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National Anti-Profiteering Authority (NAA). The anti-profiteering provisions under the GST law makes it is mandatory for suppliers of goods and services to pass on the benefit of any reduction in the rate of tax, or the benefit of input tax credit, to recipients by way of commensurate reduction in prices. A Bench led by Chief Justice DY Chandrachud issued notice to the Finance ministry, the National Anti-profiteering Authority, its Director General, the Central Board of Indirect Taxes and Customs, and the GST Council on an appeal by Excel Rasayan alleging that the provisions are «manifestly arbitrary and violative of Article 14 of the Constitution of India» as they do not provide any methodology or objective parameters for computation of profiteering. The provisions do not define «commensurate benefit,» which is imperative for determining profiteering, said the petitioner.

Insolvency and Bankruptcy Board of India to finalise the code of conduct or guidelines preferably in three months for the effective functioning of the committee of creditors (CoC). The finalisation of the guidelines should be done without diluting the sanctity of the «commercial wisdom» of the committee of creditors and the legislative intent of Insolvency and Bankruptcy Code, 2016, it observed. Expressing displeasure over how the board hasn’t yet framed the guidelines, Justice Purushaindra Kumar Kaurav noted that the board had notified a discussion paper in 2021 on various issues, including the code of conduct for the CoC.

₹2 lakh. “QCOs are issued in the interest of consumers, so that end-users should get a quality product and manufacturers should comply with prescribed standards.

Delhi High Court on Monday refused to entertain a public interest litigation alleging violation of people's right to privacy by Truecaller, a leading global caller ID platform. A bench headed by Acting Chief Justice Manmohan orally said it will dismiss the petition by Ajay Shukla, noting that the issue raised by him had been brought up before the Supreme Court through another plea which was withdrawn without the apex court granting him any liberty to approach the high court. «You can't re-litigate. This will amount to abuse of process of law. Dismissed as withdrawn means you can't re-litigate,» the bench, also comprising Justice Manmeet PS Arora, said. «Nothing has been disclosed in this petition. That's the beauty of it,» the court remarked.

plea of the Thackeray faction was listed for hearing on Monday but the matter could not be taken up during the day due to paucity of time. “Let them (Shinde faction) file a response. The notice was issued earlier," senior advocate Kapil Sibal, appearing for the Thackeray faction, told the bench comprising Chief Justice DY Chandrachud and Justices JB Pardiwala and Manoj Misra.

Supreme Court said on Monday it will list the plea of the Uddhav Thackeray faction challenging Maharashtra Assembly Speaker Rahul Narwekar's order declaring the Shiv Sena bloc led by Chief Minister Eknath Shinde as the «real political party» after the outfit's split in June 2022. The plea of the Thackeray faction was listed for hearing on Monday but the matter could not be taken up during the day due to paucity of time. «Let them (Shinde faction) file a response. The notice was issued earlier,» senior advocate Kapil Sibal, appearing for the Thackeray faction, told the bench comprising Chief Justice D Y Chandrachud and Justices JB Pardiwala and Manoj Misra. «We will list it,» the CJI said.

An Australian court has dismissed allegations relating to Block Earner’s DeFi “Access” service in a legal case brought by the Australian Securities and Investments Commission (ASIC).

₹1.25 lakh on each of them. Meanwhile, the fifth convict, Ajay Sethi, was handed down three years of simple imprisonment under section 411 (dishonestly receiving stolen property) of the IPC. The trial court had imposed a fine of ₹7.25 lakh on Sethi.

ED to file its reply on Soren's petition. The former Chief Minister was arrested by the probing agency on January 31 in a money laundering case linked to an alleged land fraud. The Jharkhand Mukti Morcha (JMM) leader was remanded to the ED custody on February 2 by a special Prevention of Money Laundering Act (PMLA) court in Ranchi for five days.

Delhi High Court on Monday granted bail to four convicts serving life imprisonment in the murder case of TV journalist Soumya Vishwanathan. A bench of Justices Suresh Kumar Kait and Manoj Jain suspended the sentence of Ravi Kapoor, Amit Shukla, Baljeet Singh Malik and Ajay Kumar till the pendency of their appeals challenging their conviction and sentence. The bench noted that the convicts have been in custody for 14 years. The high court had on January 23 asked the Delhi Police to respond to the appeals filed by the four convicts.

Indian Oil Corp (IOC) to nominate an arbitrator each within a week to resolve their dispute involving Essar Steel. The apex court also set aside the October ruling of the Delhi high court which had rejected IOC's plea for the appointment of an arbitral tribunal to settle its claims. According to the top court's directive, the nominated arbitrators will need to appoint a third arbitrator to complete the formation of the arbitral tribunal.

Ajay Kumar Mishra's son Ashish Mishra in the 2021 Lakhimpur Kheri violence which claimed eight lives. A bench of Justices Surya Kant and K V Viswanathan directed the apex court registry to obtain a report from the trial court on the progress of the case and adjourned the matter. On September 26 last year, the top court had relaxed the bail conditions of Mishra to enable him to visit and stay in the National Capital Region (NCR) to look after his ailing mother and for the treatment of his daughter. The case pertains to an incident of violence on October 3, 2021, in which eight people, including four farmers, were killed in Tikunia in Lakhimpur Kheri district of Uttar Pradesh.

Indian Navy veterans and freeing them of espionage charges marks a significant diplomatic breakthrough between India and Qatar. The former Indian Navy personnel are Captain Navtej Singh Gill, Captain Saurabh Vashisht, Commander Purenendu Tiwari, Captain Birendra Kumar Verma, Commander Sugunakar Pakala, Commander Sanjeev Gupta, Commander Amit Nagpal and Sailor Ragesh. All of these former Navy officers had "unblemished stints" of up to 20 years in the Indian Navy.

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Kuwait, seven of the eight Indian navy veterans who were sentenced to death on 'espionage' charges, heaped praise on Prime Minister Narendra Modi, saying they wouldn't have been freed had it for the sustained diplomatic efforts at his behest to secure their release. Their death sentence was later commuted to an extended prison term following sustained diplomatic interventions and legal assistance from New Delhi. Relieved to finally walk free, the seven former Navy officers raised chants of 'Bharat Mata ki Jai' after arriving at the Delhi airport in the early hours of Monday.

Indian Navy veterans, previously sentenced to prison terms in Qatar, have been released and returned to India, marking a significant diplomatic achievement for New Delhi. The Ministry of External Affairs confirmed the return of seven out of the eight veterans, who had faced dire legal circumstances in Qatar. Who are the eight ex-Navy veteran? The roster of the detained veterans comprises esteemed naval officers and a sailor, each with a distinct professional journey.

India, eight veterans of the Indian Navy who were sentenced to death in Qatar, were released by Doha on Monday. The capital punishment was commuted to an extended prison term earlier following diplomatic intervention by New Delhi. Amid desperate pleas by the anxious kin of the Navy veterans to secure their release and safe passage back to their homeland, the Ministry of External Affairs (MEA) had assured that it would mobilise all diplomatic channels and arrange legal assistance to bring them back.

South Korean prosecutors have suffered a blow in their efforts to shut down kimchi premium crypto traders – with 14 suspects cleared of wrongdoing.

National Company Law Tribunal (NCLT) has dismissed a petition filed by Ashdan Properties against Chemhub Tradelink's committee of creditors-approved resolution plan for Pancard Clubs. Ashdan was one of the three bidders interested in acquiring the bankrupt Pancard, which develops and operates hotels and resorts. Pancard Clubs has more than 1.5 million timeshare subscribers, who are classified as financial creditors. In its ruling, dismissing Ashdan's appeal, the court said around 23% of the financial creditors participated in the voting process, with a clear majority of 19.38% voting in favour of the resolution plan proposed by Chemhub Tradelink. The tribunal recommended that the Insolvency & Bankruptcy Board of India (IBBI) use Pancard as a case study to form guidelines for instances where a single insolvency professional acts as the authorised representative of a large number of financial creditors.

Securities Appellate Tribunal (SAT) may have to hear afresh cases involving Sahara India, Bombay Dyeing and Franklin Templeton among several others, as two of its three members including the presiding officer retired before the final orders could be delivered. The two members retired last year, and the government has yet to appoint their replacements. Lawyers expect potential delays in the appellate body pronouncing its orders in these cases, which will have to be heard again when the new members come in.

Bengaluru to protest the proposed construction of a 10-storey annexe for the Karnataka High Court in the city's famous Cubbon Park. Biocon founder Kiran Mazumdar-Shaw added her voice to the protest, posting on social media platform X that courts could not rule on environmental issues if they themselves were culprits!.. “High Courts must be future-looking as they will need to transform into online and virtual courts, not buildings that destroy the environment,” she tweeted. The Bengaluru Residents Welfare Association organised Sunday’s protest with the Cubbon Park Walker’s Association (CPWA) under the hashtag #ChaloCubbon. The associations have invited the public to protest in the park every weekend until the government withdraws the proposed construction.