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High Court of Karnataka Confirms Removal of Chartered Accountant for Professional Misconduct in Audit of Great Western Industries Ltd. — Council's Recommendation for One-Year Removal Upheld Under Section 21(5) of Chartered Accountants Act, 1949.

This is a reference case filed by the Council of the Institute of Chartered Accountants of India under Section 21(5) of the Chartered Accountants Act,...

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Bombay High Court Dismisses Challenge by SEBI Employees Association to Direct Recruitment and Deputation of Executive Directors; Holds that Section 9 of SEBI Act, 1992 Confers Unrestricted Power on Board to Appoint Officers of Its Choice, and Regulations Cannot Fetter This Power.

The dispute arose from a writ petition filed by the SEBI Employees Association along with individual Chief General Managers challenging the Securities...

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Karnataka High Court Adjudicates upon Writ Petitions Challenging Re-Assessment Proceedings for Assessment Years 2005-06 to 2007-08. Court Analyzes Whether Notices are Barred by Limitation and Whether Assessee Failed to Disclose Material Facts.

The petitioner, EIT Services India Pvt. Ltd. (formerly Hewlett Packard Globalsoft Private Limited), a company engaged in export of software services a...

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Bombay High Court Considers Interim Injunction in Land Allotment Dispute Involving Cooperative Housing Society. Notice of Motion Seeks to Restrain Creation of Third Party Rights Over ~23 Acres Prime Land in Versova, Mumbai.

The judgment text provided only includes the introductory paragraphs outlining the nature of the dispute and the relief sought, without the court's an...

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Supreme Court Grants Bail to Former Minister in PMLA Case Due to Prolonged Incarceration and Delay in Trial. Right to Speedy Trial Under Article 21 Prevails Over Twin Conditions Under Section 45 PMLA Where Trial of Scheduled Offences is Unlikely to Conclude in Near Future.

The appellant, V. Senthil Balaji, a former Transport Minister of Tamil Nadu, was arrested on 14 June 2023 by the Enforcement Directorate (ED) in conne...

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Supreme Court Allows Insurer's Appeal in Insurance Claim Dispute Over Depreciation Rate for Fire-Damaged Machinery. Court Holds That Insured's Failure to Reinstate Damaged Property Within Extended Time Renders Reinstatement Value Clause Inoperative, Entitling Only Market Value on Depreciation Basis.

The dispute arose from a fire accident on 12.12.1998 that destroyed the '20 Hi Cold Rolling Mill' of the insured, M/s Bhushan Steel and Strips Ltd (la...