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Madras High Court Allows Appeals of Shareholders in Capital Receipt Case — One Million Euros Received from Vedior NV Held Exempt as Capital Receipt. Compensation for Loss of Right of First Refusal and Non-Compete Agreement Treated as Capital Receipt Not Chargeable to Tax Under Income Tax Act, 1961.

The case involves two appeals by shareholders (K. Pandiarajan and R. Hemalatha) against the order of the Income Tax Appellate Tribunal (ITAT) which up...

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"High Court of Bombay: Commercial Arbitration Appeal" "Exploring the scope of judicial review under Section 34 and 37 of the Arbitration and Conciliation Act, 1996, addressing readiness, willingness, and compensation issues in a shareholder dispute."

Arbitration Scope: The Court clarified the restrictive jurisdiction under Section 34 and 37 of the Arbitration and Conciliation Act, emphasizing minim...

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Bombay High Court Quashes NSE Stop Transfer Order and Directs Issuance of Duplicate Share Certificates — NSE Cannot Invoke Section 108 of Companies Act, 1956 to Freeze Shares of a Non-Defaulting Shareholder.

The petitioner, Aloysius D'Souza, acquired shares of Dr. Reddy's Laboratories Ltd. between 1986 and 1997. In 2007, he applied for duplicate share cert...

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Bombay High Court Partially Sets Aside Arbitral Award in Shareholder Dispute Over Hotel Company Exit — Holds That Arbitrator Exceeded Jurisdiction by Granting Relief Beyond Scope of Reference and Without Proper Valuation.

The judgment pertains to two Commercial Arbitration Petitions arising from an arbitral award dated 5th April 2016. The petitioners (Panchamias Group a...

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Supreme Court Upholds Ban on Apartmentalisation in Chandigarh Residential Plots to Preserve City's Original Character. Fragmentation of single dwelling units into multiple apartments violates Rule 16 of Chandigarh Estate Rules, 2007 and the Chandigarh Master Plan 2031.

The case involves a Public Interest Litigation filed by the Chandigarh Citizens Forum (appellants) against the Chandigarh Administration and others, s...

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Bombay High Court Dismisses Application to Set Aside Arrest of Foreign Vessel in Admiralty Suit — Plaintiffs' Claim for Supply of Bunkers and Stores Falls Within Admiralty Jurisdiction Under Section 4(1) of the Admiralty Act, 2017.

The plaintiffs, Universal Marine and Ramanand Padiyar, filed an admiralty suit against the vessel M.T. Hartati (a Singapore-flagged vessel) and its ma...