in 2026—around six years after its inception. Honasa Consumer, which runs Mamaearth, had listed about seven years after being founded, making Zepto’s proposed timeline among the fastest for an Indian unicorn. “Zepto’s pre-filing work is complete, and the company…

Delivery workers across major food delivery and e-commerce platforms such as Swiggy, Zomato, Zepto, Blinkit, Amazon, and Flipkart have announced an all-India strike on December 25 and December 31, 2025, intensifying pressure on platform companies over deteriorating working conditions in the gig economy. The nationwide strike has been called by the Telangana Gig and Platform Workers Union (TGPWU) and the Indian Federation of App-Based Transport Workers (IFAT), and is expected to see participation from delivery partners in metropolitan cities as well as major tier-2 urban centres. In a joint statement, the unions said delivery workers — who play a critical…

India implemented a major tax overhaul in 2025, introducing sharp Goods and Services Tax (GST) rate cuts and raising the income tax exemption limit. With these reforms largely in place, the government is now turning attention to rationalising customs duties and simplifying procedures in the upcoming Budget. Starting April 1, 2026, the new Income Tax Act, 2025 will replace the six-decade-old 1961 Act. In addition, two new laws—levying extra excise on cigarettes and a cess on pan masala—will be implemented on dates notified by the government. These measures aim to stimulate domestic demand amid global economic uncertainties, boost consumption, and…

The year 2025 proved volatile for the markets, particularly hitting small- and midcap stocks hard. While benchmark indices touched new highs, the broader market experienced notable declines. Here’s a look at the five biggest losers on the Nifty 500 index this year: 1. Aditya Birla Fashion and Retail (ABFRL)Aditya Birla Fashion and Retail (ABFRL) emerged as the worst performer, wiping out over 72% of investors’ wealth in the past year. The company underwent a major demerger in May 2025, splitting into ABFRL and Aditya Birla Lifestyle Brands (ABLBL), with shareholders receiving one ABLBL share for each ABFRL share. 2. Tejas…

The Supreme Court of India dismissed the appeals filed by M/s Shri Karshni Alloys Private Limited challenging the National Company Law Appellate Tribunal (NCLAT) majority decisions in the liquidation proceedings of M/s Surana Industries Limited. The bench of Justices Sanjay Kumar and Alok Aradhe upheld the forfeiture of amounts paid by the appellant for the purchase of assets at Raichur, Karnataka. Background The corporate insolvency resolution process (CIRP) against Surana Industries was initiated in January 2018, with liquidation commencing in October 2018. The company owned assets in Gummidipoondi, Tamil Nadu, and Raichur, Karnataka. While the Gummidipoondi assets were sold, the…

Case: DIT (IT)-I, Mumbai v. American Express Bank Ltd. (with CIT v. Oman International Bank)Citation: 2025 INSC 1431 The Supreme Court has clarified the scope of Section 44C of the Income-tax Act, 1961, ruling that foreign head‑office expenses of non-resident banks—whether common or incurred exclusively for Indian operations—are subject to the statutory ceiling. Background American Express Bank and Oman International Bank, both non-resident banks with branches in India, sought deductions under Section 37(1) for expenses incurred at their overseas head offices exclusively for Indian branch operations (e.g., NRI deposit solicitation, travel, audits, and certifications). Assessing Officers capped these deductions under…