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Search Results for "IndusInd Bank"

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High Court

High Court of Judicature at Bombay Partly Allows Writ Petitioners in Emergency Credit Line Guarantee Scheme Matter. Writ Petition Treated as Representation and Union Finance Ministry Directed to Decide Within Four Weeks to Ensure Scheme Benefits Percolate.

16 Sep 2021

The dispute arose from the Emergency Credit Line Guarantee Scheme introduced by the Government of India through the Ministry of Finance. The petitione...

High Court

Bombay High Court Allows Writ Petition of Bank Against Income Tax Settlement Commission Order — Interest on Government Securities Accrued But Not Received Held Not Taxable Under Section 5 of Income Tax Act, 1961. The court held that under the mercantile system of accounting, interest on securities accrues only on due dates of payment, not on a day-to-day basis, and thus interest not due as on 31st March 1997 is not taxable in that assessment year.

23 Jun 2023

The petitioner, Indusind Bank Ltd., a private sector bank, filed its return of income for Assessment Year 1997-98 on 1st December 1997, declaring an i...

High Court

Bombay High Court Allows Summary Judgment in Favor of Negotiating Bank in Letter of Credit Dispute. Issuing Bank's Acceptance of Documents Under Irrevocable LC Is Final and Cannot Be Revoked Based on Allegations of Forgery Without Evidence.

11 Jul 2016

The plaintiff, Malayan Banking Berhad, a Malaysian bank, filed a summary suit against Indusind Bank Limited, an Indian bank, claiming Rs. 3,47,87,865....

Supreme Court

Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

16 Oct 2024

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

High Court

Bombay High Court Dismisses Petition Seeking Injunction Against Bank Guarantee Invocation in Contractual Dispute. Court holds that bank guarantee is an independent contract and injunction can only be granted in cases of fraud or irretrievable injustice, not on grounds of disputes regarding work completion.

10 Jan 2013

The petitioner, IVRCL Ltd., had entered into a contract with the respondent, IOT Utkal Energy Service Ltd., for which the petitioner furnished a bank ...

Supreme Court

Supreme Court Allows Appeal in Arbitration Case Over Bank Guarantee Validity - High Court's Direction to Substitute Bank Guarantee Set Aside as Appellant Complied with Original Order for Scheduled Bank Located in India Under Arbitration and Conciliation Act, 1996.

24 Aug 2021

The Supreme Court of India heard civil appeals arising from special leave petitions filed by SEPCO Electric Power Construction Corporation against Pow...

High Court

Bombay High Court Allows Withdrawal of Appeal and Release of Deposited Amount in Insolvency Case — Moratorium Under Section 14 IBC Bars Enforcement Against Corporate Debtor's Assets. The cash deposit made by the corporate debtor in court is an asset belonging to the corporate debtor, and the resolution professional is entitled to its release for the resolution process.

13 Nov 2024

The Bombay High Court allowed an application filed by the Resolution Professional of Siti Networks Ltd. (corporate debtor) seeking withdrawal of Appea...

High Court

Bombay High Court Restrains Encashment of Bank Guarantee in Arbitration Dispute Between Contractor and Sub-Contractor. Court finds that invocation of bank guarantee was fraudulent and would cause irretrievable injustice to the petitioner.

5 Jan 2015

The petitioner, Simplex Infrastructure Limited, a civil and structural construction company, entered into a sub-contract with respondent No. 1, Siemen...

High Court

Bombay High Court Quashes DRT Order for Interim Deposit in Debt Recovery Case — Balancesheet Entry Not Conclusive Admission When Dispute Exists. The court held that an entry in a balancesheet, when qualified by auditor's notes indicating a dispute over interest and principal, does not constitute an unequivocal admission of liability under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993.

1 Dec 2010

The case involves a writ petition filed by M/s. Inteltek Automation Pvt. Ltd. and two others against Indusind Bank Ltd. and another, challenging an or...

Supreme Court

Supreme Court Hears Appeal on Taxability of Capital Gains from Transfer of Shares of a Cayman Islands Company Holding Indian Telecom Assets. The core issue involves whether the offshore transaction is liable to capital gains tax in India under the Income Tax Act, 1961, given that the company's value is derived from Indian telecom assets.

1 Aug 2026

The matter concerned a tax dispute between Vodafone International Holdings BV (VIH), a Netherlands resident company, and the Indian Revenue authoritie...

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