Author: Legal Parivar

In a landmark ruling, the Supreme Court of India has clarified that holders of Cumulative Redeemable Preference Shares (CRPS) cannot be classified as financial creditors under the Insolvency and Bankruptcy Code, 2016 (IBC). The judgment draws a clear distinction between equity investment and debt financing, preventing investors from using insolvency proceedings to recover equity-based investments — a key precedent for future insolvency and restructuring cases. Case Background EPC Constructions India Ltd. (EPCC) — formerly Essar Projects India Ltd. — had provided engineering and construction services to Matix Fertilizers and Chemicals Ltd. When Matix failed to pay outstanding dues, both parties…

In a landmark judgment, the Supreme Court of India has clarified that investigating agencies cannot directly summon advocates for routine questioning regarding matters involving their clients. The ruling — issued in a suo motu writ petition — addresses growing concerns over law enforcement practices that compelled advocates to reveal privileged communications, undermining professional ethics and the right to fair legal representation. Key Highlights of the Judgment 1. Absolute Privilege with Limited ExceptionsUnder Section 132 of the Bharatiya Sakshya Adhiniyam (BSA), all professional communications between advocates and clients are protected by confidentiality. Exceptions apply only when such communications are made to…

Case Title: M.C. Mehta v. Union of India & Ors.Citation: 2025 INSC 1274Bench: CJI B.R. Gavai and Justice K. Vinod ChandranDate of Order: October 31, 2025 Summary The Supreme Court of India has rejected an application seeking de-sealing of a commercial premises — Plot No. 106, New Rajinder Nagar Market, New Delhi — filed in the long-standing M.C. Mehta v. Union of India public interest litigation concerning misuse of properties and unauthorized constructions in Delhi. The applicant argued that the building was originally intended for commercial use, relying on historical documents and a 2023 order of the Judicial Committee. However,…

Case Summary: Novenco Building and Industry A/S v. Xero Energy Engineering Solutions Pvt. Ltd. & Anr. (2025 INSC 1256) Bench: Justices Sanjay Kumar & Alok AradheDate of Judgment: October 27, 2025Citation: 2025 INSC 1256Jurisdiction: Supreme Court of India – Civil Appellate Jurisdiction The Supreme Court ruled that suits involving continuing infringement of intellectual property rights inherently contemplate urgent interim relief, and thus are exempt from the mandatory pre-institution mediation under Section 12A of the Commercial Courts Act, 2015. The case arose after Novenco Building and Industry A/S, a Danish manufacturer of patented industrial fans, filed a commercial suit against its…

Kellton Tech Solutions’ shares are expected to remain in focus on Monday after the company announced that its board has approved the issuance of foreign currency convertible bonds (FCCBs) worth $40 million. The announcement was made after market hours on Saturday. On Friday, shares of the small-cap IT firm closed 0.90% lower at ₹21.95 apiece. The stock has shown volatility recently, falling over 8% in the past month but gaining around 3% in the last six months. Over the past five years, the multibagger stock has delivered impressive returns of over 120%. FCCB Issue Details In a regulatory filing dated…

After a year of widespread layoffs, Microsoft CEO Satya Nadella has revealed that the tech giant is preparing to expand its workforce once again — this time with a sharper focus on AI-driven productivity and efficiency. Speaking on the BG2 podcast with investor Brad Gerstner, Nadella confirmed that Microsoft’s employee count will begin to rise again, but in a “smarter, more leveraged way” compared to the pre-AI era. “We will grow our headcount,” Nadella said. “But that headcount will grow with a lot more leverage than what we had pre-AI.” As of June 2025, Microsoft employed around 228,000 people, roughly…

The primary market is set for an action-packed November as several marquee companies gear up to launch their much-awaited initial public offerings (IPO s), with an estimated total issue size of around ₹76,000 crore, according to media reports. Leading the IPO lineup are ICICI Prudential AMC, Groww, Pine Labs, Physics Wallah, and boAt, along with a strong pipeline of mid-cap and renewable energy firms preparing for their market debut. This flurry of activity comes amid buoyant investor sentiment, with both Sensex and Nifty rising over 5% in October, creating a favorable environment for robust subscriptions and strong listing gains. 🔹…

Dredging Corporation of India Ltd (DCIL) announced on Saturday that it has signed 22 Memoranda of Understanding (MoUs) with 16 organisations worth a total of ₹17,645 crore during the India Maritime Week 2025, held in Mumbai from October 27 to 31, 2025. DCIL operates under a consortium of four major ports — Visakhapatnam Port Authority (VPA), Paradip Port Authority (PPA), Jawaharlal Nehru Port Authority (JNPA), and Deendayal Port Authority (DPA) — all functioning under the Ministry of Ports, Shipping & Waterways (MoPSW). Major MoUs and Partnerships The agreements were signed with several major ports — including Visakhapatnam, Paradip, Jawaharlal Nehru,…

India’s gross Goods and Services Tax (GST) collection rose 4.6% year-on-year to around ₹1.96 lakh crore in October 2025, supported by robust festive demand despite a broad reduction in GST rates. The growth came even after the government slashed GST rates on 375 items — including daily essentials, electronics, and automobiles — effective September 22, coinciding with the start of Navratri, a key festive shopping period. Officials said the October collection reflected strong consumer spending during the festive season and pent-up demand that had built up in anticipation of the rate cuts. Many buyers delayed purchases after Prime Minister Narendra…

On a crisp Sunday morning, excitement filled the air at the Satish Dhawan Space Centre (SDSC-SHAR) in Sriharikota as the countdown for India’s next major space milestone began. Standing tall at 43.5 metres, the LVM3-M5 — fondly nicknamed ‘Bahubali’ — was all set on the second launch pad to propel the nation’s heaviest communication satellite, CMS-03, into orbit. A Historic Mission for India’s Space Programme The CMS-03 mission marks a significant leap for India’s space ambitions, showcasing the Indian Space Research Organisation’s (ISRO) growing self-reliance in high-capacity satellite technology. At 4,410 kg, CMS-03 is the heaviest communication satellite ever launched…