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High Court of Judicature at Bombay Considers Winding Up Petition Based on Alleged Debt Arising Out of F&O Trades; Respondent Disputes Liability and Raises Counter-Claim for Damages

This company petition sought winding up of Prime Broking Company (India) Ltd under the Companies Act, 1956 on the ground of inability to pay debts. Th...

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Supreme Court Upholds SAT Order Setting Aside SEBI Ex-Parte Interim Order in Insider Trading Case Due to Lack of Urgency. Tribunal's observation on SEBI's power to order pre-adjudication disgorgement held not to be a precedent.

The Supreme Court disposed of two statutory appeals filed by the Securities and Exchange Board of India (SEBI) under Section 15Z of the SEBI Act, 1992...

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Bombay High Court Grants Anticipatory Bail to Accused in SC/ST Act Case Due to Lack of Prima Facie Case. Allegations of Caste-Based Insults Found Vague and Not Attracting Offences Under Sections 3(1)(r) and 3(1)(s) of SC/ST Act.

The judgment pertains to two criminal appeals filed by Jagdish Sajjankumar Banka and Satish Sajjankumar Banka under Section 14-A of the Scheduled Cast...

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Supreme Court Sets Aside High Court Order in Teacher Recruitment Case Due to Reliance on Invalidated Selection List. Termination Upheld as Based on Fresh Reselection Process Ordered by State Administrative Tribunal, with Marks Recalculated to 109.86 Below Cut-off.

The dispute originated from a 1996 recruitment process for primary school teachers in Odisha. The respondent was initially selected with 114.80 marks ...

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Bombay High Court Quashes Reassessment Notice Under Section 148 of Income Tax Act, 1961 for Lack of Valid Sanction Under Section 151. Reassessment Notice Issued Beyond Three Years Held Invalid as No Approval from Specified Authority Was Obtained.

The petitioner, Emkay Global Financial Services Limited, a company engaged in shares and stock broking, challenged a reassessment notice dated 31st Ma...

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Bombay High Court Grants Decree on Admission in Security Deposit Refund Case Under Order XII Rule 6 CPC. Admissions in Letters and Financial Statements Constitute Clear and Unequivocal Admissions of Liability for Refund of Security Deposits.

The plaintiff, SRL Limited, filed a suit against Techtrek India Limited for recovery of Rs.1,58,54,200/- being the balance of security deposits paid u...

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Supreme Court Remands NSE Penalty Case to SAT for Reconsideration of Quantum of Punishment. Circular vs Bye-law Conflict on Suspension and Fine Limits Requires Fresh Examination.

The Supreme Court of India heard a civil appeal filed by M/s PRRSAAR through its proprietor Ved Prakash Gupta against the National Stock Exchange of I...

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Gujarat High Court Quashes Preventive Detention Order in PASA Case for Lack of Material Showing Disturbance to Public Order. Detention Order Based on Prohibition Act FIRs Set Aside as Mechanical and Without Application of Mind.

The petitioner, Dipanki Nishil Dilipbhai Soni, filed a Special Criminal Application under Article 226 of the Constitution of India before the Gujarat ...