PMLA case

Delhi High Court: “Guilt by Association Insufficient; No Material Showing Proceeds of Crime” — Grants Bail to Founding Member of Popular Front of India (PFI) and Former National President of Social Democratic Party of India (SDPI) in PMLA Case; Section 45 Twin Conditions Held Satisfied

Court’s decision The Delhi High Court granted regular bail to the applicant in ECIR/STF/17/2022, holding that the stringent twin conditions under Section 45 of the Prevention of Money Laundering Act,…
IBC

Supreme Court of India: “IBC Cannot Restructure Ownership of Natural Resources” — Holds Spectrum Is Not a Corporate Asset; Licence and Spectrum Usage Dues Are Sovereign Considerations, Not Operational Debt; Government Dues Cannot Be Wiped Off in Insolvency

Court’s decision The Supreme Court of India allowed the appeals filed by the Union of India and set aside key findings of the National Company Law Appellate Tribunal (NCLAT), holding…