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Bombay High Court Delivers Oral Judgment on Petitions Challenging SEBI's Show Cause Notices to Auditors of Satyam Computers. Question of SEBI's Jurisdiction under Sections 11, 11B, and 11(4) of SEBI Act Raised in Wake of Satyam Fraud Disclosure.

The matter arose from writ petitions filed by Price Waterhouse & Co. and other chartered accountant firms along with individual partners challenging t...

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Bombay High Court Dismisses Builder's Appeal in Specific Performance Suit — Agreement for Development Not Concluded Due to Missing Essential Terms. Failure to Prove Concluded Contract for Sale of Land as Agreement Lacked Certainty of Terms and Was Subject to Further Negotiations.

The appellant, Ramesh Amarnath Malhotra, a builder and developer trading as Deonar Development Corporation, filed a suit for specific performance of a...

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Bombay High Court Dismisses Appeal Against Rejection of Section 9 Application for Unregistered Partnership Firm. Section 69(3) of the Partnership Act, 1932 Bars Interim Relief Under Arbitration and Conciliation Act, 1996 for Unregistered Firm.

The appellant, Masood Mohmmed Husain, filed an appeal against the rejection of his application under Section 9 of the Arbitration and Conciliation Act...

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Bombay High Court Grants Interim Relief Under Section 9 of Arbitration Act in Partnership Dispute — Status Quo Ordered on Firm Properties Pending Arbitration. Court records statements from parties not to alienate partnership properties, directing status quo to preserve subject matter of arbitration.

The petitioners, Taz Naval Nariman and Rukhsshana Meher Anklesaria, filed an Arbitration Petition under Section 9 of the Arbitration and Conciliation ...

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Bombay High Court Allows Decree on Admission in Construction Contract Dispute — Plaintiff Entitled to Claim Amount Based on Defendant's Admissions. Unequivocal Admission of Liability Under Order XII Rule 6 CPC Leads to Decree for Final Bill Amount with Interest.

The plaintiff, a partnership firm, filed a suit for recovery of Rs. 1,07,88,000/- with interest against the defendant, a government-owned company, for...

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High Court of Karnataka Adjudicates Batch of Petitions Challenging Forest Development Tax Notification on Mining Leases; Examines Legislative Competence under Karnataka Forest Act and Forest (Conservation) Act.

A batch of writ petitions was filed before the High Court of Karnataka challenging the validity of Notification No. FEE/23/2007-08 dated 16.08.2008 is...

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Special Court Convicts Broker and Beneficiaries in BMC Bank Securities Fraud; Acquits Employees and Other Brokers. Broker Held Liable for Dishonest Receipt of Stolen Property Under Section 411 IPC, While Beneficiaries Convicted of Cheating Under Section 420 IPC.

The case involved a criminal trial before the Special Court under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 19...