Arbitration and Conciliation Act, 1996 — S. 31(7)(a) — Award of interest: Principles clarified relating to validity of award of interest, when there is no specific bar against it under the contract and entitlement to award of interest pendente lite. [Indian Railway Construction Co. Ltd. v. National Buildings Construction Corpn. Ltd., (2023) 7 SCC 390]
Criminal Procedure Code, 1973 — S. 319 — Summoning of additional accused: Principles clarified relating to when exercise of power under S. 319 CrPC is warranted. [Jitendra Nath Mishra v. State of U.P., (2023) 7 SCC 344]
Electricity Act, 2003 — Ss. 61, 73 and 70 — “Change in law” compensation as per contractual restitution clause contained in power purchase agreements (PPAs) — Determination: “Change in law” compensation as per contractual restitution clause contained in specialized contracts like electricity PPAs, determined. Primacy of opinion of expert bodies like CERC and APTEL, explained. [Maharashtra State Electricity Distribution Co. Ltd. v. Adani Power Maharashtra Ltd., (2023) 7 SCC 401]
Insolvency and Bankruptcy Code, 2016 — S. 7 — Discretionary nature of power of NCLT to admit or not admit an application: Review of ruling in Vidarbha Industries, (2022) 8 SCC 352, not warranted. Ruling in E.S. Krishnamurthy, (2022) 3 SCC 161 vis-à-vis the plea that NCLT must either admit the application under S. 7(5)(a), or, it must reject the application under S. 7(5)(b), clarified and distinguished. [Axis Bank Ltd. v. Vidarbha Industries Power Ltd., (2023) 7 SCC 321]
Insolvency and Bankruptcy Code, 2016 — Ss. 52, 53, 30(2) and 31 r/w Ss. 3(30), 3(31), 5(11) and 5(20) — Interest of Secured creditor: Protection of interest of a secured creditor, having only security interest in assets of corporate debtor, in terms of Ss. 52 and 53 IBC, after approval of resolution plan, discussed. [Vistra ITCL (India) Ltd. v. Dinkar Venkatasubramanian, (2023) 7 SCC 324]
National Green Tribunal Act, 2010 — Ss. 14 to 20 and 25 to 30 — Jurisdiction/powers of NGT: Scope of jurisdiction and powers of NGT, explained in detail. Legality of direction passed by NGT for installation of vapour recovery systems (VRS) in new as well as existing petroleum retail outlets, affirmed. [Indian Oil Corpn. Ltd. v. V.B.R. Menon, (2023) 7 SCC 368]
Penal Code, 1860 — S. 302: In this case, deceased allegedly assaulted to death by two appellant-accused herein, father and son, using “tabal” and “axe”. Land dispute between appellants (Appellants 1 and 2) and deceased, was alleged cause of the incident. The High Court upheld conviction of appellants under S. 302 IPC. However, prosecution failed to established case beyond reasonable doubt. Hence, on account of infirmities, accused was given benefit of doubt and conviction of both accused reversed. [Mohd. Muslim v. State of U.P., (2023) 7 SCC 350]
SEBI (Buyback of Securities) Regulations, 1998 — S. 19(3) — Nature and scope of: Scope of role and duties of compliance officer, explained. [SEBI v. V. Shankar, (2023) 7 SCC 356]
Transfer of Property Act, 1882 — S. 53-A — Applicability: The buyer having performed his part of contract and lawfully in possession acquires possessory title which is liable to be protected in view of S. 53-A TPA. Such possessory rights of the buyer cannot be invaded by the seller/transferor or any person claiming under him. Once seller parted with possession of suit property by putting buyer in possession of it under an agreement to sell, held, seller as such, ceased to be in possession of it as an owner. [Ghanshyam v. Yogendra Rathi, (2023) 7 SCC 361]
