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High Court Sanctions Scheme of Amalgamation Between Transferor and Transferee Companies Despite Intervenor Objection. Non-Disclosure of Pre and Post Capital Structure in Explanatory Statement Did Not Invalidate Scheme When Shareholders Had Sufficient Information Under Section 393 of Companies Act, 1956.

The transferor company, Chemidye Manufacturing Company Pvt. Ltd., and the transferee company, Thirumalai Chemicals Ltd., both engaged in similar chemi...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Dispute Over Commission Paid to General Manager. Expenditure disallowed as excess over reasonable remuneration was not laid out wholly for business purposes under Section 10(2)(xv) of the Income-tax Act, 1922.

This appeal arose from an income-tax assessment where the assessee, a woollen manufacturer, had appointed one V as General Manager. The terms of appoi...

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SPECIAL CASE NO. 3 OF 2001

The Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, presided over by Justice Roshan Dalvi, heard Special Case No. ...

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Bombay High Court Dismisses Petition Challenging Validity of Regulations Requiring Additional Examination for Customs House Agents Licenses. No Vested Right to License Arises from Passing Examination Under Repealed Regulations.

The Bombay High Court dismissed a writ petition filed by the Bombay Custom House Agents Association and two individual members challenging the constit...

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Supreme Court Allows Canara Bank's Appeal in Disciplinary Reversion Case — Division Bench Exceeded Scope of Judicial Review. Regulation 10 of Canara Bank Officer Employees' (Discipline and Appeal) Regulations, 1976 is Directory, Not Mandatory.

The case involves a disciplinary action taken by Appellants against its Senior Manager, Respondents, who was reduced from SMG Scale-IV to MMG Scale-II...

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Bombay High Court Hears Appeal Against Company Law Board Order Dismissing Petition. Court Frames Questions on Applicability of Section 111A and Section 43A of Companies Act, 1956 to Deemed Public Company.

The appeal arose from a company petition filed by the appellants, members of the Kavasmaneck family, before the Company Law Board, Mumbai, alleging op...

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Bombay High Court Upholds Removal of Office Bearers in Co-operative Housing Society Dispute. Registrar's Order Under Section 75(5) of Maharashtra Co-operative Societies Act, 1960 Confirmed for Mismanagement and Non-Compliance.

The petitioners, Gaurav K. Desai and Smt. Shailaja Shetty along with Shri Jitendra Tandav, were ex-office bearers of respondent no.6, Sion Kamgar Co-o...