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Bombay High Court Quashes Willful Defaulter Declaration Against Non-Executive Woman Director for Violation of Natural Justice. Show-Cause Notice Mandatory Under RBI Master Circular Before Declaring Non-Whole-Time Director as Willful Defaulter.

The petitioner, Manjula Bhatia, a non-executive woman director of PSL Limited, challenged the letter dated 16 July 2018 issued by Bank of Baroda decla...

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Bombay High Court Admits and Finally Disposes of Writ Petition Challenging RBI Circulars on Gold Import. Court Hears Arguments on Validity of Circulars Issued Under FEMA and Related Trade Policy.

The petitioners, a bullion dealing company and its directors, filed a writ petition under Article 226 of the Constitution seeking to quash RBI Circula...

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Bombay High Court Directs FRRO to Issue Exit Permit to Acquitted Chinese National in Gold Smuggling Case — Customs Department's Opposition Held Unjustified. The court held that the mere intention to challenge an acquittal does not justify preventing an acquitted person from leaving the country.

The petitioner, a Chinese national, arrived in India on a flight from Beijing that was diverted to Mumbai due to bad weather. Upon arrival, customs of...

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High Court of Bombay Dismisses Revenue's Appeal in Cenvat Credit Dispute — Cargo Sales Report Held Valid Document for Availing Credit. CESTAT's finding that Cenvat credit cannot be denied merely because the document does not contain all particulars under Rule 9(1) of Cenvat Credit Rules, 2004, upheld.

The present appeal was filed by the Commissioner of CGST & Central Excise, Mumbai (West) under Section 35G of the Central Excise Act, 1944 against the...