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Bombay High Court Dismisses Petitions Challenging SEBI's Ex-Parte Interim Order in Securities Market Manipulation Case. Court upholds SEBI's power to issue ex-parte interim directions under Section 11B of SEBI Act, 1992 to protect market integrity.

The Bombay High Court dismissed two writ petitions filed by Hemant Kulshrestha and Vinay Bansal challenging an ex-parte interim order passed by the Se...

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Bombay High Court Dismisses Petition Challenging SEBI Settlement Regulations and Rejection of Settlement Proposal. Internal Committee's Power to Impose Conditions Precedent Upheld as Valid and Not Ultra Vires.

The petitioners, Abans Enterprises Ltd. and its promoter Abhishek Bansal, challenged the validity of regulations 6(1)(f) and 13(2)(ba) of the Securiti...

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Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

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Bombay High Court Allows Appeal Against Admission of Winding Up Petition Due to Bona Fide Counterclaim. Company's claim for damages exceeding admitted debt constitutes a substantial defence under Section 434 of the Companies Act, 1956.

The appellant, Prime Broking Company (India) Ltd., appealed against an order dated 28 June 2016 passed by the Company Judge admitting a winding up pet...

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Bombay High Court Grants Injunction Against Eris Lifesciences in Trademark Infringement Case. Phonetic Similarity Between 'NEBISTAR' and 'NEBISTOL' Leads to Restraint Order Under Trade Marks Act, 1999.

The Plaintiff, Lupin Limited, filed a suit alleging that the Defendants, Eris Lifesciences Pvt. Ltd. and others, were infringing its registered tradem...

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High Court of Bombay at Goa Allows Appeal in Part Regarding Computation of Deduction Under Section 80HHC of Income Tax Act, 1961 — Receipts from Hire of Barges, Proceeds of Services, Repairs of Vessels, and Extraction Charges Held Part of Total Turnover for Export Deduction.

The appellant, Sesa Goa Ltd., is a company engaged in the business of mining and export of iron ore. For the assessment year 1996-1997, the appellant ...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Broker-Client Dispute. Court Upholds Award Directing Payment of Rs.1,58,39,459.87 but Refuses Interest and Costs Under Section 34 of Arbitration & Conciliation Act, 1996.

The appellant, Harinarayan Bajaj, entered into various share transactions on the Bombay Stock Exchange (BSE) through the respondent, Madhukar Sheth, w...

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Bombay High Court Allows Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 Based on Change of Opinion. Reassessment Notice and Order Quashed as Assessing Officer Had No Fresh Tangible Material to Justify Reopening.

The petitioner, Aroni Commercials Limited, challenged a notice dated 28 March 2013 under Section 148 of the Income Tax Act, 1961 seeking to reopen its...

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High Court of Bombay Sets Aside Arbitral Award in Stock Broker Dispute Due to Perverse Findings. Arbitrator's Failure to Consider Admitted Documents and Ledger Accounts Constitutes Patent Illegality Under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, Shilpa Stock Broker Pvt. Ltd., a stock broker and member of the National Stock Exchange of India Ltd. (NSEIL) and Bombay Stock Exchang...