Search Results for "Finance Act 1956"

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High Court of Bombay Considers Interim Motions in Suit by Foreign Trustees for Recovery of Assets Allegedly Concealed in India. The Court Examines Whether Plaintiffs Have Made Out Prima Facie Case for Disclosure and Deposit Orders Based on US Bankruptcy Court Findings.

The suit was filed by ITC Ltd., acting as trustees in bankruptcy of Suresh Chitalia, Devang Chitalia, EST Fibres Inc., and Lokman Establishment, to re...

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Bombay High Court Convicts Directors for Contempt of Court in Winding Up Case - Breach of Undertaking and Removal of Seals Leads to Conviction. Wilful Disobedience of Court Order Constitutes Civil Contempt Under Sections 2 and 12 of the Contempt of Courts Act, 1971.

The present show cause notice was issued under Section 2 read with Section 12 of the Contempt of Courts Act, 1971 and Article 215 of the Constitution ...

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Supreme Court Stays High Court Order Striking Down Domicile/Residence-Based Reservation for PG Medical Admissions in Chandigarh. The Court holds that the validity of such reservation requires detailed examination and allows the admission process to continue subject to final outcome.

The Supreme Court of India heard appeals against the judgment of the Punjab and Haryana High Court which had struck down the domicile/residence-based ...

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Bombay High Court Dismisses NSE's Defamation Suit Against Journalists, Upholds Freedom of Speech in Public Interest Reporting. Court holds that a public body like NSE must establish 'special damage' for defamation injunction and that fair comment on matters of public interest is protected.

The National Stock Exchange (NSE) filed a defamation suit against Moneylife Media Private Limited, Sucheta Dalal, and Debashish Basu, seeking an injun...

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High Court of Bombay Allows Appointment of Sole Arbitrator in Arbitration Application Under Section 11(6) of Arbitration and Conciliation Act, 1996. Respondent's Delayed Nomination of Three Arbitrators After Filing of Application Does Not Bar Court's Power to Appoint Arbitrator.

The applicant, M/s. Krishna Industries, a partnership firm, filed an application under Section 11(6) of the Arbitration and Conciliation Act, 1996, se...

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Bombay High Court Dismisses Appeal Against Injunction in Bank Guarantee Invocation Dispute. Fraud Must Be Established at Invocation Stage; Bank Guarantee Is Independent Contract Between Bank and Beneficiary.

The appellant, M/s. ABG Ports Limited, filed a suit seeking a declaration that the Joint Bid Agreement (JBA), the Counter Guarantee, and its invocatio...