Tribunals/Commissions/Regulatory Bodies Archives

Punjab National Bank illegal money transfer email hacking

Case Briefs Tribunals/Commissions/Regulatory Bodies

A Senior Citizen NRI’s Hacked Email and an Unverified Transfer of USD 92,420: PNB Held Liable and Directed to Pay Unrecovered Amount with Interest

A senior citizen NRI’s email was hacked, and Punjab National Bank wired USD 92,420 to Singapore on email instructions alone, without verification or authentication. The Adjudicating Officer held the bank liable for the unrecovered balance, with interest.

Section 13(2) SARFAESI personal guarantee invocation NCLAT

Case Briefs Tribunals/Commissions/Regulatory Bodies

Mentioning Personal Guarantor as “Director” in SARFAESI demand notice cannot frustrate S. 95 IBC proceedings if terms of guarantee deed are satisfied: NCLAT

The Tribunal clarified that whether a SARFAESI notice amounts to invocation of a personal guarantee depends entirely on the contractual terms governing the guarantee and the language of the demand notice. Courts must examine the substance of the communication rather than its form or the designation assigned to the guarantor.

Case Briefs Tribunals/Commissions/Regulatory Bodies

11,000 litres of milk and more than 200 sarees offered in Narmada; NGT directs MP PCB to remain vigilant during religious gatherings

The NGT observed that although there is no law which bars the offering of milk during rituals, discharge of milk in such large quantities should be avoided.

Vodafone cyber fraud sim swap money siphoning

Case Briefs Tribunals/Commissions/Regulatory Bodies

Vodafone Held Liable for Negligent Duplicate SIM Issuance in SIM-Swap Fraud; Central Bank Directed to Pay Interest for Delayed Fund Release

The Court held that the telecommunication services provider was liable for its negligent issuance of a duplicate SIM card leading to SIM-Swap fraud, and Central Bank of India cannot be fully absolved of their auxiliary liability as they failed to perform the physical release and remittance of the contractually frozen amount back to the complainant even after an interim order, thereby unlawfully disrupting the velocity of the complainant’s capital despite the clear judicial intervention of the Court.

Case Briefs Tribunals/Commissions/Regulatory Bodies

SCDRC issues fresh arrest warrants against Angle Infrastructure Directors after Delhi HC declines interim protection

The Commission said that, in the absence of any restraint order from the Delhi High Court, there was no basis to halt the execution proceedings and directed that the matter continue in accordance with law.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Chaayos Said the Service Charge Was Voluntary but Its Own Billing Software Said Otherwise: CCPA Imposes ₹50,000 Penalty

The CCPA observed that Chaayos has a substantial consumer reach and market presence as the restaurant has more than 180+ outlets in India, and levy of service charge by default on bill has the potential to affect a large number of consumers.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Trick Question, Forced Action, Interface Interference: CCPA Identifies Three Dark Patterns on SpiceJet’s Booking Platform, Imposes ₹1 Lakh Penalty

CCPA observed that SpiceJet designed its interface in a manner that favoured enrolment into the SpiceClub Loyalty Program and subscription to promotional communications through pre-selected options, resulting in unfair trade practices, misleading representations and impairment of consumer choice and informed decision-making.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Builder Received Home Loan Amount, Defaulted on Repayment, Yet SBI Proceeded Against Homebuyers: Rajasthan RERA Steps In and Restrains Coercive Recovery

The authority restrained the respondents from carrying on or continuing any action detrimental to the complainants’ interests in respect of the 2 flats and directed SBI not to take any coercive action against the complainants for recovery of the amount.

Refund of unutilized accumulated CENVAT Credit

Case Briefs Tribunals/Commissions/Regulatory Bodies

Investment advisory services to overseas entity/recipient to be considered as “export of service”: CESTAT Mumbai allows unutilised CENVAT credit refund

“The appellant had exported the services to the overseas entity/recipient, such service should be considered as ‘export of service’ and the resultant benefit of refund of the accumulated CENVAT Credit available in the books of account should be available to the appellants.”

Environmental compensation for illegal tree felling

Case Briefs Tribunals/Commissions/Regulatory Bodies

NGT Assesses Over ₹2.65 crores Environmental Compensation for Illegal Felling of 33 Trees in BHU Campus; Directs UP PCB to Complete Levy Proceedings Within 3 Months

Considering the circumstances which were disclosed, the National Green Tribunal further extended the time and directed the UP PCB to complete the proceedings concerning the levy of environmental compensation.

Refund with interest and additional compensation under RERA

Case Briefs Tribunals/Commissions/Regulatory Bodies

Builder Delayed Delivery of Possession by 4-5 Years and Blamed COVID. Rajasthan RERA Says That Doesn’t Fly; Awards Additional Compensation on Top of Refund with Interest

The Authority noted that the complainant had suffered mental and physical agony, besides losing the opportunity to own a house, particularly in view of the increase in property prices.

data theft ad-interim injunction proprietary customer database

Case Briefs Tribunals/Commissions/Regulatory Bodies

Stolen Leads, Fake Booking IDs, ₹66 Lakh Revenue Loss: How a Spreadsheet Led to an Ex-Parte Injunction in Cordelia Cruises’ Data Theft Case

The Court passed an ex-parte ad-interim injunction against the respondents on ground of data theft, protecting complainant’s proprietary customer database upon observing that a prima facie case has been established showing unauthorized data copying, download, and extraction within the strict definition of Section 43(b), Information Technology Act, 2000.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Section 99 IBC Resolution Professional’s report not mandatory where guarantor status admitted: NCLAT Chennai upholds Section 95 IBC application

“…the provisions of Section 99 of the Insolvency and Bankruptcy Code, 2016, are procedural and are only for the purposes of recommending for approval or rejection of the application, where the recommendation would have to be based upon the facts and evidence presented to the Resolution Professional or collected by him under the powers conferred upon him to call for records and evidence.”

oppressive share allotment in MBG Commodities

Case Briefs Tribunals/Commissions/Regulatory Bodies

Share allotment diluting majority shareholder held oppressive: NCLT Hyderabad cancels Rs 2.5 crore share allotment in MBG Commodities

“Section 242 casts a higher threshold on the petitioner to demonstrate that the affairs of the Company are being conducted in a manner oppressive to any member or prejudicial to the interests of the Company, or that circumstances exist warranting its winding up on just and equitable considerations.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Construction services provided to Tsunami affected areas, not “Commercial or Industrial Construction Service”: CESTAT quashes Service Tax demand on Pal Promoters

Pal Promoters Pvt. Ltd. not liable to pay service tax on the construction services rendered to Tamil Nadu Police Housing Corporation (TNHPCL), Tsunami District Implementation Unit, Pudukkotai (TDIU) and for Peoples Development Association (PDA) and the demand is to be set aside as does not fall under Commercial or Industrial Construction Service.

Case Briefs Tribunals/Commissions/Regulatory Bodies

CCI approves 100% acquisition of Royal Challengers Bengaluru’s parent company

The Competition Commission of India (CCI) has approved the acquisition of 100% shareholding of Royal Challengers Sports Private Limited, the parent company of Royal Challengers Bengaluru, by a consortium comprising entities of the Aditya Birla Group, Times Group, ICONIQ Group, Blackstone-backed funds and other investors.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Mumbai DRT imposes costs of ₹1 on Bank of Maharashtra’s MD for repeated non-compliance in Lilavati recovery case

“In the Lilavati Foundation recovery proceedings, Debts Recovery Tribunal Mumbai noted repeated non-compliance by Bank of Maharashtra with its earlier directions. The Tribunal ordered disclosure of sealed documents and sought complete compliance from the Bank, while also directing SBM Bank to furnish account records relevant to the case”

Loss of original property documents by bank after loan closure

Case Briefs Tribunals/Commissions/Regulatory Bodies

Bank Liable for Loss of Title Documents After Loan Repayment: DCDRC

Bank’s failure to return original property documents after full repayment of a housing loan despite RBI’s mandate to do so within 30 days, constitutes deficiency in service: DCDRC

Case Briefs Tribunals/Commissions/Regulatory Bodies

Sale of Non-BIS Certified Toys on Snapdeal an Unfair Trade Practice; CCPA Penalises Stallion Trading Company under Consumer Protection Act

The Central Consumer Protection Authority in exercise of its powers under the Consumer Protection Act, 2019, took suo motu cognizance against Stallion Trading Company for sale of Toys on Snapdeal (an E-Commerce platform) which allegedly do not conform to BIS standards as made mandatory under Toys (Quality Control) Order, 2020

Section 16(1)(a) company name rectification

Case Briefs Tribunals/Commissions/Regulatory Bodies

MCA Holds No Trade Mark Needed to Seek Company Name Rectification under Section 16(1)(a) of Companies Act

The Regional Director, Ministry of Corporate Affairs, held that the absence of a registered trade mark does not bar an existing company from seeking rectification of a later company’s identical or deceptively similar name under Section 16(1)(a), Companies Act, 2013, and directed the respondent company to change its name within 3 months.