Cryptocurrency, Future Supply Chain CIRP, Diwali Recess, and More

“AI tools are not infallible; They can generate inaccuracies, hallucinations or reflect latent biases of their training data. Human oversight is non-negotiable.”

-Supreme Court judge Surya Kant in his keynote address at a conference of the Bar Association of Sri Lanka

Key Rulings:

• Madras High Court recognises cryptocurrency as property capable of being owned, enjoyed and held in trust under the Indian law

Courts 

• Most of the courts across the country remained closed for some days during the week for Diwali
• Bombay High Court has rejected an unconditional stay on an arbitral award of over 2.5 billion rupees in the Mumbai Metro Rail case
• Delhi High Court protects personality rights of actor Hrithik Roshan, a local court in Hyderabad grands protection to Telugu actor Chiranjeevi

Quasi Courts

• NCLT Mumbai approves Reliance Retail’s bid for Future Supply Chain Solutions
• NCLT Bengaluru rejects plea by Byju’s administrator to halt Aakash Educational Services’ EGM
• NCLT Ahmedabad admits subsidiaries of BluSmart into insolvency over unpaid dues of Google Maps

Other

• Former ASG Pinky Anand appointed judge at the Bahrain International Commercial Court
• Dr. OV Nandimath of NLSIU appointed VC of WB NUJS

The Big Listings

• Oct 27: Supreme Courtscheduled to hear VodafoneIdea’s fresh petition seeking waiver in relation to AGR dues
• Oct 29: NCLT in Ahmedabad to hear petition for Vedanta’s demerge
• Nov 17: Supreme Court to hear Sahara’s plea for court’s nod to sell its properties to Adani to raise funds
• Nov 18: Securities Appellate Tribunal to hear appeal by Jane Street challenging SEBI’s move to allegedly refuse access to important documents to the firm in the case against it

* The dates of hearing can change and a concrete list is prepared just a day before

Legal Moves 

• Maanas Jain of Paul Hastings joins Outer Temple Chambers