Top Supreme Court & High Court Corporate Law Judgments – May 2025 | LegalWiki

Key Supreme Court and High Court Rulings

In May 2025, Indian courts and regulators delivered several pivotal decisions that influenced the corporate and financial regulatory landscape. Below is a summary of the most significant corporate law developments:

Allahabad High Court: Winding Up Under Section 433(f) Only if Company Threatens to Commercial World

Justice Pankaj Bhatia ruled that for winding up on “just and equitable” grounds, the Court must determine the company’s status poses risks to the broader business environment. Read more

Kerala High Court: Section 14 Limitation Relief Not Automatic, All Ingredients Must Be Satisfied

The Kerala High Court has held that the benefit of Section 14(1) of the Limitation Act cannot be liberally applied just to save a case from being time-barred. Read more

SEBI Bars Arshad Warsi, Wife in Sadhna Broadcast Pump-and-Dump Case

The Securities and Exchange Board of India (SEBI) has barred Bollywood actor Arshad Warsi, his wife Maria Goretti, and 57 others from the securities market for one to five years for their role in a pump-and-dump scheme involving Sadhna Broadcast shares. Read more

SEBI Bans Ex-IndusInd Bank CEO, Others for Insider Trading 

SEBI has barred former IndusInd Bank CEO Sumant Kathpalia, ex-Deputy CEO Arun Khurana, and three others from the securities market over insider trading allegations. Read more

Delhi High Court: Actual Loss Must Be Proven for Liquidated Damages Recovery

The Delhi High Court has held that a liquidated damages clause does not imply that the entire amount in a contract can be recovered automatically. The party claiming liquidated damages must establish actual loss or damage on account of breach of contract; mere reference to a stipulated amount would not do. Read more

Lokpal Clears Ex-SEBI Chief Madhabi Puri Buch of Hindenburg-Linked Allegations

The Lokpal has cleared former SEBI chairperson Madhabi Puri Buch of all corruption and conflict of interest allegations linked to the Hindenburg report on the Adani Group. Read more

Delhi High Court Issues Contempt Notice to BluSmart and Gensol Over Non-Compliance in EV Case

The Delhi High Court has issued notice in a contempt plea against BluSmart Mobility, Gensol Engineering, and others for allegedly failing to comply with a court order regarding 10 undelivered Tata Tigor electric vehicles (EVs). Read more 

SEBI Issues Guidelines for Hiring Senior Executives at Stock Exchanges and MIIs

On May 27, 2025, the Securities and Exchange Board of India (SEBI) issued guidelines detailing the appointment process for key management personnel at Market Infrastructure Institutions (MIIs), including stock exchanges, clearing corporations, and depositories. Read more 

NCLT Dismisses Insolvency Plea Against Dunzo by Invoice Discounters

The National Company Law Tribunal (NCLT), Bengaluru, has dismissed an insolvency petition filed against Dunzo by its invoice discounters, ruling the plea as not maintainable. Read more

Supreme Court Halts Bhushan Power & Steel Liquidation Pending JSW Steel's Review Petition

The Supreme Court has ordered a status quo on the liquidation proceedings of Bhushan Power and Steel Ltd (BPSL), pausing all action before the National Company Law Tribunal (NCLT). Read more 

SEBI Slaps Rs 2.1 Cr Demand Notice on Absconding Mehul Choksi for Insider Trading

The penalty includes a Rs 1.5 crore fine and Rs 60 lakh interest. Choksi, accused of sharing unpublished price-sensitive info with Rakesh Gajera, violated PIT rules ahead of the 2018 PNB fraud exposure. Read more

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