LiveLawBiz’s October 14, 2026 roundup, updated October 15 at 04:37 GMT, highlights decisions and regulatory moves that affect insolvency timelines, tax appeals, arbitration drafting, securities disclosures, real-estate claims and money-laundering cases.
The most consequential developments include the Supreme Court’s limitation ruling for NCLAT appeals, scrutiny of GST pre-deposit relief for companies in liquidation, new insolvency admissions, a proposed SEBI freeze on promoters’ demat accounts, and bail in a large PMLA prosecution.
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Monetary stakes reported in the roundup
| Matter | Amount or value | Procedural setting |
|---|---|---|
| Sagar Autotech personal-guarantor insolvency | ₹3.95 crore | NCLT Indore admission |
| Notion Press share-cancellation settlement | ₹3.75 crore | NCLT Chennai approval |
| SpiceJet bank-account direction | ₹58.80 lakh | Delhi High Court interim protection |
| NHAI arbitration dispute | ₹4.37 crore claim; nil award upheld | Delhi High Court challenge |
| Bengaluru flat dues | ₹2.45 lakh | Karnataka REAT order |
| State Nirmithi Kendra deposits | ₹3 crore | Kerala High Court banking dispute |
| Concast Steel PMLA case | ₹6,210 crore | Supreme Court bail decision |
| Income-tax demand involving a security guard | ₹3.91 crore | Delhi High Court quashing order |
| Pernod Ricard reassessment notice | ₹8.12 crore | Delhi High Court refusal to quash |
Insolvency and bankruptcy
NCLAT appeal time runs from pronouncement
The Supreme Court headline says the limitation period for challenging an NCLAT order begins when the order is pronounced, not when a certified copy is received. Companies and creditors should therefore record the pronouncement date and avoid treating a later copy as a fresh starting point.
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GST pre-deposit for companies in liquidation
The Delhi High Court is examining whether a company in liquidation can obtain an exemption from the GST pre-deposit normally required to appeal. The issue matters to liquidators because a mandatory deposit can consume funds otherwise available for distribution, while an exemption could allow a challenge to proceed without that immediate outlay.
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Personal-guarantor proceeding against Sagar Autotech
NCLT Indore admitted an insolvency plea against Sagar Autotech’s personal guarantor. The admission places the guarantor’s obligations within the insolvency framework and shows that creditor action can continue against a guarantor even when the underlying corporate distress is the practical background.
GIMCO enters corporate insolvency resolution
NCLT Ahmedabad admitted GIMCO into the corporate insolvency resolution process under Section 10 and appointed an interim resolution professional. A Section 10 filing is initiated by the corporate applicant itself; once admitted, management and records move into the statutory resolution process.
Former resolution professional must hand over records
NCLT Indore held that an erstwhile resolution professional cannot refuse to transfer records to a liquidator by invoking functus officio. The ruling reinforces continuity of custody: records needed for liquidation remain deliverable even after the earlier appointment ends.
Tax and customs decisions
Electric two-wheelers shipped without batteries
CESTAT Delhi held that completely knocked-down electric two-wheelers imported without batteries and chargers do not qualify for the claimed customs-duty exemption. Importers must match the exemption’s technical conditions to the goods actually declared, rather than relying on the vehicle’s eventual assembled form.
Airline cancellation charges
CESTAT Delhi treated airline cancellation charges as compensation for breach of contract, not consideration for a taxable service. The classification affects how carriers and passengers account for amounts retained when a booking is cancelled.
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Income-tax demand caused by PAN misuse
The Delhi High Court quashed a ₹3.91 crore income-tax demand raised against a security guard after his PAN was misused. The decision underscores the need for the tax authority to connect the disputed income to the actual taxpayer before enforcing a large demand.
Pernod Ricard reassessment survives challenge
The Delhi High Court refused to quash Pernod Ricard’s ₹8.12 crore reassessment notice. At this stage, the court left the reassessment proceeding in place; the refusal is not a final determination of the underlying tax liability.
Fresh claims cannot be built on new facts in revision
The Supreme Court said taxpayers cannot introduce fresh claims founded on new facts during revision proceedings. Parties must present the factual basis for a claim in the proceeding where it can properly be examined, rather than using revision to create a new case.
Intellectual-property enforcement
Pre-litigation mediation in the counterfeit-cigarette case
The Calcutta High Court refused ITC an exemption from pre-litigation mediation. The order keeps the statutory mediation requirement in place before the trademark and counterfeit-cigarette dispute can proceed as ordinary litigation.
Protection for live sports streams
The Delhi High Court blocked 20 rogue websites from streaming DAZN’s Serie A matches. The injunction targets unauthorised online dissemination and gives the rights holder a route to seek rapid blocking of identified domains.
Online piracy injunction for an upcoming film
The Delhi High Court protected Amazon’s upcoming film “Nayyi Naveli” from online piracy before its release. Pre-release orders are designed to prevent copies or streams from appearing when enforcement would otherwise be difficult to reverse.
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Mediation requires consent
NCLT Ahmedabad rejected Lendingkart’s request to send its dispute to mediation, holding that consent of the parties is essential. A tribunal cannot impose a consensual mediation route on an unwilling party.
Notion Press settlement approved
NCLT Chennai approved a settlement involving Notion Press and ordered the agreed payout for share cancellation. The approval gives the negotiated arrangement tribunal effect and closes the dispute on the terms sanctioned by the bench.
Arbitration and commercial litigation
SpiceJet account-maintenance direction
In a travel-agent dispute, the Delhi High Court directed SpiceJet to maintain the specified funds in its bank accounts while the matter proceeds. Such an interim direction preserves assets so a later award or order is not rendered ineffective.
Conditional stay of the Shapoorji Pallonji award
The Calcutta High Court conditionally stayed the award against the West Bengal Housing Board. “Conditional” relief means the stay is tied to compliance with conditions set by the court, rather than an unconditional suspension of enforcement.
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Seat of arbitration cannot be inferred from a clause alone
The Supreme Court held that an arbitration clause by itself cannot determine the seat when the agreement specifies multiple places. Contract drafters should identify the juridical seat expressly and distinguish it from venues where hearings may occur.
NHAI nil award and proof of extra work
The Delhi High Court upheld the nil award in the NHAI dispute and said claims for extra work require proof. Contractors must establish that additional work was authorised, performed and valued; assertions unsupported by project records will not automatically create arbitral liability.
Rejection of mediation does not defeat a later suit
The Delhi High Court held that a defendant who rejects pre-institution mediation cannot later challenge the suit solely for non-compliance with that process. A party cannot rely on its own refusal to manufacture a procedural bar.
Securities regulation
SEBI proposal on IPO-fund disclosures
SEBI has proposed freezing promoters’ demat accounts when they fail to disclose how IPO proceeds were used. The measure is a proposal, not an already effective sanction, but it signals a sharper enforcement response to unexplained or undisclosed deployment of public-issue funds.
RERA and housing disputes
Bengaluru homebuyer dues
Karnataka’s Real Estate Appellate Tribunal upheld an order requiring a homebuyer to pay the outstanding amount on a Bengaluru flat. The decision leaves the payment direction operative.
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Unishire attachment and final K-RERA orders
The Karnataka High Court upheld the attachment involving Unishire and said a final K-RERA order cannot be reopened through a later challenge. Parties must use the prescribed appeal route and cannot relitigate a concluded determination indirectly.
Banking, NBFC and debt-recovery rulings
State Nirmithi Kendra deposits
The Kerala High Court rejected State Nirmithi Kendra’s request to withdraw its bank deposits prematurely. The ruling keeps the deposits in place while the underlying dispute is resolved.
Auction purchaser’s interest claim
The Karnataka High Court held that an auction purchaser cannot seek interest through a writ petition after the National Consumer Disputes Redressal Commission has rejected that claim. A writ proceeding is not a substitute for an unsuccessful statutory remedy.
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PMLA bail decision
Concast Steel managing director released on bail
The Supreme Court granted bail to Concast Steel managing director Sanjay Surekha in the PMLA case described as involving ₹6,210 crore. Bail determines custody during the case; it does not decide whether the prosecution’s allegations will ultimately be proved.
Quick Recap
Practical takeaways for companies and investors
- Log the exact date an NCLAT order is pronounced and calculate limitation from that date.
- Keep liquidation, resolution and handover records complete; a change in office does not justify withholding the file.
- State the arbitration seat clearly when drafting contracts that name more than one city.
- Preserve approvals, measurements and invoices for alleged extra work on infrastructure projects.
- Reconcile IPO proceeds and make required disclosures before a regulator’s proposed account-freezing mechanism becomes effective.
- Separate interim relief, admission, bail and final merits decisions when assessing litigation exposure.
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