1. Jindal Cocoa LLP v. Reserve Bank of India (2025)

• The Bombay High Court addressed the reversal of interest subvention benefits on export credit loans.
  
• Jindal Cocoa LLP challenged the interpretation of RBI’s Master Circular on export credit.
  
• The court emphasized adherence to RBI guidelines by banks when granting export credit.
  
• It highlighted the need for clarity in the application of interest subvention schemes.
  
• The judgment reinforced the protection of exporters’ rights under RBI regulations.
  

2. Narottamka Trade & Vyapaar Pvt. Ltd. v. SPP Insolvency Professionals LLP (2024)

• NCLAT upheld the sale of Kamachi Industries Ltd. as a going concern during liquidation.
  
• The appellant’s plea for a Scheme of Arrangement under Section 230 of the Companies Act was rejected.
  
• The tribunal favored the IBC framework over the Companies Act for insolvency resolutions.
  
• It clarified that sale processes under IBC take precedence over alternative arrangements.
  
• The decision reinforced the primacy of IBC procedures in corporate insolvency cases.
  

3. Deloitte Haskins & Sells LLP v. Union of India (2025)

• NCLAT dismissed appeals challenging the rejection of applications filed by Deloitte and others.
  
• The case involved the role of auditors in insolvency proceedings and their liabilities.
  
• The tribunal emphasized the responsibilities of auditors under the IBC framework.
  
• It clarified the extent of auditors’ accountability in corporate insolvency contexts.
  
• The judgment underscored the importance of due diligence by professional firms.
  

4. Supreme Court on NCLAT’s Inherent Powers (2024)

• The Supreme Court set aside NCLAT’s order allowing Byju’s to withdraw from insolvency proceedings.
  
• It ruled that NCLAT misused its inherent powers under Rule 11 of the NCLAT Rules.
  
• The court emphasized strict adherence to Section 12A of the IBC for withdrawal of CIRP.
  
• It highlighted the need for procedural compliance in insolvency resolutions.
  
• The judgment reinforced the structured framework of the IBC over discretionary powers.
  

5. Light Ray Advisors LLP v. Deputy Commissioner of Income Tax (2025)

• The Income Tax Appellate Tribunal addressed tax assessments of LLPs engaged in investment advisory.
  
• It dealt with issues related to income recognition and expense claims by LLPs.
  
• The tribunal provided clarity on tax obligations specific to LLP structures.
  
• It emphasized accurate reporting and compliance with tax regulations by LLPs.
  
• The decision served as guidance for LLPs in managing their tax affairs effectively.