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1. Supreme Court refuses to mandate SEBI disclosure of investment fund beneficial owners

Supreme Court refuses to mandate SEBI disclosure of investment fund beneficial owners

The Supreme Court refused Mahua Moitra's plea seeking mandatory public disclosure of investment fund beneficiaries. A bench of Justices BV Nagarathna, R Mahadevan and DK Upadhyaya declined to direct SEBI to mandate public disclosure of the ultimate beneficial owners and portfolios of alternative investment funds, foreign portfolio investors and their intermediaries in India. The court said it could not issue such a direction in the absence of a legal framework requiring full public disclosure of ultimate beneficial owners, and it disposed of the public interest litigation filed by the Trinamool Congress MP. The bench initially questioned Moitra, saying she could have raised the issue in Parliament. It observed that if a legal regime existed and SEBI was not following it, the court could direct compliance, but without any framework the court could not issue mandamus. Advocate Prashant Bhushan, appearing for Moitra, argued that the court could direct SEBI to ensure full disclosure of the actual beneficiaries even without an existing framework and said innocent investors were being manipulated by investors who boosted shares of companies. Moitra's petition sought greater transparency and investor awareness through mandatory public disclosure of details of ultimate beneficial owners and portfolio holdings of AIFs and foreign portfolio investments, and said SEBI regulates India's securities markets and oversees AIFs and foreign portfolio investors.

2. Delhi High Court seeks ED reply on Lalu Yadav plea against money laundering charges

The Delhi High Court on Thursday issued notice to the Enforcement Directorate on former railway minister Lalu Prasad Yadav's petition challenging a trial court's September 10 order framing money laund

3. Kerala HC directs police not to arrest accused additional district judge until further orders in Cheranalloor car crash

The Kerala High Court on Thursday directed police authorities not to arrest an Additional District Judge, whose 17-year-old son allegedly drove a car involved in the Cheranalloor accident, until furth

4. Patna High Court quashes cognisance order against lawyer, says legal opinion not binding

Patna High Court quashes cognisance order against lawyer, says legal opinion not binding

The Patna High Court, in a ruling delivered by Justice Rana Vikram Singh on Monday in Gopal Krishna Agrawal v. The State of Bihar, quashed a 2016 cognisance order and held that a lawyer cannot be criminally prosecuted merely for rendering a professional legal opinion to a client. The case arose from a 2008 criminal complaint by the Chief Manager of UCO Bank, Exhibition Road Branch, Patna, alleging financial irregularities, fabricated title deeds and criminal conspiracy in the sanction of cash-credit facilities that became Non-Performing Assets. The petitioner, a panel advocate with over 35 years of standing, was included in the police chargesheet and summoned by the trial court under IPC provisions including cheating, forgery and criminal conspiracy. The court said a legal opinion is an expert advisory document, is not binding but only persuasive, and has no evidentiary value, and that an advocate cannot be penalised merely because the opinion was incorrect or a court later took a different view. Citing CBI v. K. Narayana Rao and Surendra Nath Pandey v. State of Bihar, the court reiterated that a lawyer cannot be prosecuted for criminal conspiracy or cheating without tangible evidence linking them to an active plan to defraud. It noted that the petitioner's opinion had cautioned the bank to independently verify the documents. The court warned against weaponisation of criminal law against professionals and said taking cognisance is a solemn judicial act requiring application of mind.

5. Madhya Pradesh High Court holds official guilty of contempt, orders disciplinary action over virtual appearance

Madhya Pradesh High Court holds official guilty of contempt, orders disciplinary action over virtual appearance

On October 27, the Madhya Pradesh High Court at Jabalpur, in a contempt petition titled M/s G.S.B. Construction vs Shri Amit Kumar Gajbhiye, recorded a finding that Amit Kumar Gajbhiye, Joint Director, Town and Country Planning, Bhopal, was guilty of contempt after he appeared before it through video conferencing from his bed while buttoning his shirt and wearing underpants during the morning session. Justice Deepak Khot passed the order. The Court had earlier, by an order dated October 9, 2026, directed the respondent to submit a compliance report, failing which his personal presence would be required. Deputy Advocate General Swapnil Ganguly, assisted by Advocate Akash Malpani, appearing for the State, said he would take up the matter with the higher official for suitable disciplinary action. The Court directed that proper disciplinary action be initiated against the respondent-contemnor and that a report be filed within four weeks, and also directed him to show cause why criminal contempt proceedings should not be initiated against him for his conduct during the proceedings, with his reply to be filed within four weeks. The contempt petition arises from a land use dispute. After going through the compliance report, the Court found that the authority had decided the petitioner's representation on the footing that the petitioner had sought a change of land use. Counsel for the petitioner drew attention to a letter dated October 3, 2025, filed with the petition, which according to the Court showed that a recommendation to correct the map and the nature of the land had already been sent; the land had been wrongly recorded as industrial by the respondent authority though it was designated as a residential area under the Master Plan. The Court noted the recommendation had been forwarded on October 3, 2025 by the Joint Director, Town and Country Planning, Jabalpur, to the Joint Director (IT), Directorate of Town and Country Planning, Bhopal. The Court observed that the order passed on the petitioner's representation was merely an eyewash. Accepting the respondent's submission that the authority would decide an application filed through the ALPASS Portal as soon as possible, the Court directed the petitioner to apply for rectification of the land use through the portal, directed the respondent to facilitate uploading and acceptance of the application within seven days from the date of the order, and directed the authority to decide the application within four weeks from the date of its uploading. The matter will next be heard on November 30, 2026.

1. ECL Finance Ltd. and Ors. vs. Abhinav Mukherjee and Ors. (27.10.2026 - SC)(MANU/SC/1224/2026)

The Supreme Court of India addressed the appeals by ECL Finance Ltd. and IDBI Trusteeship Services Ltd. against the NCLAT's decision affirming their exclusion from the Committee of Creditors (CoC) as

2. Raju Shantaram Koli vs. The State of Maharashtra (27.10.2026 - SC)(MANU/SC/1223/2026)

The Supreme Court of India addressed whether Raju Shantaram Koli's consecutive life sentences for murder and rape should run concurrently. The court referenced the precedent set in Muthuramalingam v.

3. Union of India (UOI) vs. Mohamed Rifas (27.10.2026 - SC)(MANU/SC/1222/2026)

The Supreme Court of India addressed whether a foreign citizen accused under the Unlawful Activities Prevention Act (UAP Act) is entitled to bail, considering Section 43D(7) of the Act. The Union of I

4. Lakshmi Sugar Mills Co. Ltd. vs. Commissioner of Income Tax, Delhi-II (27.10.2026 - SC)(MANU/SC/1225/2026)

The Supreme Court of India addressed whether the unpaid excise duty of Rs. 69,91,983 on uncleared closing stock could be added to Lakshmi Sugar Mills Co. Ltd.'s taxable income under Sections 43B and 1

5. Balakrishna (Dead) thr. L.Rs. vs. G.N. Kanniah Naidu (Dead) thr. L.Rs. and Ors. (26.10.2026 - SC)(MANU/SC/1218/2026)

The Supreme Court of India addressed the dispute between the legal representatives of Balakrishna and G.N. Kanniah Naidu regarding the ownership of Site No. 261 in Munnekolala New Extension, Bangalore

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