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Bombay High Court Dismisses Petitions Challenging Service Tax on Renting of Immovable Property for Warehousing and Storage. Levy of Service Tax Under Section 65(105)(zzzz) of Finance Act, 1994 on Renting of Immovable Property for Commercial Use is Valid and Constitutional.

The petitioners, including Tulsidas Khimji Warehousing Pvt. Ltd. and others, filed writ petitions challenging the levy of service tax on renting of im...

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Bombay High Court Quashes MHADA Cancellation of Flat Allotment for Non-Payment Due to Non-Issuance of Demand Letter. Petitioner's Allotment Cannot Be Cancelled Without Issuance of Formal Demand Letter Under Regulation 18(1) of MHADA (Disposal of Land) Regulations, 1992.

The petitioner, Sandeep Uttam Bodke, applied for allotment of a flat under the Lower Income Group (LIG) category in response to an advertisement issue...

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Supreme Court Upholds Expulsion of Trading Member for Violating Gross Exposure Limits and Failing to Maintain Capital Adequacy. Securities Contracts (Regulation) Act, 1956 - Section 22F - Appeal against Securities Appellate Tribunal order upholding expulsion from National Stock Exchange membership.

The appellant, Rusoday Securities Ltd., was a trading member of the National Stock Exchange of India Ltd. (NSE) since November 1994 and gave an undert...

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Bombay High Court Dismisses Appeal Against Full Predeposit of Penalty in FEMA Case — No Undue Hardship or Prima Facie Case Established. Appellant failed to demonstrate financial hardship or strong case on merits for waiver of predeposit under Section 19(1) of FEMA, 1999.

The Appellant, Rajkumar Shivhare, was proceeded against for violation of Section 3(c) of the Foreign Exchange Management Act, 1999 (FEMA) for allegedl...

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Bombay High Court Quashes Arrest Order Against Guarantors in DRT Recovery Proceedings — Recovery Officer Cannot Order Arrest Without Prior Notice and Hearing Under Section 25 of RDDBFI Act, 1993

The petitioners, Kishor K. Mehta and Rajesh K. Mehta, were directors and guarantors of Beautiful Diamonds Company Limited, which had availed loan faci...

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Bombay High Court Dismisses Appeal Against Arbitral Tribunal's Interim Order in Bank Guarantee Dispute. Court upholds restraint on encashment of bank guarantee subject to deposit of amount, finding no perversity in the Tribunal's order under Section 37 of the Arbitration and Conciliation Act, 1996.

The petitioner, Mahaguj Collieries Limited, filed two arbitration petitions under Section 37 of the Arbitration and Conciliation Act, 1996, challengin...