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Supreme Court Rules Parity Cannot Be The Sole Basis For Granting Bail

The Supreme Court has clarified that courts cannot grant bail to an accused person solely on the grounds of parity with a co-accused. Judicial authorities must independently evaluate individual roles and merits before releasing any applicant. This judgment reinforces stricter scrutiny in criminal jurisprudence.

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For professionals: Review pending bail matters to ensure robust and individualized arguments are presented instead of relying primarily on co-accused outcomes. · Focus on individual conduct, distinct criminal history, and specific evidence rather than mechanical replication of relief granted to others.

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Apex Court Upholds Validity Of Resolution Plans Priced Below Liquidation Value

The Supreme Court ruled that a resolution plan under the Insolvency and Bankruptcy Code remains legally valid even if it proposes an amount lower than the liquidation value. The ruling prioritizes commercial wisdom of the Committee of Creditors over rigid valuation metrics. This decision impacts how corporate debt restructuring plays out.

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For professionals: Advise creditors to document the comprehensive commercial rationale behind accepting sub-liquidation bids. · Recognize that the commercial wisdom exercised by the Committee of Creditors holds supreme authority in evaluating and approving restructuring proposals.

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Allahabad High Court Quashes Tax Demands Raised Under Omitted Rule 9610

The Allahabad High Court has set aside goods and services tax demands that authorities raised under Rule 96(10), which has since been omitted. The ruling provides significant relief to taxpayers facing recovery proceedings based on defunct provisions. Judicial intervention halts enforcement actions tied to retrospective or outdated compliance hurdles.

Effective Not specified in the update

For professionals: Audit client files immediately to identify any active demands linked to the omitted rule. File writ petitions or rectification applications for clients facing recovery notices under the omitted provision.

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TVS Motor Reports Twenty Nine Percent Sales Growth In October

TVS Motor Company reported a 29% year-on-year sales increase to 7,00,134 units in October 2026. Two-wheeler sales also rose by 28% to 6,70,679 units during the same period. Electric two-wheeler sales saw significant growth of 120%, reaching 71,382 units. International business sales increased by 51%, while three-wheeler sales r

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NCLAT Delhi Rules Pre-CIRP Valuations Cannot Replace Registered Valuers Report

The National Company Law Appellate Tribunal in Delhi held that pre-CIRP valuations cannot override the formal report submitted by registered valuers during insolvency proceedings. The appellate authority reinforced statutory valuation protocols mandated under insolvency rules. This decision ensures transparency and consistency in corporate asset assessment.

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Congress Party Leader Leads Thousands Demanding Election Chief Resignation

Large crowds gathered on Sunday under the leadership of Congress party chief Rahul Gandhi to demand the resignation of the election chief. Participants alleged that a controversial electoral revision unfairly favors Prime Minister Narendra Modi's Hindu nationalist Bharatiya Janata Party.

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NCLAT Bars Suspended Directors From Challenging Approved IBC Plans Based On Valuation

The National Company Law Appellate Tribunal ruled that suspended directors lack the standing to challenge an approved insolvency resolution plan on valuation grounds. The decision prevents former management from delaying corporate revival processes through valuation disputes. Creditor commercial wisdom remains protected from external managerial interference.

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Bombay High Court Rules Witness Summons Cannot Be Denied For Procedural Lapses

The Bombay High Court ruled that courts cannot refuse to issue witness summons merely due to minor procedural lapses. Judicial bodies must facilitate fair adjudication rather than dismissing applications on technicalities. This judgment protects litigant rights in civil and commercial proceedings.

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Emkay predicts muted impact from upcoming US midterms on bilateral ties and Indian markets

Emkay analysts indicate that the 2026 US midterms will have minimal direct influence on India-US relations. Domestic equities will remain driven primarily by global crude prices, the US dollar strength, and bond yields.

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CESTAT Kolkata rules that retracted statements cannot independently establish clandestine removal charges

The tribunal held that a retracted statement requires corroborative physical evidence to prove clandestine clearance of goods. Departmental actions alleging duty evasion must be supported by independent tangible proof rather than solely relying on disputed testimonies.

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CESTAT Delhi limits parallel invoice evidence to specific transactions without broad retrospective application

The tribunal determined that parallel invoices demonstrate undervaluation for current shipments but cannot automatically justify enhancing values for historical imports. Each consignment must be assessed independently based on concrete transactional evidence.

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CESTAT Delhi restricts parallel invoice findings from automatically inflating historical customs import values

The tribunal clarified that while parallel invoices establish customs undervaluation for active cases, they cannot serve as the sole basis for wholesale enhancements of prior imports. Authorities are required to examine each import bill independently.

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