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Bombay High Court Sets Aside Arbitral Award in Lease Finance Dispute Due to Limitation Bar. Claim for Enhanced Rent Based on Depreciation Disallowance Held Time-Barred Under Article 137 of Limitation Act, 1963.

The petitioner, Aditya Birla Chemicals (India) Ltd., challenged an arbitral award dated 9th August, 2011 under Section 34 of the Arbitration and Conci...

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Bombay High Court Upholds Bond Obligation for Super-Speciality Doctors in Public Medical Colleges — Service Condition and Penalty Valid Under Article 226. Doctors Who Completed D.M./M.Ch. Courses Must Serve Two Years or Pay Rs.25 Lakhs Penalty as Per Government Resolution Dated 8 February 2008.

The petitioners, comprising 62 doctors in the first petition and 69 in the second, were doctors who had either completed or were pursuing super-specia...

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Bombay High Court Dismisses Challenge to Arbitral Award in Loan Dispute, Upholds Financer's Claim. Court holds that existence of arbitration agreement is not a jurisdictional issue under Section 16 of Arbitration and Conciliation Act, 1996, and the award is not patently illegal.

The judgment concerns two arbitration petitions: Arbitration Petition No. 783 of 2011 filed by the borrowers (M/s. Sahyadri Earthmovers and its partne...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Marhatta Chamber of Commerce Held Eligible for Section 11 Exemption Despite Business Income. Trust's incidental business activity does not forfeit exemption under sections 11 and 12 of the Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax (Exemptions) against the order of the Income Tax Appellate Tribunal (ITAT), Pune Bench, ...

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Bombay High Court Quashes TPO Order in Transfer Pricing Adjustment for Demerger Transaction. Held that transfer pricing provisions under Section 92 of Income Tax Act, 1961 do not apply to a demerger approved by High Court where assets and liabilities are transferred at book value without any consideration.

The petitioner, Times Global Broadcasting Company Ltd, a wholly owned subsidiary of Benett, Coleman and Company Ltd (BCCL), was engaged in distributio...

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Bombay High Court Allows Cross Appeals in Part in Arbitration Dispute Over Interim Measures Under Section 9 of the Arbitration and Conciliation Act, 1996. The Court Clarifies That an Award Creditor Can Seek Interim Relief During Section 34 Proceedings to Secure the Award Amount.

The case involves cross appeals under Section 37 of the Arbitration and Conciliation Act, 1996 arising from a common order dated 1 July 2019 passed by...

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Bombay High Court Quashes Complaint in NI Act Case for Lack of Vicarious Liability — Petitioner Not a Director or Signatory. Section 141 of Negotiable Instruments Act, 1881 requires specific averments of role and consent for vicarious liability of company officers.

The petitioner, Sidharth Chauhan, filed a writ petition under Article 226 of the Constitution of India read with Section 482 of the Code of Criminal P...

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Bombay High Court Dismisses Petition Challenging VAT Investigation Post-GST. Section 78 of Maharashtra GST Savings Act Held Valid as It Continues VAT Act Only for One Year from Appointed Day as Permitted by Constitution Amendment.

The petitioner, Magma Fincorp Limited, a non-banking finance company registered under the Maharashtra Value Added Tax Act, 2002 (VAT Act), challenged ...

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Bombay High Court Dismisses Petition by Cooperative Bank Challenging Appointment of Administrator Under Maharashtra Cooperative Societies Act. Court holds that the Registrar's satisfaction regarding supersession of board is subjective and not open to judicial review unless mala fides or perversity is shown.

The petitioner, Janakalyan Sahakari Bank Limited, a cooperative bank, filed a writ petition challenging the appointment of an administrator by the Dis...