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Bombay High Court Dismisses Appeal for Specific Performance of Agreement to Sell, Upholds Refund of Earnest Money. Court finds that the plaintiff failed to prove readiness and willingness to perform its part of the contract under Section 16(c) of the Specific Relief Act, 1963.

The appellant, M/s. Dreams Construction Private Limited, filed a suit for specific performance of an agreement to sell a land admeasuring 1 Hector and...

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Bombay High Court Dismisses Promoter's Challenge to Pledge of Shares During Lock-In Period — Pledge Held Valid as Lock-In Restricts Transfer of Title, Not Interest. Court Rules That Pledge Under Section 172 of Contract Act Does Not Violate SEBI ICDR Regulations, 2009.

The plaintiff, Kannan Vishwanath, a promoter and managing director of Dr. Datson Labs Limited, filed a suit and notice of motion seeking a declaration...

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Bombay High Court Dismisses Appeal by Videocon Industries Against Winding Up Order for Non-Payment of Guarantee Debt to Italian Bank. Patronage Letter Held to Be a Guarantee Under Indian Contract Act, 1872, and Claim Not Time-Barred.

The case involves an appeal by Videocon Industries Limited against an order of the Company Judge directing payment of Rs.259.73 crores to Intesa Sanpa...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Case Under Section 43B Explanation 3C. Interest Converted into Debentures Not Deemed Actually Paid as Per Retrospective Amendment, Disallowing Deduction Under Income Tax Act, 1961.

The dispute arose from an appeal by M.M. Aqua Technologies Ltd. against the Commissioner of Income Tax, Delhi-III, concerning the interpretation of Se...

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Supreme Court Upholds State Policy in Loan Waiver Scheme for Small and Marginal Farmers Under Article 14 Scrutiny. Classification Based on Landholding Found Rational and Non-Arbitrary, with Judicial Review Limited to Constitutional Compliance, Not Policy Wisdom.

The dispute arose from a loan waiver scheme introduced by the Government of Tamil Nadu through G.O Ms. No. 50 dated 13 May 2016, which provided waiver...

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Karnataka High Court Hears Second Appeals on Validity of Gift Deed and Revocation Deed in Joint Family Property. The Appeals Concern Whether a Gift Deed by a Karta Is Void against Coparceners and Whether a Revocation Deed Is Illegal.

The litigation arose from two suits concerning a house property bearing Municipal No. 8-11-181/800 in Raichur, claimed as joint family property of whi...