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Bombay High Court Dismisses Appeal in Derivative Suit Challenging Sale of Shares by Company Management. Minority Shareholders' Challenge to Sale of Bajaj Hindustan Ltd Shares Fails as Court Finds No Prima Facie Case of Fraud or Mismanagement.

The appellants, minority shareholders of Bachharaj & Company Pvt Ltd, filed a derivative suit challenging the proposed sale of 3,46,96,250 shares of B...

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Bombay High Court Dismisses Appeal in Derivative Suit Challenging Sale of Shares by Company Management. Minority shareholders' challenge to sale of shares under family settlement fails as court finds no prima facie case for interim relief.

The appellants, Madhavlal Narayanlal Pittie and others, filed a derivative suit in 2008 against Bachharaj & Company Pvt Ltd and others, challenging th...

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Bombay High Court Grants Probate of Will Dated 1977 Despite Limitation and Forgery Challenges. Executor Succeeds in Proving Due Execution and Testamentary Capacity of Testator Who Died in 1979.

The plaintiff, Suresh Manilal Mehta, filed a petition for probate of a Will dated 16th March 1977 allegedly executed by Rameshchandra Jamnadas Dalal (...

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Bombay High Court Quashes Reassessment Notices for Lack of Reasonable Belief of Income Escapement — Section 148 Income Tax Act, 1961. Reopening of assessments based on mere change of opinion without tangible material is invalid.

The petitioner, Amar Hotchand Nagpal, a finance and estate broker, challenged three notices dated 23rd September 1997 issued under Section 148 of the ...

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High Court Allows Transfer of Winding-Up Proceedings to NCLT Under Companies Act Section 434(1)(c) - Applicant Successfully Seeks Transfer for Corporate Insolvency Resolution Under IBC

The Bombay High Court allowed the transfer of winding-up proceedings against Patheja Forgings & Auto Parts Manufacturing Ltd. to the National Comp...

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Supreme Court Allows Insolvency Proceedings Under IBC Over Defunct Scheme of Arrangement -- IBC Prevails Over Companies Act in Recovery of Defaulted Loans

The Supreme Court allowed an appeal against the Company Law Appellate Tribunal's order that kept in abeyance an application under Section 7 of the Ins...

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NCLT Chennai Allows Dissolution of Company in Voluntary Liquidation Under Section 59(7) IBC, 2016. The Liquidator's petition for dissolution was allowed upon satisfaction of compliance with voluntary liquidation requirements.

The National Company Law Tribunal, Chennai Division Bench, allowed a petition filed by the Liquidator, Mrs. Aneetha Subramaniam, under Section 59(7) o...