Search Results for "reasonable surplus"

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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Bombay High Court Dismisses Insurance Company's Appeal in Motor Accident Claim — Insurer Liable to Pay Compensation Despite Driver's Invalid License. Pay and Recover Principle Applied as Insurer Must Compensate Third Party and Recover from Owner.

The case arises from a motor accident claim filed by the respondent no.1 (original applicant) before the Motor Accident Claims Tribunal (MACT), Pune. ...

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Supreme Court Upholds Validity of Pre-deposit Condition Under Punjab VAT Act. Condition of 25% Pre-deposit for First Appeal Held Not Unconstitutional, but Appellate Authority Has Inherent Power to Grant Interim Relief.

The Supreme Court considered a batch of appeals challenging the judgment of the Punjab and Haryana High Court which upheld the validity of Section 62(...

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Bombay High Court Upholds Compensation Award in Motor Accident Claim — Insurance Company Liable Despite Alleged Breach of Policy Conditions. Joint and several liability of driver, owner, and insurer upheld as insurer failed to prove willful breach of policy terms.

The case arises from a motor accident claim petition filed by the legal representatives of the deceased, who died in a road accident on 28 June 2006 i...

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Bombay High Court Dismisses Army Officers' Challenge to Policy Change on Retention of Residential Accommodation During Study Leave. Policy change held to be reasonable and not arbitrary, as it applies uniformly to all officers and is based on administrative exigencies.

The petitioners, four Army officers (Lt. Col. Jitendra Ramchandra Manerikar, Lt. Col. Amar Nath Tripathi, Col. S. S. Jaglan, and Lt. Col. Atul Kishore...

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Bombay High Court Partly Allows Insurance Company's Appeal Reducing Compensation in Motor Accident Claim. Multiplier reduced from 14 to 11 for deceased aged 55 under Motor Vehicles Act, 1988.

The appeal was filed by the insurance company against the award of Rs.10,30,556/- with 7.5% interest by the Motor Accident Claims Tribunal in favour o...