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Bombay High Court Dismisses Petition Seeking Release of Sealed Factory Premises in Customs Duty Dispute — Petitioner Failed to Comply with Supreme Court's Conditional Order. Interest Demand Under Section 28AA of Customs Act, 1962 is Statutory and Automatic, No Separate Demand Required.

The petitioner, B.V. Jewels, a partnership firm engaged in manufacturing and exporting gold and jewellery, operates an export processing unit in SEEPZ...

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Bombay High Court Allows Writ Petition by Debenture Trustee Seeking Enforcement of Security Interest Against Developer and Its Directors Under SARFAESI Act — Held That Trustee Is a 'Secured Creditor' Entitled to Take Possession of Mortgaged Property Despite Pending RERA Proceedings.

The petitioner, IDBI Trusteeship Services Limited, a debenture trustee, filed a writ petition seeking a direction to the District Collector, Pune, and...

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Bombay High Court Partly Sets Aside Arbitral Award in Development Agreement Dispute Between Cooperative Housing Society and Developer. Court Upholds Award on Termination of Agreement and Refund of Deposit but Sets Aside Directions for Possession and Appointment of Receiver.

The judgment arises from two arbitration petitions and a notice of motion filed under Section 34 of the Arbitration and Conciliation Act, 1996, challe...

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High Court of Karnataka Allows Writ Petition for Condonation of Delay in Investment Under Section 54EC of Income Tax Act, 1961 — CBDT's Rejection Set Aside. The CBDT's power under Section 119(2)(b) is not circumscribed by any time limit and must be exercised liberally to avoid hardship.

The petitioner, Dr. Sujatha Ramesh, sold an immovable property during the Assessment Year 2013-14 and realized long-term capital gains. To claim exemp...

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Bombay High Court Allows Section 9 Petition in Development Dispute — Directs Deposit of Rs.12.5 Crores and Appointment of Court Receiver. Clause 6 of MOU for Refund on Default Forms Basis for Interim Relief Under Arbitration and Conciliation Act, 1996.

The petitioners, four individuals, entered into a Memorandum of Understanding (MOU) with the respondent, a developer, on 29 July 2011 for development ...