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Bombay High Court Allows FERA Appeals Against Penalty for Irregular Release of Foreign Exchange by Full Fledged Money Changer. Show Cause Notice Held Vague for Not Specifying Which RBI Directions Were Violated.

The case involves appeals by Trade Wings Ltd., its managing director V.S. Ubhayakar, and director Kirti T. Shah against an order of the Appellate Trib...

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Bombay High Court Hears SEBI's Application to Recall Sanction of Composite Scheme in Fertilizers Merger Case. Securities Regulator Alleges Material Non-Disclosure and Accounting Violations in Scheme Involving Listed and Unlisted Companies Under Companies Act, 1956.

The Securities and Exchange Board of India (SEBI) filed applications on 21.02.2013 seeking recall of orders of the Bombay High Court dated 17.06.2011 ...

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Supreme Court Upholds High Court's Quashing of State Order Transferring Idol Theft Cases to CBI. Court holds that transfer of investigation without consulting the investigating officer and without court's approval was improper.

The State of Tamil Nadu appealed against the Madras High Court's judgment dated 30.11.2018, which quashed the State Government's order dated 01.08.201...

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Bombay High Court Dismisses Petition Challenging FEMA Show Cause Notices Against BCCI President. Section 42 of FEMA applies to persons in charge of and responsible for the conduct of business of a company, and the petitioner as President is covered.

The petitioner, Shashank Vyankatesh Manohar, was the President of the Board of Control for Cricket in India (BCCI) from 2008 to 2011. During this peri...

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Bombay High Court Quashes Prosecution of Directors for Delayed TDS Deposit Under Section 276B Income Tax Act — Delay Not Equivalent to Failure to Pay. Vicarious Liability Requires Specific Averments of Being In-Charge and Responsible; No Notice Under Section 2(35) or Order Under Section 201(1) Passed.

The petitioners, directors of M/s. Hubtown Ltd., challenged the issuance of process against them under Section 276B r/w 278B of the Income Tax Act, 19...

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Bombay High Court Full Bench Interprets MEPS Act, 1977 and Rules, 1981 on Retired Awardee Teacher as Inquiry Committee Member. Conflict Between Division Bench Judgments on Whether Retired Teacher Can Be a Member Referred to Larger Bench for Authoritative Pronouncement.

The Full Bench of the Bombay High Court was constituted to resolve a conflict between two Division Bench judgments on the interpretation of Rule 36(2)...

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KAHC010068412019_1

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FERA APPEAL NO. 57 OF 2006

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