Between The Lines – Page 2 – Vaish Associates Advocates

Karnataka High Court: Special provisions related to international workers under EPF Scheme and Pension Scheme declared unconstitutional

The Karnataka High Court (“Karnataka HC”), vide its order dated April 25, 2024, in the case of Stone Hill Education Foundation v. Union of India and Others [W.P. No. 18486/2012], has struck down the provisions pertaining to contribution of the provident fund for international workers without any ceiling as to the wages, under paragraph 83 […]

Delhi High Court: Arbitrator can award compensation on guesswork when loss is difficult to prove, subject to maximum amount payable under liquidated damages clause

In the matter of Cobra Instalaciones Y Servicios, S.A. and Shyam Indus Power Solution Private Limited (J.V.) v. Haryana Vidyut Prasaran Nigam Limited [FAO(OS) (COMM) 195/2022 and CMAPPL 32865/2022] decided on April 10, 2024, the Division Bench of Delhi High Court (“Delhi HC”) has held that an Arbitrator can award compensation on guesswork when loss […]

Supreme Court: The payment of unearned increase in value payable to the lessor post a merger or amalgamation of companies upheld

The Supreme Court (“SC”), vide its judgement dated April 5, 2024, in the case of M/s. Jaiprakash Industries Limited (Presently known as Jaiprakash Associates Limited) v. Delhi Development Authority [Civil Appeal No. 8336 of 2009], upheld the payment of unearned increase in the value to the lessor post a merger or amalgamation of companies. Facts […]

Supreme Court: Stamp duty not applicable on every individual increase in the authorised share capital once the cap amount is paid

The Supreme Court (“SC”), vide its judgement dated April 5, 2024, in the case of State of Maharashtra and Another v. National Organic Chemical Industries Limited [2024 SCC OnLine SC 497], has held that stamp duty is not required to be paid on every individual increase in the authorised share capital of the company and the maximum […]

Delhi High Court: Shares registered in favor of the pledgee as the ‘beneficial owner’ does not amount to sale of shares

The Delhi High Court (“Delhi HC”), in its judgement dated April 2, 2024, in the matter of STCI Finance Limited v. Sukhmani Technologies Private Limited [O.M.P. (COMM) 340/2017], has held that mere registration of shares in favour of the pledgee as the ‘beneficial owner’ does not amount to sale of shares, and that the pledgee […]

Supreme Court allows curative petition against an arbitral award

In the matter of Delhi Metro Rail Corporation Limited v. Delhi Airport Metro Express Private Limited [Curative Petition (C) Nos. 108-109 of 2022], decided on April 10, 2024, the Supreme Court (“SC”) bench allowed a curative petition filed by Delhi Metro Rail Corporation Limited (“Petitioner” / “DMRC”) and held that the SC previously erred in […]